Ameriloan - Unlicensed/Illegal????

I think that the collection agency can legally report you to the credit bureau. Someone correct me if I am wrong................

The collection bureaus now days or swamped, im not sure if they even check anymore to see if it is right or not or where the infomation is commming from. They just assigned it a code number and enter it on your report. I have been trying to get them straight with Wells Fargo Auto Finance for 10 months and they still cant get it right. I would pull all three reports and go from there.

luke

IS there a letter to send to these illegal operations?

What about these guys? Any others illegal/unlicensed?

BIG (formerly Route 66)
Loan Shop
Cash in a Wink

Hi Cheyenne...just logged onto the other thread and saw you listed all of your loan amounts for these pdl's over there. I am going to post some info for you over there.

I stopped paying them two years ago. they are still calling me to pay them, and have offered a settlement of $190 which is suppose to be 70%. I only borrowed $100 and they were paid most of there money except $65.00. my credit report does not reflect any activity from them. Nor do I plan to pay them anymore money.

A collection agency may report you to the credit bureaus. However, if it is an illegal debt (which ameriloan is unlicensed/illegal), you can dispute the hell out of it. Also, they should not report to the credit bureaus without validating this debt. Which they probably will not validate since it's an illegal debt. Do not be surprised to see anything on your credit report. Demand debt validation from the collection agency. Dispute ANYTHING since this is an unlicensed/illegal company. If something does show up on your credit report, dispute it immediately.

How does one find out of the pdl companies are illegal? I have a loan with ameriloan plus 4 others. I am thinking and probably will close my checking account and open one somewhere else. I cannot even eat. How did i get in this mess.

t, I got your message. Please post for me what state you reside in. I need your state. Also, list for me who you have pdls with. Put their name (I know one is Little Loan Shoppe and one is ameriloan?). Put how much you borrowed (principle amount only). And then how much you have paid them so far total on each one. Please post this information and I can help you out. :D

First i live in Iowa

Second here are the loans that i have out. They are all online loans.

ameriloan, $200.00, have paid $120.00

Little loan, $200.00, haven't paid anything yet

Loan Shop, $200.00, paid nothing yet.

MTE Finanace, 300.00, have paid well over $400.00

EME Marketing, $200.00, paid over $300.00 so far.

I am thinking of closing my checking account because i can't pay the rest of my bills due to these. Any advice. Thanks

That last post was from me cannr. sorry about that.

Here are the laws for your state Iowa (just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Also please read:
http://www.debtconsolidationcare.com/paydayloan/close-account.html

Well i can tell you from recent experience that MTE is ILLEGAL ILLEGAL...I just dealt with a dba of theirs. Send them a letter of validation. I recieved a really good one from Cannr. I also included a statement with my state laws and that I had reported this activity to my state AG as well as to the BBB and state banking/ regulators.
They can threaten all they want, and trust me they will. Just stick to your guns, keep all corespondence USPS and or Email. Let them know you are serious and done with them.
Trust me I spent many nights crying, even had to aruge with a so called attorney who didnt know this company was illegal!!! It truly does get better..takes time but it gets better:)
Chin up

How do they do this if they are illegal. I am just sick about this. What is a letter of validation. I am going to do whatever it takes to get this taken care of. I refuse to live like this anymore. So far three of the companies that i have loans with are illegal. How does this happen. Makes me sick. I hope it gets better, it can't get worse can it. Thanks so much

A letter of validation asks them to provide many things to show that this is actually a debt by you and that it is a legal debt. It also asks them to show that they are a legal company with the rights to do business, collect monies etc.
An illegal company such as MTE or any of its DBA's can not show that they are legal in the usa, hence having no rights to give or collect loans.
Also it asks that they provide proof of your loan,payment history etc. Do not be fooled it is not asking for verifictaion of address or anything else, it is asking for them to validate the legality of this debt and their right to legally collect that debt.
What happened with me was that after the initial confrontation it was sold to yet another company who in turn turned it over for collection. No matter it was still an illegal loan hence making any attempt to collect it at that point mute!
I think Cannr, or finsfans or volleyball mom could explain that much better than myself, but that is the jist of what it is.
I know it is a complete nightmare and you feel like it will never end, but trust me if you can stand your ground, and hang tough for awhile you will soon be sleeping soundly again and believe it or not even smiling again :)
Just listen to the good folks here they know their stuff, they saved me :)
CHIN UP

So do i write them and ask for this valadation letter or wait until they call. I cannot believe that this is allowed to happen. Oh don't kid yourself i will stand my ground. My life (as you well know) has been hell since these things and i will not crumble. I will fight till the end. Thanks again for your help. Hopefully cnnr will reply to my email and get me that letter of validation.

That was me sorry i logged in wrong. Thanks again.

tlm...if you look to the top of the page there is a section title called do it yourself...if you click on that and scroll almost down to the bottom of the page there is a link for sample letters...there is a debt validation letter on there...that's the one I used last.

