500 Fast Cash, or 500 FC is nothing more than a scam factory. They are a pay day loan outfit that is 100% crooked. A common theme seems to be to get your bank account information and then keep charging until they either empty it or you close it. Check out complaints about them; it is quite common for them to charge 200-300% beyond the principal loan after it was supposedly paid off.
We had the misfortune of dealing with these snakes. We purchased a prepaid cell phone and apparently that same number had recently been used for a land line by someone who had foolishly taken out a loan from 500 FC. This woman cancelled her phone service and disappeared, but her number was then used for our new cell phone. For two months we have been hounded by these jerks who cant seem to understand that were not going to pay for someone elses loan. Theyve assumed that we are actually harboring a deadbeat and they seem determined to badger us until we turn over this other woman. Even if I did know her - which I dont - I would tell her to close her bank account and never deal with any pay day lender again.
I contacted the Oklahoma Department of Consumer Credit and I found out that 500 Fast Cash are unlicensed and operating out of Miami, Oklahoma on tribal land. They claim sovereign nation status and maintain they are exempt from Oklahoma courts and laws. A representative from ODCC told me, We recommend to those that have actually taken out loans with them to close their checking account and quit paying them and call the loan null and void. The bottom feeders running the 500 Fast Cash scheme are using the sovereign nation status to cloak their thievery in a legal limbo of immunity.
It seems to me that 500 Fast Cashs sovereign nation status could also be their own undoing. What if - and I am just speculating - someone took out a loan from 500 Fast Cash and gave them a fictitious phone number. And what if as soon as they got the money in their account, they closed it. What could 500 FC do? They couldnt take them to court, because if they decide to go to court over a single case, the flood gates would open. I believe that the State of Oklahoma would be first in line to pick their collective carcass. Now, I am not advocating such a strategy - that would be wrong. However, if someone did manage to swindle these crooks, I would shed no tears and I would sure love to hear about it.
Alternatively, you could just flood them with complaint calls, legitimate or not. Complain about the weather, sports, or better yet, ask them their address. They claim to not have a physical address. That should be a giant red flag. Press them on that point, they hate it. Waste their time on the phone. Every minute that they spend dealing with someone on such a call is another minute that they are not swindling or hassling someone else. The number that I called was 1-800-420-3194 and their fax is 1-800-370-1475, but they have others. They appear to be a pretty small outfit that would find it hard to cope with an onslaught of calls or faxes.
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