I applied for a payday loan to about 4 websites in November. I thought all rejected my "application", but evidently one sent me an email (I didn't know it went to my "junk" folder). I became relived I didn't get accepted because of what I learned shortly after - not the least of which was that it's illegal in the STate of GA to opperate this type of business even if over the internet.
At the end of January I rec'd a $150 deposit which I disputed with Suntrust when I learned it was from Cash IN Minutes. I then had two payments of $66 deducted from my account (didn't notice the first one) and disputed that with Suntrust. They blocked Cash IN Minutes from deducting anymore from my account.
I recieved a phone call from National Processing (their hired collection company) who told me I owed an additional $500 and they would be charging me with Check Fraud should I not pay them that minute. The called identified himself as "Inspector Someone" and cut me off as I asked questions, ending up yelling at me and hanging up on me.
My father is an attorney and he advised me to call my District Attorney, which I did. They directed me to the Attorney General's office after confirming this was an illegal company. A recent law was passed in GA in order to shut down these companies.
The atty General's office told me today that they would send a Cease and Desist letter on their letterhead to this company and send me a copy. They said that these companies must stay out of Georgia (the only state in the Union where it's an illegal practice) and over the internet is still coming into Georgia. I was referred to a nearby attorney who specializes in this. I also was asked to email my evidence - I also recorded a phone call. Very vicious tactics by the way.
My 3 children's father passed away less than a year ago and because of my foolishness and tight financial situation I succummed to the tempting pop ups. I will help in any way I can to shut down this company and others like it. I am a manager at a Mortgage Company and we bend over backward to comply with all Predatory Lending laws. Texas requires that the APR be disclosed by these companies and even if I didn't have the Georgia law on my side, they violated the laws of their own state.
I'm interested to know if anyone else in Georgia (or anywhere, really) have had dealings with this company. Usually their bully tactics work and they have a VERY low default rate - people get scared and pay up, according to the Attorney General's office. It's unreal. Banks and Mortgage Lenders are held to strict standards through every step of the lending process to ensure the protection of consumers - rightfully so! The same should apply to these loan sharks and they should be ashamed of themselves.
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