Category Archives: Borrower Help

Payday Loan Help: Integrity Advance Busted by CFPB

CFPB Busts Online Payday Loan Lender Integrity for Cheating it’s Customers

If you owe a Deleware licensed payday lender called “Integrity,” it’s likely you don’t need to payback your payday loan! The CFPB accuses Integrity Advance of falsely stating the “Cost of Loans” and seeks relief for borrowers.

I’ve written multiple times about a multitude of payday loan and car title lenders having their hands slapped – very, very hard – by the CFPB.

If you’re lucky enough to owe any of these lenders money, you’re in luck. You will not have to pay them back.

18 Ways to Kiss Your Payday Loan Lender Goodbye
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For ALL my tricks listing how to get payday loan help and get out of all your payday loans, invest in my book, “How to Kiss Your Payday Loan Lender Goodbye.” It’s available on Amazon for only $2.95.

“The Consumer Financial Protection Bureau (CFPB) took action today against an online lender, Integrity Advance, LLC, and its CEO, James R. Carnes, for deceiving consumers about the cost of short-term loans. The Bureau alleges that the company’s contracts did not disclose the costs consumers would pay under the default terms of the contracts. The Bureau also alleges that the company unfairly used remotely created checks to debit consumers’ bank accounts even after the consumers revoked authorization for automatic withdrawals. The CFPB filed an administrative lawsuit seeking redress for harmed consumers, as well as a civil money penalty and injunctive relief.”

“Integrity Advance was a Delaware-based online lender which originated and serviced short-term loans to consumers around the country. From May 2008 through December 2012, Integrity Advance offered loans ranging from $100 to $1,000, and consumers typically applied for the loans by entering their personal information into a lead generator website.”

“Under the default terms of Integrity Advance’s contracts, the loans would roll over four times—causing additional charges to accrue with each rollover—before the company applied any of the payments to the principal amounts. However, the costs on the disclosures were based on the assumption that the loans would not roll over and would instead be repaid in full by the first payment. Integrity Advance never informed consumers of the total costs of their loans if those loans were rolled over, even though the contracts were set up to roll over automatically. Under the default terms of the contracts, consumers would end up paying finance charges more than double the amount originally borrowed: $765 in finance charges for a typical $300 loan.”

“The CFPB alleges that Integrity Advance violated the Truth in Lending Act and the Electronic Fund Transfer Act, and that Integrity Advance and Carnes violated the Dodd-Frank Wall Street Reform and Consumer Protection Act’s prohibition against unfair and deceptive acts and practices. The unlawful practices alleged by the CFPB include:

  • Hiding the total cost of loans: Consumers were given contracts with disclosures based on repaying the loan in a single payment, even though the default terms of the contract called for multiple rollovers and additional finance charges. For example, under Integrity Advance’s default payment schedule, a consumer borrowing $300 would ultimately pay $765 in finance charges—$675 more than the $90 finance charge disclosed in Integrity Advance’s contract.
  • Requiring repayment by pre-authorized electronic funds transfers:Integrity Advance violated federal law by requiring consumers to agree to repay their loans via pre-authorized Automated Clearing House (ACH) payments. The Electronic Fund Transfer Act says repayment of loans cannot be conditioned on consumers’ pre-authorization of recurring electronic fund transfers.
  • Continuing to debit borrowers’ accounts after consumers canceled the authorization: Integrity Advance’s contracts with consumers included a provision allowing the company to use remotely created checks if a consumer successfully canceled his or her authorization for ACH withdrawals. The provision was hidden in the loan agreement, and the company used it to take consumers’ funds when consumers believed they did not owe money to Integrity Advance.”

“A Notice of Charges initiates proceedings in an administrative forum, and is similar to a complaint filed in federal court. This case will be tried by an Administrative Law Judge from the Bureau’s Office of Administrative Adjudication, an independent adjudicatory office within the Bureau. The Administrative Law Judge will hold hearings and make a recommended decision regarding the charges, which may be appealed to the Director of the CFPB for a final decision. The Notice of Charges is not a finding or ruling that the respondents have actually violated the law.”

“The Bureau’s Rules of Practice for Adjudication Proceedings provide that the CFPB may publish the actual Notice of Charges ten days after the company is served. If allowed by the hearing officer, the charges will be available on the CFPB website after that date.”

Payday Loan Refunds

Payday Loan Refunds

For my UK friends, here’s some very good news regarding a refund for Dollar Financial payday loan borrowers.

Dollar Financial has been forced to refund more than £15.4m to 147,000 customers.

18 Ways to Kiss Your Payday Loan Lender Goodbye
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After an investigation into Dollar Financial the FED’s ruled that between April 2014 and April 2015 – after implementation of harsh new lending rules – Dollar customers “may have suffered detriment as a result of the firm’s affordability checks, debt collection practices and systems errors.”

Dollar Financial  owns The Money Shop and internet loan firms Payday UK, Payday Express and Ladder Loans.

As a result of this government fine, Dollar Financial has changed its lending criteria to meet the Financial Conduct Authority’s  rules for high cost short term lenders.

