fraud
Complaint
amanda
Country: United States
My wallet was stolen several months ago and I have a fraud alert on my ssn and these ppl are taking money from my account n telling me that I took out a loan n refuse to stop. Knowing now they r frauds, what us the next step for legal actions? I refuse to pay for fraud especially since they out right called me a liar and talked junk
Comments
Immediately contact your bank to dispute the charges as fraudulent, and close the account or block the card number to prevent further fraud. Your bank can reverse charges if you dispute promptly, under FRB Reg. E.
File a police complaint on the wallet theft and id theft through the fraudulent "loan".
Get a copy of the police report, as it can be used to challenge negative credit reporting connected to id theft, as well as documenting the fraud if you have to sue a harassing debt collector.
"pdlnow.com" shows up with complaints of fraudulent "loan" cramming,
http://www.debtconsolidationcare.com/getting-loan/pdlnow.html
They may either be a lead generation site, selling information to various "payday lenders" including some involved in fraudulent "loan" cramming, or they may be cramming themselves.
Fraudulent loan cramming is the practice of obtaining consumer information as part of some online loan application, then using that to cram through a charge without disclosure of terms or agreement by the consumer to those terms. It is typically followed by repeated charges that quickly recover all the deposited amount then continue to drain the account through what are claimed to be "interest only" payments that never pay off the loan. A couple hundred dollar crammed "loan" can quickly turn into thousands of fraudulent charges within several months, with APRs in the $00% to 900% range.
The "lenders" are typically operating from overseas, possibly the Caribean or Medeteranean island jurisdictions, and are typically not licensed under state laws, and so not legally authorized to lend in the US. Loan cramming violates federal TILA regulations, and amounts to wire and bank fraud. The only way to stop it is to have your bank block the account and dispute the charges beyond the unauthorized deposit as fraudulent.