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Think Cash / Deceptive business practices!

72% 190
I took out a $2,000 loan from "Think Cash" - an on-line loan business. Part of their agreement is that they send you e-mail reminders of when payments are due. For the first two months they did. I have reimbursed them ON TIME.

They recently STOPPED sending reminders... as they agreed... and money is taken from the account. They are not reliable and it has cost me more money than I ever expected. DO NOT utilize THINK CASH.


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D  24th of Jul, 2007 by 
Agree Disagree +1 Votes
I don't see how this is a complaint. If you agreed to repay on certain dates, why do you need a reminder? They tell you the dates and amounts on the loan agreement and you agreed. They paid you the money and you agreed to the terms and conditions, so you should repay as agreed, even if it means they do you remind you.

If you loaned someone money, you would not like it if you had to call and bug them each time they pay you a piece of the money back, you would hope that person was of good character and would show up with the money.
D  24th of Aug, 2007 by 
Agree Disagree +1 Votes
Yeah it is your responsibility to know when your payments are due. Log on the site and look. they have it in your account.
N  27th of Sep, 2007 by 
Agree Disagree -2 Votes
You have to have an IQ of four to use these services. You realize that you're paying 365% APR for each 1,000.00 you borrow right?

D  28th of Sep, 2007 by 
Agree Disagree 0 Votes
I agree that it is your responsibility to pay back the loan and you don't need a reminder although some people do need a reminder because they may have lazy brain syndrome. Don't get sucked into these situations. Most businesses will work with you . If you have to have it get a car title loan at least you have 30 days to pay back not 2 weeks.
N  9th of Oct, 2007 by 
Agree Disagree 0 Votes
One more thing, my auto deposit is going in again in two days. If it is absorbed by some false/bogus place. I will take legal action against bank of the west.
N  2nd of Dec, 2007 by 
Agree Disagree +1 Votes
What an idiot....Just pay back the money that you borrowed by the terms that you AGREED.. My question is: Why didnt you go through your bank or another financial institution vs borrowing from an online lender. I will take a wild guess and say that your credit is probably so jacked up from not paying back other loans that this was your only option....Now you want to complain because you didnt get a reminder email????? For crying out loud. Get a life and pay your bills.
A  4th of Dec, 2007 by 
Agree Disagree 0 Votes
I have a loan with them, and yes the interest stinks, but at the same time, I am a single mother, and I needed this money to pay my bills. I tried to get other loans and it did not work. I do not agree with the comment made that you have to have an IQ of 4 to take this loan, some people do not have a choice. I did what I had to do, and I will make every last payment.
A  9th of Dec, 2007 by 
Agree Disagree 0 Votes
I had a loan with them and I got every reminder email about my payments. Looking forward to getting another loan.
N  19th of Jan, 2008 by 
Agree Disagree 0 Votes
This is what the website shows... and yet after I applied I needed all of these... You have to send in paperwork, you don't get answer in seconds, and this is a waste of time... Rethink about applying here...

Complete the easy online application.
No phone calls, no paperwork, and no faxing required. Just submit your online application for an instant decision.* It’s safe, secure and completely confidential.

Get an answer in seconds *
Once your application is approved, your funds are deposited the next banking day (for transactions completed by 5:00 PM Central Time).

Schedule payments online at any time with no penalty!
ThinkCash will even send a reminder email before each payment is due. You can also pay off some or all of your loan at any time with no penalty and save future finance charges!
D  5th of Mar, 2008 by 
Agree Disagree 0 Votes
Iam out on long term disibility and needed a quick loan, i used think cash and they are very quick, and very professional to work with, send me a reminder every two weeks, i pay and everyones happy. They always say thank you for my business. very polite people. Even though the intrest is high. sometimes we have no choice. Tom smith.
D  21st of Mar, 2008 by 
Agree Disagree 0 Votes
I've used them before with no problem. All pay-day loans have high intrest rates---but sometimes you have to do what you have to do! The key is to paydown as much and as quickly as possiable.
D  7th of Apr, 2008 by 
Agree Disagree 0 Votes
I have used think cash svcs, about 2 yrs, when needed.I vhave no complaints. yes interest is high, that's a price u pay...could be lower, at the same time i'm working on my credit, learned to be a more responsible debt payer..and to MR. I. Q. OF 4, unless you are debt free, u cannot talk...how many credit cards u got? are they intrerest free? tHE THING I LIKE ABOUT THINK CASH IS U'RE GIVEN A LONGER STRETCH OF TIME TO PAY OFF IN SMALLER AMTS., WHICH IS REASONABLE, YEAH, U PAY, BUT OH WELL... UNLESS YOU YOURSELF ARE DEBT FREE, U CANNOT TALK...
D  3rd of Aug, 2008 by 
Agree Disagree 0 Votes
The payments correspond to you pay periods. If you are paid every two weeks, the payments come out every two weeks. It's not that hard to remember.

