VIP Loan Shop -- Help!

Yes, they are ruthless to say the least, and not licensed to lend to your state residents. You will need to close your account asap because it will never be safe as long as they have your account number. CLICK HERE to find out how to deal with illegal lenders.

I too have dealt with these people. They are a pain in the a**. They will tell you that since they are offshore they are not bound by the laws of your state. Good luck! I have had several heated email discussions with Lakesha Charles-Wilson whoc calls you names in the email and has Thank you and have a blessed day in her signature. What a joke!

be very careful with VIP loan shop.
I blocked their ACH deductions, so they put in a electronic check in my checking acct.
I will be seeking legal action. I have never given them permission to take money by electronic check.
these people are devious and I am in the process of getting my money back.

I read your thread and decided to take action. OMG - Is she the only one there?! She did respond and it was just like you said it would be with the "be blessed" and all. I'm in Illinois, too. And this was not my first loan with them, so I'm not certain what I'm going to do. They got PLENTY of money from me in fees from previous loans.

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I've dealt with Lakesha as well. I am currently in the process of paying off a legal loan and my car payment. Once these are done, I have two loans remaining - VIP and GECC. I can't close my account until the legal loans and my legitimate debts are covered. I've also found myself in a similar situation with VIP. They take the renewal fee forever. I paid off one loan with them previously without incident (though certainly with expense). I used to think you have to be dumb to get into this mess, but apparently all you have to be is desperate. I've got a few more weeks to go and think it will likely get a little worse before it gets better, but know that you're not alone! I wish I could go back a year and talk myself of every applying for a pdl. I'm in much worse shape now, than I was when I first applied! Hindsight really is 20/20.

I previously dealt with paydayone, who were professional and decent. Now I discovered, they no longer do business in Maryland. I don't know why, but they seem to be the only legitimate cash advance business. I tried using Paydaymax. However, they will approve you for an amount higher than what you requested. That's how they get you, especially with their "loan shark" interest rates.

Question: I have paid a total amount of $395.00 in bi-weekly fees on an original payday amount of $300.00.
I can't keep paying this fee, and now they are sending me to collections. What recourse do I have if any? I live in CA.

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Good luck I find them to be very dishonest and I have paid $720 for $400. in 3 months to be told I am only paying interest I do believe that is above the rate allowed. Big Joe does not charge rates like that and the only way I can get the deduction to stop is to close my account.

I am dealing with them too, I have paid 1200 on a 600 loan so they owe me a refund. They turned me over to PDM Associates, who called me several times at work even after I told them not to. My last contact on 1-22, I told them that I want a validation of debt and that this loan has been over paid. I then told them I spoke wtih a Attoreny and filed all my complaints. he ended the call by telling me he was going to send me a validation of debt in the mail. Still have not gotten it... Also everyone here file your complaints. This is the only way we can run them out of business. I know my problems are not over, but I know they know I will not be harassed into paying them anymore money.

You people must all lack basic reading skills. They are not dishonest at all. They spell out in very easy to understand writting the terms of your loan. They tell you upfront the intrest rate the payoff Amt. and the fact that they will charge you every due date until the loan is paid off. If you are unhappy with the terms don't sign. Grow up people and learn how to read. Yes the intrest rate is very very high , however it is an un-secured loan made out to a person w poor credit. OF COURSE THE RATES ARE HIGH. If you maintained a good payment history you would not have these problems. GROW THE F*** UP LOSERS.

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[QUOTE=Anonymous;668249]You people must all lack basic reading skills. They are not dishonest at all. They spell out in very easy to understand writting the terms of your loan. They tell you upfront the intrest rate the payoff Amt. and the fact that they will charge you every due date until the loan is paid off. If you are unhappy with the terms don't sign. Grow up people and learn how to read. Yes the intrest rate is very very high , however it is an un-secured loan made out to a person w poor credit. OF COURSE THE RATES ARE HIGH. If you maintained a good payment history you would not have these problems. [/QUOTE]
YOU must lack simple spelling skills. lolol!

hey Wake Up!! There is a little honesty thing called truth in lending and I think its the lenders responsiblity to let the barrower know they are illegal and not licensed to lend. so the last I heard preditory lending is wrong.

The biggest complaint that I have seen in all forums is that people have been paying fees continuously. If you do NOT notify the pdl companies of the payment options that you wish to excercise, they are forced to abide by the contract that YOU signed as the consumer. It's pretty cut & dry. Read your contract before you sign it! I have seen several contract that have all had a "Truth in Lending Disclosure". Basically all that I'm saying is think before you act.

