Legal Question in Credit and Debt Law in New York

Advanced loan fee

Hi, a few months ago I was looking to receive a loan to help pay off some bills. I found this company Personal Credit Services, Inc. who promised me a loan for just a small fee of $250 dollars. I paid the fee and then received a list of banks that offer loans. I didn't get a loan from them just a list. I contacted Capital One to dispute the charge and they said the company was at no fault even though I didn't receive what I asked for. Also, according to the Better Business Beurea, advanced loan fees are illegal. The company said they will get me a loan, not a list. Are advanced loan fees illegal and how can I get my refund. I am looking for the $250 plus any over charges after Capital One put the charge back on my account. Do I have a case against both Personal Credit Services and Capital One?


Asked on 4/17/08, 11:36 am

1 Answer from Attorneys
Guy Lewit Guy Mitchell Lewit, Esq.

Re: Advanced loan fee

Get the BBB to send you the law that states the loans are illegal. find out where Personal Credit Services are located. If they are local to you you can sue them in Small claims court...otherwise you would have to sue where they are located...it might not be illegal where they are located and you probably would incur more charges than you would recover...where did you find person credit services, inc.?

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Answered on 4/17/08, 1:24 pm


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