I am asking for my father. He is 80 on ss and recently applied for a payday loan. Which resulted in about 4 loans and one which the documents he signed and everything on there website states that for $350 he would repay interest of $105.
They sent a email to him that said he was approved for the loan and did he accept the terms he typed back yes .
When reviewing I noticed the terms on the email are different than the terms on the loan. Here is a copy of the last email I correspondence with them. Now they just want to talk to him on the phone and I have told him NO.
Here is the email I sent for him and what they sent back
I am Bill [redacted] last 4 of social [XXXX]. I thought it was a typo at first but never thought I would feel discriminated against because of my age?
Or do you do everyone like this hoping they don’t notice?
Why are the papers that I signed and the terms of my loan different than what you are wanting to take out of my account? Why would you take a $175.00 when everything I signed and everything on your website states that for $350.00 the pmt is $105.00. The email I received said $175.00 and online my account says $175.00. I am looking at my agreement and it clearly states $105.00.
No typo you did this on purpose. At this time I am revoking any and all authorizations that you have to effect ACH debit entries, I am revoking your right to do POS transactions, and I am revoking your right to prepare and submit any checks drawn on my account.
Then you send me the email at 11pm at night telling me I got till Sunday to make changes if needed. Knowing the changes I need are not a option to begin with and you are closed till Monday ??? I may be old and cant hear good but I can see real good and I am real hurt and not stupid either.I don’t know what makes people think that at 81 years old I havent learned anything in life.
On this day I xxx xxxxxx last 4 of ss# **** am exercising my right to revoke any and all rights you,your company, and any associates have to add or retrieve money from my account, in any form or fashion including revoking POS, revoking ACH debits,revoking you and your right to prepare and submit checks drawn on or from my account. I have now officially revoked your right to my account all together. I understand the bank also needs a copy of this request.
The contract said 3 business days but your email said by Sunday. I am sure you have plenty of time to correct this. Now I hold NO trust with your company but would prefer email correspondence so I can keep up.
I will be more than happy to arrange the payment of what I owe using another method. But this is my written revocation which shall go in effect immediately. I have every intention of paying what I owe please email me with how and what I need to do?
Remember you to will be old one day. Would you want someone to discrimanate your family or you as you have done me just because you thought since I was old and on a fixed income, I was stupid? Just to try and make the company you work for extra money or do they split it with you?
I am so disappointed.
I have tried since Friday night to reach someone.The email said by Sunday.
Well the option that I need is not available online and no one is there on Saturdays. My payday loan will not clear when processed. My account has been attacked with unauthorized transactions and this has ended in me needing to make arrangements to take care of this without you running it through the bank. Please do not try to process this pmt as I am trying to stop the bank from closing the account.
I was told to sign unauthorized use papers ,contact you guys and any bills that automatically come out. I was also informed that it was my right to receive a payment arrangement. They said to be careful that a lot of online companies don’t abide by the correct State laws and even federal laws.
I was told its best to close the account the bank here has so many people with fraudulent activities happening from payday loans that a entire department is committed to investigating them.I always thought if someone took from my account it was up to me to call the police and press charges. I did not know that its my understanding the bank will do it and I dont even have control over it.
Maybe thats for the old idiots like myself who sign contracts that we wont go to court but use arbitration or whatever. As the bank doesn’t sign the agreement. I am aggravated at your company for insulting my intelligence because I am old and cant hear good.If I had not stopped this you would have either got $70 a month more than the contract states for no telling how long.Your real money making would have came in by you processing the $175 instead of $105 me not having the funds so its returned to you. You then start running it through daily so you can keep getting I think the contract says $30 each time. Well of course every single day you would get a extra $30 because the first time you ran the wrong amount the bank would start charging NSF fees it would snowball and in no time you would get rich from me.
The second gimmick is the pay off for $350 being $525 instead of $455 You throw that one in there just in case I would have paid off.You had to make something right?Do you do this to everyone or are you indeed singling me out because of my age?
Payday Loan Company Response
Attached is a copy of my email to you reveiwing the terms and fees and in the email you responded that you agreed…. The $105 fee that your referring to is for customers that gets paid weekly thats a payment that they have to pay EVERY week if they dont pay off there loan…The $175 payment that your being charged for is for customers that get paid monthly we charge our monthly customers one flat rate…. Paying a monthly rate is alot cheaper than paying the 105 weekly rate…. Never was I trying to take advantage of you because your ederly… we spoke through email and before I put your loan through I sent you a copy of the terms and fees and asked you to respond if you agree to the terms on which you did….
I’m sorry to hear your father feels he was taken advantage of by e-payday-loan.com. At this point the best way to deal with this would be for him to make his required payments he contractually agreed to while pursuing this matter to resolve the dispute.
I would suggest he follow this process to make sure he documents everything and contacts the correct authorities to pursue the matter for him.
The domain name E-Payday-Loan.com is owned by:
Murray, Utah 84157
I would suggest you contact the banking department of the state you live in and find out if E-Payday-Loan.com is licensed to lend in your state. If not, that’s an important issue to raise in your request for them to unwind the loan.
Granted, the website of e-payday-loan.com is a bit confusing when it comes to cost. it does say that the charge for a loan of $350 will be $105 for up to 45 days. At least that’s the way it appears to me.
The best car scenario at this point would be that e-payday-loan.com would respond to you or comment on this question and let you repay this loan at the rate of $105 interest per month. If e-payday-loan.com wanted to really get out of this with some positive face I’d suggest they let you repay any amount of money you have received from them so far without interest.
If they were smart they’d make this issue go away. Let’s see how smart they are.
Please post your responses and follow-up messages to me on this in the comments section below.