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500fastcash payday loan

Date: Mon, 01/19/2009 - 17:05
Submitted by on Mon, 01/19/2009 - 17:05
Posts: 202330
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My son applied on-line for a $300 payday advance in October. He filled out the application on-line. To conclude this transaction, 500fastcash waso send the loan details to hisail, and he was to confirm after logging in with a username and password they provided. To this date he has never received any emails from 500fastcash, including one with a username or password. As a result, he has never confirmed the loan details and assumed he had been denied for the loan. However, 500fastcash did electronically deposit $300 into my checking account on October 20.

Since that time you have debited my checking account the following amounts over $600.

500fastcash has not responded to his emails requesting account information, nor returned phone calls. How do we stop this nightmare? My son lives in California.


My son's bank is closing his account and trying to recover the most recent debits. Thank goodness we do business with a local bank where we know everyone!

500fastcash has responded (we threatened litigation), informing him he authorized to renew his account each payday and that he still owes $240 in principal. The original amount on Oct. 20 was $300, he has paid $625. What amount are they actually entitled to?

I have tried to call our State Attorney General's office, but between the holiday yesterday, and inauguration day today, they are apparently closed!

I have formulated a C&D letter for my son to send to 500fastcash, but want to make sure that I am absolutely correct in that they are not legal in California and not entitled to anything more than the original loan amount of $300.

Thanks for any help.


Submitted by on Tue, 01/20/2009 - 10:43

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I just wanted to let everyone know that our bank has been amazing! In a matter of just an hour they have closed my son's account, transferred any pending legitimate transactions to a new account, AND rescinded the most recent debit transactions from 500fastcash which were 4 transactions between the dates of 1/2 and 1/16 totalling $265. So 500fastcash will get the principal and $60.

Our local independent bank was INCREDIBLE! When he showed the bank manager the e-mail he received from 500fastcash this morning advising him that they had only debited $60 from his account and that he owed them $240, she got on the phone with her boss to discuss fraud charges! Of course, she had right in front of her all 8 transactions totalling $625!

I think we'll wait a couple of days and then send off the C&D letter to 500fastcash.


Submitted by on Tue, 01/20/2009 - 11:57

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