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CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

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miay2k4
Contributor

CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

I'm active duty Army serving in Iraq for the third time.  I can handle just about anything life throws at me.  I am having extreme difficulty with two famous military lending companies.  I'm sure that most of my fellow men and woman of the Armed Forces are fimailiar with these two companies:
 
Omni Military Loans
Pioneer Military Loans
 
I am at a lost.  My scores are TU Fico 543  EQ ???FA (Working on removal) Fako 511  EX Fico 553
 
I have a co with pioneer and omni for well over $3500 on each.  They are very difficult to work with.  I have managed to work with pioneer to continue making monthly payments for a settlement amount.  Each month I make payments my balance decreases on my cr, but it stills reports as a co.  The only reason I am continuing to make payments is to some how keep them from selling to a ca until I can figure out how to make this account go away.
 
Omni reports as a co with a remaining balance and sold it to a ca.  They will not deal with me at all for any kind of settlement or pfd.  The ca has not contacted me in any way yet.
 
My question is for any service member or expert with knowledge or experience with these two companies.  Is there a back door number, mailing address or anything at all that can help me get rid of these two accounts?????  Any input what so ever would be greatly appreciated.


Message Edited by miay2k4 on 06-29-2008 01:43 PM
07/2009 TU: 610 EQ: 566 EX:??
12/2009 TU: 626 EQ: 588 EX:??
05/2011 TU: 638 EQ: 622 EX:??
"Don't get caught up chopping wood to the point you forget to sharpen your axe"
Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

The Navy Marine Corps Relief Society has tons of products available now to help servicemembers stuck under a payday lender.
 
But since you're in Iraq right now, and for your third tour, then you should take that extra combat pay and PAY THOSE THINGS OFF. You really shouldn't even need too much of a payment plan -- just five months of combat pay, plus whatever other special pays you receive, should close those suckers out pretty quick. And on your third tour? What did you do with the extra money you received on your other tours? You've got to buckle down and use that extra pay to get these debts off your shoulders. It's so easy to let all the special pays just trickle between your fingers and for you and/or your family to live to the very max of that extra money. Instead, live like you're NOT getting any extra money and use it to pay off these debts. Once it's paid off, then take any extra pay on your future tours and put them into a TSP or other savings account.
Message 2 of 10
Anonymous
Not applicable

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

Excuse me.. I mentioned NMCRS but that's a Marine/Navy product. You can still go to military onesource, either online or calling, and find out the Army's equivalent to the Relief Society. They do have their own Emergency Relief Funds for Army families. There are both loans and grants available.
 
But this won't be like a payday loan where you can take out more than your budget can manage, and then stop paying... or keep coming back for more whenever you want. It will be based on the am't of time you have left AD, and if you don't have enought time left to repay the entire amount, they won't even give you the loan. They will create a budget and it will probably be a wakeup call for you in where all your money is going. Then the repayment will be set up on allotment, so you can't default on it. It is interest-free though, which is way better than the predatory rates you get at payday lenders.
 
 
 
Message 3 of 10
guiness56
Epic Contributor

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

I currently have loans with both companies and have never had a problem with either of them. My payments are made by allotment so I do not have to worry about getting behind.

I am unable to provide a toll free number for Omni because the website is not responding. This is a local number for WA state: 253-588-6664. I can not remember the managers name but , Angel will normally answer the phone. Both of them are very nice and hopefully will work with you.

Once it is charged off, whether you make payments or not, it will continue to show as a CO. When it is paid in full it will show as a paid CO. Both hurt about the same.

Once it is paid you could try a GW and ask them to remove it.

As for Omni selling the loan, they must show a zero balance, but can still show as a CO.

Omni and Pioneer are not payday lenders. They are legitimate loan companies that cater only to AD military. Their finance rates are not too bad.

Since it is now illegal for military to get payday loans, no one should be having that problem. Unless of course, it was done before they were banned.

Message Edited by guiness56 on 06-29-2008 08:01 PM
Message 4 of 10
tcham54687
New Contributor

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

I'm prior Navy, recently retired. Most military service branches have a family services office which offers advice on financial matters and a legal services office which can sometimes help. I know its easy to assume that it's best to not let anyone know that you are having financial issues, but trust me there is a lot of help available.
 
I'd talk to the financial counselor in the fso first, then legal to see if they can help. If you request help, they have to keep in confidential. If those creditors contact your command directly, it might not go as well for you.
 
