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Letter from VIP Cash-QLoot Lawyer!

Date: Thu, 04/10/2008 - 13:37
Submitted by starkllr2 on Thu, 04/10/2008 - 13:37
Posts: 17
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So a couple of weeks ago, I filed complaints against all the PDLs I had with unlicensed/illegal lengers (I'm in Virginia).

Last week, I got an email from one of them, QLoot/VIP Cash, saying they considered my account PIF.

Today, I got a letter from their lawyer. It says:

"Dear starkllr2:

As counsel for VIP Cash/QLoot, I am responding to your Complaint No. XXXXX.

It is VIP's policy not to take any legal action to enforce repayment if its loans, relying, instead, upon the integrity of its borrower(s) for repayment. That said, VIP has written off your unpaid balance.

Also, VIP was not aware it was required to be licensed in Virginia, and has immeidately ceased making loans to Virginia residents. Coincidentally, VIP has recently retained D.C. counsel to process licensing applications in all states requiring licenses. Upon being formally licensed, VIP may, but will not necessarily, resume transacting business in Virginia."

How about that?


Quote:

Also, VIP was not aware it was required to be licensed in Virginia, and has immeidately ceased making loans to Virginia residents. Coincidentally, VIP has recently retained D.C. counsel to process licensing applications in all states requiring licenses. Upon being formally licensed, VIP may, but will not necessarily, resume transacting business in Virginia."


WOW! :shock: They actually put that in writing! I'm amazed! Great news, starkllr2! :D


Submitted by cannr on Thu, 04/10/2008 - 16:26

cannr

( Posts: 9317 | Credits: )


I am actually going through this-they had it in collections and someone called my grandmother and told her my husband would be arrested for fraud-because he didn't payoff this loan (I also live in VA) that he would be arrested for a criminal offense. Well, low and behold it scared us....we did some investigations online and found out this was illegal-we are in the process of getting them taken care of for good. This is just wrong....thanks for your information email!


Submitted by on Wed, 05/14/2008 - 04:37

( Posts: 202330 | Credits: )


I'm going threw the same thing with them now and as far as they had stop giveing loans to va residents thats a lie i had got one in jan and now there doing the same thing to me. They called my work told them he was an investergator on a case against me and gave out my ssn which is illegal. the same comp was sued last year and knew it was illegal in the state of va. I got the same lawyer that sued them last year for this.


Submitted by on Thu, 03/26/2009 - 10:09

( Posts: 202330 | Credits: )


Starkller2 If i gave you my email or my home address could you send me a copy of that letter from there lawyer stateting that it would really help me


Submitted by on Thu, 03/26/2009 - 10:43

( Posts: 202330 | Credits: )


does anyone know if VIP is licensed in Oklahoma?


Submitted by on Thu, 04/30/2009 - 06:32

( Posts: 202330 | Credits: )


yep truth in lending.gotta love america.where a moderator can delete your humanoid rhetoric.


Submitted by paulmergel on Fri, 06/12/2009 - 13:55

paulmergel

( Posts: 15514 | Credits: )


I hate to say I did borrow from but I paid it back and never had a problem.


Submitted by on Fri, 07/10/2009 - 13:43

( Posts: 202330 | Credits: )


I am also glad you were able to get out from under this loan but I hope you will consider taking further action against this "company". They let you out of your loan but many others are still trying to pay.

Their lawyer claims they didn't know they had to be licensed. I don't believe this and even if it were true, does ignorance of the law give them an excuse?

Internet payday loans are being illegally made in Virginia and we need to stop them.

Contact me if you want to discuss this further. I work in a coalition of people and groups that are trying to reimpose usury limits on these lenders.


Submitted by jay1111 on Fri, 08/21/2009 - 07:25

jay1111

( Posts: 2 | Credits: )


I have been trying to reach someone at VIP cash Qloop and for some reason I have
not been successful. I trying to find out how much I owe on my loan. You have
taking$150.00 out of my checking account since July. The loan was for $300 and
you are still taking $150 out of my account. Do your company have a contact number.

