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can we do anything if they take out the loan too early

Date: Thu, 12/28/2006 - 07:58

Submitted by mattmosmom
on Thu, 12/28/2006 - 07:58

Posts: 8 Credits: [Donate]

Total Replies: 6


I am wanting to post this comment for anyone who reads it, I have learned alot from this site and I am thankful you are here and available to us, I took out a internet loan with ez loans by net and they were suppose to take the interest of $125.00 out of my checking account on the third (if I had not asked to take out more) they took it out on 12/26 and now I had 13 small checks bounce at 36.00 each, when I called the company a man named Cleveland spoke to me and said "so, its already posted there is nothing we can do" I think this company should have to pay the bounced check fees as I would not have had them if they had not. I wrote my 8 grandkids each 10.00 checks for Christmas it is awful to know they are bouncing. Is there any legal action I can take, when I called at first I spoke to a Michelle and she said she would have Cleveland call me, when I called back I asked him if he was going to call me thats when he said no, I started to tell him what happened he said so... then when he finished he hung up.


mattmosmom -

These companies don't care if you wrote a check to your grandchildren or to your utilities or anyone else. They have a habit of debiting for the wrong amount at the wrong time - and then say there's nothing they can do about it.

I would recommend sitting down with your bank manager and explaining the situation to them, to see if they will help. And once you get it straightened out, close your account and re-open a new one. That will stop them from debiting your account further. Pay them off with a money order for the balance of your loan principal plus the interest allowed by your state and be done with them.


lrhall41

Submitted by SUEBEEHONEY70 on Thu, 12/28/2006 - 08:03

( Posts: 4583 | Credits: )


That is too bad that they pulled this on you. Do you have anything that says they were going to withdraw the funds on 1/3? Maybe you could try again and definitely NOT speak to either of those people---DEMAND some type of answer. I don't know if you have any legal recourse or not. I am sure someone will post another answer or comment that does know. Good luck!


lrhall41

Submitted by Lorri on Thu, 12/28/2006 - 08:06

( Posts: 1721 | Credits: )


I did recall them they said that a supervisor named Nicole will call me back and yes it is written across the top that I am on SSD and to take all monies out on the 3rd. I am going to go to my bank and once again thanks for the great advice.

Paula


lrhall41

Submitted by mattmosmom on Thu, 12/28/2006 - 08:14

( Posts: 8 | Credits: )


Paula, Go to your bank and try to dispute the charges. Show them the paperwork that they were not supposed to withdraw. Most important go to paydayloaninfodotorg and look up your state laws on payday lending. I would get that account closed as soon as possible. These loan companies will bleed you dry. They dont care about anyone. Keep us posted. KYSIDE38


lrhall41

Submitted by KYSIDE38 on Thu, 12/28/2006 - 08:19

( Posts: 2477 | Credits: )