Complaint Review: 500FastCash - Internet
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- Author Confirmed
- 500FastCash 500FastCash.com Internet U.S.A.
- Phone:
- Web:
- Category: Cash Services
500FastCash Fraudulant unauthorized debits once or twice every month for 6 months. 500Fastcashfelons Internet Internet
*Consumer Comment: A payday loan is not an installment loan. No rip-off here.
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500FastCash. Bad business.
I'm a single dad, have been disabled for 10 years and legally blind for 4. After several surgeries my vision was recently restored. I am fortunate, but, then I checked my bank statements and saw with my own eyes - 500Fastcash has been robbing me and my children for months.
I took a 'payday loan' from 500Fastcash for $150.00 in July 2007. The loan, plus interest, was to be reimbursed/paid to them, with 4 on-line, direct debits of $45.00 each, from my bank account on the 3rd of each month,( aug., sept., oct., and nov. 2007): Total $180.00
As of November 2007 500FastCash had debited my account 4 times @ $45.00 for a Total of $180.00 as planned.
500FastCash has also fraudulantly made 2 additional debits of $95.00 each. One unauthorized fraudulant online debit of $95.00 in Dec. 2007 and another unauthorized, fraudulant online debit of $95.00 in Jan., 2008. They stole $190.00 from us.
500Fastcash.com is clearly a criminal operation; however, these criminals are heartless sociopaths.
Gregsterp
Lake Elsinore, California
U.S.A.
This report was posted on Ripoff Report on 01/09/2008 07:39 PM and is a permanent record located here: https://www.ripoffreport.com/reports/500fastcash/internet/500fastcash-fraudulant-unauthorized-debits-once-or-twice-every-month-for-6-months-500fast-298586. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Comment
A payday loan is not an installment loan. No rip-off here.
AUTHOR: Robert - (U.S.A.)
SUBMITTED: Thursday, January 10, 2008
What was happening is that your loan was auto-renewing each pay period. The money that was being debited from your account was for the loan fees only. None of the $45 was applied towards the original $150 loan. After the fourth renewal, the $95 that was debited was the loan fee plus $50 which is applied towards your original loan balance (making it $100.00 due).
You will need to contact them immediately to have them debit the loan balance plus the fee to pay it off entirely (should be $130). If you do not, the next debit you will see in your account will be $80 ($30 fee + $50 towards loan amount) followed by the last $65 ($15 fee plus $50 towards remaining loan amount).
Unfortunately alot of people make the assumption their payments are installments instead of reading the sites FAQ or their loan documentation to understand the loan fees. Since you were sighted enough to take out the loan, using your legal blindness for not understanding the payday loan terms is a cop out. They are debiting from your account what you agreed to.
Good luck.
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