500fastcash.com A con the song and dance business Carson Nevada
500fastcash.com based out of Carson City Nevada has been riping me off for the past two months debiting my account against my will. Around the end of march I applied for a 200.00 dollar loan with this company 500fastcash online with the agreement that I will only pay a surcharge of 60.00. Upon the agreement they have taken 50.00 dollar installments out of my account every payday since our agreement. My complaint is this company doesnt seem to know how to count because my loan should have been paid off for in June, but since last month they have taken double the amount I owe. An example of what they have charged my accountas far back as I can trace;
AUTOMATED DEBIT 500FASTCASH 500FASTCAS $30.00 07/07/2006
AUTOMATED DEBIT 500FASTCASH 500FASTCAS $30.00 07/07/2006
AUTOMATED DEBIT 500FASTCASH 500FASTCAS
$50.00 07/03/2006
AUTOMATED DEBIT 500FASTCASH 500FASTCAS $50.00 06/20/2006
AUTOMATED DEBIT 500FASTCASH 500FASTCAS $45.00 06/20/2006
AUTOMATED DEBIT 500FASTCASH 500FASTCAS
$60.00 06/06/2006
AUTOMATED DEBIT 500FASTCASH 500FASTCAS $50.00 06/06/2006
AUTOMATED DEBIT 500FASTCASH 500FASTCAS $60.00 05/23/2006
as you can see this traces back to may and they seem to have problems with there arithmetic.
Jean-pierre
pemberton, New Jersey
U.S.A.
4 Updates & Rebuttals
Robert
Wallingford,Connecticut,
U.S.A.
Actually, their arithmetic seems good.
#5Consumer Comment
Tue, July 11, 2006
What looks like happened was that the loan was automatically renewed.
The usual senerio with payday loans is:
The first 60 is the loan fee only. You still owe the original loan amount plus another loan fee. They continue automatic renewing for several pay periods.
Then, they debit the loan fee plus 50 to be applied toward the original loan amount, which reduces the next loan fee by 15.
This continues for each pay period reducing the original loan amount by 50 and the new loan fee by 15 until the loan is paid off.
The loan fees add up fast.
This should be detailed out in the loan documentation or at the very least on their web site.
Good luck.
Robert
Wallingford,Connecticut,
U.S.A.
Actually, their arithmetic seems good.
#5Consumer Comment
Tue, July 11, 2006
What looks like happened was that the loan was automatically renewed.
The usual senerio with payday loans is:
The first 60 is the loan fee only. You still owe the original loan amount plus another loan fee. They continue automatic renewing for several pay periods.
Then, they debit the loan fee plus 50 to be applied toward the original loan amount, which reduces the next loan fee by 15.
This continues for each pay period reducing the original loan amount by 50 and the new loan fee by 15 until the loan is paid off.
The loan fees add up fast.
This should be detailed out in the loan documentation or at the very least on their web site.
Good luck.
Robert
Wallingford,Connecticut,
U.S.A.
Actually, their arithmetic seems good.
#5Consumer Comment
Tue, July 11, 2006
What looks like happened was that the loan was automatically renewed.
The usual senerio with payday loans is:
The first 60 is the loan fee only. You still owe the original loan amount plus another loan fee. They continue automatic renewing for several pay periods.
Then, they debit the loan fee plus 50 to be applied toward the original loan amount, which reduces the next loan fee by 15.
This continues for each pay period reducing the original loan amount by 50 and the new loan fee by 15 until the loan is paid off.
The loan fees add up fast.
This should be detailed out in the loan documentation or at the very least on their web site.
Good luck.
Robert
Wallingford,Connecticut,
U.S.A.
Actually, their arithmetic seems good.
#5Consumer Comment
Tue, July 11, 2006
What looks like happened was that the loan was automatically renewed.
The usual senerio with payday loans is:
The first 60 is the loan fee only. You still owe the original loan amount plus another loan fee. They continue automatic renewing for several pay periods.
Then, they debit the loan fee plus 50 to be applied toward the original loan amount, which reduces the next loan fee by 15.
This continues for each pay period reducing the original loan amount by 50 and the new loan fee by 15 until the loan is paid off.
The loan fees add up fast.
This should be detailed out in the loan documentation or at the very least on their web site.
Good luck.