Washington State Department of Financial Institutions

Consumer Alert:
United Holdings Group LLC

Unlicensed Payday Lender

Updated: April 16, 2013

The Washington State Department of Financial Institutions (DFI) has received complaints regarding online payday lending activity that is being conducted by United Holdings Group, LLC. It was reported that this company charged excessive fees, did not apply payments to principal, and made harassing telephone calls regarding repayment of the debt.

United Holdings Group, LLC may be associated with a website at www.200needcashnow.com; however, the website no longer appears to be operating. United Holdings Group, LLC lists telephone number as (877)891-9021 and fax number as (888)352-6769. United Holdings Group, LLC has no listed mailing address or physical location and will not provide one when asked by consumers.

United Holdings Group, LLC 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.

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.

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 Department of Financial Institutions 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.

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