Consumer Alert:
Advance Payday Loan
Unlicensed Payday Loans
October 01, 2012
The Washington State Department of Financial Institutions (DFI) has received a complaint regarding a company identified as Advance Payday Loan. It was reported that Washington consumers were provided with an address at the Seattle Municipal Tower, which is located at 700 Fifth Avenue in Seattle, Washington, for this company. DFI has verified that the occupants of the Seattle Municipal Tower do not include any entity using the name of Advance Payday Loan. The phone numbers associated with this company are (360) 483-5116 and (360) 483-5106. The website associated with this company is www.2000loans.net. DFI has no other contact information.
This company is not licensed by DFI, and is not registered to conduct business in Washington by the Department of Licensing, the Department of Revenue, or the Secretary of 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 the DFI’s website at www.dfi.wa.gov/consumers/findcompany.htm.
Payday Loan 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.
Report Fraud
If you are suspicious of unlicensed activity by a payday lender please contact the 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.
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.
