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Loan Shop/LTS Nightmare

Submitted by mppsu2003 on Thu, 07/31/2008 - 09:53
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So I had agreed to settle with Loan Shop today for 300 dollars. Got a message yesterday saying to leave info with this woman and if it was after hours to leave the info in her voicemail. Fine. Today I get a call barrating me about getting the payment by 5. I said there was way i could do it as I have to work. This woman just screamed at me about it. Eventually she hung up. I called in to talk to the person i last spoke to, and they listend for 2 seconds and i was immediately transferred back to this woman, who promptly said 'calling other people in my office won't work, get it done by 5' and hung up. I don't what to make of this. I had every intention of paying but now I don't know what to think. They made all threats about calling everyone i know and what not. Does anyone have advice that can help in the immediate term.


refresh my memory,how much was borrowed and how much was paid back total.including all debits.


Submitted by paulmergel on Thu, 07/31/2008 - 10:35

paulmergel

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I emailed them this as well as sending through the mail...any thoughts? Bottom line is the only way im paying them is throught the mail. I realize i've alraedy over paid, but i just want the matter done.




I was very displeased with today's events. I had every intention of making the agreed $300 payment today. Just yesterday someone left me a message explaining to call in with a reference number and that if it was after hours to leave in a voicemail. I returned her call and stated that I would have to do it after hours because of work. Today in long before after hours I got a phone call that berrated me and demanded I pay before 5. At no prior time did someone tell me it needed to be befoer 5. I said I would have to do it after work, but that was not good enough. I was then hung up on. I called back to talk to the person I had talked to before and was immediately transferred back to this first person who continued a negative tone. I called back again for a manager and the same thing happened. My suspicion here is at an all time high. I'm not even sure who I am dealing with because the people's extensions always change as do the names
of your company. That said, I have filed a complaint with my attorney general, the FTC, and the BBB. I communicated this information but also relayed to them that I would still settle this account but only to a valid company with a valid address. This is my main reason for complaining to them, along with the highly unnecessary verbal abuse. I have mailed a letter to the address provided by the BBB to cease and desist all communication over the telephone and any and all contact at my place of business. I have also mailed certified a revocation of any wage assignments your company may try to employ. I am well aware of the laws regarding these and I know that barring a signed form by me in person and 20 day notification to me, among other things, that this cannot be submitted. But even so I have the right to revoke that at any time, and this letter is doing just that.
Again as I communicated to the BBB, FTC, and AG, I would still settle this matter. But I would like just some real proof that I am paying the correct people, and that this amount is correct, and most importantly security in knowing that a final payment will close this matter permanently. I do not want this to drag on long, despite what your people accuse me of, however I do not deserve verbal abuse and I know that it is against the law. So please cease all phone communication with me and with my place of business. Once again, I realize you may have frustrations, and I'm sure you would be happy to receive money. I hope an agreement can be reached that satisfies us.


Submitted by mppsu2003 on Fri, 08/01/2008 - 05:28

mppsu2003

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i'm not sure if this pdl is even licensed.someone should be able to assist with that.you see if loan shop is not licensed then you
have overpaid.i would change from settlement to refund,but that is only if they are not licensed.


Submitted by paulmergel on Fri, 08/01/2008 - 05:32

paulmergel

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i would send a C&D letter informing them not to call you at work.send it certified mail return receipt.nothing came up for me as far as a license goes,maybe someone else will correct me,but i don't think this pdl is legal.so you should be seeking a
refund not a settlement.you have way overpaid.


Submitted by paulmergel on Fri, 08/01/2008 - 07:42

paulmergel

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Okay, here is what I would do. First of all, find out for sure if they are illegal in your state. I think I read somewhere where in PA they can be licensed anywhere and be legal, (I'm not sure, but I think that is what I read). Even if they are legal, you've paid WAY over what you originally borrowed, and they are harrassing you now. I would send an email to William Mashburn (wmashburn(@)ltsmanagement.com) He is some sort of account manager there. I would cc Brad Weathers (bweathers(@)ltsmanagement.com). I would state something along these lines:

I had been in contact with Loan Shop regarding a loan I had taken out with you on _______. I have paid aproximatly $780 on a $300 loan. I am now officially requesting validation of this debt, verification that you are licensed to lend to PA residents, verification of all amounts paid by me toward the principle as well as finance charges. You are formally notified that you are not allowed to call me at work. You may contact me via email or usps only. I have revoked all ACH authorization as well as any wage assignments I may or may not have signed.

In light of your companies refusal to reasonably settle this issue, I have filed a compalint with the BBB, the FTC, and the State Attorney General. I am now requesting a refund of all money paid by me over the amount of the original principle borrowed.
Sincerely,___________________

Now, I did somethign similar, and I walked away with a refund. I would write them today.. Don't send them anymore money until you've talked to one of these two. I got the impression based on how quickly they were willing to agree to a refund that they are very illegal and don't want to risk getting in trouble. Let us know how it turns out.. :)
Jen


Submitted by jennifer_bailey75 on Fri, 08/01/2008 - 12:01

jennifer_bailey75

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Yeah i actually emailed william mashburn a while ago about this. but the reply came from someone else stating a bunch of garbage. i'm not concerned with a refund, nor am i real worried because i know there's nothing they can really do. but it's still frustrating and i am very worried that they will call my work and what not.


Submitted by mppsu2003 on Fri, 08/01/2008 - 12:06

mppsu2003

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I would be consistant, keep sending the same email over and over. I think I had to send it about 10 times before I got a response. It isn't about the refund, it's about them breaking the law. I know it seems like it doesn't matter what we say or do, they will keep doing this to people. That may be so, but if more people would fight them and not give in, they would have a harder time bullying people into paying them money they don't really owe them. Follow through with your threats to file complaints with the AG, BBB, and FTC. In the mean time, no matter what you do, keep this in mind. If they intend to call you at work or call your references... they will do it no matter what you do. What is to stop them from claiming you owe even more later on? To say they didn't agree to just $300. Then you'll get a call out of the blue. You need to demand at the very least, a paid in full. Get something in writing. I'd go ahead and write Mr. Mashburn again, as well as Mr. Weathers (though I think they are the same person).

Don't back down
Jen


Submitted by jennifer_bailey75 on Fri, 08/01/2008 - 12:39

jennifer_bailey75

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I sent an email to Mr. Mashburn & Mr. Weathers and copied [email]info@bbb.delaware.org[/email] (this was the email address that responded to my complaint). By the next day, they had a lady named Shirley phoning me to discuss my complaint with the BBB, and today, they have offered a refund providing I sign a release settlement form. Now, I'm just waiting on the form.


Submitted by on Fri, 08/01/2008 - 15:06

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