Consumer complaint received 2018-05-24
Company: AmeriCash Holding LLC
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Getting a line of credit

Complaint:
I got this letter from them : Name : XXXX XXXX Subject : Loan Confirmation Loan Approval : - XXXX Loan Amount : - {$4000.00} Number of Installment : - 24 Months Monthly Payments : - {$200.00} Please call at below mentioned number NOW to get money cash within 45 minutes!!! 

Thanks and Regards : XXXX XXXX Phone : XXXX Terms and Conditions Any use of our services at XXXX XXXX XXXX is governed by following terms and conditions. Read the following carefully before you avail any of our services. 

The content published in the mail is owned by AmeriCash Loans. You can use it for personal purpose only. Copying of content or republishing it for commercial purposes is strictly prohibited. The content is for general information only.

1. The customer needs to be a citizen of the US, have an active bank account and earn steady income every month you will be considered as eligible to avail our loan services.

2. The customer can avail an amount ranging up to {$4000.00} to {$20000.00} as loan.

3. The customer has to call us back as soon as they receive this email.

PREPAYMENT : You may prepay this agreement in full or in part at any time without penalty. Earned finance charges are determined by applying the annual percentage rate to the unpaid balance of the amount financed for the actual time those balances were unpaid. You are not obligated to pay the unearned portion of the disclosed Finance Charge.

DEFAULT : A customer shall be in default under this Agreement when the payment remains unpaid for more than 40 days after its scheduled or deferred due date, or if the customer fails to comply with any of the terms of this Agreement if the failure materially impairs the condition, value or protection of or the Lenders right to the collateral or materially impairs the customers ability to pay the obligation due under this Agreement LENDERS RIGHTS IN THE EVENT OF DEFAULT : In the event of default, and if you have the right to cure the default pursuant to sec. 425.105, Wis. Stats., you fail to cure the default within 15 days after you are given notice of the default, the lender may declare the whole outstanding balance due under this agreement payable at once and proceed to collect it, including commencing legal action.

TIME : It is essential that you make your payment on time REPAYMENT GUARANTEE I understand and agree, that all shares, interest and deposit with AmeriCash Loans and owned by me are hereby pledged individual or/and severally as security for the said loan on such part of its as may be granted. In the case of default by me, the treasurer is hereby authorized to deduct any balance, interest and cost pertaining to the aforementioned loan from the security hereby pledged. Should the loan not be granted this guarantee automatically becomes null. 


LOAN AMOUNT BREAKUP Number of Installment 24 Monthly Payments {$200.00} Loan Amount {$4000.00} XXXX Data Protection Act 1998 : Your personal information will be treated as confidential and only disclosed ; A, At Your Request. B, to prevent Fraud or by the order of the courts. You are entitled to a copy of the information we hold about you by writing to us and requesting it. There is a fee for the service hereby declares that the foregoing particulars are true to the best of my knowledge and belief and Agreed to abide by the By-laws of society conditions and terms of the loan policy and variations by the credit Committee as above. I hereby authorize the necessary deduction to be made from my salary as repayment of the loan.

Signature Date. 

Loan Servicing TELEPHONE : - XXXX

Company response to consumer: Closed with explanation