Washington State Department of Financial Institutions

Consumer Alert:
Advance Payday Loan

Unlicensed Payday Loans

Updated: August 01, 2013

The Washington State Department of Financial Institutions (DFI) warns consumers to verify that any lender with which they consider doing business holds a Washington State license for providing payday loan services. Consumers are urged to verify licensing status prior to giving the lender nonpublic personal information, such as social security number and checking account access.

DFI has received complaints regarding a company identified as Advance Payday Loan. Washington consumers have reported they were provided with a purported business address for Advance Payday Loan at the Seattle Municipal Tower, which is located at 700 Fifth Avenue in Seattle, Washington. DFI has verified that the occupants of the Seattle Municipal Tower do not include any business using the name of Advance Payday Loan.

The phone numbers associated with Advance Payday Loan include 360-483-5116, 360-483-5106, and 206-452-3600. A website associated with this company has been identified as www.2000loans.net. DFI has no other contact information.

Advance Payday Loan is not licensed by DFI as a small loan or payday lender. This entity is not registered to conduct business in Washington State by the Department of Revenue or the Secretary of State. 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 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 or contact the Consumer Financial Protection Bureau (855) 411-CFPB (2372), or online at www.consumerfinance.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.

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