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Is 500 Fast Cash legal in Iowa




500 fastcash wouldn't be legal anywhere.they are unlicensed
therefore illegal.

Sub: #1 posted on Thu, 07/31/2008 - 03:29

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

paul is correct. . . 500 FastCash means MNE which equals illegal.

Sub: #2 posted on Thu, 07/31/2008 - 03:45

Unregistered


they are saying they are legal and trying to get me to pay double with finance charges, I borrowed $300 and paid $180 to them. How do I prove to them that they are illegal and get them out of my hair. I offered a $220 settlement and they wouldn't do it. Please help, I'm desperate

Sub: #3 posted on Thu, 07/31/2008 - 19:37

Unregistered


Is Geneva Roth legal in Iowa also if not how do I prove it?

Sub: #4 posted on Thu, 07/31/2008 - 19:43

Unregistered


You borrowed $300, paid back $180, you "morally" owe them $120. Don't offer them a penny over that. Send them an email, telling them that they are unlicensed, illegal and they can take your $120 or leave it. Are they still debiting your account? Have you asked them to stop? If you have taken any additional steps now might be the time to do so.

Sub: #5 posted on Thu, 07/31/2008 - 19:48

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

Scotty, Paul is correct, they are not licensed to lend anywhere. You don't have to prove anything to them, they have to prove it to you, ask them to send you their license number and where they are licensed. Give THEM the burden of proof. Here is an address for them I found while browsing the forum, I am not sure how accurate it is. Also, I will post your state laws.

500FastCash
515 G SE
Miami OK 74354-8224
or
PO Box 111
3531 P Street NM
Miami OK 74355

Quote:
Iowa State Information

Legal Status: Legal

Citation:
Iowa Code Ann. ???? 533D.1 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: $15: $0-$100; $10 per $100 thereafter
Finance Charge for 14-day $100 loan: $16.67
apr for 14-day $100 loan: 433%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Two
Rollovers Permitted: None (cannot repay, refinance or consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One $15 NSF fee (exclusive remedy)
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Iowa Division of Banking
Address: 200 East Grand Avenue, Suite 300 Des Moines IA 50309
Phone: (515) 281-4014
Fax: (515) 281-4862
Regulatory Contact: Rodney Reed,, Finance Bureau Chief
Regulator Website


Sub: #6 posted on Thu, 07/31/2008 - 20:07

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

my account is closed, i am emailing a c&d today with the request for proof of licencing in Iowa

Sub: #7 posted on Thu, 07/31/2008 - 20:11

Unregistered


I closed my account and am emailing a c&d to stop the calls, do I need to contact the division of banking on these guys

thanks for all the help

Sub: #8 posted on Thu, 07/31/2008 - 20:15

Unregistered


good job thus far scotty,now they will lie and do everything but
provide proof or license to try to get more money out of you.
we are here for ya,keep us posted. :D 8)

Sub: #9 posted on Thu, 07/31/2008 - 20:16

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

I see that you are now sending your C and D letter and closed your account. That is a good thing. You will hear from them now.

Sub: #10 posted on Thu, 07/31/2008 - 20:52

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

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