Who is MTE FInancial? They debited my acct w/out authoriz...

We have two outstanding payday loans out, one with Instant Cash USA, and one with Apple Payday. We have had apple payday loans in the past and have had no problems with them other than the outrageous interest. WE took out a $200 loan with Instant Cash USA and have made 4 payments of $60 each, interest only. We missed one or two payments due to our account being garnished for local taxes. This past payday our account was debited with several authorized debits but also with one unauthorized debit to someone called MTE Financial for $110. I do not know who these people are, have never spoke to them on the phone, nor received mail from them. I have no loans in their name nor can I find them on the internet. I have gone to the bank and they contacted the electronic transfers dept who has no contact information for MTE and no idea who they are. Somehow MTE Financial obtained my banking info and made this transaction without our authorization. I filed an advidavit with the bank but do not know how to contact MTE and find out if they are legit. Please help.

MTE Financial goes by several names. Ten Dollar Payday Loan, No-faxing-payday-loan, and Rio Resources. The last known place of business is Miami OK. Search for MTE Financial on this website. There are many posts about them.

P.S. they are very far from legit!

MTE Financial is AKA Rio Resources. They have a few other DBA names.

http://www.debtconsolidationcare.com...bout14929.html

Did you authorize them with your checking account info?

We did not authorize MTE Financial to debit our acct. However, if it turns out that they are Instant Cash USA then we did authorize Instant Cash USA to debit our acct for $60 (interest only) every two weeks until we were able to pay off the principle. Our loan with them was received on August 31 and we have made four $60 payments since then. Our bank account was overdrawn and one of the payments didn't go through. We had no contact number to advise Instant Cash USA of the problem and then this week when our deposit was made we discovered that some company named MTE Financial took a $110 debit from our acct. While we did authorize Instant Cash USA we did not authorize MTE Financial. Are they actually the same company?

You need to go to the bank and tell them about MTE Financial. They have debited from your account you never authorized. They will be able to block the company from doing further debits. The company will call later after not getting the money. Then you will ask them for the real cause. First, block them from further debits and if you request your bank, they will dispute the charges with the company. If it's not verified, money will be put back into your account.

That is the problem with these companies, they go by so many different names and if you block one of the dbas they will either present a paper check or use one of their dbas to debit the account.

Most people here have ended up opening a new account because of this. It is next to impossible to find out all of these companies dbas, they are numerous.

Well I see Rio now has another name to add to their long list. I hope these people go down and soon. KYSIDE38

That is the name they had on my contract when I had them, MTE (in very very fine print though, I had to read that thing over and over before I realized it.

I knew they were MTE not Instant Cash Usa , thats a new one to me. KYSIDE38

I noticed that MTE financial payment tok $65.00 out of my checking. I don't have a payday loan with this company so why was the moeny taken. please explain?

If you did not loan with this company, then dispute the information with your bank. MTE Financial has many different names so it could be one of those companies that the are debiting for. If you have the contract, review it, I am sure MTE Financial is in there somewhere.

hi there,
I took a loan on the 27th of nov. I will not be able to repay it on the 8th of dec. I was wondering if someone could call me about this matter.
thank you
naomi kinard

I am having the same issue with MTE right now. I have so many loans out it took a while to notice. I am drowning in loans; they are sucking up nearly my whole paycheck. Starting to get scared now. Help, any suggestions?

Vera,

Are all your pdls internet? Have you paid back the principal amount borrowed? If so, then we need to look at if they are licensed in your state, what interest rates they are charging.