I received a loan from MED CHOICE CORP through Clark Behaivoral Health Financing for my daughter who needed to be placed into a treatment center for mental health issues.
I used Clark Behavioral Health to locate the loan for me because I was told by my bank (which is a reputable bank) that these types of loans are considered high-risk and are difficult to obtain because they deal with behavioral health.
I completed all loan documents through Clark Behavioral Health and MedChoice Credit Corp / AKA Med Choice Financial agreed to loan me the amount of $35,000 at an interest rate of 12.99%. I agreed and signed a Retail Installment Agreement on May 31 with the inital deduction of $1,800 to be deducted directly from my checking account and then a monthly payment to be deducted in the amount of $775.00. I was specifically told by Lisa of Clark Behavioral Health that the loan would close within 1 week of me signing and forwarding the original documentation.
I checked my account on June 5th and they MedChoice Credit had deducted the $1,800.00 and a few days later I received a statement showing the balance due and the deduction. I assumed the treatment facility that was supposed to get the money had received it because I didnt hear anything, but of course I didnt specifically check (my fault).
July 1st I received a bill from the facility showing that nothing had been paid. I immediately contacted Clark Behavioral Health and Med Choice Credit. They said the facility had failed to return the correct paperwork but that everyone was working on it and that it would fund on July 6th. Needless to say MedChoice had already deducted one more payment from my account.
July 6th I spoke with the institution and was told that they might haven not sent the correct paperwork but they were going to resend everything just in case and to not worry if I didnt hear back from them then the loan funded and everything was ok.
Needless to say we went back and forth. August 1st the loan still did not fund but MedChoice took another payment.
After numerous conversations in trying to find out when the loan was going to fund (if at all), why they were taking money for a loan that did not fund, etc. I sought legal advice.
1.) MedChoice Credit Corp and MedChoice Financial do not have lending sources to fund their loans.
This is a fraudulent practice wherein they deduct monies from peoples bank accounts until it is noticed and then the amount that is deducted is small enough that it doesnt warrent hiring an attorney to go after an out-of-state or foreign corporation because its going to cost more money to sue than you have lost.
$2,000 here, $5,000 there.
What a rip-off. Anyone associated with this company should immediately review what is going on. They are liars and schemers and William Doniger should be put in jail. Should this had happened to someone who was not financially stable it could have put them under. $5,000.00. Should have threw it in the trash instead of put it in his pocket. What a crook. Its a crime that companies like this are allowed to operate.
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