Just a side note..I am pretty sure your state laws were posted...(could be wrong) but send a copy of that with your validation letter. According to the attorney who was supposed to be collecting my account that is what set it over the top.
He said "As a consumer you are obviously well informed as to your state laws pertaining to this subject more so than my office has been informed" Thank you for responding to our corespondence and working with us to close this matter."
I do so love outsmarting those people or at least letting them know i am no dummy and will stand up for myself:)
Chin up ;)

t, I'm here. You don't need a debt validation letter yet. Yes, three of your internet loans are definately unlicensed/illegal. What is the last one you posted? Just the initials. Is that the name of the pdl? Or do those initial stand for a name? It's probably another unlicensed/illegal one, but just to be sure, is that the name of it? Is that what is showing up next to the debits from your bank? Also, you really really might want to consider closing your bank account due to these illegal companies. They will continue to hit your account FOREVER. MTE is relentless. Please stop beating yourself up. We've been there. Hell, I've been fighting MTE forever now and probably will be forever! Your first thing right now to do is get your bank account squared away. You need to prevent these pdls from debiting your account. You can tell them not to; however, they will continue to. Believe me. First, tell me who the last pdl you listed is. Is there an actual "name"? Then, go to the top of the site page and you will see a "sticky" regarding CLOSING YOUR BANK ACCOUNT. Read that carefully and post any questions you have regarding that. We can take care of this, t. Don't worry. We need to do it step by step and we'll help you every step of the way. #1 is to get control back of your money. Do not let these illegal pdls continue to debit your account. #2 is that we're going to get you a letter to send to every pdl that you have - but you do NOT send the letter until your bank account is taken care of. #3 is that we're going to get you to file complaints to the government agencies regarding these illegal pdls. Okay? It's going to be okay. You're fine now. As long as you get that bank account taken care of to where these guys can no longer debit, we can then move on. Any questions at all, just post. :D

:( sorry i jumped the gun a bit with the validation letter. I tend to forget I had already taken care of bank account before i came here.
tlmjc...these guys are awesome...listen to them, follow their advice and things will turn out just fine :)

i2, don't apologize! t might need a debt validation letter down the road! Never apologize! We'll see what t comes back and says and we'll move forward! :D

EME is the name that is next to the debit on my bank account. Not sure what it means but that is what is listed. I will close my account. I think that is the only way i am going to get this stopped. Are any of the other ones illegal that you can see? Thanks for your words of wisdom and encoragement. This gets very frustrating, but i have learned a very big lesson.

I am not seeing the sticky that says closing your bank account. Do i have to go to the home page?

Hang on, t. I'm looking at your other loans. I'm just wanting to check the names again. And that one is really throwing me off. Do you have an address or phone number or anything for the EME one? Or do you remember a loan with a different name? Hang on. I'm looking at your other ones now.

Okay. Here's what the deal is. ameriloan, Little Loan, Loan Shop, and MTE are not licensed/legal. And, for your information, MTE is satan :evil: . Ameriloan is part of MTE. So watch them. Still going to research that EME Marketing one. But, here's your totals since they are unlicensed/illegal.

Ameriloan borrowed 200/paid 120/owe 80
Little Loan borrowed 200/paid 0/owe 200
Loan Shop borrowed 200/paid 0/owe 200
MTE borrowed 300/paid over 400/overpaid 100+
EME Marketing borrowed 200/paid over 300/overpaid 100+

I just copied what's posted regarding closing your bank account. Read this. If you have any questions, just ask. It's really not as hard as it seems. But ask any questions so that you'll be prepared if anything arises.

Before you close your bank account due to payday loans eating away at your paycheck, please read this.

Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.

If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.

It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.

Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches!

Cannr,

I think when i first got it it may have been called E-paydayloans or something to that affect. I am not sure and they never sent me any paperwork. Thank you for posting the closing bank account info. That is very helpful. This sure can be a headache but it sure is nice to have people who care and will help.

t, we're here for you! We've been in your shoes! Either have been or still are! Yes, it's a headache and we've all learned for our mistakes, but it's going to be just fine in the end. Now, you think maybe it's E-Paydayloans? Now that one I have heard of. It could be them. You have no loan documents from them? Was it via the internet or was it via telephone and a "verbal agreement"? Do you remember?

hmm just a side thought. Could eme be another dba of mte? I know cannr has told me mte has a lot of dbas and just by the name it sounds like something from them.
I am looking into a couple other ideas as far as that loan place goes :)
Chin up

No wonder E PayDayLoans rings a bell. I found some information on them for another member. It seems as though they are affiliated with CashNet500, which will not be licensed either. Does the name CashNet500 sound familiar to you? I'm still looking.....

