Washington State Department of Financial Institutions

Consumer Alert:
Cash Advance Group

Payday Loan Debt Collection Scam

October 31, 2013

It has been reported to the Washington State Department of Financial Institutions (DFI) that a consumer was contacted by an individual identifying himself as Brian Wilson stating that he represented Cash Advance Group regarding a delinquent loan. The representative threatened legal action against the consumer. The representative also threatened to seize the consumer’s bank account and serve the consumer with legal documents at the consumer’s place of work.

The consumer provided the following phone number that is allegedly tied to the company: 951-223-6693.

Cash Advance Group is not licensed by the Washington State of Department of Financial Institutions as a payday lender, or by the Washington State Department of Revenue Business Licensing Service as a collections agent. Washington residents are advised that state law provides in RCW 31.45.105(1)(d) and (3) that a small loan made by an unlicensed entity to a person physically located in Washington is uncollectible and unenforceable in Washington State.

Verify Licenses

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 DFI’s website at www.dfi.wa.gov.

Report Fraud

Washington State residents, if you are suspicious of unlicensed activity by a payday lender please contact the Washington State Department of Financial Institutions at 1-877-RING-DFI (746-4334), or online at www.dfi.wa.gov.

If you live in another state, find your state regulator.

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; or contact the Consumer Financial Protection Bureau (855) 411-CFPB or online at www.consumerfinance.gov. Because the scammers have access to bank account information and social security numbers, victims should consider themselves victims of identity theft and take appropriate precautions. The Federal Trade Commission has information for victims of identity theft available 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.

<< Back to Consumer Alerts

DFI