I made an quick loan with a company called Ameriloan for $800.00 dollars, and agreed to spread my payments out to twelve months at $240.00 per month. Now I received a letter from them saying that I have to pay off my loan in full $1040.00 ASAP or ? Is this legal? as I read the above this is not legal.

Keep in mind that I have already made four payments of $240.00 that equal $960..

The original amount was $800.00

Is this legal? what can I do? I'm 79, retired and living on pension and social security. Theres no way that I can come up with that amount of money.

I've enclosed the letter from ameriloan.

Hope I can get some help, I don't want them taking any money out of my account without me having a say so.


Lillian C Young

South Carolina

Every payday loan lender in South Carolina must obtain a license from the State Board of Financial Institutions. To apply, a payday loan business must have at least $25,000 in assets and provide the following information: legal name and residence of the business, location, financial responsibility, background experience, any partnerships, associations, and corporations adjacent to the licensed location. Under South Carolina law, a payday loan lender cannot lend cash advances unless the customer?s bank account has been verified. Cash advance loan lenders must post a notice that has the fees listed.

The most amount of time a payday loan lender can defer a check is 31 days. In addition, payday loan lenders in South Carolina can only lend payday loans up to $300. This amount is one of the lowest compared to other states that offer up to $500.

As with other states, the loan agreement must be signed by the customer and the lender. It should contain the name of the lender, the transaction date, the amount of the check, a statement of total fees (expressed in dollars and annual percentage rate). The agreement should give the lender authorization to defer a payday loan for up to 31 days as stated above.

The maximum amount of fees any payday lender can charge in South Carolina is 15 percent of the face amount of the check. This fee can only be imposed one time to the borrower. In South Carolina if the check is returned to the payday loan lender due to insufficient funds, closed account, or stop payment, the payday loan lender may pursue all available legal action. Under those circumstances, an additional fee up to $10 can be charged.


Hello Lillian Young

Due to payment processing issues we are no longer able to debit your account on your due date. For this reason we ask that you please set up alternative payment arrangements to repay your loan.

To settle your account in full or to set up payment arrangements on your outstanding balance of $1,040.00, please contact a customer service representative now at 1-800-362-9090. A representative may also contact you to assist in setting up an alternative payment arrangement for settling your loan balance.

We will be accepting the following payment options:

• Debit Card

• Pre-paid Card

• Money Order

• Cashier’s Check

• Personal Check

We apologize for any inconvenience this might cause, and appreciate your assistance in setting up an alternative payment arrangement.


3531 P Street NW

PO BOX 111

Miami, OK, 74355.

Monetary Loss: $1200.

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It's because they were robbing people and are illegal in most states. They fix it to where they will make $1,000 or more off a $250 loan, I won't pay them another dime, got a lawyer, illegal in NC.

Closed out my checking acct. they can no longer have control over it and they cannot do a *** thing, they are vulture's and illegal, and are in the process of being sued.

Never give them your ssn loan or not, fight back you have rights don't let these vulture's intimidate youjust because you got one of their measly loans, you will pay it back three fold or more and you are not a slave to the lender in this matter.

Texas City, Texas, United States #729304

The Federal Trade Commission shut them down. They cannot legally collect anything unless a court reverses this decision.

to Lena Nashville, Tennessee, United States #732208

I have not received a letter but did receive a phone call stating the same, that they would not be able to debit my account any longer. They refuse to send me an email or letter with a new contract/agreement.

I only owe $260, but I am hesitant to send anything without a written agreement since this is outside of the original contract I signed with them when I originally took the loan out.

I live in Tennessee, what should I do. What can I do legally?

to Sanderella #786950

Have no further contact with them. quit being soft, these people are not to be messed with they are a mini ponzi scheme.


The state shut Ameriloan down from doing business in SC. They won't be able to collect what you owe.

Los Angeles, California, United States #726590

Ameriloan aka United Cash Loans and aka a host of other names lost in court cases for certain states clients. They are no longer taking monthly payments from checking accounts and they now want you to pay off what you borrowed plus interest. You will no longer have extended payments with them.

to Donald Duck Andalusia, Alabama, United States #728537

I also received a letter saying they can no longer take my money out of my checking acct. so I gave them my debit card to take the payment out, did I do the wrong thing, can I trust them.

to ***fussed #786954

Yes you did the wrong thing, cancel out that debit card asap. Never but ever give them a debit card no.

or checking acct # for God's sake, quit apologizing, you are the victim here.

If you think you just have to pay them anything which I wouldn't, you probably have already paid them dearly in interest fees, do it with a prepaid debit card that way thye don't have access to your bank acct, and do not give them your ssn number. Wise up.

to ***fussed #977191

they are both the same..impactman62

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