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Report: #251025

Complaint Review: Equity First - Las Vegas Nevada

  • Submitted:
  • Updated:
  • Reported By: clovis California
  • Author Confirmed What's this?
  • Why?
  • Equity First 5348 Vegas Drive #977 Las Vegas, Nevada U.S.A.
  • Phone: 973-474-9505
  • Web:
  • Category: Loans

Equity First Savings Theft to my name 5348 Vegas Drive #977 Nevada

*UPDATE Employee: Repsponse to Report: #251025

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I got a notice of insufficient funds by mail and I came across $124.90 that was taken from my account. I call my bank and ask where did the $124.90 come from and who is it. They gave me the name and phone to call. So since i'm on the net, i might as well check the phone on google to see where it came from. And i got this page saying that its a SCAM. Ohhh was i mad.

May
clovis, California
U.S.A.
According to the majority of victims interviewed by Rip-off Report, those who immediately called their banks to dispute the charges did not get very far. Many victims got the following responses from their banks: we could not do anything for you or you waited too long; it has been more than 60 days.

If the bank is says that you have waited too long, explain to them how you called their 800 number as soon as the charges were found, and were told by the bank that nothing could be done. Remind the bank that they failed to assist you properly at the 800 #, and instead, provided you with an inadequate explanation of your right to dispute. Tell the bank that it's their fault time has expired, and since they gave you the wrong info to begin with, they will just have to deal with it, take the loss and reverse the charges.

Tell them the truth; this was unauthorized and your account was NOT to be charged! Keep emphasizing how you never authorized anything! Direct them to the hundreds of victims reports that were filed on Rip-off Report.com. And if you're at the bank, walk them over to their computer and make them go to this site! If you are on the phone with them, tell them you will wait while they access this site! Either way, be persistent!

DO NOT TAKE NO FOR AN ANSWER!

Let them know nicely, that you were advised to Report them (the Bank) and this situation to the Banking Commission in your state. Since each state has a different name for the agency/controller over banks, find that name before you call or get to the bank so you can throw it in their face. The more knowledgeable you appear to be, the further you will get.

And just continue to demand the Federal Regulation E form! The bank CAN, MUST and WILL reverse the charge! But, you must be persistent; ask to speak to the supervisor or the area manager for all the branches in the state.

Let the bank personnel know you are meeting with the media later in the day, that you would much rather they do the right thing (as most other banks have) by looking at the complaints and immediately reversing the chargetruth.

If you have to, be loud (but nice) in front of other customers. If you are just calling by phone, the above tactics s) to your account; no matter how long ago it was. Be sure to call the Media if necessary so you are telling the EDitor's Suggestions on how to get your money back!

HERE IS WHAT RIP-OFF REPORT SUGGESTS YOU DO:

demand tion E.
Go to your bank within 60 days of the charge, or as soon as you know about the charge, don't delay, and tell them that there has been fraudulent activity within your account. Explain that you wish to file a dispute, and orm.

This report was posted on Ripoff Report on 05/29/2007 03:37 PM and is a permanent record located here: https://www.ripoffreport.com/reports/equity-first/las-vegas-nevada-89108/equity-first-savings-theft-to-my-name-5348-vegas-drive-977-nevada-251025. 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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REBUTTALS & REPLIES:
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#1 UPDATE Employee

Repsponse to Report: #251025

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

POSTED: Friday, July 20, 2007

Webchex International is the administrator and handles all customer service for equityfirstsavings.com and starterloansdirect.com. The program that these sites offers is not a typical loan, this EFS-Secured loan is similar to a savings secured loan, usually only available at banks and credit unions. In this program, we create the $10,000 secured savings account, and use the savings account that we provide on your behalf as collateral, but no cash is released to you, the customer. This money is frozen in the account. As the loan is paid, the total cost to the applicant is only $24.95 a month, the applicant gains credit by paying the monthly cost of the loan established for them. This has advantages for the borrower. If the borrower defaults on the loan the collateral is already in the lender's possession so it is a very low risk, and pre-approval is guaranteed. As a result, the lender usually offers a much lower interest rate. With this program the rate is a low $24.95 per month which equals out to less than 4% per annually. Unsecured credit is earned in as little as 90 days of on time payments and it is based on your current payment record with the company and not your past credit rating.

What is an EFS Secured Loan?
This is a finance contract used to establish a secured savings account for a stated term. This is also called a credit starter loan used to help individuals establish credit through a payment record. This loan does not offer CASH to the borrower but allows them to use a savings account in exchange for a monthly service fee. It allows the lender to see if the borrower can make consistent on time payments without taking any financial risk from the borrower. At the same time the borrower builds a credit history and will be able to qualify for additional credit.

Completing the Program
As you complete your on time payments, it will prove that you can make constant payments with the lender you have been assigned and when you complete this program we will then offer you an unsecured loan based on your current income and your ability to pay.

Qualifying for Additional Credit
To qualify for additional credit every customer must complete the program with no late payments. Late payments are classified as 30 days or more past the due date. Additional credit can be considered as short term Cash loans, Home Equity lines of credit, Store Credit or any other type of credit issued through Equity First. The amount of unsecured credit will be established based on the ability to pay and current income.

Showing Responsibility
While we make it easy to help establish credit, you are responsible for the payments and charges you accrue with membership. If you make changes to your checking or wish to pay your dues off early please contact us at www.webchex.org. Please understand that as easy as we make it to help establish credit not making your payments can adversely affect the account and could hurt your credit score.

If you would like to reach customer service, there are a number of different ways to do so. You may email customer service at any time through Cservice@equityfirstsavings.com. You may login to your account at any time and send in any inquiries regarding it through www.webchex.org. If you are looking to speak with a live representative, LiveChat is available at www.consumerbill.com during business hours of 8:00 am to 4:00 pm Pacific Standard Time. You can also access our Fraud Prevention Center and Cancellation Center through this site.

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