Geneva Roth Cap - Beware of loan shark

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worried

Posted: Tue Jun 24, 2008 10:17 am Post subject:

I took out a payday loan in 2006 because of a dire situation. I repaid the loan from my bank account at the time. This company continued to charge my account and force me to close the account. The bank is now trying to get me to pay for the money that was negative on the account. I went to the bank in the beginning when the company would not stop charging and they stated they could not reverse the debits. Now this same company is calling and harrassing me at work and on my cell. They are stating that I have legal action pending and they have verified my employment. It is all very disturbing because I paid the $300 loan off in 2006. Then they ended up getting about $1500 more in charges because I could not stop the draft. Does anyone have any suggestions on how to stop them from harrassing me? This can not be legal.

larry

Joined: 27 Jun 2007
Posts: 3328

473.40 Dollars($)

Posted: Wed Jun 25, 2008 5:21 am Post subject:

Hi Guest. If you have paid the debt and even after that they are harassing you then I think this is against Fair Debt Collection Practice Act (FDCPA). So you should file a complaint in the attorney General's office in your state or FTC. Best of luck, Larry

Jessica
Jessica

Community Mentor

Joined: 08 Jun 2004
Posts: 673
Location: OHIO

117.39 Dollars($)

Posted: Wed Jun 25, 2008 5:43 am Post subject: RE: stop harassment by payday loan company

Hi Guest, Welcome to our community forums. You can ask the company to validate your debt. This will help you find out how much extra they are charging and what they have to say regarding charging you for more even after you've repaid all debts. For this, you need to send them a debt validation letter. Remind them of the fact that they are violating the FDCPA. Also, has the SOL expired? _________________ Home buying made simple with Community booklet

liz

Guest

0.10 Dollars($)

Posted: Sun Jun 29, 2008 9:58 pm Post subject: downright absurb

so I took out a 200.00 loan about two years ago with this company, paid it all off, closed the account, went to a different bank opened this account no less then a month ago, now they have just debited $400 dollars. Is it true they can do this without me signing some sort of authorization?? i am faxing in an unauthorized ach debit form to my bank, and closing it, for good.

adonis
adonis

Joined: 22 Oct 2005
Posts: 1366
Location: ALASKA

124.88 Dollars($)

Posted: Mon Jun 30, 2008 12:13 am Post subject:

yeah Liz, it is better to close the account. But let me tell you, the company cannot simply take out money from your account without your authorization. It's something illegal that they're doing. They've somehow received your new account information and that's how they got the chance to withdraw from your account. So, what have you thought? would you sue them now? _________________ Procrastination is the enemy of your financial sucess

Guest

0.10 Dollars($)

Posted: Mon Jun 30, 2008 8:12 am Post subject: Rip off artists

Made a payday loan for 400.00 with them 8 months ago. After debiting my account for a total of 1100. they still stated I owed them 400.00. believed that i was paying down my balance as I never received an extension form.

Niicss
Niicss

Joined: 03 Oct 2005
Posts: 1047

156.15 Dollars($)

Posted: Tue Jul 01, 2008 2:16 am Post subject:

Welcome Guest. You can close your bank account so that they cannot take out money from your account. Even after that if they continue to harass you then you should file a complaint with the attorney general's office in your state. Let me know if you have any further queries. _________________ Good is the Enemy of Great.

yates

Guest

0.10 Dollars($)

Posted: Sat Jul 05, 2008 7:45 am Post subject: loans

I wish I would have seen this before!!! Talk about taking advantage of someone in need of help! The loan was to be completed months ago but we can't get them to stop taking money out. We put a stop payment at the bank and they changed GRC changed their name with out bank and then added $300.00 to the amount that they usually withdraw at 11:00 pm July 3rd so that we couldn't do anything about it or call anyone including our own bank before Monday July 7th. By then it will be too late. I hope others look this company up before they take out a loan!!!!!

