Complaint Review: CashNet500

In August of 2006 I took out an online payday loan from this company. All was fine until my payroll dates were changed. I informed them of the new dates and that I would need my fees to come out on those dates, otherwise the funds would not be there.

They refused to comply and charged me a month's worth of fess and two separate $175 debits from my account which were unautorized. This caused my account to be overdrawn and my bank has charged me almost $200 in fees, plus $6/day for every day my account is overdrawn- all because of CashNet500 making those unauthorized debits to my account.

I have contacted them via email and phone and have not received any response. I am having to dispute the charges with my bank, but I will still have to incur all of the fees from NSF and overdraft. I am also contacting the states attorney general and the Dept Of Financial Institutions. Companies like this who prey on people who are down on their luck should NOT be in business. Someone needs to regulate these companies and keep them from doing this to other people.

Obviously if I was desperate enough to have to take out an internet payday loan, I cannot afford all of the fees I have now been charged because of these people. Let this be a lesson to everyone reading this- do not trust these types of companies. Their businesses thrive because they take advantage of people like me who are having trouble getting back on their feet due to unexpected life events.

Erin
dallas, Texas
U.S.A.