• Report: #1066430

Complaint Review: Silver Cloud Financial

  • Submitted: Fri, July 12, 2013
  • Updated: Fri, July 12, 2013

  • Reported By: angelworks — Rochester New York
Silver Cloud Financial
635 East Hwy 20, C Upper Lake, California USA
  • Phone: 855-209-8394
  • Web:
  • Category: Loans

Silver Cloud Financial They Love To Ruin Your Financial Life, triple The Loan Amount and Increased Payment options Upper Lake California

*REBUTTAL Individual responds: use spell check

*General Comment: I was scammed but found a Law to help.

*REBUTTAL Individual responds: SILVER CLOUD FINANIAL

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 Took A $600 dollar Loan From Them And Instead Of Low Payment Options, The Payment Is 3 to 4 times the loan amount, not just that the recuiring payments are every 2 weeks.. Would not recommend this company..


This report was posted on Ripoff Report on 07/12/2013 08:31 AM and is a permanent record located here: http://www.ripoffreport.com/r/Silver-Cloud-Financial/Upper-Lake-California-95485/Silver-Cloud-Financial-They-Love-To-Ruin-Your-Financial-Life-triple-The-Loan-Amount-and-1066430. 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:
0Author 1Consumer 2Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Individual responds

use spell check

AUTHOR: use spell check - (USA)

OMG PLEASE USE SPELL CHECK. 

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#2 General Comment

I was scammed but found a Law to help.

AUTHOR: SWefler - ()

I to was fooled into this loan and had no idea that my pay back amount was more than 3x my loan!! After doing some research I found that in Californa that have strict rules and what they are doing is illigeal!!!

Legal Maximum Rate of Interest Loan/forbearance of any money, goods, or things in action, or accounts after demand-7% or contract rate (Const. XV §1) contract rate shall not exceed 12% (Civil Code §1916-1) Penalty for Usury (Unlawful Interest Rate) Contract or agreement for greater than 12% shall be null and void as to any agreement to pay interest (Civil Code §1916-2); debtor may recover treble amount paid; willful violation-guilty of loan-sharking, a felony and punishable by imprisonment in state prison for not more than 5 yrs. or county jail for not more than 1 yr. (Civil Code §1916-3) Interest Rates on Judgments Set by legislature at not over 10% rate; in absence of setting of such rate, rate of interest is 7% (Const. Art. XV §1) Exceptions Incorporated insurer (Ins. §1100.1); licensed broker-deals (Corp. §25211.5); indebtedness issued pursuant to corporate securities law (Corp. §25116); licensed business and industrial development corporation (Fin. §31410); state and national banks acting as trustees (Fin. §1504); foreign banks (Fin. §1716); bank holding companies (Fin. §3707); state and federal savings and loans (Fin. §7675) -

See more at: http://statelaws.findlaw.com/california-law/california-interest-rates-laws.html#sthash.zZy8ZlvV.uTpE8jON.dpuf

 

I will be filling a complaint next!

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#3 REBUTTAL Individual responds

SILVER CLOUD FINANIAL

AUTHOR: anonymous - ()

THIS COMPANY IS A RIP OFF, THEIR LOAN RATES OR HIGHER THEN ANY COMPANY I HAVE HEARD OF. THEY ARE TAKING ADVANTAGE OF ONES NEEDS FOR A LOAN. THIS COMPANY SHOULD BE LOOKED INTO AND BE MADE TO MAKE CHANGES.  THEIR ENTREST RATES OR VERY HIGH TO PAY BACK. I WILL MAKE SURE THAT ANYONE I KNOW THAT NEED A MONEY LOAN DO NOT APPLE WITH THIS COMPANY. THIS COMPANY IS LOOKING FOR DESPRITE PEOPLE THAT THEY CAN GET TANGLED IN THEIR WEB. ONLY THE RICH WILL SERVIVE.

 

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