I think this is sound advice, but not necessarily applicable to all situations. In the case of VIP Loan Shop (which has an office in Missouri, but is, I think, based in the Carribean somewhere), they are in violation of the rules of the state of Ohio and yet they continue to lend to residents of Ohio. I have seen other internet lenders who state clearly that they do not lend to residents in Ohio (or other states). None of us would've sought out short term loans via the internet or elsewhere if we had thought it out and been able to intentify other solutions. The disclosure of a "renewal fee" on an already illegal loan seems irrelevant to me. You do not renounce the laws of your state or your country when you make a transaction online. While I realize it is naive to expect such lenders to familiarize themselves with the laws of every state in which they do business, they should be held accountable as well. While I would certainly encourage everyone to read before they sign and to give serious thought before making your banking information available, I would also encourage each and everyone of you to familiarize yourself with the laws of your state (many of which can be found here) and to report illegal lenders to your state Attorney General's office.

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Wake UP - why are you on this forum if you aren't here to help?? Didn't you READ that most of the people who are in the PDL mess - haven't denied that it was a bad decision or that they "didn't know" the interest rates would be high. The PROBLEM is these lenders suck you in with glamorous offers. And when you think you've got out of the endless cycle - the illegal ones will continue to debit your account and suck you dry. Not to mention, when you have intentions of paying back the debt but unforseen circumstances don't allow you to pay back on "their terms", they will show their true colors and refuse to work out other payment terms, threaten you, and make you feel like you have NO CHOICES!! When someone is scared into paying back a loan vs. paying their mortgage or power bill - theres a serious problem. Don't you think???

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I borrowed $500 from VIP Loan shop, and they have taken over $1000 from my acct. I called their customer service, and half of the time no one answers the phones.I need my money back, but they have refused to refund back my money.I closed my acct to stop them from getting money. what can i do to get my money back from these horrible people.DO NOT FALL A VICTIM OF THIS COMPANY

hey they are not lending money for free its an intrest charge yes its high but i guess u had nowhere else to turn & u borrowed it they are no worse than the IRS, pay them as soon as you get the money back no worse than american express read what you agree too and u wont have this problem.

yes they did lend without being entitled to interset.it's called being unlicensed and illegal,but you don't let the facts get in the way of a stupid rant.typical humanoid shill.

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if you paid fee over what you owed your good just complain to the bbb and loanshop will via email you with a paid in full letter

That's why theyre only good if youre really desperate. You pay alot of interest if not pd promptly but you know their terms going into the loan. Many other loan companies like them. There are others that if you pay it off next pay day, you pay half the interest charge. Check out some others. Its a binding agreement and it is legal!

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THIS GUYS ARE RIP OFF ARTIST!!!! I borrowed $260.00 and they have taken payments from my checking account of $420.00! I called them today and they said that I still owe $260.00 as the $60.00 payment where to extend the loan! What a F___KING RIP OFF!!!

Hey everyone, I too have a loan with VIP for $500 in December. So they took out a finance charge of $225 in January, and $150 thereof bi-weekly. When I called in February for my balance, I was told $500 principal and $150 finance charge. The guy named Irvin said that I was paying the finance charge all along. I've paid them $525 so far. Then I contacted the Department of Corporations for California, and they guy there said, VIP shouldn't have had any business to do with me because they are California licensed and that I should file my complaint. So I did that today, and am waiting for some help.
I called VIP again at the 866 number, and some Saleesha said that the company (she won't say the name) she works for (located in the Middle West) does customer service for VIP from West Indies. And she said that VIP uses its country's law, the guy from Department of Corporations said that is not true. So their you have it folks...VIP is a scam.

,,,"because they are not California licensed." (should read)...

I too had a loan with them...they took out payments every 2 weeks until I put an ACH hard block on my account...they contacted me about payment options for paying off the loan...I never got back to them...today I got an email from them that my loan has been paid in full. WTF?

I made a $500.00 loan with VIP in November since then they have taken a total of $1000.00 out of my account. I tried to put a ach stop pay on them but because the bank can only block the amount coming from that company and not the company itself, instead of sending the usual $150.00 debit they sent $175.00 through and my bank had to process it. Does anyone know if they are licensed and able to do business in Louisiana? Anyone know who I need to contact legally? I have tried to contact VIP numerous times all I get is voicemail which they do not return and they are not returning my emails either. I am unable to close my account because my income tax return is coming direct deposit. Anyone know of any other way to stop them?

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:mad:I have currently paid off a loan with this company, but prior to that they had my paydate wrong, which was costing me overdraft fees, called them to payoff early and the girl who screwed up my paydate said if I had it paid off by March 3 I would only have to pay $300 not $390 because I had already paid my $90 for February but when I called and spoke to some B**** she said no I had to pay $390.00 because I was supposed to call before February 18, well that is when I called and spoke to the girl who said if I had it paid off by March 3, I would not have to pay $300, the lady was such a B****, and I was very heated and cussing and telling them that they are a rip off and seems like an illegal scam to me and I wanted to dispute the payment amount and she said they didnt have a dispute department, OMG I was so mad I could have jumped through my phone she was very rude too. So I dont recommend this company at all, so when you get a letter from that nice ole Montel Williams it is a f****** scam.

