I applied for an online loan with several companies in 2014 but got turned down. Ever since then I would get frequents emails for online loans that I sent to spam...However in May of 2016 American Web Loans decided to approve my 2014 loan application.
Without my consent AWL had processed this loan application and deposited the funds into my account and had took the 1st payment before I saw the transaction 10 days later. When I called the company they insisted that I took out the loan...(I was denied in 2014); I NEVER applied or agreed to a loan or approved the transaction in 2016. When I tried to return the money & pay them off they still wanted to charge me an extra $77 dollars for having the loan out for 11 days! Incredible.
I have no issues paying back your money...My issue is how do you process and approve funds on a 2 year old application without any authorization.
I have to change my banking account because according to my lender other companies can also do this using an old application!!
Product or Service Mentioned: American Web Loan Loan.
Reason of review: No authorization to process this loan.
Monetary Loss: $77.
Preferred solution: Subtract my 1st loan payment from what was given and I pay the balance. You get your money back for a loan in 2016 that I did not request .
I didn't like: Being ripped off.