Clyde V.Williams


Submitted by on Fri, 11/13/2009 - 10:26

( Posts: 202330 | Credits: )


Quote:

Originally Posted by Anonymous
I have been trying to reach someone at VIP cash Qloop and for some reason I have
not been successful. I trying to find out how much I owe on my loan. You have
taking$150.00 out of my checking account since July. The loan was for $300 and
you are still taking $150 out of my account. Do your company have a contact number.

Clyde V.Williams



Evenin' Clyde -

Please ba advised that we are not VIP/Qloot. This site is an online community dedicated to helping people with debt and credit issues.

You'll find contact infomation for VIP/Qloot in post #10 of this thread.


Submitted by unclewulf on Fri, 11/13/2009 - 15:54

unclewulf

( Posts: 3172 | Credits: )


congratulations on your victory. everyone who they got a loan from and they were not supposed to be giving loans in that state should get a lawyer and sue them. Believe me, they knew what they were doing. they were just trying to be slick like they all do. They all know that they have to have a license to practice in a state.


Submitted by on Mon, 03/22/2010 - 14:00

( Posts: 202330 | Credits: )


So I don't know about anyone else.. but i didn't read the whole contract.. I was in a hurry and my family and i needed the money.. the 150 they take out of your bank acc is just to extend your pay off date! It's a rip off! we've been paying that twice a month for two months our loan was for 400 dollars! they made 600 off of us and we still aren't paid off! Companies like this should be put outta business.. they prey on the people who really need the help


Submitted by on Mon, 03/29/2010 - 22:36

( Posts: 202330 | Credits: )


Quote:

Originally Posted by Anonymous
So I don't know about anyone else.. but i didn't read the whole contract.. I was in a hurry and my family and i needed the money.. the 150 they take out of your bank acc is just to extend your pay off date! It's a rip off! we've been paying that twice a month for two months our loan was for 400 dollars! they made 600 off of us and we still aren't paid off! Companies like this should be put outta business.. they prey on the people who really need the help


you are right it is a rip-off,and totally illegal as they are not licensed to lend.that means the contract is worthless,and you only owe the principle borrowed.got to the sticky titled DEALING WITH ILLEGAL LENDERS.that will give you everything you need to deal with them.


Submitted by paulmergel on Tue, 03/30/2010 - 05:15

paulmergel

( Posts: 15514 | Credits: )


Quote:

Originally Posted by Anonymous
I have been trying to reach someone at VIP cash Qloop and for some reason I have
not been successful. I trying to find out how much I owe on my loan. You have
taking$150.00 out of my checking account since July. The loan was for $300 and
you are still taking $150 out of my account. Do your company have a contact number.
Clyde V.Williams

If this is for VIPcash/QLoot/DMA,Inc. I just called them at 1-888-678-2999. I thought they were taking too much money out of my account but didn't pay attention to the details: every time you pay interest you have to pay part of the loan, your loan is paid off in four payments (or at least mine will be). Call the number and they can tell you your balance due and how much your next payment will be.


Submitted by on Thu, 07/15/2010 - 14:57

( Posts: 202330 | Credits: )


:?:some one call my job told me that they where going to come to my job and lock me up thank god iwork for a lawyer i tld vip what happen and they told me that it was some indian scam but now iknow it is coming from them. i just rec'vd another v/m today when i got home from work


Submitted by on Thu, 11/11/2010 - 19:47

( Posts: 202330 | Credits: )


They called my work in kentucky told me that I had commit a felony and that I was going to jail and that I was lossing my job because I work for the federal goverment. After I filed bankruptcy.


Submitted by on Tue, 02/22/2011 - 04:19

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I am going to my attorney today


Submitted by on Tue, 02/22/2011 - 04:23

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