How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 116713
Experience:  Attorney experienced in commercial litigation.
10285032
Type Your Consumer Protection Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

I have taken out an online loan. The repayments started

Customer Question

I have taken out an online loan. The repayments started immediately. The agreement was for 12 weekly payments. I agreed to automatic withdraws for payments. This started in March and continue. The repayment has been met. I do not understand why the withdraws continue. I have contacted the lending institution several times for answers but am getting nowhere. What are my options?
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
These online loan companies are involved in many forms of unfair and deceptive business practices. If you agreed for 12 weekly payments and you did not miss any payments, then they have no right to continue taking money.
First step, file a complaint with the Attorney General in the state where the lender is located. The Attorney General's Consumer Protection Unit can get involved and assist people like you in resolving these matters.
Second, you are going to need to close the account they are making withdrawals from, this is a way to stop future losses from this company or put a stop payment order with your bank to stop authorized withdrawals.
Third, if they have taken more money from you than you agreed to repay them, you would have to sue them in the court where they are located. You can sue in small claims court there and if you incur travel costs as well, those costs can be added into your suit against the company to get any overpayment they took from you returned.
These are your options for dealing with companies like this one.
Customer: replied 1 year ago.
Thank you for your quick reponse. I live in the state of Oklahoma. Which attorney firm would you recommend to me for help in this matter?
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your reply.
State law forbids us from making personal referrals, but you can get a local consumer protection attorney at the same sites used by other attorneys, http://www.lexmundi.com or http://www.hg.org

Related Consumer Protection Law Questions