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Problems with Loan Point USA

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Has anyone had any problems in Rhode Island with Loan Point USA??? I took out a $500 loan and to date have paid them $600. As far as I can tell they are not legal in Rhode Island so as far as I am concerned I have paid them what I owe and they actually owe me $100. I have sent them a letter stopping my ACH with them via email. They replied and told me to call Customer Service - when I did they were rude and said that I only paid interest on the loan PLEASE HELP ME - my next payment is due to come out tomorrow for $150 and i need to pay my rent which is late.

Thank you

Have you talked to your bank about putting a hard block on your account?

Sub: #1 posted on Thu, 01/15/2009 - 23:27

beli2005 beli2005

(Posts: 882 | Credits: 56.68)

I'm dealing with Loan Point USA now. The last I heard from them, they wanted half of the principal to settle - after I had already paid $1200 for a $500 loan. They said the same thing to me....the money I paid was in laon fees.
Let's keep in touch...we may need to vent to each other.

Sub: #2 posted on Fri, 01/16/2009 - 02:16

Ladielucille Ladielucille

(Posts: 49 | Credits: 11.81)

I am calling my bank right now to put a hard block on my account. Can someone tell me if these loans are in fact illegal in Rhode Island.

Ladielucille - I agree please keep in touch and let me know how you make out

Sub: #3 posted on Fri, 01/16/2009 - 02:24


Not a whole lot of information on Payday loan laws for Rhode Island. (Crap!)

Rhode Island State Information

Legal Status: Legal (Applies to check cashers only)

R.I. Stat. Ann. ???? 19-14.4-1 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 13 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3/$500
Rollovers Permitted: One (rollover)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Rhode Island Department of Business Regulation
Address: Division of Banking, 233 Richmond Street, Suite 231 Providence RI 02903
Phone: (401) 222-2405
Fax: (401) 222-5628
Regulatory Contact: Dennis F. Ziroli,, Assoc. Director & Supt.

Sub: #4 posted on Fri, 01/16/2009 - 05:46

cannr cannr

(Posts: 9317 | Credits: 1298.44)

I'm not showing Loan Point USA as licensed in Rhode Island. However, I am seeing they are part of Geneva Roth (Lord have mercy....). Hang on and I'm checking to see if they are licensed in the addresses they show which is Utah and Delaware.

Sub: #5 posted on Fri, 01/16/2009 - 05:50

cannr cannr

(Posts: 9317 | Credits: 1298.44)

Nothing for Delaware. However, Geneva Roth is licensed in Utah. Hang on and I'll show you what I found.


That is what is licensed in Utah.

Here is what it shows up as on the BBB:

Geneva Roth Capital
Loan Point USA
1338 South Foothill Dr # 325 PMB
Salt Lake City, UT 84108

According to the BBB, they have an unsatisfactory rating due to unresolved issues. Go figure..........

Sub: #6 posted on Fri, 01/16/2009 - 06:02

cannr cannr

(Posts: 9317 | Credits: 1298.44)

Hang in there. I am having problems with them to. I paid them $1,350.00 for a $500.00 loan and they are trying to say that I still owe them. Can you believe it? I filed a complaint with the BBB on 1/2/09 and Loan Point hasn't responded yet.

Sub: #7 posted on Fri, 01/16/2009 - 06:32

divaesque130 divaesque130

(Posts: 46 | Credits: 13.22)

Did you file with the state AG also??

Sub: #8 posted on Fri, 01/16/2009 - 06:33

cannr cannr

(Posts: 9317 | Credits: 1298.44)

Yes, and I filed a complaint with the Department of Banking but these type of complaints do not seem to be high on the priority list for the AG in New Jersey. I am not ging up though.
I actually work for the state and I will bombard them everyday with phone calls and emails until someone listens.

Sub: #9 posted on Fri, 01/16/2009 - 06:58

divaesque130 divaesque130

(Posts: 46 | Credits: 13.22)

diva, good attitude! Now, I'm in Kentucky and got REAL anxious regarding the AG. They do take their time; however, they go through every single complaint to see if it's legit and needs action. That's why it takes them some time. I was ready to throw my hands in the air and say "FORGET IT!" when I finally got some responses from the AG. And, boy, did they ever help me! I had 12 stupid illegal internet pdl's (like an idiot) and they came through for me on every one that I didn't get resolved through the BBB. :D

Sub: #10 posted on Fri, 01/16/2009 - 07:03

cannr cannr

(Posts: 9317 | Credits: 1298.44)

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