Alert updated: 08/15/2013
Originally posted: 07/06/2011
The Washington State Department of Financial Institutions (DFI) has received complaints from multiple consumers regarding an entity named Easy Cash USA. The consumers alleged Easy Cash USA contacted them stating they were attempting to collect on a payday loan from the consumer and threatening and harassing them, even though the consumers each claimed they never entered into a payday loan agreement or received any funds. One consumer reported the following phone numbers are associated with this entity: (312) 473-0958 and (409) 497-9757.
Easy Cash USA is not licensed by DFI, or registered to do business in Washington by either the Department of Revenue or the Washington Secretary of State. DFI was unable to locate or contact Easy Cash USA. Many entities advertising the provision of payday loans use similar names. This entity may be in the practice of engaging in unlicensed lending activity and defrauding consumers.
DFI strongly recommends that consumers deal only with those lenders that are properly licensed to conduct business. Consumers can determine whether lenders are properly licensed using the “Verify a License” feature on the Department’s website at www.dfi.wa.gov.
Payday Loan Debt Collection Laws
Washington State law prohibits threatening or harassing behavior by individuals attempting to collect a debt. The federal Fair Debt Collection Practices Act states that debt collectors must send consumers a written notice within five days of the first collection phone call, stating the amount of the debt and what it relates to.
Debt collectors cannot state or imply that failure to pay a debt is a crime. They cannot call before 8:00 a.m. or after 9:00 p.m. They cannot harass or abuse consumers, or contact consumers’ place of employment.
- If you are suspicious of unlicensed activity by a payday lender, please contact DFI at 1-877-RING-DFI (746-4334) or online at www.dfi.wa.gov.
- If you feel you have been the victim of a loan scam, please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at www.ftc.gov.
- You can also contact the Consumer Financial Protection Bureau at www.consumerfinance.gov or (855) 411-CFPB (2372).
- If you feel you have been the victim of a loan scam involving the Internet, please contact the Internet Crime Complaint Center at www.ic3.gov.