Payday Lender & Letter of Indemnity - $750 taken w/o authorization

[Doublecredit]

What is the name of your state (only U.S. law)? NH
Here are the facts: I took out 2 payday loans with a company called DS Lending. One loan was $350, then second was $400. They then attempted to collected additional fees and a higher interest rate than originally agreed to, so I blocked them from collecting from my account. Yesterday they provided my bank a Letter of Indemnity and claimed that the $350 and $400 were deposited to my account in error. My bank then gave them a total of $750 back, even though that is a false claim on DS Lendings part. I have attempted to contact DS Lending by phone and email, however they have not responded to me. My bank says there is nothing they can do (which I doubt). There has to be something I can provide to my bank for them to reverse the charges.

I have already escalated this to the NH Bank Commission and will contact my Attorny Generals Office, Trade Commission, and BBB as well. DS Lending is not licensed to provide loans in NH and I did not agree for the $750 to be taken out yesterday. I NEED that $750 in my account!

What options do I have? Please help!

 

[TheGeekess]

What is the name of your state (only U.S. law)? NH
Here are the facts: I took out 2 payday loans with a company called DS Lending. One loan was $350, then second was $400. They then attempted to collected additional fees and a higher interest rate than originally agreed to, so I blocked them from collecting from my account. Yesterday they provided my bank a Letter of Indemnity and claimed that the $350 and $400 were deposited to my account in error. My bank then gave them a total of $750 back, even though that is a false claim on DS Lendings part. I have attempted to contact DS Lending by phone and email, however they have not responded to me. My bank says there is nothing they can do (which I doubt). There has to be something I can provide to my bank for them to reverse the charges.

I have already escalated this to the NH Bank Commission and will contact my Attorny Generals Office, Trade Commission, and BBB as well. DS Lending is not licensed to provide loans in NH and I did not agree for the $750 to be taken out yesterday. I NEED that $750 in my account!

What options do I have? Please help!

They loaned you their money and then took their money back.

 

[Antigone*]

What is the name of your state (only U.S. law)? NH
Here are the facts: I took out 2 payday loans with a company called DS Lending. One loan was $350, then second was $400. They then attempted to collected additional fees and a higher interest rate than originally agreed to, so I blocked them from collecting from my account. Yesterday they provided my bank a Letter of Indemnity and claimed that the $350 and $400 were deposited to my account in error. My bank then gave them a total of $750 back, even though that is a false claim on DS Lendings part. I have attempted to contact DS Lending by phone and email, however they have not responded to me. My bank says there is nothing they can do (which I doubt). There has to be something I can provide to my bank for them to reverse the charges.

I have already escalated this to the NH Bank Commission and will contact my Attorny Generals Office, Trade Commission, and BBB as well. DS Lending is not licensed to provide loans in NH and I did not agree for the $750 to be taken out yesterday. I NEED that $750 in my account!

What options do I have? Please help!

So what are you going to say, "Hey I borrowed this money and I refused to pay it back, so they took it!"

 

[Doublecredit]

Follow-up

OK, so I guess I should expect comments like, "you borrowed the money" etc. etc.
What I am saying is that I was working with them, paying them back, and then they provided my bank with a Letter of Indemnity claiming the funds were "not borrowed" but "'errors", thereby taking back money, plus fees, interest, etc. that I was working with them on... there is a difference of me not paying them... I didn't say I didn't pay them, I was working with them.

The question is, if I did not authorize this, what can I do to fight a false Letter of Indemnity???

 

[Ohiogal]

What is the name of your state (only U.S. law)? NH
Here are the facts: I took out 2 payday loans with a company called DS Lending. One loan was $350, then second was $400. They then attempted to collected additional fees and a higher interest rate than originally agreed to, so I blocked them from collecting from my account. Yesterday they provided my bank a Letter of Indemnity and claimed that the $350 and $400 were deposited to my account in error. My bank then gave them a total of $750 back, even though that is a false claim on DS Lendings part. I have attempted to contact DS Lending by phone and email, however they have not responded to me. My bank says there is nothing they can do (which I doubt). There has to be something I can provide to my bank for them to reverse the charges.

I have already escalated this to the NH Bank Commission and will contact my Attorny Generals Office, Trade Commission, and BBB as well. DS Lending is not licensed to provide loans in NH and I did not agree for the $750 to be taken out yesterday. I NEED that $750 in my account!

What options do I have? Please help!

Google unclean hands doctrine.

You tried to steal $750 from this company by taking two loans from them and NOT paying them back. They got their money. You may not have agreed for them to take the $750 yesterday but when you got the payday loan, you agreed to them getting the money plus interest.

 

[Doublecredit]

Again...

When you borrow money, how are you getting that I was trying to steal the $750??
I was paying them back and then they opted to take all of it at once, which was not the agreed to terms... seriously, are you reading what I'm writing or what you THINK I'm saying?

If you don't have any solutions, as you clearly don't, no need to reply... just trying to figure our how to trump a letter of indemnity that was falsely submiitted from a lender that isn't even registered in the State of NH!

 

[Zigner]

When you borrow money, how are you getting that I was trying to steal the $750??
I was paying them back and then they opted to take all of it at once, which was not the agreed to terms... seriously, are you reading what I'm writing or what you THINK I'm saying?

If you don't have any solutions, as you clearly don't, no need to reply... just trying to figure our how to trump a letter of indemnity that was falsely submiitted from a lender that isn't even registered in the State of NH!

You're not getting that money back. Congrats on paying off your debts.

 

[Antigone*]

When you borrow money, how are you getting that I was trying to steal the $750??
I was paying them back and then they opted to take all of it at once, which was not the agreed to terms... seriously, are you reading what I'm writing or what you THINK I'm saying?

If you don't have any solutions, as you clearly don't, no need to reply... just trying to figure our how to trump a letter of indemnity that was falsely submiitted from a lender that isn't even registered in the State of NH!

You didn't think about them not being registered in the State of NH when you took their money, right

 

[Zigner]

You didn't think about them not being registered in the State of NH when you took their money, right:

The problem that I think the OP was missing was that, if the company is not actually allowed to lend in NH, then they were absolutely correct in getting the money back from the bank that they sent in error.

 

[OHRoadwarrior]

Bottom line.... You made a contract, took the money then said "Hey, I did not agree to these contracts!!!" I refuse to pay for them. They said "Oke dokey, our mistake then, we will take our money back" and did. Now you are complaining about that. I suggest you grow a money tree in your back yard. It will provide lending terms you find acceptable.

 

[LdiJ]

OK, so I guess I should expect comments like, "you borrowed the money" etc. etc.
What I am saying is that I was working with them, paying them back, and then they provided my bank with a Letter of Indemnity claiming the funds were "not borrowed" but "'errors", thereby taking back money, plus fees, interest, etc. that I was working with them on... there is a difference of me not paying them... I didn't say I didn't pay them, I was working with them.

The question is, if I did not authorize this, what can I do to fight a false Letter of Indemnity???

Ok...lets try this again. You took out a payday loan. You gave them authorization to take the money back, out of your bank account, when you got paid.

You had a disagreement with them and got clever and stopped them from taking the money out of your account. You then tried to negotiate an alternative payment plan. They got cleverer than you and figured out a way to get the money out of your account.

You are not going to get it back.