- Report: #370931
Complaint Review: Cash Direct Express - GECC - Internet
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Author Confirmed
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Cash Direct Express - GECC
www.cashdirectexpress.com Internet, U.S.A.
Phone:
866-432-2562
Web:
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Cash Direct Express - GECC repeadly taking money out of my account after loan has been paid Internet
I took out a $400 payday loan with Cash Direct Express on 5/30/08. I filled out the application on the internet on 5/29/08. I also was asked to call an 800 number, which I did. I answered the questions and was told that someone would contact me to finish processing the loan. No one did and the next day I had $400 in my checking account.
On 6/13/08 is when the first automatic withdrawl for the the loan occured for $106 under GECC. For the next 6 pay periods $106 was taken out of my account. This totaled $636. There was also another withdrawl on 6/13 for $40. I thought that was the end the loan was paid off. WRONG!! On 9/5/08 i had two withdrawls on for 95.40 and one for 40.00. I call cash direct express and was told that I had been paying interest on the $400 and that the principal balance owed was $404. So I have paid $800 so far and have not paid the principal down at all. They are draining my bank account and causing me to have overdraft fees. I just want it to stop.
Steph
Camdenton, Missouri
U.S.A.
On 6/13/08 is when the first automatic withdrawl for the the loan occured for $106 under GECC. For the next 6 pay periods $106 was taken out of my account. This totaled $636. There was also another withdrawl on 6/13 for $40. I thought that was the end the loan was paid off. WRONG!! On 9/5/08 i had two withdrawls on for 95.40 and one for 40.00. I call cash direct express and was told that I had been paying interest on the $400 and that the principal balance owed was $404. So I have paid $800 so far and have not paid the principal down at all. They are draining my bank account and causing me to have overdraft fees. I just want it to stop.
Steph
Camdenton, Missouri
U.S.A.
1 Updates & Rebuttals
DennisS
Olathe,Kansas,
USA
GECC Rip Off
#2Consumer Comment
Wed, November 04, 2009
I have also dealt with this company. If your bank refuses to block any ACH debit from them, close the account. Check with your state's attorney general's office or the state banking commission and file complaints with the appropriate agency. This company is operating illegally in my home state. Probably in yours too. Internet payday loan companies are required to be licensed in any state they do business in. Good luck with your predicament.