Good luck, and thank you for serving!!
APR 25, 2008 FICO TU:668/EX:654/EQ:642
Jun 05, 2008 FICO TU:698/EX:697/EQ:709
Aug 01, 2008 FICO TU:724/EX:741/EQ:749
Mar 15, 2013 Fico TU 725/EX 677/EQ/735 (EX has a $60 collection...#$%^ me)
Apr 7, 2013 FICO TU 756/EX 747/EQ 771
Message 5 of 10
miay2k4
Contributor

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

Thank you all for responding.  I think I gave you all the wrong impression.  I do have the money to pay off these debts, and I would very much like to do so.  These two companies are credible and were very easy to deal with as fas as establishing the loan, but now that I have defaulted I need to get in contact with someone in there higher ups to pay them off. 
 
Being in the Army finances are always a touchy subject to bring up; exspecially for an NCO like myself.  In between deployemnts I took these loans out, but just could not keep up the payments.  I was young and impressionable.  I now regret this.
 
Am I protected under some military regulation or federal act that I am not aware of?  Has anyone ever successfully done a PFD?  Is there any literature out there that I need to familiarize myself with?  I am not trying to get over on these companies, I just would like to make good on these debts now that I am in a great financial position to do so. 
 
I really need more feedback from anyone with an opinion.
07/2009 TU: 610 EQ: 566 EX:??
12/2009 TU: 626 EQ: 588 EX:??
05/2011 TU: 638 EQ: 622 EX:??
"Don't get caught up chopping wood to the point you forget to sharpen your axe"
Message 6 of 10
Anonymous
Not applicable

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

Being a SNCO, it is even more important that you let your command know this *might* be an issue, before they get skylined when the creditors contact them!!! It is acceptable for a junior soldier to screw up and then try to cover it up.,.. but now as a SNCO, they expect you to be the example and definitely keep them in the loop. Your command will be a lot happier if you do it this way.  Oooh talk about "touchy" it'll be a lot less touchy if you give them the heads-up than if MHG SgtMaj or whatever the Army equivalent is, calls your CO to find out why a lender is trying to contact him, and your CO doesn't have a good answer because he had no idea of the situation.
 
And if you have a clearance, you don't have the luxury of holding off payment until you can swing the creditor or collector to take it off your CR. A paid CO looks a lot better than a soldier w/ a $7K bribery potential.
 
Use the contact guinness gave you.. for the one that's already in collections, you've just gotta pay it before it hits your CR. **I'd like a mod to confirm this but I believe a CA cannot place a collection on your CR if you pay it off before they report it to the CRAs***.
 
The SSRA can only be used if you notify your creditors and provide your orders BEFORE you deploy. Very very few lenders will allow you to provide orders at a later date.
Message 7 of 10
guiness56
Epic Contributor

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

SSRA is only for accounts that were made BEFORE you came on active duty and would not apply in either case. You stated you are AD so I assume you are AD and not guard/reserve who is deployed.

The best thing to do, and I speak from experience, is pay in full if you can. The last thing you want/need is for them to contact your CO or have your clearance pulled. It is much easier to explain an item that has been paid versus one that is not.

I would pay it first then worry about getting it removed or changed on your CR. As Ivy said a paid CO is much better than an owed debt.
Message 8 of 10
miay2k4
Contributor

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

I really appreciate all the feedback.  I am well aware of the situation I am in as far as security clearance, notification to my superior officer and all that is why I need some help.  I would like to deal directly with the oc's on this.  My prob is that Omni will not even talk to me.  They automatically transfer me to this collection agency.  From what I am getting from everyone is to pay this.  Do you mean to the collection agency? or OC?  I have my combat money to use, but I would like to speak with someone higher up in these two companies. 
 
Is there anyone out there with a good number or a person I could speak too who might be able to allow me to restart my allotment?  Who is the CEO of Pioneer & Omni?  Do they have some sort of legal compliance dept?  Is there a friendly loan specialist?  Do they PFD?  Is there a corporate address?  Who does the funding for this company?  I have exhausted all of my efforts over hear.  There is only so much time I have to use the phones here.  Mail is extremely slow here.  I really got myself into a jam this timeSmiley Sad
07/2009 TU: 610 EQ: 566 EX:??
12/2009 TU: 626 EQ: 588 EX:??
05/2011 TU: 638 EQ: 622 EX:??
"Don't get caught up chopping wood to the point you forget to sharpen your axe"
Message 9 of 10
guiness56
Epic Contributor

Re: CALLING ON ALL SERVICE MEMBERS FOR HELP....Active, Reserve, Retired, Spouse etc...

The best I can do is give you the email addresses for each company. Ask them for the CEO or Finance Officer.

Omni

customersupport@yesomni.com

Pioneer

customerservice@PioneerMilitaryLoans.com
Message 10 of 10
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