• Report: #830568

Complaint Review: United Cash Loan

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  • Submitted: Sun, January 29, 2012
  • Updated: Wed, June 11, 2014

  • Reported By: M. Jackson — Hammond Indiana United States of America
United Cash Loan
3531 P Street NW Miami, Indiana United States of America
  • Phone: 918-442-9107
  • Web:
  • Category: Loans

United Cash Loan Pay Day Loan Scam Miami, Indiana

*Author of original report: Former Customer of Heritage Finanical

*Consumer Comment: Payday loans

*Author of original report: UNITED CASH SCAM

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On May 24, 2011 my wife and I took out a Pay Day Loan in the amount of $500 with the understanding that loan would be satisfied with $150 increments until the loans was paid off. However much to my surprise by September 30, 2011 we had paid a total of $955. It was at this point we decided to close our checking account because were unable to go online to access the United Cash Loan website. We also could not talk to anyone. If we had not closed our Bank account they would have total access to our checking account and money out of it when the wafnted to. After searching the internet we found a contact number and we were able to address the issue of if we had a balance. This company calls your place of employment even after a cease to phone calls was faxed and mailed to them, they also try and intimidate me when I ask the Representative to send me a itemized statement in writing. I was told I had $495 to pay after already paying $955 on a $500 Loan. We research this whole internet pay day loan companies and found out that as a consumer you have to know rights. A cease communication, and Dispute Debt along with facts about the Laws in our State.

This report was posted on Ripoff Report on 01/29/2012 08:15 AM and is a permanent record located here: http://www.ripoffreport.com/r/United-Cash-Loan/Miami-Indiana-74354/United-Cash-Loan-Pay-Day-Loan-Scam-Miami-Indiana-830568. 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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REBUTTALS & REPLIES:
2Author 1Consumer 0Employee/Owner
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#1 Author of original report

Former Customer of Heritage Finanical

AUTHOR: M. Jackson - ()

 Everything that was stated in your remarks regarding this company I believe are true. I have my own horrid stories dealing with this company. I had to file Bankructy just to resolve my fianancial issue with this company. I STONGLY recommend anyone  that goes to a lot to look at cars on a Quick Auto to reconsidered and find other options. As Far as Hertiage Financial they are very under handed company. I will never do business again with them again. This company is very cut throat and treat their customers like trash. Even though this is a HIGH RISK Dealership/Finanacial company they need to learn how to treat people with respect and not like the company is doing you a favor. You give them your hard earned money that's least they should do. 

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#2 Consumer Comment

Payday loans

AUTHOR: Robert - (U.S.A.)

Here is a basic fact you need to know..Payday loans have HUGE interest rates, some well over 300%.

On May 24, 2011 my wife and I took out a Pay Day Loan in the amount of $500 with the understanding that loan would be satisfied with $150 increments until the loans was paid off.
- And when would it be paid off?  You did ask that question didn't you? 

As for your "Cease Communications" you are probably referring to the Fair Debt Collection Practices Act(FDCPA).  That applies ONLY to 3rd Party Collection agencies, this payday loan company is considered an Original Creditor so it does not apply to them.  There are a couple of States that have laws that extend rules similar to the FDCPA to Original Creditors but I do not believe that Indiana is one of them.

I was told I had $495 to pay after already paying $955 on a $500 Loan.
- Sounds about right.  Especially if you closed your account and they couldn't withdraw any more money.  Because not only are you paying the high interest they are now also probably hitting you with late fees as well as returned check fees.  Most likely of that $150, most if not all was going to just the Interest.  If you want to actually pay these loans down you generally need to contact them and find out how much extra you need to pay to get it paid off quicker.
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#3 Author of original report

UNITED CASH SCAM

AUTHOR: M. Jackson - (United States of America)

THE INTERNET PAY DAY LOAN COMPANY MUST BE LICENSED IN THE STATE THAT BORROWER IS FROM. IF LOAN COMPANY IS NOT THEN THE LOAN IS VOID. EACH STATE HAVE DIFFERENT LAWS SO THE BORROWER SHOULD DO THERE RESEARCH BEFORE AGREEING TO TAKE OUT A LOAN. ONCE THEY HAVE YOUR CHECKING ACCOUNT INFORMATION. THEY CAN TAKE AS MUCH MONEY FROM YOUR ACCOUNT AS THEY WANT. THE BAD PART ABOUT THESE LOANS IS MOST IF ALL THESE COMPANIES ARE ON INDIAN RESERVATION WHICH IS MONITORED BY THE FEDERAL GOVERNMENT. ONE LAST POINT, THAT A UNAWARE BORROWER SHOULD KNOW IS THAT IF THE DO EXPERIENCE ANY PROBLEMS THEY SHOULD REPORT ANY INDISCRETION SHOULD BE REPORTED TO THE FEDERAL TRADE COMMISSION.
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