Washington State Department of Financial Institutions

Consumer Alert:
Fast Cash Online

Unlicensed and Abusive Payday Loan Collection Practices

December 28, 2010

Fast Cash Online
aka fastcashonline.com
aka Fast Financial Funds Company
aka First Choice Investment Ltd

Washington consumers are being approached by an entity claiming to act as a collection agent for payday loan transactions that are stated to still be unpaid. However, this entity, using the name Fast Cash Online, is not licensed to do business in Washington and is using harassing and otherwise abusive collection practices that are not permitted.

It is unclear how the entity obtains consumer information regarding payday loans and the entity may have obtained consumer information from an actual payday loan the consumer may have had at some time in the past.

The entity uses harassing and otherwise abusive collection practices that are not permitted and the entity has been known to contact the consumer’s employer, neighbors, and family members regarding the collection of debt.

The entity threatens that legal actions will be taken, including the threat of lawsuits and the involvement of law enforcement or through the threat of “jail-time” if the consumer does not comply with demands for payment.

Not Associated with Fast Cash Loans

This entity uses the name “fast cash” in its discussion with consumers; however, this entity is not associated or otherwise does not represent the licensed payday loan company that uses a similar name and that is licensed in Washington State as PFH Inc, d/b/a Fast Cash Loans, license number CC-530-16552, and located at 34507 Pacific Highway, Suite 3, Federal Way, Washington 98003.

Fast Cash Online claims to have an address of 7009 24th Avenue North West, Seattle, Washington, 98117, and a contact telephone of (206) 337-3299.

The website that has been associated with this entity is www.fastcashonline.com. It has been established that the address being used at the website is falsely associated with the unlicensed and possibly fraudulent entity.

The telephone number is active and registered to Fast Financial Funds Company, 845 Finchley Road, London, NW11 8NA United Kingdom. Research also shows this information as belonging to the registrant of the website being used.

The entity is not licensed by the Department of Financial Institutions to lend money in Washington under any of the aliases that have been identified. Additionally, this entity is not registered with either the Washington State Department of Revenue or the Office of the Secretary of State to do business in Washington under any of the aliases identified.

If You Feel You're A Victim

If you feel you have been a victim of fraud, please contact the Federal Trade Commission at 1-877-FTC HELP (382-4357), or online at www.ftc.gov. Also, victims should report their experiences to the Internet Crime Complaint Center at www.ic3.gov.

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