ThinkCash, I think, is one of the best payday loan companies out there because you have the option of paying in full at ANY TIME and their payments are never over $100 per payment due. Most other lenders of this nature expect you to pay well over $100 per payment if you hope to pay it off in a reasonable amount of time.
A  4th of Sep, 2008 by 
Agree Disagree 0 Votes
I applied a 5 days ago and was told to fax documents and call etc. My information was honest and correct. Has anyone received a loan from this company without having to fax and call?
D  22nd of Sep, 2008 by 
Agree Disagree 0 Votes
think cash payments come due on your payday, unless you can't remember when you get paid.
They have this set up for you whenever you agreed to the loan agreement. I have used this company and found that they are very nice and willing to work with any individual if they are willing to pay the payments on time. So, just make your payments. They are due on every payday like clockwork.
D  11th of Nov, 2008 by 
Agree Disagree +1 Votes
Ultimately, it is the borrowers responsibility to know when to pay back the loan.

As for the lame remark about having to have an IQ of 4?

The reason for my taking about a loan of this type is last mintue travel expenses. Being able to do this online quickly and easily makes this a GREAT choice. Especially when it will be paid back in full within 2 days after interest begins accruing. Very minimal interest charges. I think you just have to know how to use them correctly.
N  6th of Mar, 2009 by 
Agree Disagree 0 Votes
i applied and was approved right away without having to fax anything. they were nothing but nice to me and i will use them again if needed-i recommend them to ANYONE who has horrid credit.
A  1st of May, 2009 by 
Agree Disagree 0 Votes
I took out a $1500 loan with think cash. I made a total of $1, 000.00 in installment payments. After $1, 000.00 in installment payments, my balance was still $1, 456.00. I decided to go ahead and pay them off. When I paid them off, I had to pay $1, 845.00. Yes, they did offer a hassle free loan when I needed it, but they are loan sharks.
A  21st of May, 2009 by 
Agree Disagree -2 Votes
These companies are pathetic, despicable, and disgusting. They prey on poor people who are desperate to get money to pay bills for basic living expenses. I recently read that the Pay Day loan companies operate in an unregulated industry. Fortunately, Congress is looking to pass bills to limit the amount of interest they can charge. I am anxiously awaiting that day. Unfortunately, many more people will be exploited before the bill is passed.
N  2nd of Jun, 2009 by 
Agree Disagree +1 Votes
Mojojojo, why should such a company be subject to regulation as long as they stick with the terms of the original contract, legally? Offering credit at a high-interest rate to people who can't get credit at a low interest rate is NOT exploitation. The reason they charge so much isn't because they're greedy—or at least no more greedy than anyone else in a free market environment. Profit margins in the payday loan industry are less than 15% on average. High interest rates are due to the high risk investments that they're making—it is expensive to absorb the risks associated with lending to people with bad credit. If Congress limits the APR much below where it is now, the companies will exit the industry as it will be impossible to make a profit. My home state of Ohio recently passed a law limiting brick-and-mortar payday loan services to something like 26% APR—this means that the company can now make a little over $1 on a two-week loan of $100. Considering the default rate is usually around 6-7% (and some estimate it is closer to 15%), what kind of business would be able to survive with such price ceilings in place?

Doesn't it mean anything to read the reviews of happy customers above? You can see that there are people who are responsible with their borrowing and can make good use of short-term lending. It all boils down to letting people make decisions for themselves—yes, even broke people.

Obviously if ThinkCash.com didn't fulfill its contractual agreement (to email the customer with reminders), then that's a different story. But email is not exactly foolproof, in this world of spam filtering and SMTP errors. Even if the company was in the wrong, it was foolish of the OP to rely on email reminders for something as important as loan payments.

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