About Michael Brotherton Expertise Consumer/Debtor Rights Advocate.
Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years.
Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser).
Experience 30 years experience negotiating disputes and resolving financial issues related to consumer debt, corporate debt, and mortgage restructuriing.
Question I borrowed $300. from them by a PayDay Loan online. On my payday which is once a month (on SSD) they were supposed to take out $360. but did not, instead, took out $65., I tried to call them, never could get a live person, so I waited, then on the next payday 2/18 they took out $140.00 of my checking account, which caused an od at my bank. I tried calling again, still no response? I then faxed a letter to them advising that I had no authorized either transaction. Still no contact from them. I closed my checking account and filed a dispute on both transactions. Was this the right thing to do? What do I expect next from them?
Answer You did the right thing. The dispute you filed with the bank is sometimes called a fraud affidavit. The bank should be able to get your money back.
You may want to send a certified letter to the payday loan company informing them of their error and advising them of your plans in this matter. If they caused charges ask them for the money. Give them 5 days to repsond or you will be filing a complaint with the state attorney general and the Federal Trade Commission as well as the Dept of Commerce for your state. This should get their attention. if not, file the complaints.
