Report: #828000

Complaint Review: Martin A. Webb

  • Submitted: Tue, January 24, 2012
  • Updated: Tue, June 19, 2012
  • Reported By: Anonymous — Denver Colorado United States of America
  • Martin A. Webb
    P.O. Box 368
    Timber Lake, South Dakota
    United States of America

Martin A. Webb Red Stone Cash, Red Stone Financial, Western Sky Financing, Western Sky Funding, Western Sky, WesternSky.com, Great Sky Finance, GS Finance, Great Sky, GSky, Great Sky Cash, GreatSkyCash.com, PayDay F - Illegal Loans - Timber Lake, South Dakota

*Consumer Comment: Western Sky & Cash Call

*Consumer Comment: FYI

Show customers why they should trust your business over your competitors...

I took a loan with Red Stone Cash for $400. They took out $140 every two weeks for two months and the principal never decreased. They claim I still owe $540 when I've paid $560. When I spoke with their representative, she said "Because that's what it said at the beginning," i.e., that any money taken out would only be applied to the finance charge unless I specifically called and said otherwise. That was never clearly communicated.

Red Stone Cash is owned by Martin A. Webb, with a disclaimer that it is part of the Cheyenne River Sioux Tribe in order to avoid state laws (ie you must have a license to offer a loan of more than 8% in Colorado. They do not.) As a result, the Colorado Attorney General has filed a lawsuit against Martin A. Webb. Colorado Attorney General files Lawsuit against South Dakota Lender

There are plenty of other lawsuits out there - Maryland, New Hampshire, FTC - just Google his name and you'll see.

If you've been taken advantage of by this company, you need to know your rights: The first thing you need to do is go to your bank and close your bank account and open another one to stop them from taking your money. Next, read up on the Fair Debt Collection Practice Act on Wikipedia. It says that you can send them a letter (send it certified) stating that you dispute the debt and refuse to pay it and they are not to communicate with you any further. If they do contact you, they are liable for up to $1000. Then file a complaint with your state's department of banking. 

If we don't put a stop to this, they will keep taking advantage of people.
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This report was posted on Ripoff Report on 01/24/2012 05:31 PM and is a permanent record located here: http://www.ripoffreport.com/reports/martin-a-webb/timber-lake-south-dakota-57656/martin-a-webb-red-stone-cash-red-stone-financial-western-sky-financing-western-sky-fun-828000. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Western Sky & Cash Call

AUTHOR: PogoQ - (United States of America)

I took out a loan from Western Sky, which is being "serviced" by Cash Call.  Yes, it was a stupid thing to do, but sometimes, when you're desperate, you don't think clearly.

Anyway, I have paid back the entire principal amount of the loan, and Cash Call has complied with my C&D request (I assume because they're acting as the "third party").  I was told that my only obligation is to repay the principal, as Western Sky is not a licensed lender in my state.  My concern, however, is whether WS can sue me for the interest.  Anyone know?
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#2 Consumer Comment

FYI

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

The Fair Debt Collection Practice Act only applies to third party debt collectors, not original creditors. 
Did you read the terms of your contract??? And NO I am not an employee of these blood suckers - just learned my lesson one time about these scum bag payday loan extortionists.
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