Washington State Department of Financial Institutions

Consumer Alert:
Bottom Dollar Payday Loan Services

Also doing business as:

Unlicensed Payday Loans

Updated: August 16, 2013

The Washington State Department of Financial Institutions (DFI) warns consumers to verify that a lender is licensed to provide payday loans in Washington before conducting business with that lender. Consumers are also urged to verify licensing status before giving out nonpublic personal information, such as checking account access or a social security number.

DFI has received a complaint from a consumer who reported they applied online for a payday loan from Bottom Dollar Payday Loan Services, LLC a/k/a PDL Services LLC or International Equities Group, LLC d/b/a Paradise Cash Advance. The consumers alleged that after reading the terms of the loan he informed the entity he did not wish to continue, but the entity withdrew $650.00 from his bank account.

The consumer identified that the entity claimed to be operating out of Costa Rica with the following address and phone number: Aparpado Pospal 1434 1200, San Jose, Costa Rica (877) 712-3729. These entities have also been associated with the following address: Hunkins Waterfront Plaza, Ste 556, Charlestown, Nevis,West Indies and email addresses: bottomdollarpayday.com and customerservice@paradisecashadvance.com.

The companies listed above are not licensed by DFI, and are 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.

Payday Loan Debt 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’ place of employment.

Report Violators

If you are suspicious of unlicensed activity by a payday lender, please contact 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. You can also 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 at www.ic3.gov.

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