- Report: #894033
Report - Rebuttal - Arbitrate
Complaint Review: One Click Cash
One Click Cash52946 Highway 12 # 3 Niobrara, Nebraska United States of America
One Click Cash Ameriloan, United Cash Loans Illegal Withdrawals From Account Niobrara, Nebraska
They could have told customers that they are not authorized to conduct business in California, but of course they won't tell us that because they are after the ridiculous fees they charge customers. They illegally try to charge double the amount of interest for a $200 loan.
I did not know that what the company charges is not legally allowed in CA, regardless of whether I agreed to their contract as I wasn't aware of Payday Loans LAW here in California at that time. I just wanted to make clear that it is just right to close the account because I have paid my due with repayments made on 2/21/2012, 3/21/2012, 4/20/2012, and 5/21/2012 in the amount of $60 each date for total of $240 (more than the $200 I originally borrowed).
Moreover, payday lenders are prohibited from doing "rollovers" to renew accounts here in California.
California licensed payday lender loans are subject to the following regulations:
After researching Internet payday loan laws in the State California, I have found that your Internet payday loan activity is actually illegal. I have also learned the following laws apply to payday loans in the State of California in general,
California State Information Legal
Citation: Cal. Fin. Code 23000 to 23106
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65 apr for 14-day $100 loan: 459%
Debt Limits: Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)
Collection Limits: Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Where to Complain, Get Information:
California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
I made a demand that no more ACH withdrawals be done from my checking account and a letter of PAID IN FULL sent to my home address and no damage shall be reported to teletrak, telecheck, or the credit bureau as I have taken care of my due already as protected by California Law. As they have no legal precedence in California, I demand a Cease and Desist on further actions on my account.
This report was posted on Ripoff Report on 06/06/2012 09:32 PM and is a permanent record located here: http://www.ripoffreport.com/r/One-Click-Cash/Niobrara-Nebraska-68760-7047/One-Click-Cash-Ameriloan-United-Cash-Loans-Illegal-Withdrawals-From-Account-Niobrara-Neb-894033. 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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