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Report: #258814

Complaint Review: 500 Fast Cash - Miami Internet

  • Submitted:
  • Updated:
  • Reported By: miami Florida
  • Author Confirmed What's this?
  • Why?
  • 500 Fast Cash www.500fastcash.com Internet U.S.A.
  • Phone: 800-804-0965
  • Web:
  • Category: Loans

500 Fast Cash they are very sneaky in theri business practices. they expect a 200% finance fee for a small loan and continued charging my account after their loan was paid off Internet Internet

*Consumer Comment: shady

*UPDATE EX-employee responds: some information

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500 fast cash is a payday advance money lending internet site. After paying them off, they comtinue withdrawing money from my account, expecting an almost 200% finance charge on a $300.00 loan. according to them their small print contrat claims their company will refinance yor loan every month by default resulting in astronomical refinance fees that most people wouldn't be aware of. I never got any correspondence from this company since the beginning and they took it upon themselves to keep refinancing my loan without my permission and using my checking account to do so. I feel their business practices are very elusive and sneaky. i've borrowed from other companies in a similar way and the regular method is to settle the matter within two weeks of the loan (hence why it's called a payday loan) and not extend it UNLESS the borrower specifies to do so. After all it's my money and I feel i should give the consent to extend any loans i have out. This company needs to brought to someone's attentions for their scam operation they are running and robbing people blind. I need to contact a lawyer because they can't get away with this

Michelle
miami, Florida
U.S.A.

This report was posted on Ripoff Report on 07/05/2007 11:05 AM and is a permanent record located here: https://www.ripoffreport.com/reports/500-fast-cash/internet/500-fast-cash-they-are-very-sneaky-in-theri-business-practices-they-expect-a-200-finance-258814. 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:
0Author
2Consumer
0Employee/Owner

#2 Consumer Comment

shady

AUTHOR: Harold - (Canada)

POSTED: Monday, December 17, 2007

to the former employee, yes they have only done what was in the contract but i bet 4 refinancing fees that if you talked to any of the ppl in the office, they wouldn't be volunteering any of this info for the patrons.
it may be legal but it sure isn't ethical(what would be the point of refinancing a loan that is paid off?) doesn't the company keep track of their accounts?

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#1 UPDATE EX-employee responds

some information

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

POSTED: Tuesday, August 07, 2007

I'm not siding with the company but the contract has everything on there and it isn't small print. regardless, you need to make sure you read all of it next time. it says your account will automatically go through 4 renewals unless you send them a fax to authorize the full amount of loan to come out of your checking. you did agree for them to renew your loan when you signed up. that's how it works. they only did what you said they could do

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