Outstanding balance with Rio Resources

PS....Rio also renewed the loan 7 times so far...renewals, extensions etc are illegal in Virginia

Go ahead! I heard Rio has also done some refunds in the past. Give your letter the same importance as did with GWF. I am sure Rio will refund the excess amount if you can prove with copies of your bank statement. Do you have the contract with them in writing? This will be helpful to stand against their excess interest charges.

I do have all bank statements showing their Ach's for this loan since inception. I called the branch manager at my bank and told her about the GW response, she was very happy and encouraged me to let the others know they were violating law...which I am.....she does not like Payday lenders at all but at least the local ones have to abide by some law...she agrees...all internet payday loans should be made illegal.

The response of the branch manager makes you feel confident enough. Now, all you have to do is to send the letter and exercise your legal rights. These lenders thought it will be easier to escape the laws. But they can be put under check when we exercise our legal rights. I hope you will get positive results in this one also. Good Luck!

Thanks. I just emailed the letter with all applicable codes violated. Also I did not know until today..it is a law in Virginia, that they must have a liscense here if they are going to do business with residents of Virginia....That also puts mycashnow and upfrontpayday in violation.

Here is what i asked as a fair settlement with Rio....

Thus, I am expecting Rio Resources to mark the account
under the name of Tom xxxxxxx ???paid in full' and a refund issued in the amount of 425.00...(770.00 less the initial 300 borrowed and the allowed 15 per hundred rule in Virginia).

Here is what the Bureau of Financial Institutions of Virginia says:

http://www.scc.virginia.gov/division/banking/payday.htm

make sure you direct to compliancedepartment @rioresourcesllc.com

Yes, Thanks, that is the email address I used

compliancedepartment @rioresourcesllc.com

I hope you are asking for a refund!!!!!!

I had two loans with Rio Resources, one in my name (which was paid back) & one in my husband's name (which still had a principal due of $100.00 out of an original $300.00 loan). I sent the letter requesting a refund on my loan, which they promptly sent me a refund check on. When the letter was sent on my husband's loan, they sent an email to him saying that they would drop all interest charges and fees and settle with him for the $100.00 (how generous of them, we had already paid a total of $830.00 on this loan!). I just find it funny that they would quickly send a refund on my loan, yet refuse the refund on my husband's loan. What do they do to determine this, draw names out of a hat?

Yes I believe that is exactly what they all do not just Rio Resources. It's amazing to me that some get refunds and others don't. I had had a loan with another company for over 3 years and when I asked for a refund they denied and I know there were others on here that had a loan for a short time (3 months or so) from the same place and they got a refund - makes no sense to me at all. So like I said - drawing names out of the hat seems to be common practice.

It has almost been 24 hours since I emailed rio and havent heard a word yet, whewn the 24 hours are up its being forwarded to the va ag's office...they may think i was kidding, i am not

I know rio has a lot of payday loan names. What are they or where can I locate all of the names?

My loans with Rio Resources were through instantcashloantillpayday.com and nofaxingpaydayloan.com. I know there are others, but I am not sure who they all are.

My RIo loan was through TenDollarPaydayLoan and they are listed as MTE financials Services dba Rio Resources

The list is long but here are some of the names.

MTE Financial Services
Rio Resources
Quickest-Payday-Loan.com
Your-Approved-To-1000.com
1000 Payday Cash
Emergency-Cash-Loans.com
Payday-Loan-Online-1000

Quote:

The nice thing is that probably all of us, definitely me are permanently blacklisted from payday loans! No matter how broke we ever get, we can never get sunk in that ship again! Hallelujia!

That's true, Polly, I don't think there's a payday loan in creation that would touch any of us. What a doggone shame.

Oh I'm so disappointed that they don't want us as customers - NOT! Thank goodness and congratulations to all of you who are no longer welcome as customers of the payday loan sharks!!