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Submitted: 4/21/2007 9:12:56 AM Modified: 4/21/2007 9:13:00 AM

I would like to graciously file this report about a payday loan company named www.ezloansbynet.net. This is an absolutely honest account into what happened after I applied and what approved for a loan of $300.00. The $300.00 was credited to my personal checking account on Decemeber 22, 2006. Conditions of the loans, based on the "Loan Agreement" were that $75.00 would be automatically deducted on each of my paydays, which were the 15th and last day of every month. Now, after the credit on December 22nd, here is what exactly happened afterwards in regards to the debits and my "communication" with this company. The first debit was processed on 12/29/2006 for $75.00. No problem so far. Then, without warning or any kind of emails, calls, or letters from the company, another $75.00 debit was taken out on 01/05/2007, which was *not* a payday, compromising my checking account as a result. I was not made aware of this debit and I was very unhappy as well. The next debit was processed on 01/12/2007, again, this day was *not* a payday. My payday was on 01/15/2007. Around this time, overdraft fees were accumulating on my account, something that was not happening until their debits starting taking place. Also, the amount that was debited was not $75.00. The amount was $81.25. You should notice that this is three debits on three consecutive weeks, when the debits should be taken twice a month. Take a look at this. The company later stated that I placed a stop on this debit, but I never authorized a stop payment nor is there any evidence that a stop payment was placed. I merely sent notification to my bank to contact them and see what was going on, but apparently ezloansbynet interpreted this as a "stop payment." That's why it was raised from $75.00 to $81.25. The next debit was in the amount of $56.25 on 01/22/2007. Notice a trend here?? The 22nd was *not* a payday, and again, NO notification of any kind letter me know these debits were being processed. Around this time, I contacted the company, they stated that my pay cycle was "off course" and that due to "issues with their systems," my paydays were not in sequence (the debits were to come out on the 15th and last day of the month). So this was the company indirectly telling me that their "system" was allowing them to take money when they very well pleased and it was nothing I could do about it. The next debit, which ironically was on a payday, was on 02/15/2007 in the amount of $37.50. Why did the debited amounts decreased? I don't know. The next debit processed on 02/20/2007 for $37.50. Again, this was not a payday, and this comes a mere few days after the debit on 2/15. On 03/01/2007, $52.50 was debited. As you can see, the amounts are increasing and decreasing at will, which cannot be done without the approval of someone in a prominent position to make such decisions. I contacted the company again, and they swore it was nothing they could do to cancel or stop such debits. They stated I had to "go to their website and do it myself", whereas on their website gives customers no capability of doing that. 3/1 was not a payday by the way. There was a debit of $85.00, again an increasing amount on, ironically a payday, 3/15/2007. How can these debits take place unknowingly by someone? How can no one have the capability to stop these debits? Why are the amounts increasing and decreasing? Why am I not being notified on any of this? Questions that need to be answered. On 04/06/2007, a day that was not a payday, $31.50 was debited. Here is another debit that came totally unexpected. I had to make concessions and take money from an account that's designed to be a savings account to cover this item, otherwise my checking account would've been overdrawn. And finally, on 04/16/2007, a few days shy of my actual payday on 4/13, $69.75 was debited, again another significant increase/decrease. This payoff was to take place earlier than April, but it was extended due to the excessive and unauthorized debits. In total, the amount of money that was debit by ezloansbynet was: $636.25, $300.00 MORE than what the original loan was for. Let's take a look: Unauthorized debits No emails, letters, or phone calls Lack of assistance from "representatives" Representatives "unable to cancel anything" Increase and decrease of debited amounts False claims Misleading information given from reps and on website All of this relevant information is grounds of illegal activity on behalf of a company in order to collect funds. I believe there should be some kind of legal action against this company. Wayne Richmond, Virginia U.S.A.

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