Are you buried under payday loan debt? Struggling to payback your payday loan lenders? No more need to fret. Get my new book, “18 Ways to Kiss Your Payday Loan Lender Goodbye,” and kiss off your payday loan lenders legally!

FTC Returns Cash to Payday Loan Borrowers

FTC Returns Money to  Online Payday Loan Applicants.

Scammers Debited Bank Accounts Without Consent.

How to contact the Federal Trade Commission for your payday loan scammed refund:

Payday loan help for small dollar loan borrowers.

The Federal Trade Commission is mailing 64,607 checks totaling $1.5 million to consumers who lost money to an online operation that illegally debited their bank accounts when they sought payday loans.

The action follows a federal court ruling in favor of the FTC in its case against Direct Benefits Group LLC, Voice Net Global LLC, Solid Core Solutions Inc., WKMS Inc., Kyle Wood, and Mark Berry, whose operations have been halted by the court. According to the FTC’s complaint, the defendants’ websites failed to disclose that they would use consumer’s bank account information to charge them for enrollment in unwanted programs and services.

18 Ways to Kiss Your Payday Loan Lender Goodbye
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Consumers who receive checks from the FTC’s refund administrator, Gilardi & Co., LLC, should deposit or cash them within 60 days of the mailing date. The FTC never requires consumers to pay money or to provide information before refund checks can be cashed.

Consumers who receive checks and have questions can contact Gilardi & Co., LLC at 1-877-255-2804. More information about the FTC’s refund program is available on the FTC’s website.

The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website provides free information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.

Harold E. Kirtz
Southeast Region

Related Case
Direct Benefits Group, LLC, et al.
For Consumers
Payday Loans
Online Payday Loans
Coping with Debt
For Businesses
Payments and Billing

Payday Loan Collections Call: No More

Payday loan collection calls got you down?

Tired of getting multiple calls daily from collection departments?

Stop payday loan and title loan collectors from barbarding you with daily calls to your cell phone!

You can put a stop to all the collectors who are harrassing you by employing a few, simple strategies. The FTCA has implemented rules to put a stop to all the rob-dialers used by collection companies to automatically call consumers on their land lines and cell phones.

KNOWLEDGE is your key to successfully dealing with these payday loan, car title loan, and installment loan collection companies. My book, “18 Ways to Kiss Your Payday Loan Lender Goodbye,” shows YOU the way to end this cycle of debt collection calls.

Multiple, daily collection calls are just one of the many tactics collection companies use to frustrate the crap out of you and get you to pay them! To them, it’s just a numbers game! Don’t let them get away with it.

How to get out of your payday loans
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Use the techniques in my book to put an end to your cycle of debt. Payday loan and car title loan lenders count on you giving into them by their use of a daily barrage of phone calls, text messages and email.

Stop payday loan lenders in their tracks! Let me show you how!! Get my book and bring peace to your life. Your investment? The price of a cup of coffeee and an hour of your time.

Payday Loan Help: Stop Electronic Transfers

Payday Loan Help: Electronic Debits and Transactions

How to stop my payday loan lender from taking money out of my bank account electronically.

Ask yourself:

  1. Did you give your payday loan lender authorization to take your funds?
  2. Do you want to stop one or more payday loan payments out of a series you actually did authorize?
  3. Do you want to cancel your authorization?

Unauthorized transfers

Get Payday Loan Help from the CFPB:

Your payday loan lender is taking more $$ than you authorized? Tell your bank or credit union IMMEDIATELY. Tell them you’re experiencing “unauthorized transfers.” The FED’s require banks and credit unions to put a stop to this!

How to stop payday loan lender's electronic debits from my bank account
Payday Loan Help

My book, available on Amazon now,  “18 Ways to Kiss Your Payday Loan Lender Goodbye” discusses how to properly notify your bank. And, here’s a direct link to the CFPB Payday Loan Complaint page: CFPB Payday Loans

Put a stop to multiple payday loan bank account electronic debits.

Did you sign an agreement that allows your lender to debit electronic payments at repeated intervals, such as loans that are repaid through installments, and payday loans that are automatically set up to renew a certain number of times?  You can stop these! Just tell your bank or credit union – this may have to be in writing – at least three business days before the transfer is scheduled. The bank or credit union may require written confirmation of oral notice. Be aware your bank may charge fees for a stop payment.

Cancelling payday loan bank authorizations.

You can revoke any authorization that you gave a payday lender to take money out of your account. Follow the instructions in the initial payday loan authorization that describe how to tell your payday loan lender to stop. Lacking these instructions, the authorization may be completely invalid; STILL, tell the lender to stop taking money (debiting) your account.

Here’s exactly what to tell your payday lender both by phone and in writing:  “My authorization to debit my account is revoked.”  Keep a copy to take to your bank or credit union. Tell your bank or credit union that, “All further transfers are unauthorized” and you want them treated that way – either stopped or immediately refunded.

Failing this action by your bank or credit union, contact CFPB.