This company is a scam and is actually located in West Indies. They end up taking twice the amount of money loaned. They pray on good people who run into financial issues. My advise is for you to file complaints with Attorney General and BBB.

Above all else close your account or they will continue to steal from your account!

I took a 300 loan n they did not deduct the pay off when they were supposed. Next thing I know I gt a call stating I owe. Long story short they just took 645 out my account

There is no predatory lending law when dealing with an illegal lender! I have sent Loan shop the letter and they have not contacted me yet. I have closed my bank account and actually have a whole different one. Since I have found this site I am so empowered. I have gotten a PIF from a lender I had one send the account to collections and when I sent them the debtvalidation letter along with filing compalints they turned the account back over to the illegal lender, I am not responding to their scare tactics because you are illegal and must follow my state laws. If I owe you and you provide no address you get no paymeent. The only ones really being a**holes about their stuff is Ameriloan and United Cash Loans and we can play the game its all good with me.
Don't fall subjective to the nonsense and don't pay some of the non spelling losers that attempt to tell you to handle your business they sound like advocates for PDL companies. Tell them to get a life and a education and Be Breezy!!!

It feels so good to have my paychecks for what I need them for!!!

WARNING: DEVIL'S ADVOCATE POST.

I don't understand all the complaints about "illegal" lenders. Companies like theviploanshop.com are legal. Since they do their lending over the internet and not in a physical storefront, they are not bound by state laws.

They're incorporated in Nevis for a reason. It's a lot easier to lend in all the states that they lend in when incorporated off-shore. That doesn't make it illegal. If they were "illegal" or a "scam" you wouldn't have hundreds of U.S. banks willingly doing business with them.

You can contact your AG all you want, but it's not going to go anywhere because VIP isn't doing anything that is against the law. They're abiding by the terms of the contract. If you don't pay off the loan on your payday, you are choosing to roll it over which results in a fee. After 5 rollover cycles with no contact from the customer they will begin paying down the principal with the future finance fees. It's all right there in the signed contract.

A lot of people pay the loans off in one or two paydays, so they have one or two finance fees. I don't see how it's "predatory" unless you consider a credit card to be predatory, too. If you only make your minimum payment each month on a credit card, you're really not paying down the balance/principal at all. That's why these are "short-term" loans. They're only worth it if you're planning to pay it back quickly.

All these people telling you these are illegal or you should contact the AG or shut your bank account are incorrect. The best thing to do is to contact the collections department and arrange a payment plan that works for you. If you shut your account or get turned over to 3rd party collections for not paying then it's just going to end up harming your credit and putting you on a "do not lend" list with other loan providers.

I worked in an office that dealt with these accounts and there is nothing illegal about them. I just think there is a lot of misunderstanding about the law as it pertains to businesses like this.

no there is no misunderstanding.you are the typical pdl humanoid.show me any example save for the wage assignment that anything legal was done to anyone.you can''t because the loan was not legal,and vip since they are not located in this country are illegal as all get.so take your stupidity elsewhere please.last thing humanoid only your ilk would spout the old"internet=legal"BS so go away as nobody here is buying the crap you are selling okay.

To J_B if they were so legal then why does the Florida Offfice of Financial Regulation state they are not. See I am going to listen to the regulating agency in my state before I listen to someone that is most likely a paid employee of one of these lenders. As the FOFR has explained to me as well as to many of my lenders including VIP in order to for the loan to be legall in the state of Florida they must be licensed in the state of FL no if ands or buts about it they must be licensed.

I am also currently dealing with the VIP Loan Shop, however I never actually signed anything with them. What happened was, a year ago I applied for a loan through CashNetUSA and was not approved and ended up going through someone else. Around a month ago I applied through them again and was once again denied, however they gave me a list of affiliate lenders who might be able to get me a PDL. I clicked on VIP Loan Shop and was forwarded to their site, where they told me I was preapproved for a $300 loan. I clicked a button that said "Apply for Loan" or something along those lines, and the next page told me that they would contact me for verification in order to complete the loan.

Where it begins to get shady is I never put ANY information into their website, and can only figure that CashNetUSA had forwarded my information to them when I was forwarded to their site. I figured that after I clicked the Apply button I would have a chance to see their offered loan amounts and would put in my information. I was never shown nor agreed to any of their terms, I never was shown nor agreed to any of their finance fees. In fact a few days later I decided that I did not even want or need the loan. They did attempt to contact me, and I never answered or called them back, figuring without the authorization they said they needed the loan would not be processed.

