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Everest Cash Advance / Unauthorized and Unlawfull taking money from bank account

1 San Diego, CA, United States Review updated:

On a desperate day while rearching for pay day loans on internet I came accross this site which seemed reasonable. I submitted my information including my bank account, at no time did I agree to anything on the internet. I received a call later from a representative of this company who contacted me about the loan, this person told me for a $300 loan I would be charged $100 in interest which seemed kind of high to me. I informed this person I would think about it and call them back, which I never called back or agreed to anything or received any type of details except for the $100 interest on the loan.
sincerely
Rosa Oceguera
tel [protected]
the next day i notice the loan on my bank account, I was hesitant and confused about how they just put the phone day without a final decision from me, but being desperate for money i left it at that.
couple of weeks later I saw the first bank withdrawl of $90 which I figured they were going to be taking the loans payments in installments. Not after seeing more than the $400 I was told I had to repay that I contacted the company (3 weeks ago) at that time a very rude representative informed this were only interest charges on the $300 loan, so far they had deducted an excess of $655 dollars. this person told me they would continue deducting money every two weeks if I did not pay them that day the amount of $295 dollars. I was in shock, could not believe what I was hearing. Anyway, i informed this person this was a rip off and was going to submit a formal complaint, which I have with couple of organizations, including Consumer Affairs. Till now they are still deducting money from my account and my bank seems to have no control over this . PLEASE HELP, I am a single woman with financial probles and trying to manage not loosing my house.
The

An
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Comments

  • An
      18th of May, 2011
    -1 Votes

    please inform me of any outcome related to this complaint.

  • Ya
      18th of May, 2011
    -3 Votes

    My son also called on a very similar thing. He told me and I explained that it was a scam. So i took him to the bank closed out his account came home called the company told them they could never debit any more money and demanded the money back they had debited. If they did not want to do this we would file the complaint. He agreed to send the money back which was dwbited and i assured him we would wait 15 days for the refund. If no refund the complaints would be filed. The money was returned. Close out your bank account and re open another one. File your complaint.

  • Mo
      18th of Jun, 2011
    0 Votes

    My husband took out a payday loan from Everest. BIG MISTAKE! He has already paid back the amount plus what would be the interest. They are still taking $120 out. He canceled the payments, and they decided to take $145 out anyways. We canceled our bank account, and are possibly going to take legal action. He has had pay day loans in the past, and say one was for $300, he paid back $380 and was done. Everest however is not a good place to deal with, and I hope no one ever goes through them again.

  • Jb
      3rd of Aug, 2011
    +1 Votes

    You have to actually pay the loan back. If you had paid back on the next pay date (as the company intends) you would have only paid $390. $300 + the finance fee of $90. Since you chose not to pay it back on your paydate, the company only took the finance fee and will keep doing so until you choose to pay down the principal of the loan. If you don't pay down the principal, you are simply rolling over the loan any paying just the finance fee each month - the same you would do on a credit card or line of credit. You should only take out a payday loan if you are planning to pay it back quickly.

  • 77
      12th of Aug, 2011
    +1 Votes

    i have just took out a 400 doller payday loan an as any payday loan placew you will deal with the same thing if you dont pay the loan off you will have to keep paying roll over charges that's that if you cant handle dealing with a payday loan then you should not have taken one out if you just pay it like you said you would then you would not have a problem at all

  • In
      21st of Aug, 2011
    +1 Votes

    Obviously, none of you who are complaining actually read the online terms before you clicked "continue" on their site. It CLEARLY states that only the finance charge will be deducted on the first installment and the loan amount, with interest, will be automatically extended unless you call to cancel the extension and agree to pay the full amount on the first installment. The interest continues to accrue if you allow the extension to remain intact.
    You don't read what you sign, then you get on the internet and slam a company whose terms were disclosed and which you agreed to. Good luck pursuing that in court! I have taken out a payday loan from Everest, I READ the terms, I asked questions before I committed...when they explained what exactly the extension meant, I told them I wanted it paid off on the first installment and they entered that into their system. If I have any complaints after the first installment, then my complaint will be legitimate...it won't be because I leaped before I looked. I read what I was signing, I asked questions, I stated my terms before I committed to the agreement. I foresee no problems with this going exactly as I arranged. Will update here after the loan matures. In the meantime, READ WHAT YOU'RE SIGNING before you start whining!

  • In
      21st of Aug, 2011
    0 Votes

    And ps...to the person who took her son to the bank, closed out his account and called Everest for him...can't he do anything for himself? Good God.

  • Bu
      28th of Jan, 2012
    0 Votes

    This company seems to be part of a scam. I had no problems until i took out a loan through them. A company called county check services somehow got my info and tried to scam me for 1500. A message on a complaint page such as this published by the FBI says county check services is a scam and seem to get their info after the victim has got a loan from a payday loan place. They list cash net as one of the places, but no mention of everest. However cash net was just one example. After further reasearch I found everst cash advance isn't even licsend to do buiesness in the US. Therefore they cannot take legal aginst you if you choose to not pay them back. However none of the info I recieved is gaurenteed to be correct so i suggest you do your own reasearch as well and let me know if your situation is the same.

  • Ma
      9th of Nov, 2012
    0 Votes

    I visited their site too, and started an application, then decided against using them as the amount they said i qualified for was not what i wanted. i did not complete the application, did not authorize or sign any agreement. About 8 days later I went to my account to make a bill payment and I saw that they had deposited $500 in my account. I called them immediately and told them i did not authorize a loan and asked them to take the money back i did not want it nor agree to it. They refused, and they took $75 out of my account for a so called "extension" that i never requested. I filed a complaint with my bank, and am filing complaints for fraud against them.

  • H1
      21st of Mar, 2013
    0 Votes

    Everest has given myname to a lawyer and they have threatened to arrest me and contact my job...If I don't pay can they really arrest me?

  • La
      13th of Aug, 2013
    0 Votes

    NO - check out this website: http://nasonlawfirm.com/archives/26
    payday loans are illegal in most states... do you have the loan terms for everest or does anyone have a copy of them? i need them for a complaint I am making... thanks

  • Rw
      17th of Mar, 2014
    0 Votes

    Everest was sent a desist and refrain order and an order to disgorge by the state of California back in 2011. They were and still are unlicensed to provide loans to anyone in the state of California. I had a loan out with them and had been paying and rolling over, which I initially had no problem with, but then I started receiving emails from them asking for debit card information - this made me suspicious. After checking with the California Department of Business Oversite I learned that they and many other unlicensed Payday Lenders have been blocked from accessing California bank accounts. The reason for this is that they charge more than the legal rate for California and are still unlicensed. Since I'd basically already given them back more than I borrowed, I told them that they could not have my debit card info, and I emailed them copies of the notice given to the banks and a copy of the desist and refrain order, and that we were simply done. This was a couple months ago, but as of last Friday, the collection calls have begun. I've told the collection agency all the above information, as well as the fact that since Everest already knew that they are not supposed to lend to Californians, and my address is CLEARLY in California, that they should have rejected the loan request and their knowledge of all of the above makes the entire contract void. Of course, the collection agency won't listen. I've already submitted complaints to California's Department of Business Oversight (which of course will take forever, but the calls don't really bother me), and if it goes to a credit bureau, it will easily be expunged with the above information.

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