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Atlas Money Online And Not Sure What To Do

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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.

They aren't even licensed in your state which would make them ILLEGAL. Also, I would like to know what they heck they are talking about when they threaten to report you to retail credit companies, it's obvious they aren't very bright! I am going to do a little research on this company and get back with you as soon as I am able.

Sub: #1 posted on Thu, 10/14/2010 - 09:01

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

Do a search of this forum about Atlas and you will see there are many other threads regarding this lender.

They can threaten you all they want, but the bottom line is they can't DO anything, because they aren't LEGAL! Keep hanging in there, wait them out, don't budge, offer them payments, ask for an address where to send them, and make it CLEAR, no address means NO payments, also make it clear to them, there is NO negotiating, these are YOUR terms, take them or leave them. Then forget about them. Whether you pay them or not they WILL harass you, even if you paid them every dime THEY are asking for, they would STILL harass you for MORE, so stand your ground.

Sub: #2 posted on Thu, 10/14/2010 - 09:08

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

Ok thank you for the answers. It refreshing to get answers from people that have gone through this.

Sub: #3 posted on Thu, 10/14/2010 - 21:39


Originally Posted byAnonymous
Ok thank you for the answers. It refreshing to get answers from people that have gone through this.

You're welcome, please keep us posted!

Sub: #4 posted on Thu, 10/14/2010 - 21:50

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

Well I emailed them again this:
"This letter is to inform you that I am aware of the FACT that the loan
you issued to me, is NOT legal or binding in my state. For your
convenience, I have included my state payday loan laws below.
(Internet Payday Loan Lenders must be licencensed in the state of
Missouri in order to loan to Missouri residents. According to state
laws, a payday loan lender cannot charge interest and finance fees
that exceed 75% of the initial loan sum even if the loan is renewed.)
The state of Missouri requires Internet payday lenders to be licensed
in MY state. I have already researched this information, your company
does NOT have a license to lend in the state of Missouri, if I am
mistaken I will need proof in the form of a license number so that I
may verify it with my Attorney General. I am bound by the state laws
where I reside. As I have no presence in your country therefore I have
no legal obligation to the 'governing laws' you may have detailed.
Be advised that as of today July 14th, 2010 I am revoking ANY and ALL
ACH authorizations with your company from debiting any AND all of my
personal accounts, per Federal law, Regulation E Section 205.10
Preauthorized transfers. I also revoke ANY and ALL wage assignments I
may have signed, by you, including but not limited to; any of your
affiliates, dba's, and collection agencies assigned to this account.
None of the above no longer have my permission to access my accounts
or impose a wage assignment.
I will only communicate to resolve this matter via email. If you
ignore this notice and attempt to contact me or any of my references
via telephone, you will be ignored and any payments owed will be
delayed. I am willing to pay the principle amount of the loan only,
however, no address means NO payments, this is not negotiable.
If you do NOT reply to this notice within 48 hours I will be forced to
file complaints with my Attorney General Chris Koster, the BBB and
the Federal Trade Commission. If you reply to this notice with any
misleading legal implications or menacing course of actions you are
unable to follow through with, I will be forced to take actions
against you which could cause you to lose your license in British
Columbia and cause damage to your reputation, which could potentially
decrease your clientele!
Nathan Last name removed.
and I got this response:
We have been working hard to establish contact with you in order to reach an amicable resolution for both parties. In order to keep your credit rating with us in good standing, we need this account to be brought to a ZERO BALANCE. You need to be aware, we do report to all relevant credit reporting authority???s which may cause detriment to any future dealings you may have in a number of different industries.
If you contact us immediately and we come to a satisfactory conclusion, we will attempt to assist you in repairing any problems that may have occurred when you breached the terms and conditions of your agreement.
Failure to contact our offices will jeopardize your ability to advance with us again and may lead to your account being moved to a OUTSIDE RECOVERY AGENCY. This could cause you to incur additional fees as well as negatively impact your credit.
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.

Sub: #5 posted on Sat, 10/16/2010 - 02:11


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. 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.

Sub: #6 posted on Sat, 10/16/2010 - 02:24

needhelpinCA needhelpinCA

(Posts: 80 | Credits: 9.81)

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.

Sub: #7 posted on Mon, 10/18/2010 - 20:37


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.

Sub: #8 posted on Tue, 10/19/2010 - 04:37


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:

and many others.
If you read your 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 a roll over in BC and many states they loan in.

Sub: #9 posted on Sun, 10/24/2010 - 14:06


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.

Sub: #10 posted on Mon, 10/25/2010 - 00:48

triniskier triniskier

(Posts: 184 | Credits: 14.36)

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