My bank and my PDL nightmare...
Date: Wed, 04/16/2008 - 13:03
I immediately informed my bank (Charter One) of this fraudelent activity. I filled out an affidavit and they (the bank) have started their nvestigation. My account has been placed in a 'Credit' only status.
My question is, how long does it take the bank to conduct such cases? I was informed it would be about 10 days before I'll see my money back into the account (FYI---I've already opened a new account with another bank). After I get the money, I'm closing the account for good.
I think is varies from bank to bank. If they said 10 days, it ma
I think is varies from bank to bank. If they said 10 days, it may take that long; however, sometimes it goes quicker than that. As soon as you get that money, close that account! And make sure you have the assurance that it will not be forced back open due to pdls. 500FashCash pulled a fast one on you. That's MTE for you. Sneaky and evil. They pulled an electronic check on me with USFastCash.
so the bank will help you regain the excess you paid on a loan?
so the bank will help you regain the excess you paid on a loan?
No, however prior to the electronic check incident, I informed m
No, however prior to the electronic check incident, I informed my bank I did not want 500FastCash to be allowed to take out a dime from my account. Bank stated I should expect to see my $480 back and any late fees (if any) that may accrue over that period. I'd be happy with that and then will promptly close the account.
It depends on your bank's policies. If you tell them that there
It depends on your bank's policies. If you tell them that there is fraudulent activity on your account and that you didn't not give this illegal company permission to debit your account, more often than not, after some paperwork and a couple of weeks, the bank will credit the money back to you. You will have to "fudge" a little when you tell them that you did not give permission to these PDL companies to debit your account, coz we all at one time signed those loan documents. I just think of it this way...you never gave permission for an ILLEGAL PDL to debit money from your account...
Once it is known that the PDL you are doing business with is illegal and is not even SUPPOSED to be doing business with you, I feel like all original "contracts" are void. Sure, in good faith, pay back the principal borrowed, but be damned those outrageous interest fees and rollovers.
The principle has been paid off and then some! I'm all for payin
The principle has been paid off and then some! I'm all for paying off my debt. I've never missed a payment on anything beit a mortgage or credit card. That said, that doesn't give these pdl guys a right to gourge my account on a whim. That time I checked I wasn't 1st National Bank. Although I do wish I had a 'money tree' in the backyard, especially when the Sallie Mae bill comes around (don't get me started on those guys). ;)
Oh no, I am never in agreeance of PDLs "gouging". I was just ju
Oh no, I am never in agreeance of PDLs "gouging". I was just justifying your standpoint when you have to claim that "you never gave permission" when dealing with the bank in getting your money back.
I have had to go through "fraud" claims twice with my bank. Both times, it's because I bought a product that a) turned out to be bootleg, or b) never arrived at all. The bank asked me if I ever gave permission for these companies to debit my account. Well, yeah, I did, when I thought they were a legit company. If you say "yes", the bank tells you there is nothing they can do to help you. So if lie a little and say, "No, I never did, I've never even heard of these people", the bank will actually take every measure necessary to get your money back. Personally, I always felt a little bad out being a little dishonest with my bank to get my money back, but hell, it was the only way to get back what had been ripped off from me. Like I said, just a little conscience thing for me ^_^ I make myself feel better by justifying it, lol.