On May 12 we were a little short on our rent and I started doing some investigation on payday loans. I had never done one before so I CAREFULLY read all terms and conditions. I contracted to borrow 350 from them plus a fee of 87.50 totaling 437.50. As luck would have it, my paycheck was not enough to cover the full amount so I called the company and asked what to do. They told me I had to wait 2 business days before the loan was due and apply for an extension, never disclosing to me that it would cost an additional 87.50.
I went online as instructed, logged in and applied for an extension, never did the amount on the "electronic check" change and never did it say they were going to debit my account 87.50. They waited until the day they were taking it out to send me an e-mail. I called the company and explained the situation again and told them that there was not going to be money to cover that in my account, without hesitation I was IMMEDIATELY transfered to the collections department. I explained to them that I was not trying to get out of paying the loan, I then asked if I could send them a money order for the full balance rather than having them debit my account again costing me even more fees. They told me the state I live in does not allow that.
Then, I get another e-mail from them confirmation of loan extension when I didn't even ask for another one again, they took it upon themselves to debit another 87.50 plus 56.25 twice on the SAME DAY!!! Again I called the company the told me I should have read the terms of service better blah, blah, blah. After seeing all those charges, I started to see other charges from companies based out of Nevada where Cashnet USA is supposedly located. They shared my information with other companies who in turn gladly signed me up for "ID theft" services, voicemail services, and credit line services. I had NO IDEA what to do, how to stop it so I called my bank and explained everything in detail they closed my old account and it is now under fraud investigation.
Again, trying to resolve the loan with them, I called the company told them the situation and again without hesitation I was very rudely transfered to the collections department. I must have explained my story 15 times! All I wanted to do was send them the money in full, no I was told ACH/EFT is the only way the state I live in allows repayment (BS).
Here's the funniest part after them getting a total of 287.50 from me I get an e-mail from them that now I owe them 550 dollars and various ways I can now pay in full. Funny how terms and conditions change almost overnight! So far, my bank has slowly started to refund all monies and overdraft fees as a result of this scam, but it's like the mental equivalent of someone breaking into your home and going through your underwear drawer! They state they are allowed to share your information with 3rd party companies who may offer services you may be interested in!
This place is fradulent and they will not receive a dime over 437.50 from me. I have reported them to the attorney general and suprise suprise! This isn't the first claim they have against them. I thank God my bank has such a wonderful fraud department, but this haunts me because I have out of pocket expenses from checks that bounced as a result of them taking money that they were not authorized to take, again my bank will re-imburse what funds they can but only time will tell how much I've actually lost as a result of this company.
Lesson to be learned... Stay far, far away from this company.
I don't understand how the people they employ can sleep at night knowing they work for scam artists!
Next time I need to borrow money I'll go to my parents instead.
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