November I had some unexpected medical bills come due and needed a fast loan. I applied to Instant Cash Flow and was approved for a $400 loan. Payments were set up bi-weekly through ACH direct withdrawal from my bank account.
I lost my job due to business failure the first part of December. I notified them not to try to withdraw my payment due 12/24/04 as the funds would not be available. They did anyway along with other payday loans I had outstanding. This caused excessive overdrafts on my checking account to the tune of $1000. The bank closed my account because of the overdrafts.
Again I contacted Chad Garner at Instant Cash Flow and again explained my situation and asked that they not try to debit my checking account as it had been closed. He agreed and agreed to work with me on the account. I received an email from Mr. Garner 1/27/05 that if total payment was not made by 6pm on 2/7/05 a warrant would be issued for my arrest. I managed to scrape together $300 which was the balance owed on my loan and wired it to him with the notation the loan was paid in full. He accepted the payment. Now I am getting collection notices that I owe Instant Cash Flow another $252 that I do not owe. The collection agency has ignored my written dispute to this debt and is proceeding with further action.
This place is one of the biggest ripoffs i have ever seen. Don't do business with them ever!!! They will tell you one thing then do another and believe me it won't be in your favor! If you borrow money from them you will never get them paid back as they keep manufacturing more charges to your account!!!
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