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Has anyone ever gotten a refund from Rio Resources

Date: Sun, 04/02/2006 - 16:19

Submitted by iloveteaching
on Sun, 04/02/2006 - 16:19

Posts: 150 Credits: [Donate]

Total Replies: 3


I had a loan out with payday-loan-online-to-1000.com aka rio resources. Anyway, I wrote them about the HUGE amount of money that I had paid them already and mentioned that it far exceeded the allowed amount in my state. They wrote me back agreeing to mark my account paid in full and saying that as soon as I faxed in acceptance of their proposal they could process my refund check. Has anyone here ever gotten an actual refund from them or are they just yanking my chain?

Here is the letter:

Quote:
We have received your correspondence regarding your complaint with our company. It appears as though you have misunderstood the terms of your loan agreement.

While the information that you have collected may apply to companies that have locations in your state, it does not apply to Internet Lenders. We do not have a physical location (office) in your state, therefore the same restrictions do not apply to us. This is based on sound advice from our legal department.

We lent you money in good faith on three separate occasions, with the understanding that you would abide by the terms detailed on your loan contract. We upheld our end of the agreement by crediting the funds to your account, and had good faith that you would uphold your end of the agreement in return, which you did during your first two loans, thus creating a good rapport with our company and giving us no hesitation in lending you money a third time.

While we believe that all terms and conditions of the loan agreement have been met on our end, it has always been our policy to make sure that the customer is happy and completely satisfied with our services. We are in the business of helping people and it is never our intention to cause a customer to go through debt consolidation in order to repay us. For this reason, we are writing off your full balance on your loan and applying your past finance charges to your principal balance, since you believed the finance charges to be unfair.

It has been a pleasure doing business with you. Your account will be marked “Paid In Full” and your account with us will be closed. We expect this offer will bring us to an amicable resolution.

Please acknowledge your understanding and acceptance of our proposal if you are in agreement with the offer detailed above. Once your acknowledgement/agreement is received, we will expedite the issuance and mailing of your refund check to the mailing address listed above.

Thank you for your time and consideration in this matter.

Respectfully,

Compliance Department


Yes I did!

"It has been a pleasure doing business with you. Your account will be marked ???Paid In Full??? and the Lender will be prepared to send you a refund check in the amount of $60.00, which is the difference between the $360.00 that you have paid and the original $300.00 loan amount. We expect this offer will bring us to an amicable resolution."

Counter their offer, and see what happens!


lrhall41

Submitted by polly on Mon, 04/03/2006 - 07:17

( Posts: 1709 | Credits: )


Hi! I am curious what exactly both of you wrote to Rio Resources. I have a $200 loan through them through tendollarpaydayloan.com and I have so far paid $310 to them in renewal fees. I have just contacted T&C today, but have not begun their program yet. If there is a chance I can get this one wiped out, that would be great! Please let me know!


lrhall41

Submitted by tw11382 on Thu, 04/06/2006 - 10:29

( Posts: 10 | Credits: )