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Posted: Mon Mar 31, 2008 11:39 am Subject: SDS Processing (ASAP Lending)

I had an account open with these guys starting in June 2007 for a $250 loan. They took $150 out of my account every month until today (so they have been paid $1500!). I sent them a C & D letter and they responded:

Ms. ######,

In response to your letter, regarding your loan with SDS Processing, we will no longer debit fees from your account. We will not be refunding any fees to you. We have forgiven the $250.00 loan that you have not paid. If you did not agree with the terms of the loan, you should have not taken the loan. When the loan was processed the terms of the loan, including the fee amount was explained to you by a representative of our company. In addition you received the terms in writing when upon completion of the loan processing. Again, you have not paid the $250.00 loan and no fees will be refunded to you.

Sincerely,
SDS Processing

Am I entitled to a refund? I have filled out a complaint with my NC Attorney General with a copy of the letter I sent and a copy of their reply and sending it out today.

Posted: Mon Mar 31, 2008 4:13 pm Subject:

OMG! Heck yes you are entitled to a refund! I don't know that you'll be able to get one though, I know very little about this particular company so it's best you wait until someone with more experience and knowledge about them come along to help you out. What state do you reside in? Is your bank account still opened? I don't think I would trust these people, if they took that much money from you already, they're might try to wipe you out. If your account is still opened, you should close it ASAP! Or, contact the Bank Manager and put a hard debit block on that account so these people can't take any more of your money. If it were me, I would simply close out the account. Please hang in there until someone else with more knowledge about this is available to help you. Regarding clsoing accounts, please read the link below before you close your account. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Posted: Tue Apr 01, 2008 5:24 am Subject:

Thanks for the response! Im in North Carolina, so I know they are illegal here! I hoped I wasnt in the wrong with this one! I sent a letter to my AG yesterday with copies of my letter and the return letter so hopefully that will get the ball rolling. I just checked my account, I already put a hard block on any ACD debits going through, and nothing strange has been taken out of my account, so as of now, im ok. Im still going to fight to get a refund. I cant believe these people and that they will "forgive me". Whatever! Im going to try to get my money back!