Yesterday, DFI issued a consumer alert regarding a possible payday loan collection scam being conducted by a company using the name Southwest Recovery.
According to DFI’s Division of Consumer Services, Washington consumers are being contacted at their home and work telephone numbers regarding payday loans made sometime in the past by Ace Cash Express that defaulted and were sold to collections.
No affiliation between Ace Cash Express and the scam collection activities has been identified.
The representatives of Southwest Recovery aka Rick Williams make numerous and repeated harassing telephone contacts with the consumer, threatening legal action unless the consumer pays the requested fees.
Southwest Recovery aka Rick Williams is not licensed by the Department of Financial Institutions as a payday lender or check casher or seller in Washington State.
Washington residents who are contacted by Southwest Recovery should use caution and are encouraged to file a complaint against Southwest Recovery with DFI at http://dfi.wa.gov/cs/complaint.htm.
To view the full consumer alert visit: http://dfi.wa.gov/consumers/alerts/southwest-recovery.htm.