Originally posted: March 15, 2013
Alert updated: July 25, 2012
Tribal Venture Management Group may also be doing business as e-cash-advance.com or e-payday-loan.com.
The Washington State Department of Financial (DFI) received a complaint from a consumer related to transactions entered into with e-cash-advance.com. The consumer alleged that he received collection calls from e-cash-advance.com employees that were threatening in nature.
e-cash-advance.com appears to be run by Tribal Venture Management Group, a company operating under the authority of the Guidiville Band of Pomo Indians of California. e-cash-advance.com is not licensed with DFI and is not registered to do business with the Washington Secretary of State or Department of Revenue.
DFI notes that the e-cash-advance.com website advises that loans are not available to residents of Washington State, and that “this site will no longer be advancing any payday loans”; however, the DFI is unable to confirm this statement. Tribal Venture Management Group also appears to be operating e-payday-loan.com.
DFI strongly recommends that residents verify the license of any lender with which they consider doing business with. Consumers are urged to verify licensing status prior to giving the lender nonpublic personal information, such as social security number and checking account access. You can verify a license with DFI at www.dfi.wa.gov or by calling 1.877.RING DFI (746-4334).
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' places 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 (1-877-382-4357), or online at www.ftc.gov.
If you feel you have been the victim of a loan scam involving the Internet please contact the Internet Crime Complaint Center online at www.ic3.gov.
If you feel you have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus.