By: Christopher Koegel, Assistant Director, Division of Financial methods | Mar 21, 2016 11:19AM
Share These Pages
WeвЂ™ve learned that portfolios of so-called cash advance debts serviced by AMG solutions are circulating within the commercial collection agency market. The so-called loan providers are USFastCash, 500FastCash, OneClickCash, Ameriloan, United Cash Loans, AdvantageCashServices, and StarCashProcessing. However these so-called debts are bogus. The customers don’t owe the debts that are alleged while the loan providers haven’t authorized, assigned, or sold any one of their loans for third-party collection.
There might be without doubt why these loans are bogus. The previous general counsel of AMG Services finalized a statement under penalty of perjury into the FTCвЂ™s lawsuit against Delaware Solutions, saying that USFastCash, 500FastCash, OneClickCash, Ameriloan, United money Loans, AdvantageCashServices, and StarCashProcessing loans have not been put with, or offered to, any party that is third collection.