By: Christopher Koegel, Assistant Director, Division of Financial methods | Mar 21, 2016 11:19AM
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WeвЂ™ve learned that portfolios of so-called loan that is payday serviced by AMG solutions are circulating within the business collection agencies market. The lenders that are alleged USFastCash, 500FastCash, OneClickCash, Ameriloan, United money Loans, AdvantageCashServices, and StarCashProcessing. However these so-called debts are bogus. The customers try not to owe the debts that are alleged and also the loan providers have not authorized, assigned, or sold any one of their loans for third-party collection.
There may be without doubt why these loans are bogus. The previous basic counsel of AMG Services finalized a statement under penalty of perjury into the FTCвЂ™s lawsuit against Delaware possibilities, saying that USFastCash, 500FastCash, OneClickCash, Ameriloan, United Cash Loans, AdvantageCashServices, and StarCashProcessing loans have not been put with, or offered to, any alternative party for collection.
Therefore, exactly what does all that mean? If you’re in control of just one among these portfolios, usually do not try to gather these debts, or make an effort to offer the profile to other people.