My money chest -- advice please -- says they are not a payday loan company
Date: Fri, 11/16/2012 - 14:01
I had a loan with My Money Chest -- Lainsbridge LLC (mymoneychest.com) for $900 and paid $1,143.00. I live in Indiana and sent the ACH and wage assignment revocation (closed my bank account and opened a new one at another bank). Today they responded they are not a payday loan company, but offer a "line of credit" and the bi-weekly payments I made were fees to keep the account active until I could pay down. They also said they were licensed in all states. I asked for their Indiana business license # and they responded to go to their website and it would provide all information I needed. They also stated that it was apparent that I was not going to fulfill my obligation to repay the "line of credit" and would proceed to a 3rd party collection agecy. I was not able to find anything about licenses. I would appreciate any advice on how to proceed...are they a payday loan company or not? So confused on what next steps I should take. Thank you for your time!
illegal lender
no internet co is licensed in IN.this one is not licensed in any state.go to the sticky in SOAPLADY'S signature.it will give you info on dealing with illegal lending slime like this.btw you overpaid and really should mail them for a refund,an call them on their delusional assertion that they are legal when they certainly are not.
