loan company not abiding

[breezymom]

What is the name of your state (only U.S. law)? Ny

Not abiding by signed, dated, faxed contract.

I had to fax a document, signed three days before the loan due date, at latest, or the loan would be renewed with the renewal fee.


Loan due date is today.

Fax sent 8/29.

I have the successful transmit paper to prove it with the correct fax number.

They renewed the loan instead of taking the full amount that I agreed to pay today.

I called, was on hold for 10 minutes and it then made me just leave a message.

They will now be charging me an extra renewal fee instead of the original fee and total amount I am sure.

How do I handle it so that they do not charge me more than I agreed to pay?

 

[swalsh411]

What sort of loan is this?

Were you planning on pay the loan off?

 

[breezymom]

What sort of loan is this?

Were you planning on pay the loan off?

It is one of those stupid payday loans and yes, I signed a contract stating it was to be paid off today.

 

[swalsh411]

It is one of those stupid payday loans and yes, I signed a contract stating it was to be paid off today.

So when you paid it off today and asked them to remove the renewel fee what did they say?

 

[breezymom]

So when you paid it off today and asked them to remove the renewel fee what did they say?

That's just it. Now that I'm on my computer instead of my phone, I can type better so let me explain better:

The conditions I signed for were as follows:

On 9/6/12, I am to pay the amount of the loan, plus the $60 fee.

I had to fax this signed document at least 3 days in advance.

I faxed it on 8/29/12, MORE than three days in advance.

I have the fax receipt, stating it was a successful fax with the correct fax number on it.

Today, 9/6/12, they ONLY debited the $60 fee, plus I called on my account, and the status is renewed.





I signed a document stating I agreed to the conditions set forth to pay the loan OFF today, NOT renew it.

The company broke the contract and RENEWED the loan.

They just set my budget back at LEAST $60, and if they do this again in two weeks, much more.


I want them to debit the loan amount ONLY, now, since I did NOT agree to renew it and have the proof of such.

 

[breezymom]

And I got an automated hold when I phoned, for 10 minutes, then it just transferred me to a voicemail, where I left a detailed message and my contact information. I have not received a call back.

I DO have a right to ask what I am asking, since I did NOT agree to the conditions they are imposing on me, correct?


And what do I then do if the continue to not comply?

 

[swalsh411]

You need to make the payment you agreed to make today otherwise you have effectively renewed the debt. You can deduct the renewel fee they charged you and see if they will waive it, but if you don't make the payment today you are in no position to argue they renewed the loan against your wishes.

 

[breezymom]

You need to make the payment you agreed to make today otherwise you have effectively renewed the debt. You can deduct the renewel fee they charged you and see if they will waive it, but if you don't make the payment today you are in no position to argue they renewed the loan against your wishes.

I have no way to make the payment today. They automatically debit the payment. I tried to reach them by phone and they are not responding.

I signed a contract that they were to debit the entire amount today, not renew it.


It's their mess up.

I followed their rules.

I will not take out any loans with them again.

 

[swalsh411]

There is no way for you to make the payment online, in person, or try them on the phone again?

 

[breezymom]

There is no way for you to make the payment online, in person, or try them on the phone again?

No way in person.

No way online.

I am phoning them every hour and getting the same deal. Hold 10 minutes. Voicemail.

 

[breezymom]

In fact I am currently on the phone on hold, and have been, this time, so far, for 5 minutes.

 

[breezymom]

I suppose I will just have to eat this, chalk it up, and report it to their local BBB, which I should have checked in the first place. My mistake.

I just don't understand how it is legal to break a binding, signed contract is all, returned to them all on their terms.

 

[OHRoadwarrior]

It could always be worse. We had one OP who took out a loan from a certain Native American loan company. Never use these places. Its kinda like shooting yourself in the foot. My sister has an agreement whereby I loan her money all year and she repays from her EIC. If you have family that can afford to work with you, try and develop a repore.

 

[bdancer]

I suppose I will just have to eat this, chalk it up, and report it to their local BBB, which I should have checked in the first place. My mistake.

I just don't understand how it is legal to break a binding, signed contract is all, returned to them all on their terms.

Reporting them to the BBB is pretty much a waste of time. The BBB is a private organization that has no authority over any one including their own members.

Payday loans are never a good idea. Besides the 600%+ interest rate, the insist on direct access to your bank account. Payment problems are the norm. Usuallly with them continuing to pull money from your account long after you have paid them in full .... sometimes waiting a year before starting to pull money out of your account again.

The problem with faxed documents is your fax receipt just shows that you send it. It does not prove that it was received. It's rather common for faxes to not be received or get lost in the stack of other faxed paperwork. When you finally get a person on the phone, they will likely claim they never got your fax.