CashWise Blog
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While nobody likes a call from a debt collector, receiving a call from a fake is even worse. In an emerging trend, scammers are posing as payday loan debt collectors and frightening individuals into paying “debts” they never owed.
Ohio Attorney General Richard Cordray has offered some great advice on how to ensure you don’t get caught in the same trap, while putting those scammers back on their heels:
Some red flags in identifying this scam include:
- Refusal to provide the consumer with supporting documentation of debt allegedly owed.
- Callers claim to be representatives from “U.S. Cash.”
- Repayment required through wiring or wire transfer of payments.
- Threats of retaliation if the debt is not immediately repaid.
Cordray advises [individuals] to know their rights under the federal Fair Debt Collection Practices Act (FDCPA), which requires debt collectors to send consumers a written “validation notice” listing the amount of debt a consumer owes within five days of first contact. In turn, consumers have the right to request validation of a debt by sending the collector a letter.
The FDCPA can be reviewed in full here.
Cash Central appreciates your patronage and the ability we have to offer you peace of mind that comes from knowing you have access to short-term funds when you need them. Recent financial reactionism and subsequent legislation, however, are threatening your access to peace of mind and threaten to shut down short term loans– a financial service that has helped millions over the years.
Currently, regulatory reform legislation (in the form of the Community Financial Protection Agency–CFPA) is being politically rushed for a vote and has the very real potential to cause Cash Central and all other short-term payday lenders to close their doors—not only cutting off your access to convenient and accessible short term cash, but also putting more than 50,000 people out of work across the country. The next few days and weeks are critical in making your voice heard.
To contact your Senators, click here and find your senator by entering your state. Click on the appropriate contact link and fill out the contact form with a message that explains your feelings regarding the need for cash advances, short term loans, etc.—and that you do not want this right to be taken away by the government in this new piece of over-reaching legislation.
I can’t thank you enough for the services you provide. Your friendly staff and quick service is to be commended. You guys are the best.
Kathy S.
A note of thanks:
This is a letter of appreciation. We have been doing business with Cash Central for quite some time now. Cash Central has been a very valuable financial tool for us. We are now much more financially stable because of your service. One of the appreciated factors is your ability to have monies in ones account the following day. And the discount is appreciated also. Job well done, thank you again and happy holidays.
Brian S.
With excessive bank fees (i.e. – the fees banks charge you to use your money: ATM fees, bounced check fees, transfer fees, etc.) on the rise (fees can run up to $38 per line item) and contributing mightily to bank profits, the FDIC has responded to their 18 month banking survey. The survey indicates most banks enroll customers in overdraft protection without notification and many do not give an option to opt out. In this era of legislators crying “wolf” on payday loans, it’s nice to see governing bodies take notice of true price gouging. Read the full article at USA Today here.
Dear Cash Central,
I just wanted to take a moment to express my most sincere appreciation for the top level service that you have provided for me over this past year.
It is not always possible to equate success in everyday life with that of the dollar sign. But rather, being able to overcome and survive the totally unexpected surprises in life with ones dignity still intact, to me, is simply priceless. Time and time again, the ability to rely on your company has allowed me to continually elevate myself to the next level with my head held high. And for that alone, I am and will always be, eternally grateful.
My most sincere and heartfelt “Thank You”, to all of you at Cash Central.
Sincerely,
John P.
I had to apply for a few loans to cover an emergency and your company was the only one kind enough to deposit the funds into my account thus far. I needed another $400 and other companies are having me sign things and give out personal inforomation and yet, still no money or updates. Thank you for being professional, but am I being naive thinking other companies, who now have my Social Security number and Bank Account number are as trustworthy as you?
-K. H
Thank you for trusting Cash Central with your emergency needs. Applying for an online loan can be tricky. There are literally millions of sites to choose from, but only a handful of them are truly licensed lenders. Most of the sites you’ll find ask for your information and pass it along to legitimate lenders. From there, they’ll keep your information to remarket and sell to other vendors in the off chance you’ll be interested in their products as well.
Cash Central always recommends checking the sites Privacy Policy, making sure they have a full list of contact information (including phone numbers and a physical address) and, most importantly, that they’re licensed to do business. If you can confirm these three items, chances are you’re dealing with a legitimate lender you can count on.
I can’t thank you enough for the services you provide. Your friendly staff and quick service is to be commended. You guys are the best.
–Kathy S.
I just want to write that I really am more happy with the way the website is setup now. I appreciate the fact that I can pay more of the loan during the time of the loan with the Make a Payment tab. I also like the fact that during the extension of the loan you can pay more of the principal. This makes it easier for people who are living pay check to pay check to pay the loan back in installments. It feels like a real loan and not a pay day loan. Thank you for making it more convenient. No response is needed. Just Thank you!
–Tammy C.
Ask Sarah is more than a simple FAQ section. It’s a “living, breathing” section of the website which is continually updated with common questions sent in by our customers. This installment of CashWise will highlight a few recent questions we’ll soon be adding to the “Ask Sarah” FAQ section. If you have questions you think might be helpful to others, please let us know!
Q: Why are there so many places to sign? I can see needing one signature, but why so many?
A: CashCentral.com believes in being secure, reliable and state licensed. As a point of assurance in your transaction, CashCentral.com does require several signatures. These signatures not only allow you to acknowledge your transaction, they also allow you a physical trail of your transaction. In addition, many state laws require customer acknowledgement in certain areas of the contract, for example, electronic funds transfers and refinances. All steps go toward assuring you of a legitimate and secure transaction.
Q: Why do I need to wait 3-4 days to get a new loan?
A: In many states, a waiting period is required before a customer is able to request a new loan from the same lender. In other cases, CashCentral.com needs to verify the original funds have cleared your bank account to avoid scheduling two loans at once.
Q: There are a lot of payday loan referral sites out there. Are you one of them?
A: CashCentral.com is not a referral site. We are the lender. While we may receive your name from a referral site you may have requested a loan on, we are the final lender and originator of your funding transaction*.
* While still helping with your loan, Texas funds come from an independent Lender and Cash Central acts as a Credit Service Organization.
Respectfully,
Roger H.
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