Direct Capital Applied for business funding; my account got an ACH charge for 429.00 Portsmouth New Hampshire

My business needed funding to expand operations, so I decided to apply to some merchant cash advance services to get $150,000 in working capital. Most of the merchant cash advance services gave me the run around, and kept asking for more information; all of the services either stopped contacting me once they got the information that they requested, or backed out of the deal at the last minute.

Direct capital promised me a merchant cash advance, and assured me that any fees would come out of the advance. I never got the advance, but had my account debited for $429. I was lucky I kept no money in the account that I provided to them to wire the advance or I would have been out of $429 in unauthorized charges. They ended up wasting my time by making me spend several hours at my bank to sort the issue out. Fortunately for me, HSBC was an understanding bank, and reversed the transaction. I am going to change my account number right now to prevent any other unauthorized charges to my account from occurring in the future.

I guess I should have gotten a check rather then a wire transfer, but I don't trust checks.

Is their any legal recourse that I could take since I didn't lose any money because of their actions. I would like to sue them for the $150,000 that they promised me as an advance because I really need that to properly fund my business, but I don't think I'd be allowed by the courts to do that.

Mike3620
Macedon, New York
U.S.A.