I did something today that I have never done before. I went online to obtain a short term loan in order to pay a small bill that had to be paid immediately. The next day I did recieve the loan and right away I withdrew the funds from my account. The next day however, I checked my account and to my surprise my account was overdrawn by $159.95. Upon contacting my banking institute I was informed that a company called EDP Reporting had attempted to collect funds from my account. I tried several times to contact EDP by telephone without any success. I would have never agreed to have funds taken from my account, when I knew it wasn't there.
Apparently, they got the information from the link for the short term loan company that I had applied with and the plan was probally to collect the funds from the account once they had been sent to my account. However I got the funds, before they did. This company is a rip off in every sense of the word. I do not understand how they are able to get away with this. Is this not a felony? I will notify the Federal Trade Commission and file a complaint with them as well. If there are any class action suits out there regarding this organization, I would be very interested in knowing what steps I need to take and who I would contact. This has never happen before and by the Grace of God, it will never happen again.
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