shanniegirl

Guest

0.10 Dollars($)

Posted: Sun Jul 06, 2008 3:57 am Post subject: shgordon38@yahoo.com

does anyone have an email address for this company. WHen I was finally able to get through by phone. I was told I did not need there email address they were not interested in anything I had to send or say unless it was money. My daughter was also contacted by a Mr Shaw who was trying to pass himself off as a lawyer who wanted my daughter to tell him were I was because he had the police ready to arrest me for embezzelment. He told her she was going into a foster home and would never see me again. Nice people they are. If anyone has an email address for these people I would really appreciate it.

larry

Joined: 27 Jun 2007
Posts: 3328

473.40 Dollars($)

Posted: Mon Jul 07, 2008 4:07 am Post subject:

Hi shanniegirl. Welcome to the forum. I think their email address is "tjohnston@loanpointusa.com". Hey they cannot say that they "had the police ready to arrest" you. This is against FDCPA. So you can even file a complaint against them with FTC and State's Attorney General's Office in your state. Best of luck, Larry

omgitsliz

Joined: 09 Jul 2008
Posts: 1

1.48 Dollars($)

Posted: Wed Jul 09, 2008 7:30 am Post subject:

PostPosted: 29 Jun 2008 11:13 pm Post subject: yeah Liz, it is better to close the account. But let me tell you, the company cannot simply take out money from your account without your authorization. It's something illegal that they're doing. They've somehow received your new account information and that's how they got the chance to withdraw from your account. So, what have you thought? would you sue them now? _________________ Procrastination is the enemy of your financial sucess No I dont think its worth the money to sue them. After all shouldnt they have been shut down after hearing all of these other situations? How in the world are they getting away with this?

Caron

Moderator

Joined: 19 Jul 2005
Posts: 1407
Location: florida

236.21 Dollars($)

Posted: Thu Jul 10, 2008 6:10 am Post subject: RE:

Hi Omgitsliz, It's obvious thinking that the company should have been shut down. But the fact is they are there in the market and god knows how. They've even relocated their office several times and perhaps that's the reason why people can't contact them. Even their contact details, phone numbers keep changing from time to time and you'll even get wrong numbers if you ask for one. To me it's a mystery as to how the company keeps operating in spite of strict laws prevailing in the industry. _________________ Mortgage Shopping made easy with booklet

tatargrl

Guest

0.10 Dollars($)

Posted: Sun Jul 13, 2008 11:11 pm Post subject: Geneva Roth Cap-This may help!

