Posts Tagged ‘payday loan scams’
MyIdSupport.com and Payday Loan Scams and how to get a refund
It has been brought to our attention at FraudulentCharges.com that there’s yet another popular scam taking place online. After much research and debate with fellow visitors we would like to offer our opinion and some advice for customers who have been fraudulently charged by MyIdSupport.com and various similar companies via the internet.
During the current economic crisis more and more Americans are looking for credit and loans to help with bills. Unfortunately, many banks still aren’t lending or lending enough dispite the bailout money they’ve received. Many people are turning to the very few true payday loan companies available online. For the most part, unless youre in a dire situation at that moment and are absolutely sure you can repay this high interest loan in 1-4 weeks the best advice is to not deal with payday loans. Plan to repay $100 interest or so for every $300 you borrow. Like we said, its not a wise move but there are times when moneys tight, emergencies happen and your funds may be tied up and take a few days before they become available.
When you sign up for most payday loans they have numerous ads that try to sell you better credit protection, credit reports, financial advance, other loans etc.
MyIdSupport.com is one of these services. You must give banking information to the payday loan companies in order to receive the money if you are approved. Victims then check or forget to uncheck boxes during the loan application enrolling them for these extra ID protection services and allowing them to steal money monthly from your bank account unless you cancel the service. Many visitors claim that even after they cancel the service they continue to be charged amounts ranging from $17 to $40 for months to come. It is really a shady practice to steal from people who are looking to borrow money in the first place. It would be one thing to make a nice looking banner ad and have people click and sign up on their own free will, but an ID Protection company stealing your banking information for a better term and deducting funds without an prior notice screams scam all day long.
If this happens to you:
1) View the checks image online and see what company has charged you. There may be a phone number, website or even email address on the check.
2) Go to the site or call the phone number and say you want the service canceled immediately. Ask the representative for a confirmation # stating that account was canceled. For MyIdSupport.com thir homepage is listed here.
3) Unfortuntely, you did get scammed and hopefully learned a lesson about the shady practices of payday loans. It’s just one of the many ways the financial systems greed continues to hurt the global economy. We are proposing letters be sent to Congress in an attempt to stop these predatory practices. 95% of the time will not get the funds back that they originally took with customer service representatives via phone or chat. The main objective is make sure that you won’t be charged again and have records backing this.
4) Our example company, MyIdSupport.com has a site where you can file for a refund. To request a refund go to Idtheftrefund.com or click here. We can’t confirm any refunds given at the current time, but will update this post as soon as we begin to hear from our visitors. UPDATE: We can cofirm that an email stating the original charge would be refunded was sent, but will update again once we hear if that money was credited to the customers bank.
If this company or a similar situation happened to you, please send us your story or comment below. The more knowledge the public has regarding this and other issues listed on our site, the less money these companies make.
