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Does anyone know if United Cash Loans is licensed in TN

Date: Wed, 08/26/2009 - 15:24

Submitted by anonymous
on Wed, 08/26/2009 - 15:24

Posts: 202330 Credits: [Donate]

Total Replies: 6


I recently found myself in a huge financial crunch and borrowed $300. In the past 5 weeks, they have deducted $360 dollars from my bank account and are telling me that I still have a balance of $390... This is such a ripoff!!! Does anyone have any advice?


You can check their licensing status from the following link. But most likely they aren't licensed in TN.

"http://www.tennessee.gov/tdfi/compliance/Lic_DP.html"

I think you immediately need to stop further withdrawals from your bank account by putting a hard debit block and sending ACH revocation letter to the creditor.


lrhall41

Submitted by SC on Thu, 08/27/2009 - 02:46

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Please check the stickies on this site re. closing your bank account and then do so; unfortunately that will be the only way to stop them from taking your money. And, as Guest said, do not contact them until your account is closed (or at the very least has been changed to "deposits only"). Talk to your bank manager about what's happened, odds are they've heard about PDL's before.


lrhall41

Submitted by on Thu, 08/27/2009 - 04:14

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They aren't licensed anywhere. They claim they are an Indian tribe and don't need licenses. The tribe thing has helped protect them from regulators, so far, but doesn't make their loans legal or enable them to collect if you default. You should be on safe ground if you treat them like any other unlicensed lender.


lrhall41

Submitted by on Thu, 08/27/2009 - 06:57

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Did you drive to Delaware to get your title loan? It's one thing to argue that PA law applies if you did the loan from your computer in PA, but if you went to Delaware to get the loan it's a different story. Kind of like if you live in North Carolina where the speed limit is 70. It doesn't mean you get to do 70 in New Jersey where it's usually 55 and never more than 65.


lrhall41

Submitted by on Thu, 08/27/2009 - 07:02

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