THIS IS A SCAM
Complaint
Sarah
Country: United States
If you have ever applied for a payday loan online and got a deposit from SGQ LTD you have just become a victim. I made the mistake of applying online for a payday loan. The company I applied with deposited my $300 in my checking account the next day as promised. HOWEVER I also had a deposit from SGQ. I only applied at one place so I was confused. BUT I made the mistake of not checking further into it as I was leaving for vacation the next day and would deal with it when I got back. SO...my next payday comes around and I made arrangements to payoff my payday loan I originally applied with (by contacting the company, getting a live person and after conversation got an email confirmation). However SGQ deducted $90 out of my account. I tried the number(s) (lots of phone numbers after numerous internet searches are listed for them...currently I believe they have 866-828-6351 listed but BEWARE...all you will get is an answering machine asking you to leave your name and social security number...DON'T). I contacted the BBB and my states Attorney General. They are a SCAM. You .can never reach them and unfortunately if they are taking money out of your account that means you can only do one thing. Go to your bank...explain what happened and close your account. My bank worked with me to open a new one. NOW...once you do this they will try and extract money from the closed account...it won't work. Sooner or later you will get a call from someone saying they are an attorney/law office/debt collector/etc asking you to pay back WAY more than you originally borrowed. They will try to scare you and say they need the money by the next day, you need to wire it, if you don't they will come and arrest you at work (depending on what info you provided them they might call you at work and say these things...just beware). First of all...not paying at debt back IS NOT a criminal offense where the local PD can just come arrest you. They are scaring you. Tell them to mail you the info IN WRITING to your house...DO NOT GIVE THEM YOUR ADDRESS...if they don't have your info then RED FLAG. Just say...mail it to my address and I will take it from there. GUARANTEE you will never hear from them again. Hope this helps.
Comments
Then they rapidly take back their money, often in a few weeks, before the victims realize they are being scammed, but since they claim it's all "interest", they keep taking, and taking, and taking, until you shut down the account.
At that point, they will start threatening you, claiming you committed some :"crime", or they will sell this "debt" off to some sleazy "debt collector" who will continue the shakedown as long as they can.
It's basically a "loan" fabrication scam, to create the pretext for bank theft, combined with a shakedown racket.
Not likely they are licensed to lend in your state, either, in which case every dollar they take beyond their original principal is illegal. They usually hide in overseas legal jurisdictions, often the Caribbean, or maybe Cyprus or Malta, occasionally in "tribal sovereign land".
Violates TILA, federal wire fraud statutes, and state lender licensing laws.
Notify your bank immediately to shut down your account to prevent fraud and theft, and contact your state Attorney General for assistance.
Your bank should also file an SAR on them, to report use of the banking system for fraud and theft.
By the time the victim realizes what's been going on and shuts down the account, they already have their original money back, and probably several times that. After shutting down the account, the victims then start getting harassing, threatening calls to collect this allegedly "delinquent loan", often threatening "prosecution for bank fraud".
It's all fraudulent.
You would be wise to have your bank close this account to prevent possible theft or getting stuck with NSF fees.
Did you ever apply online for a loan, even if you never got one?
Any recent inquiries on your credit reports?
CVSSD
of 2011. They had a lot of my info. I have never heard of these people. I ask for proof that they
deposited $400 dollars in my account. They sent me a promise to pay letter. This has scam written all over it!
Where I make in inquiry on the internet, hits come back with "potential" under writers. The information provided actually goes to a recruiting site, that has offshore loan offices located outside the US. These companies are not allowed to practice within the United States, however do so through the recruiting site. So once you submit the information to find out if your pre-qualify, it becomes a cancer in your email box, with lots of responses from other loan companies. (Do not call the recruiting site, as this is all they will tell you "We do not provide loans, we are simply a recruiting site")
Here is the scary part- some of these companies go ahead and process your unauthorized/unsigned loans without your consent.
Once it hits the bank your agreement for repayment begins. Through my direct experience- I have contacted the bank to reverse it, as I did not authorize the deposit.
The bank cannot seem to get in contact with the merchant, or through the company phone number listed in the deposit line of the bank statement.
So- Federal Credit Unions, after their attempt to contact the loan company ends with failure, makes the decision to change my micro-number.
Now, the loan company is trying very hard to withdraw their payment, but cannot do so.
The bank still cannot contact the loan company, therefore advises that their money now belongs to me.
Now it seems this SGQ LTD is trying to collect on dead accounts, furthermore do not comply with the state statute of limitations for collections. Lastly, reactivate accounts without your consent. Consent as in making contact with you, verifying who you are, and having you admit this is your debt.
NEVER answer the phone to numbers you do not recognize- Once you answer it, they will act like idiots- presume you are the account holder they are looking for, use this as causation to reactivate your account, and harass you until you change you number again.
Once you say "Hello, who is this?", it is a feeding frenzy for this group.
I gave them 50dollars yesterday. As I Google it today I know I had been scammed. So I called the bank and they are issuing a new debit card. I guess I will not get the 50 dollars back.. On top of this we just went through a complete house fire lost everything. And I get scammed out of money I didn't have. Should I do something else with the bank? I just gave the scammers only my debit card.