Consumer Alert:
Northway Financial dba Cash Transfer Centers dba Zip19.com
The Washington State Department of Financial Institutions is warning consumers to verify the license of any lending professional with which they are considering doing business.
Northway Financial dba Cash Transfer Centers dba Zip19.com provides payday loans to consumers via the internet and is located in Malta.
Not Licensed To Do Business In Washington State
The company is not licensed by the Washington State of Department of Financial Institutions. The company is not registered to do business in Washington by either the Department of Revenue or the Washington Secretary of State.
The Washington State Department of Financial Institutions has taken formal enforcement action against this company but is unable to pursue additional action because it is located outside the United States.
If You Feel You're A Victim Of A Loan Scam
If you feel you have been a victim of a loan scam, please contact the Federal Trade Commission at 1-877-FTC HELP (382-4357), or online at www.ftc.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.
Payday Loan Debt Collection Laws
Consumers should know that Washington state law prohibits threatening or harassing behavior by individuals attempting to collect a payday loan. Only licensed companies are permitted to make payday loans in Washington.
The federal Fair Debt Collection Practices Act says debt collectors must send consumers a written notice within five days of their first phone call, showing how much the consumer owes and where the debt is from. The law says collectors can not say or even imply that nonpayment is a crime.
They can't call before 8 a.m. or after 9 p.m. Collectors are not allowed to speak to a consumer’s employer about their debt. They are prohibited from harassing or abusing consumers and they must stop calling if the consumer asks them to.
