I was told on another thread that LLS America (Little Loan Shoppe) is not licensed in FL. I live in Florida it's a $300 Internet based loan from LLS (Little Loan Shop). They are charging me $105 in fees every 2 weeks on a $300 loan. I sent them the template letter stating they were illegal and this is the response I received. Where do I go from here, my loan isn't beind right now but it will be as of wednesday......please advise.
We are in receipt of your letter, and would like to take this opportunity to address you concerns. The Little Loan Shoppe (???LLS America???) prides itself in complying with the law and providing excellent products and customer satisfaction. We take very serious all complaints and allegations against our practice and procedures.
In order to provide the best services available to our clients we comply with best practices including federal banking guidelines such as the Truth in Lending Act and Regulation Z disclosures. As part of those disclosures, and more particular to the instant matter, is the fact that LLS clearly presents the following disclosure to its borrowers:
GOVERNING LAW: You acknowledge that we are a Utah-based lender, and you acknowledge that this consumer Unsecured Short Term Installment Loan Agreement is governed by the laws of the State of Utah. You acknowledge that Utah laws governing this Unsecured Short-Term installment loan agreements may differ significantly from the laws of the state where you reside. You agree that courts located in Salt Lake City, Utah, shall have exclusive jurisdiction and venue of any disputes arising from this Unsecured Short-Term installment Loan Agreement.
I would be more than happy to fax you a full copy of your contract please provide a fax number.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.