I get on my friends all the time about these rip off loans! Just like any cash advance company Geneva Roth will continue to take out the fee "only" unless instructed to pull a different amount from your account. The balance owed to them is only considered paid in full if they pull out the entire amount borrowed and the fee at one time. So say for instance: they deposit 200 into your checking account in two weeks they will pull 60.oo two more weeks later they will pull 60.00 and so on. until you instruct them to pull out 260.00 all at once they will continue pulling 60.00 even if you've paid well over 200.00 in fees already If they do not send the pay down form, it is up to the borrower to contact them, fax, email etc in order to get a form or you can always just send in a written request to thier fax # stating how much you would like for them to pull from your account (make sure you keep a record of the fax you sent, time, date, and do a follow-up call with the company to make sure they received it). Even if you've paid them a sum or three times the amount borrowed, if you never ask them to pull more than the min or the full balance for that matter they will of course make big money for themselves. If in fact, you have requested them to pull the full amount borrowed plus the fee for that week, always make sure that you keep a print out copy from your checking or savings account as proof that it was paid. Since there are so many companies out here who make mistakes on a regular basis it is always a good idea to keep a record or certain payoff's that you made including: paying in full a car, credit card, cash advance, etc. and keep these records for at least 2 to 3 years in a safe area. There has been numerous times when I've had to use my records from the past to prove things even as far as getting back rental deposits. Therefore, if they continue pulling from your account then you will have proof that you can send to them along with a letter to refund any monies paid after your balance was completed. If Geneva Roth doesn't comply and correct thier mistake then I would advise taking this issue up with your banking company and showing them this proof to see how they can assist you. If this is of no help then I would suggest contacting the BBB and continue working with them non-stop until this issue can be resolved. Many states even have thier own BBB close by, so you could also try going directly to them. Closing your account- I've heard of people doing this before, and because I do not agree with taking a cash advance myself because I feel they are rip off's I can understand how someone can feel that they've paid enough, and would want to find a way out of it. However, companies like this finding your new banking account information isn't un-common. In fact, it happens at more cash advance companies than just Geneva Roth. Just like any collection practices with any car lot etc a company will go to numerous lengths that you may not agree with in order to satisfy the terms of a loan agreement. Let's face it companies like this make their living on mainly low-income individuals who see taking a cash advance as an easy way to get what they need or want at the time. Often companies do not even do a credit check because they already know that they will be charging 18%, 20%, and even higher on the money they lend. These companies make thier living based on the fact that they know that 9 out 10 times the person borrowing the money will not be able to pay the loan plus the fee back within their next few pay checks. But lets face it we live in a greedy world in which everyone is trying to make the next quick million, and Geneva Roth just like all of these companies found a way to become just like another high interest credit card company who has a grasp on your account and pay check before you even have a chance to look at it. Like I said before I do not agree with taking cash advances, but I understand that times can be tough out here. So if you have to take out one have a plan to pay it back as soon as possible even if you have to pay it down as you go. I know it may be hard to swallow the amount to pay it off or down, but in the long run you'll be much happier not having to pay all of the amounts a company like this can get. Don't run from them and try to get a new account even though you may feel it is an easy way out, because as you've read on here many people have tried it and it hasn't worked. I've had friends who have taken one with other companies and they found them to. However, if you have never requested funds from this company and they desposited it into your account, don't use it contact your bank immedietly and inform them of this so they can make sure to get it reversed. so to recap: 1. if possible "never"take out a cash advance they can be a nightmare and you can end of paying 4 and 5 times the amount back! If you are considering it because of something you just "want" wait it out until you get your next check. 2. Try to borrow from a family memember, friend, etc even if you don't want to ask first because 9 times out of 10 they won't charge you any extra. Also, if they loan it to you make sure to pay them back! You may need to borrow from them again in the future, and people are more willing to help those who pay them back when they borrow than those who do not. even if you are having a difficult time let them know do not run or hide, and make sure to pay them back even in small amount in a timely manner ( not in a year or two this is taking advantage). 3. Check the BBB website before working with a company generally this can help you decide if the company is worth working with or not. 4. Make sure the company has a valid working # or a 800#. Some companies do not have an 800#, and trying to contact them may cost you more on your phone bill. Try calling the company for a few days to see how fast or if they answer their phones, this will help you determine if you could contact them after you start working with them. 5.Get your loan documents up front before taking a loan and keep all of your records, including receipts for at least 2 to 3 years in a safe file. 6. KNOW YOUR RIGHTS!!!!! Best Wishes Everyone

adonis
adonis

Joined: 22 Oct 2005
Posts: 1366
Location: ALASKA

124.88 Dollars($)

Posted: Mon Jul 14, 2008 2:19 am Post subject:

Welcome Tatargrl, That's some cool advice . Anyone dealing with payday loan companies must go through your suggestion to avoid any problems later on. I find so many people coming here and sharing their problems with the payday loan companies. And it's not about geneva roth only, there are many out there doing business in the same way. I suppose you're correct in saying that these guys out there do business keeping in mind they'll make a lot of dollars by harassing people, withdrawing money out of their accounts every now and then and charging a lot of fees for any simply thing that the debtor may ask for. Thanks for sharing the info. Do keep in touch and feel free to share your views and knowledge here in the forums. _________________ Procrastination is the enemy of your financial sucess