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I changed bank accounts and had my original bank fax a letter to their customer service saying my account was open and valid. The letter was signed by a bank officer, and on the letterhead.
The next thing I know, my "account" with 500FastCash is moved into compliance.
They didn't debit for the $45 in September. I knew something was up.
It's October and they told me I have an outstanding balance of $195.00.
They said they will go after my debit card.
When I asked them why didn't they debit in September or October the way they normally do, they said, "we don't have a debit agreement with you". I have months of "debits" from them.
They also disputed the day that they take the money, saying they had no agreement with me about the date. Another joke. My bank statements show otherwise.
When I questioned them, their stock answer is "you are talking in circles". At least they are "truth circles".
They said they are going to hit my debit card for $700.00. I told them I can go to the Dept of Banking and Finance in my State and have them forbidden to do business here. I also told them I approached my bank with the situation I have and I said "they are ready for you". He said "I am going to end this conversation".
If you have problems with any of these places, find out where they are located and contact the state's attorney general. They will refer you to the dept of banking and finance. When there are enough complaints they are asked to "cease and desist" business in that state.
It is a state thing. I am not going to do this. I am just going to have a block put on my account after they make their first move.
Things were fine until they moved my account into compliance based on lies and deceit. They always debited from the account. Now they want my debit card. I will probably change my debit card number or account #. No matter how broke you are, and I've been there, do not deal with these companies.
The complaint has been investigated and resolved to the customer’s satisfaction.
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Email 500FastCash and fax them the following:
- that you revoke authorizition to do debit ACH, to debit your debit card, or to debit your checking account or take any more monies from your bank account.
- point out to them the laws in your state. Look this up on the web. M any states do not allow rollover payday loans and put a cap on the finance fee. (For example: california does not allow a finance fee of over 15% and does not allow a payday loan to automatically rollover and only allows a one time $15 fee for a bounced payday loan.
- Request that they mark your loan as paid in full and that they email you that they have.
- Tell them you revoke authorization for them to contact you via phone or mail either at work or at home, and that you revoke authorization for them to contact your references by either phone or mail
- Tell them that they can only contact you via email.
- Be polite but firm and thank them for their prompt attention to this matter. Make sure you contact them at least 3 days before you next payment is due to stop it in time. I've tried this with several payday loans and it's worked on two so far. I'm waiting to hear from the other day loans.
- Lastly point out the amount you borrowed, what the agreement was to pay back (For example: Loan was for $300; total payment was to be for $390.) Then point out that you have made a payment of 105. every two weeks for however many weeks (put the dates of your payments - look online at your bank statement to get this info). Then point out how much more over the agreed amount to pay back (for exampe: 601 dollars instead of 390 for a total of 211 over the amount). Point these numbers out before you ask that the amount be marked as paid in full.
Good luck.
Attorney General McGraw Continues His Success in Halting the Making and Collection of
Payday Loans in WV. $1.57Million in total relief to date.
When Attorney General Darrell McGraw directed his office to investigate the Internet payday lending industry in 2005, few
states had dared to assert their authority over the industry at that time. Notwithstanding the obvious hurdles, McGraw’s
investigations of dozens of Internet payday lenders and their collection agencies have been very successful, prompting other
states to enforce their laws regulating or prohibiting payday loans.
Today, Attorney General McGraw announced settlements with 17 more Internet payday lenders and 14 collection agencies,
bringing the total obtained from his investigation of Internet payday lending industry to $1.57 million in cash refunds and
cancelled debts for 6096 West Virginia consumers.
The latest settlements include three lenders owned by federally recognized Indian tribes who assert they are immune from suit
by states under the legal doctrine of “tribal sovereign immunity.” The settlements with the tribal corporations, Miami Nation
Enterprises and SFS, Inc., affiliated with the Santee Sioux Nation of Nebraska, and MTE Financial Services, affiliated with the
Modoc Tribe of Oklahoma, resulted in $128, 239.50 in cash refunds and cancelled debts for 946 West Virginia consumers. The
companies did business under numerous trade names, including:
Miami Nation Enterprises
d/b/a Ameriloan
d/b/a Cash Advance
d/b/a US Fast Cash
MTE Financial Services
d/b/a 1000PaydayCash.com
d/b/a 500 Fast Cash
d/b/a Nofaxingpaydayloan.com
SFS, Inc.
d/b/a Preferred Cash
Loans.com
d/b/a One Click Cas
I took out a $150.00 loan from 500fast cash, actually I applied for $500.00. they sent the $150.00 anyway, claiming payoff amount is $195.00. They have taken $45.00
per month from my checking account every month without
any decrease in the indicated payoff amount. This company is a scam, as I have paid the $150.00 loan 5 times by now
SCAMS! 500fastcash, fastcash, etc..
I had same situation with 500 fast cash. They start debiting my account 45 dollars without notifying me. i told i will pay my loan of 195 dollars on the first payment as whole, but they started the 45 for 4 weeks then they debited 195 at the end i payed 310 dollars for 150 load.
They are a fraud and they are running a scam
Saiddirie
I am very upset. I took out a small loan with them and paid them back. They continued to debit my account so I had to close it. And they sold my information to someone else and they debited $900 from my account! Now they are calling my work over and over and threatening me. The guy calling says he will make sure I get fired and there's nothing I can do as they are not governed by the Fair Debt Collections Act. I can't get them to stop calling me at work even though they have my personal cell number. Today he said that he has my new checking account number and credit card and will take the money from there. But I don't even have a checking account or credit card.