• Report: #1042646

Complaint Review: Hydra Fund

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  • Submitted: Thu, April 11, 2013
  • Updated: Fri, April 12, 2013

  • Reported By: Kit Ayers — Anchorage Alaska
Hydra Fund
15503 Ventura Blvd., Suite 300, Encino, California 91436 Internet United States of America

Hydra Fund Hydra Fund Deposited $300 into my checking account without my knowledge or consent and then took out $90 every two weeks. This caused my account to be overdrawn. Internet

*Consumer Comment: Without your knowlege?

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I applied online to obtain a payday loan. To my surprise this company Hydra Fund deposited $300 into my checking account without my knowledge and/or consent then withdrew $90 every two weeks out of my checking account. I was only contacted by phone and e-mail by CashNet who is a legitimate company and I took a loan out with them. I did not need any further loans and did not wish to do business with Hydra Fund or any other lenders. Prior to this incident, I never heard of Hydra Fund. This has resulted in overdrafts and my need to hire an attorney to represent me to clean up this mess. I do not understand how these people at Hydra Fund get away with ripping people off.

This report was posted on Ripoff Report on 04/11/2013 09:36 PM and is a permanent record located here: http://www.ripoffreport.com/r/Hydra-Fund/internet/Hydra-Fund-Hydra-Fund-Deposited-300-into-my-checking-account-without-my-knowledge-or-con-1042646. 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

Without your knowlege?

AUTHOR: Robert - ()

So just how could you miss an extra $300 in your account, or is this a case where did you see it and figured it was "free" money?

This has resulted in overdrafts and my need to hire an attorney to represent me to clean up this mess.
- The attorney is going to ask you that exact same question. 

Here is your problem.  If you were monitoring your account you would have reported this extra $300 to your bank and disputed it, you also defiantly would not have spent it.  Next, $90 every two weeks would have put you at 8 weeks before that $300(that you should not be spending) would have been used up.  Thus it would have been just about 2 months before you would have over drafted.  Now, not including your on-line statements that should show the withdraws, you get a monthly statement.  Meaning you had plenty of time(at least a month) to dispute the withdraws with your bank before you would have overdrawn. 

The ONLY way you would have overdrawn is if you do not monitor your accounts and/or spent the $300 that was deposited.  In either case regardless of how the money got in there...YOU are responsible for the overdrafts and other consequences.
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