ED Magedson – Founder
Loan Shop Online2207 Concord Pike #250 Wilmington, Delaware United States of America
On 10/08 2009 I received a $400.00 loan. They took $240.00 out of my account on 11/18/2009.
We have had unauthorized withdrawals from our bank accounts. This forced us to close accounts and void all authorizations.
These circumstances gave us cause to be in contact with the Pennsylvania Banking Commission and the Pennsylvania Attorney General's Office where we learned this type of loan is illegal in this state. We were advised to repay only the base amount of the loan, which we will do as soon as banking cocerns are rectified.
We sent them a certified letter explaining these facts. They keep calling and telling me that I owe $640.00 which will increase the longer I wait to pay!
I spoke with a Don Hay today, read the letter to him, and he said they didn't care about our financial difficulties when I said I wouldn't be able to pay them until the third Wednesday in February from my SSI check.
This report was posted on Ripoff Report on 01/12/2010 01:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/Loan-Shop-Online/Wilmington-Delaware-19803/Loan-Shop-Online-LTS-Mamagement-Services-only-wants-to-argue-about-facts-Wilmington-Dela-553200. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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