CMG Group LLC - Is it a legitimate payday loan company?


CMG Group LLC is an internet payday loan company. Consumers complain that this company is not licensed to do business and it often engages in various illegal activities. Some of the consumers have shared their dissatisfaction with this company in the DebtCC forums.

Does CMG Group follow illegal business practices?

There are a lot of people who complain that this company does business illegally. Given below are some of the reasons why they think that CMG Group LLC follows unfair and illegal business practices:

  • They deposit money without any approval: The payday loan company is accused of depositing the loan funds into consumers' bank accounts without their approval. When you take money from an online loan company, you are supposed to sign electronically to agree to the terms of the loan. But a consumer complains that the company deposited a loan amount of $200, even though he did not sign on any loan agreement. Find more.
  • They withdraw money without intimation: One of the common complaints against this company is that they withdraw money from consumers' bank accounts without intimating them. One such person says that the company took out two payments of $60, but he was never informed when and how much money they would take from his account. Get the details on this.
  • Absence of paperwork and clear loan terms: CMG Group payday loans company does not always provide proper documentation stating the terms of the loan clearly. A customer says he got a loan from this company after being disqualified initially. But he never got any paperwork from the company. He neither knew the terms of the loan nor had any contact information about this company so he could cancel the loan. Know more.
  • Violation of agreement: A customer alleges that CMG Group LLC did not follow the terms of the loan agreement. He says the company was supposed to withdraw money on a certain day as per the agreement. But they kept taking money from his account at various time until the account was temporarily closed. Find more on this.
  • They credit excessive money: A consumer says that the company credited as much as $2340 from her bank account for a loan of just $300! She had to close her account finally to stop losing her hard-earned money. Check it out.

What action can you take against the payday loan company?

If you are not satisfied with the CMG Group LLC payday loans company and you think it is following illegal business practices, you can take the following measures:

  • Check if the company is licensed: You should first check if the company is licensed in your state. Many of the payday loan companies do not have license to do business. If you find out that the company is not licensed in your state, you are liable to repay only the principal amount and no interest at all.
  • Reverse unauthorized debit: If CMG Group LLC debits loan funds into your account without your approval, you should contact your bank to reverse the debit and have the money sent back to the loan company.
  • Close your bank account: If the payday loan company is taking money out of your bank account, close it as soon as possible. If it is not possible for you to close the bank account, contact your bank manager and tell him that you do not authorize any payment to this payday loan company from your account. Also ask him to block any withdrawal attempts on your account by this company.
  • Report any violation to FTC: File a complaint against them with the FTC if they violate the Federal and state laws. You can also report their illegal business practices to the state Attorney General's office or to the Better Business Bureau.

In case you want to contact CMG Group payday loans company, you can use the following details:


CMG Group LLC Address: 2 E Gregory Blvd Ste 200, Kansas City, MO-64114-1118


CMG Group LLC phone number: 866-516-9300

Posts: 104
Credits: 5679.09
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Are CMG Group LLC licensed lenders. I found a CMG group LLC address in Nevada, is this correct?

They put $300.00 in my account that I did not authorize and they have taken out $180.00.

I filed a complaint with my Attorney General in PA and also the AG in Nevada.

Does anyone have anymore info on them??




Unregistered

Sub: #1 mw 2
Fri, 06/22/2012 - 09:57

i am having the same problem how cud they give me money that i did not authorize with no phone number no promisary note r nothing now they r trying to get an address for me to serve me with legal pappers....kiss my ass




Unregistered

Sub: #2 [EMAIL="cuttergroupinfo@cwbservices.net"]cuttergroupinfo@cwbserv
Thu, 05/10/2012 - 11:27




Unregistered

Sub: #3 Cutter Group Email Address
Thu, 05/10/2012 - 11:25




Unregistered

Sub: #4 I had no problem
Tue, 07/12/2011 - 12:10

I took out a loan with CMG last year and I didn't have a problem. All Payday loans can be very pricey if you don't pay off the loan right away. Otherwise, they will continue to charge you interest until you dayoff the loan in full. It doesn't matter if they keep withdrawing interest from your bank account. You will still have to payoff the full amount with another interest charge on your next payday. Everyone should try to stay away from any Payday Loan Companys, but if you need an emergency fund, make sure you pay it back as soon as possible. They do allow you to pay a portion of the balance to reduce interest fees if you can't repay it right away. If I was in need of an emergency fund, I would use this company again.;)




Unregistered

Sub: #5 dissatisfaction
Mon, 06/13/2011 - 05:31

i never applied for a loan with this company i applied for one with speedy cash who called to verify all my information. i thought everything was good until i noticed that speedy cash had sold my information to them i never typed in cmg group llc as a search i went directly to speedycash.com highly dissatisfied i cant believe with all these complaints from people all over the country being the same and the BBB, AG and the FDIC (banking commissionaire)




Unregistered

Sub: #6 the same exact thing happened to me. what I did was send the mon
Fri, 06/10/2011 - 09:38

the same exact thing happened to me. what I did was send the money back immediately and I closed my checking account as per the bank's recommendation.Today they called my place of employment and told my manager that I was involved in a fraud. I had to send them a cease and desist letter and now I think I should go to the attorney general or the FTC.

Jessica Ryan




good.nelly


Posts: 2313
Credits: 49549.55

Sub: #7 If they have debited your account illegally, then you should put
Wed, 06/01/2011 - 03:12

If they have debited your account illegally, then you should put a hard debit check on your account.


http://www.facebook.com/?ref=home#!/profile.php?id=100002227460566




Unregistered

Sub: #8 866-516-9300 I have th same problem never authorize them to put
Wed, 05/25/2011 - 08:23

866-516-9300
I have th same problem never authorize them to put money in my account, sisnt check my statement right away, and they have debited my account 4 times.:confused:




Unregistered

Sub: #9 :Dclose your bank account they can't take anything that isnt the
Thu, 05/12/2011 - 09:57

:Dclose your bank account they can't take anything that isnt there. lol




Unregistered

Sub: #10 My mother also had $200 deposited into her account without her k
Fri, 04/29/2011 - 16:40

My mother also had $200 deposited into her account without her knowledge. I sure wish i would have found this site before she even looked at that site!! If i tried something like that, i would be thrown in prison for years. Why is it okay for CMG to do this???
Thank you all for your info.




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