Consumer complaint received 2017-09-02
Company: Manor Resources, LLC
State: FL
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Struggling to pay your loan

Complaint:
The short story is that Manor Resources dba XXXX XXXX XXXX XXXX has made 2 different title loans to me, one in the spring of XXXX and a refinancing of it in XXXX. They have never been licensed to do any lending whatsoever in the State of Florida until XXXX of XXXX, and that is only under consumer finance rules AND after they withdrew their prior applications to make loans. They were sued in Federal District Court in PA under RICO in XXXX and settled within 3 months. 

The point is that they solicited and made the title loans to me, and im sure to others here in FL, knowing that they were acting illegally and unlicensed. Their collections practices have always included non-stop harassment via cell phone and email. They have been informed on at least 20 occasions that they are not permitted to contact me via cell phone. Their most recent response was that they will never stop calling to collect on a title loan. They have shared information about my loan to my family members while harassing them at their home. Their loans are invalid, and I know their collections practices are illegal. 

They have the title to my car. They have taken my money, they have consistently attempted to cause me to default by claiming that I could pay via an online method, only to remove the option when the payment is due. They send people to my home to threaten to enter the residence when im not home and take the vehicle. Those people represent themselves as XXXX XXXX XXXX. 

There is an open complaint against them with the Florida Office of Financial Regulation.  As of today, the FLOFR was going to ascertain why they had not responded to the FLOFR complaint sent to them. Complaint XXXX When I contacted XXXXManor Resources about the illegality of their loans and tactics they informed me that they have done nothing wrong and their loans and practices are 100 % legal. 

In the same email they admit that they have been lending in violation of the exact statute that they cited. 

I could really use your help. 

Thank you in advance for your consideration. 

Best, XXXX XXXX XXXX 516.02Loans ; lines of credit ; rate of interest ; license. 
( 1 ) A person must not engage in the business of making consumer finance loans unless she or he is authorized to do so under this chapter or other statutes and unless the person first obtains a license from the office. 
( 2 ) ( a ) A person who is engaged in the business of making loans of money, except as authorized by this chapter or other statutes of this state, may not directly or indirectly charge, contract for, or receive any interest or consideration greater than 18 percent per annum upon the loan, use, or forbearance of money, goods, or choses in action, or upon the loan or use of credit, of the amount or value of {$25000.00} or less. 
( b ) The prohibition in paragraph ( a ) applies to any lender who, as security for any such loan, use, or forbearance of money, goods, or choses in action, or for any such loan or use of credit, makes a pretended purchase of property from any person and permits the owner or pledgor to retain the possession thereof or who by any device or pretense of charging for services or otherwise seeks to obtain a greater compensation than is authorized by this chapter. 
( c ) A loan for which a greater rate of interest or charge than is allowed by this chapter has been contracted for or received, wherever made, is not enforceable in this state, and each person who in any manner participates therein in this state is subject to this chapter. However, this paragraph does not apply to loans legally made to a resident of another state by a person within that state if that state has in effect a regulatory small loan or consumer finance law similar in principle to this chapter. 
( 3 ) A licensee may offer lines of credit not exceeding {$25000.00} and may charge, contract for, and receive interest charges and other charges pursuant to s. 516.031, except that a licensee may not offer a credit card.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief