I inquired about a fast cash loan from a company named CashNMinutes. They don't have a general inquiry page so I filled out the application figuring if I was approved, someone would call me to confirm identity, bank account, employment, and that I still wanted the loan. No one did. The e-mailed contract went straight to my spam folder.
I called by bank and asked what the charges would be for an overdraft on my account, they said there is no overdraft and my account is in good standing. They then let me know that $150 was deposited into my account by CashNMinutes. I asked if there was anyway to send the money back, and they said I would have to get in touch with the company.
After a few failed attempts (I was typing in CashinMinutes.com instead of CashNMinutes), I finally got in touch with them and since the full 150 was no longer in my account (due to $15 being used by my bank to take acct out of overdraft) I figured I would keep the loan and requested a copy of the loan document be sent to me.
The loan was $150 $50 Processing fee and if I decided to extend the loan pass my next paydate it would be a $66 debit to my account each time. My first payment was due on 9/1/06, and I sent them an e-mail on 8/30/06 that my account would be closed and to process a debit. E-mail me the western union information and I would pay the loan in full.
They acknowledged my acct. Was closed and said they would rather I did it using my account and to send them the new account info by tuesday 9/5/06. I wasn't able to access my aol account from work so I used my hotmail acct. And e-mailed them the info, they are alledging that they didnt receive it.
They tried to debit the closed acct. On 9/1/06 and again on 9/7/06 - KNOWING THE ACCT. Was closed. On 9/15/06, I get a call from 2 of the rudest representatives I have ever had the displeasure of dealing. They were from National Processing and said that legal actions were being taken against me and that if I didn't pay 447 by 11:45am via western union or moneygram, I would be arrested and charged with Wire Fraud and Writing Bad Checks.
I let them know I can't be charged with these things because they debited the acct. Knowing the account was closed, I wrote no checks whatsoever to the company and notified them not to try and withdraw funds. She told me I was going to be arrested and my only option was to pay. I told her I would prefer to deal with CashNMinutes and after 6 phone calls at my place of employment, the rep finally gave me their phone number, which rang 6 times and went through to a voice mail.
I looked the number up on the BBB and according to them the company is out of business. They dropped the I in their name changing it from CashInMinutes to CashNMinutes and that is how they have been operating. I have been in constant contact with them and told them that I will make payment, but not at western union or money gram as I do not want to incur additional charges and they keep giving me the run around.
I am actually trying to make payment and they aren't letting me. I had to locate their address from the BBB and had to question National Processing each call before I could even get a phone number for CashNMinutes and I still have yet to speak to a live representative from the company.
Their plan is to keep giving me the run around as to add more and more late fees to the principal amount of the loan. I will be contacting the DA's office today in regards to both companies. Feel free to contact me if you have had an experience with them as well.
Shalise
Brooklyn, New York
U.S.A.
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