Debtconsolidationcare: Internet's first get-out-of-debt community
473,117 members

Internet's first get-out-of-debt community 472,096 members


Debt Consolidation Forums Payday Loan help

Atlas Money Online And Not Sure What To Do



Nate2783

Sub: Atlas Money Online And Not Sure What To Do
Wed, 15/06/2011 07:08

Well with help from this site I have taken back control of my bank account. I have payment arrangements in my budget with all lenders but one.

A little info I live in Missouri. I have a pdl that I can't seem to get to work with me. They are Atlas Money Online. I borrowed 300.00 from them and now owe 567.50.

I have sent certified mail to them the c&d as well as the revoke of wage assignment and I gave this to my payroll dept as well. I have filed complaints with the ftc, my ag, and the bbb. They refuse to listen to me. They threaten to call my work if I don't call them which I do and get a vm and I leave a messge that I will only contact them thru email. So they call me at worrk 3 times every other day. Then I got an email today saying:

"We still have no response from you regarding your account. We have made several attempts to contact you for this matter, but all our attempts have failed.
Your entire account is now seriously past due. Unless we receive payment from you within FIVE BUSINESS days, or can work out a mutually agreeable arrangement to discharge this obligation, we will report the matter to the retail credit companies which will negatively impact your credit rating.
Subsequently, the account will be turned over to an outside recovery company or to our attorneys for further action. Since this is a costly procedure for both of us and will negatively impact your credit rating. I would suggest that you call immediately so that we can clear the matter at once without resorting to such procedures.
Once you have paid your balance you will be eligible for a Line of Credit up to $300!

Please call 1-866-935-2336 ext. 502 to discuss repayment with your account manager Todd Smith.

Or, Click for Live Chat with a live representative during business hours."

One day I spoke with someone and said the word hell and they hung up on me. I really don't feel like dealing with this going on my credit nor getting an attorney involved from this company but they won't give me an address to send payments, no will they stop calling me at work, nor will they accknowledge emails I have sent.



Article Rating: 
Unregistered

Sub: #1 LegalityWed, 06/15/2011 - 07:08



You should be seeking the advice of a lawyer, not anonymous users of a message board. Interstate and International Commerce Laws also affect the transactions you make, not just your local state law. UCC (Uniform Commerce Code) has addressed most recently laws governing internet commerce, not requiring a company to be located physically within your state, only to be able to do substantial business through a website with people within your state. Please consult a lawyer. Please.


Unregistered

Sub: #2 I got this email from missouri Finance: Atlas Money Online isTue, 11/02/2010 - 10:44



I got this email from missouri Finance:

Atlas Money Online is not currently licensed by our office. At this time there is no statute which requires a lender operating over the internet to be licensed. This activity falls under the interstate commerce clause as far as the lenders are concerned. Missouri does not recognize the loan as being valid; however, we do not have jurisdiction to act on an unlicensed lender at this time. Perhaps that will change in the years ahead through the legislative process.

Federal law states that any electronic authorization may be revoked by the consumer. Therefore, you could force the lender to stop running debits through your bank account. Of course, we would encourage another means of payment with the lender until the matter is resolved.

Please give our office a call for further suggestions on how to deal with the lender(s) in question.


Shazzers
Shazzers


Posts: 17128
Credits: 158843.5

Sub: #3 Quote:Originally Posted by AnonymousSo are they legal or not legTue, 11/02/2010 - 07:37



Quote:
Originally Posted by Anonymous
So are they legal or not legal? I am confused but I don't want to make the wrong move and get myself in deeper than I already am right now.

If they aren't even located in the U.S., they aren't legal.

Visit my blog-TAKE CONTROL!
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates!
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws


Unregistered

Sub: #4 So are they legal or not legal? I am confused but I don't want Mon, 11/01/2010 - 15:53



So are they legal or not legal? I am confused but I don't want to make the wrong move and get myself in deeper than I already am right now.


Unregistered

Sub: #5 So does this mean it's an illegal lender or no? I am trying to Mon, 11/01/2010 - 12:24



So does this mean it's an illegal lender or no? I am trying to figure this out cause I don't want to cause more harm than good.

I did get a response from:
Consumer Credit Specialist | Missouri Division of Finance
Department of Insurance, Financial Institutions and Professional Registration
301 West High Street, Room 630 | P.O. Box 716
Jefferson City, Missouri 65102

Apparently I guess they are looking into the matter from the complaint I filed with my AG


triniskier
triniskier
Debt Samaritan
Posts: 166
Credits: 1434.1

Sub: #6 so how many different payday loan lenders does this place in SurSun, 10/24/2010 - 12:18



so how many different payday loan lenders does this place in Surrey, British Columbia have.
there is one i would like to know about. They are called Zip19. I am interested cause if they are illegal anywhere in the states and some on the net have said they are very legal and can do business anywhere in USA. asking cause i had two or three loans go into default and i was only able to pay half of one.


Unregistered

Sub: #7 Todd Smith is in surrey BC CANADA and the actual loan centre is Sun, 10/24/2010 - 01:36



Todd Smith is in surrey BC CANADA and the actual loan centre is in West Vancouver, BC CANADA.
The same company that owns atlas money online also has:
EASY CASH ONLINE
MY QUIK LOAN

ARROWHEAD INVESTMENTS
YES YES CASH
PARADISE CASH
TOTAL LENDING
COLD CASH TODAY
PAY DAY 2 GO
ZIPPY CASH
and many others.
If you read your contract....it tells you their bank is in Canada...something your bank should have told you. They are payday loans disguised as a line of credit. They still take payments every two weeks which....is a roll over in BC and many states they loan in.


Unregistered

Sub: #8 Well this is amusing. I call the company today and said won't hMon, 10/18/2010 - 16:07



Well this is amusing. I call the company today and said won't happen you can't mail the payment. Said the only way you can pay is through debit card or money gram. Told them either I get an address or no payment and was telling them my rights and they just put me on hold and don't come back.


Unregistered

Sub: #9 Well this loan I have paid back nothing. I have paid in full anMon, 10/18/2010 - 08:07



Well this loan I have paid back nothing. I have paid in full and reborrowed 4 times previously. As far as filing complaints I have already filed with the FTC and my AG.

They refuse to give me an address. I have tried multiple times and I said the word hell and they hung up on me.


needhelpinCA
needhelpinCA
Posts: 76
Credits: 980.85

Sub: #10 nateapan, you may want to register so you can edit your posts inFri, 10/15/2010 - 13:54



nateapan, you may want to register so you can edit your posts in the future, but it's not a good idea to post personally identifiable information in a public forum..i'm sure a moderator will be by shortly to help take that information out of this post for you.

...as far as advice, keep sending you letter and ignore their threats. On the off chance they DO file something on your credit report, it'll be easy to get it removed since they are ILLEGAL. You may want to consider filing complaints with the BBB, FTC and Missouri attorney general.
How much have you paid them so far? Has it been more than what you borrowed? If not, you can offer to mail a money order to a physical address. If you've paid back more than you borrowed, they can go pound sand.


Pages

Add new comment

Full HTML

  • Web page addresses and e-mail addresses turn into links automatically.

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd><img>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.
Share post


Page loaded in 1.321 seconds.