• Report: #220713

Complaint Review: 500 Fast Cash

  • Submitted: Wed, November 15, 2006
  • Updated: Wed, January 03, 2007

  • Reported By:Houston Texas
500 Fast Cash
2533 N Carson St. Carson City, Nevada U.S.A.

500 Fast Cash - United Cash Loans - Ripoff Carson City Nevada

*Consumer Comment: They are tricky...

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I borrowed $350.00 from 500 Fast Cash which was deposited directly into my account. On 10/13 Fast Cash withdrew $105.00 from this account. On 11/11/2006 four days before the next payment was due on 11/15/06 I emailed, faxed and called Fast Cash that I wanted to pay off the entire loan of $455.00 with interest. On 11/15 Fast Cash took another $105 out of my account as a single payment for the month of November. When I called Fast Cash and spoke with an employee she told me that I was too late to pay off this loan. Fast Cash is claiming that the follow-up fax I re-sent on 11/14 to make sure that the loan was paid off is the only one that Fast Cash received. I told the employee that I had proof that I sent the request on the 11th. I was told I only had proof that I sent the fax but not that Fast Cash received it. However, the fax sheet indicates otherwise. I asked if I could pay the difference of $350.00 since I have to close this account and was told that I still owe $455.00 and not just the difference. May I suggest that you not use Fast Cash or any of the other companies operating under their banner. These are rip off artists and if you do not borrow from them you will not have this problem. There are far too many other loan companies on the internet for you to choose this one. Whichever one you choose check Rip-off Report first. I was not aware of this web site when I made this loan. The amazing thing about all this is that I had another online loan with 10 Dollar PayDay Loan and they charge less interest, have a telephone number and direct email, and also took the entire amount as requested following these same steps that I did with 500 Fast Cash. My plan is to contact the Texas Banking Commission and the Texas Attorney General about the problem with Fast Cash. They may not be able to do anything to help me but at least these crooks will be on their radar.

Carmen
Houston, Texas
U.S.A.

This report was posted on Ripoff Report on 11/15/2006 09:39 AM and is a permanent record located here: http://www.ripoffreport.com/r/500-Fast-Cash/Carson-City-Nevada-89706/500-Fast-Cash-United-Cash-Loans-Ripoff-Carson-City-Nevada-220713. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

They are tricky...

AUTHOR: Frustration - (U.S.A.)

I too have dealt with 500fastcash.com, and other companies as well, but 500fastcash is not like most companies I have dealt with that allow you to go online and pay off your loan early or request extension at the site.

I was unaware just how to pay off this loan since there was no option on the site, so I asked their only rep who informed me to call in at their 800 number on a business day. I did call, and informed rep I wanted to pay off my loan in full effective immediately. First I was told I had to hold to see if I could even do that. She returned and told me I could, but it would have to be 3 business days later which turned out to be 6 days....

Anyhow, I then went and re-read the original payment doc they sent me AFTER they gave me the loan. Funny thing is in California, the law states there can be no extensions on these types of loans, yet their doc informed me to pay off my loan in full, I not only had to fax them my request, but I also had to email customer service; if I did not, then they would automatically renew the loan. Seems to me they should be a bit clearer on their repayment options before granting the loan, not days after the fact.

Regardless, I won't be using them again. I only did it to see if I could, even though I already had done the same at two other sites as well. I wanted to test the rule of only one of these types of loans being allowed at the same time. These companies might say that, but they do not check, that is for sure. Still, I suppose for some, especially during the holidays, these types of loans seem like a dream come true and help folks out even if they end up paying A LOT for the chance to have access to their own funds a few days earlier than normal.
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