Cashnet 500 Financial
PO Box 572037
Murray, UT 84157
Telephone: (800) 654-7444
Fax: (800) 887-9284
cashnet500.com
e-payday-loan.com/contact.html

Okay, I also found this posted.
e-payday-loan.com/

Mailing address:
e-payday-loan.com
PO Box 571992
Murray, UT 84157

Different address. Not unusual. This pdl might be operating under different names. Not unusual. I also found phone numbers for them. I'm posting everything on here because eventually we're going to need all contact information to send these companies letters. So bear with me while I sit and post whatever I find!

Phone number given are:
1-866-364-9684
1-215-253-4083
1-215-885-1700

HOWEVER, the most recent phone and fax were just posted this month by a member who got an email from them. It is:

Phone: 1-877-633-1100
Fax: 1-866-840-4593

Like I said, just bear with me when I post addresses and phone numbers and such. We will need this information. This way we can just come back and take a look and we have it.

everything i did with e-payday or eme whatever their names are was via the internet. I never got any paperwork or a webaddress to check my account. Thanks for all the work you are putting into this. It is greatly appreciated. I have no way to contact them until they contact me I guess. I will check my previous bank statement.

I just checked my last month bank statement and it was previously called e-payday. Now this month it is EME Marketing. What is up with that. So who do i contact?

God love them. :evil: You have no documentation. Okay, you're going to just have to go by bank statements then. We have a couple of addresses on them. Hell, we'll just send letters to whatever addresses we find. One of them is bound to be the correct one. Or, if they do contact you via email or phone (and I don't suggest taking any phone calls from pdls), get the name. If it's email, it'll say where it's from.

I am starting to learn just how sneaky these people can really be. I advised a friend of mine about a pdl and her "loan" has been reassinged to dba's three times now. And it is reassigned or sold whatever you want to call it after she asks for information on who this company is that is collecting on this loan.
When a payment was taken out of her bank from an unfamiliar name for pdl, she immediatly contacted them and asked for just short of what you would with a validation letter. They said that they were the new holders of this loan and would be the ones taking the payments now, so she upon my advice simply asked where they were from and where they were licensed, at withing 3 weeks it was a new company again and so forth. She is so confused about who is doing what and who she owes she finally talked to the bank..got a letter from them promising the account could and would not be reopened due to these loans, and last i knew was sending a validation letter out.
Hopefully I am still advising her right, but my point was it is interesting how these people will keep switching up names, contact info etc as soon as a consumer starts to question what is going on, making it very hard to pin them down or do anything legally.

I cannot believe how sneaky these places are. I probably never would of even questioned anything until i really got to looking at my bank statement after it was too late if it had not had been for this web site. I am so embarrised to have to go to the bank and close my account and tell them why. I guess though there is o other option. I can honestly say though i feel so much better about this whole situation knowing that i have people i can talk to and find out more info about this whole situation. Thanks so much to all of you. You have made this situation bearable.

Okay, cannr. i closed my checking account yesturday morning and if that wasn't the most degrading experience ever having to explain this problem. Well anyway they closed the account and also put an ach stop on anything that would come in especially the companies i told them to look for. Now, i opened up a new account at the same bank and they promised me that there is no way that those places could get access to those accts or deduct any money unless i give them the info, hopefully they are right. Now with that done what is my next step. Do I sit and wait for these places to call after they realize that i am not paying them anymore or do I send them letters out. I do feel a lot of relief knowing that all of my paycheck will not be going to these crooked places. Help with 2nd step. Thanks cannr.

tlm...I also answered this in your other thread....

t, I'm glad your bank is working with you. And I'm hoping that the account is totally closed. However, you do have another account so your paycheck will now be yours again. Good news! Next step is sending these idiots letters. I have a letter you can send them, t. Do you know how to use the pm feature? Where we can send messages to each other? It's the button underneath my post with 2 people on it that says "pm". Click on that. It will take you to a page that you can type a message and it will come directly to me. Try it and see if you can get a message to me. Once I know we are connecting, I can pm you a letter to send to these guys, okay?

hey cannr,
I sent you a pm let me know if you get it. Thanks again for all your help. I feel so much better about all of this.

t, any questions regarding the letter, just let me know. I'm looking up the addresses you need. Hang on! :wink: Anything to help you!

t, use these addresses. I know if they had more than one address or I was unsure of which address was correct, I sent my letters to every address I had. This E-PayDay/EME Marketing one is a tough one. The phone numbers aren't bringing up anything. So use these for them:

Cashnet 500 Financial/E Pay Day Loan
PO Box 572037
Murray, UT 84157

e-payday-loan.com
PO Box 571992
Murray, UT 84157

For MTE Financial, use this address:

MTE Financial Services
515 G SE
Miami, OK 74355

For ameriloan, use this one:

AmeriLoan
3531 P St NW
Miami, OK 74355

They are a d/b/a of MTE Financial.