Send standard letter and revoke ACH

Submitted by Anonymous (not verified) on Wed, 10/16/2013 - 12:05
Forums
Credit repair

I am almost 100% sure that 500FastCash is definitely illegal but I want to be certain before I send them the standard letter and revoke ACH. I've paid $360 toward a $400 loan and they want another payment of $120 + a final payment of $520. I want to pay the principal, but if they are illegal, no more than that. Thanks for any help

Amy_Nickson1986

From where does the final payment of $520 come? Don't pay them anything more than the amount that you've borrowed as this is illegal.

Thu, 10/17/2013 - 05:19 Permalink
Anonymous. (not verified)

You’re right. 500 Fast Cash is an illegal lender. You owe them only the principal balance. No interest, no fees. Don’t pay them an extra dime. Close down your old bank account and open a new one to stop debiting money from your account.

Thu, 10/17/2013 - 05:46 Permalink