Check out the NM Attorney General's web page http://www.ago.state.nm.us/divs/cons/loans/cons_loans.htm
She is warning all NM citizens about the predetory lenders in NM. This is a list of the ones in Carlsbad:
Sun Loan Co., a corporation from San Antonio TX
Liberty Finance, a corporation w/ a Carlsbad mailing address
National Mortgage Co., a corporation w/ a Carlsbad mailing address
Security Finance, a sole proprietorship owned by A.R. Briggs Carlsbad address
1st USA Title Loans, owner - Anthony Williams Carlsbad address
Hometown Mortgage Service, owners - Rene & Cecilia Salcedo Carlsbad address
Zia Finance, a division of Security Finance - see above
World Finance, a corporation w/ a Carlsbad mailing address
Check n Go of NM, a corporation from Madison Ohio
Fast Bucks of Carlsbad, NM LLC, a corporation - lists Charles Horton, owner
Home Pro Mortgage, a sole proprietorship owner not listed manager Oscar Caballero
Grumpys Loan Center, corporation w/ Carlsbad address
Associates Financial, no owner listed / primary contact - Mike Sandate
Your Credit, Inc, a corporation w/ Carlsbad address pc - Royal Management
Easy Money of NM, Inc., a corporation w/ a Virginia address pc - David Greenberg
Pecos Valley Mortgage, a sole proprietorship - Tommy Martinez
This is a list of most of the current loan sharks. At least if they are owned by someone from Carlsbad, the money stays in the Carlsbad economy. The ones that are owned by out of state corporations bleed the money from our economy. Carlsbad cannot afford these businesses.
The AG has commercials warning you against these places. If you skip a payment at a payday loan place and don't make it up, all of the rest of your payments just go to interest. You will still owe the same amount in a year. The title loan places can take your car if you miss a payment.
Think - These loans cost more than 750% annual interest. No one can afford to borrow from them. Don't do it. The majority of their clients are on Social Security or minimum wage. They are taking advantage of desperate people who can least afford it.
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I live in Las Vegas, Nevada, although I grew up in El Paso, Texas. Since you are in Carlsbad, I felt close to you and wanted to ad something to this article. The reason I found the article is because I am searching for anything regarding Your Credit Inc or Royal Management. You see, I have been job hunting and leaving my resume on jobsearch internet sites. I received a cold call from a man in San Antonio who wanted to hire me for one of his Las Vegas offices. He said he was a finance company and needed to interview me immediately (the day he called). I told him I wouldn't be available until two days later. He was not happy about that then said he would have someone else call in about 15 minutes. They did, they also were calling from San Antonio. He read my resume to me and said I would be a great office manager, that he would have someone in Las Vegas contact me in about 15 minutes. I asked the name of their company. He said "Royal Management". When the Las Vegas person called, we set up an interview for today (two days later). I again asked for more information on the company and he said he would provide it at the interview. Feeling uncomfortable, I began my internet search. I always like to see what the company is before my interview. I was unsuccessful in finding anything on Royal Management. I then called the local number given just to get a company name. They answered the phone with "Your Credit". After finding a lot of negative stuff, I called this morning. When I asked again the name of the company, I was told "Royal Management". I told them that this company doesn't have offices in Las Vegas and nothing notable on the internet. He then said oh, we are actually "your credit". I asked about a company website. None... I asked if they had email. No - no one in the company has e-mail. (that's funny, cause that's how they got my original resume!!!). They were also unaware of any offices in San Antonio. When I reminded them of how they found me, they said "oh, ya, maybe". The person then said he actually had his own e-mail. I requested more info on the company. He said fine - I haven't heard anything else. I don't mean to go into such detail, but, the way everyone behaved, including wanting me to go to their office to fill out an application immediately, my gut was telling me that not only was this not an employment offer, but, if I filled out an application with my personal information including social security number, who knows where this would lead me. Initially, the first person who called was wanting my credit information in order to "get to know me". I told him I couldn't give out anything to anyone who just calls at random. Well, I chalk it up to an employment scam. I am also very greatful that people like you expose these companies so I have a tool to make educated decisions.
Thank you.
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