Payday loan Scam!
Complaint
James
Country: United States
Okay, me and my wife needed money fast to pay some stuff off but not a lot of money and we would pay it back in two days anyway. They approved my wife for $600.00 and then a $90.00 fee for the loan so total $690.00 to loan $600.00 so whatever we needed it. (Note: Money was in are account the next day.) So Money Mutual pulled $90.00 from are Account which was the Fee only. So me and my wife said why did they not pull the $690.00? So she called and got a voice mail to leave a message and they will call back ASAP. So they called back the next day and my wife asked them how come you did not pull the full amount? They said you need to call them to do that or they will keep pulling the fee only. My wife said okay and then she lose the women on the phone. This is where the scam comes in. In short, you call them it will be a voice mail they will get back to you then they contact at dumb time in the day like 11:30am when you are at work and days later. They do this so you can't call to say you want to pay it off and they keep charging you the fee of $180.00 a week like you don't have the money to pay back! We now paid $1,400.00 of a $600.00 loan because they don't pick up the phone and call back in reasonable amount of time! So we then when to the bank and put a stop on them from pulling anymore. They add new changes to. now it is $30.00 then $180.00. I don't even know what the $30.00 is for. But now they call me two days after I did that. Funny the money stop's and they call? So the scam is you can't contact them so they just charge you to the poor house in fee's! I am going to BBB then lawyer!
Comments
ALWAYS, ALWAYS...do your research first!!! For example, Fred Thompson advertises and extols the so-called "benefits" of homeowners 62 & older getting a reverse mortgage. Yet, if you research reverse mortgages, you will be hard-pressed to find ANY, REPUTABLE, WELL-RESPECTED financial expert who will readily endorse or recommend utilizing a reverse mortgage...except in only a very few, limited, extenuating, circumstances!
I've seen suggestions from other posters that people start bombarding Montel Williams, Fred Thompson, and other "celebrities" with letters and emails expressing their outright disdain and disgust with their advertising activities. I would further suggest that victims also begin flooding the various TV networks which have the audacity to continue airing such commercials, with mail, emails, and phone calls and let THEM know just how deplorable their actions are, and that THEY themselves are contributing to the problem...which is claiming more and more victims every day! The networks only care about one thing...their profit margins!
Forget about the FTC. The only time the government will get off their backsides and actually DO something is when they themselves become victims, or there is such a public outrage in the news media, that they HAVE to take action and scramble to do public relations damage control!
No product or service bearing his likeness or any implied affiliation will I seek or receive.