1-800 Loan Mart Illegal harrassment privacy disclosure illegal business practices Encino California
If you take out a loan with 1 800 Loan Mart, please beware of their policies. I had a three-year loan with this company. Despite paying well in advance of the regular payments, I was harrassed constantly with calls saying I was overdue for payment. I was never once overdue. The loan was paid off in seven months. After writing letters and emailing them to stop this harrassment, they started calling my references, divulging the existance of this loan.
I sued them in small claims court and I won. They claimed that all these calls were simply "reminder calls." The judge didn't buy it for a minute. If you want to look up the judgment here is the case number: SBA 08S01052. The company is actually owned by WHEELS FINANCIAL DBA 1800 Loan Mart.
Now, instead of paying off and admitting they were wrong, they are threatening me with an appeal and have told me "We're never giving you a cent."
Here is a link to the court judgment page: (((Redacted)))
Harrassed and abused torrance, California
U.S.A.
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1 Updates & Rebuttals
David's Alias
Panorama City,California,
U.S.A.
Its True
#2UPDATE EX-employee responds
Tue, May 12, 2009
I used to work for 1 800 Loan Mart, and its true. I was a collections agent for 1 year. I was instructed on numerous occasions to break the rules for the company. We did countless illegal practices and were trained by our Managers. We had limitless resources that helped us get personal information from the DMV, Phone companies, DWP, and employers. We had a phone system that would allow us to hack into your cell phone and access your voice mails. We had a phone scrambler that would allow us to call you with any Caller Id we chose, including your mothers phone.
We had access to your social security number so we would be able to call your mortgage and phone companies and have them give us confidential information. One of the requirements to get the loan is provide your last phone bill. We called all the numbers you would call most often and harass them too.
If you were not late on your payment, you still got ripped off because the lowest interest rate they gave was 74% not 7.4 74, after they convinced you the loan would only cost you ten dollars a month. People who had trouble paying their loans on time were urged to take out a new loan or change the due date. This was a trap to get them a new balance. Every loan costed $875 regardless if you paid it the same day. That fee was reinstated to their loan for doing a re loan.
Please every one read your contracts. Do not let the loan officers tell you their pitch, remember benefit from you signing the loan.