Then sure enough I receive an email stating that even though they never finalized the loan over the phone, my SIGNED CONTRACT had been received by them, my employment had been verified, and my loan was being processed. I NEVER signed anything with them, and more than that my employment information was a year old (from CashNetUSA), at a job I wasn't even at anymore! So they were just flat out lying to me.

My biggest mistake was not immediately having the bank send the money back. Although I was able to scrape by at that time, I decided to use the money for bills since it was already in my account (which is part of how they get you), and I would pay them back. I have dealt with numerous other companies and never had any issues.

Now I have been hit with over $180 in fees, and have attempted to email them back and am awaiting a response. Reading a lot of these horror stories have scared me and am trying to figure out how to proceed. To recap, I never put any information into their site, I was never shown their terms and fees, I never signed anything, electronic or otherwise, my so-called "verified" employment history is completely inaccurate, and I never finalized the loan over the phone. How is this even legal? I found that even if I pay the loan back in full they will still charge another $90 finance fee, and after reading some of the stories here they might continue to charge my account! I would appreciate any help you guys might have!

personal info removed as per ToS - Jason[EMAIL="awilsonlwtc@hotmail.com"]
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To the last post......I had the exact same thing happen. Got turned down by Cashnetusa, was desperate as all get out in my situation but got a phone call out of the blue from VIP. I told them I was not sure and wanted something in writing. Two days later it was in my account and I got an email saying they verified everything and that the terms were the same as we discussed (except we never did, I just said to send me an email to the gal on the phone with the details). I thought to my self ok like a regular payday no problem. Well my 300 turned into 1000 in less than two months. I closed the account, they called I cussed they hung up. They called some more contacted my bank to get the new account (unsuccessfully). This was all after I had called to get the final pay off two weeks in and they said 150 on top of my 300 loan so I had said yes and did the payoff thinking it was done and over. Now I just have fun calling them back at night when they have their answering machine on leaving them detailed (insert bad words) each time they call.:p

Contrary to what this fool says, the Attorneys General of almost all States would say that this company is not operating legally in their State and in fact at least in Arkansas they have the Court rulings to prove it.

According to Title 31 of the Revised Code of Washington, Internet payday lenders that do business with Washington residents must be licensed by DFI and adhere to Washington's loan limits and terms.

If they are not so licensed, they are operating illegally within the State of Washington and therefore their loans are not valid.

Any payday loan obtained from a lender not licensed with the Washington State DFI, and not repaid to the lender may not be collected by lender and the lender may not pursue action in Washington State to collect the debt. See RCW 31.45.105.

RCW 31.45.105
Violations of chapter ??? Enforceability of transaction.

(1) It is a violation of this chapter for any person subject to this chapter to:
(a) Directly or indirectly employ any scheme, device, or artifice to defraud or mislead any borrower, to defraud or mislead any lender, or to defraud or mislead any person;
(b) Directly or indirectly engage in any unfair or deceptive practice toward any person;
(c) Directly or indirectly obtain property by fraud or misrepresentation; and
(d) Make a small loan to any person physically located in Washington through use of the internet, facsimile, telephone, kiosk, or other means without first obtaining a small loan endorsement.
(2) In addition to any other penalties, any transaction in violation of subsection (1) of this section is uncollectible and unenforceable.
[2007 c 81 ?? 1.]

The laws of most States are similar.

The VIP Loan Shop is operating illegally if not licensed in your State and therefore any loans made by them are not lawful and are uncollectable. If everyone screwed over by these scammers would file complaints in their States and with the FTC and the Internet Crime Center, I suspect that they would soon look for "greener pastures".

The bottom line is that no matter what these defenders of usuruous predatory lenders say, they are immoral and operating illegally in most States. The State laws/statues clearly prohibit them.

Being offshore does not exempt a company from complying with local laws if they do business with people in those communities. Most states require that a payday loan company be licensed in the state to do business with any resident of the state; if they fail to do so then they are in violation of the law.
Your post is not devil's advocate, it is factually and legally wrong.

All I have to say to people crabbing about VIP is READ THE NAME !! VIP is a SHORT TERM LOAN COMPANY!!!! Its a loan to get you to your next paycheck period!! You cant treat it like a car loan or a credit card. You get the money and pay it off with your next check, period! Its like getting a marker in Vegas, you use there money at the moment and pay it off before you leave its that simple. :-?

another idiotic humanoid.be still my heart.i could go over all the reasons again,but your ilk never learn,don't care,and will always be what you are.humanoid losers,shills,and bobos for illegal internet offshore lenders.now back to the phones drone.

Yes the same thing happened to me with them. I borrowed 300 and they continued to take money out which was a total of 400. I closed my account and a year later a received a phone call from a legal services which told me they were going to take me to jail. This has been very upsetting. I am in the process of trying to find help with this.

You can't go to jail.. they owe you 100 dollars.

they won't.they use that verbage to scare you.don't let it.an empty threat.