Money King Loans
Complaint 181398 Details

I took out a loan with MKL on 10/24 and went through the process, signed loan documents, etc and was informed my first due date would be 11/15. Well they charged me my finance charge of 81.26 on 10/31 (early) and when I called to complain and say they made a mistake, at first I thought everyhting was going to be fine. The rep on the phone recognized the problem, apologized for the inconvenience, and proceeded to call my bank to verify that I had in fact been charged the 81.26 early. After confiming this, he said that he would "escalate" the problem, and that my refund would be processed asap. He said, "please keep in mind that this could take up to 4 business days to post to your account." Fine. (5 business days later) on the next Friday, I call and ask why I have not received the funds back yet. I am told it has been "escalated" (again) and that I should receive the refund on Monday at the latest. So I call Monday and ask the same thing, am told the same thing, except it will be Tuesday at the latest. Tuesday I call and am furious by this point and ask what the heck is going on and finally get the truth from this one guy. He said, your ACH refund was canceled or rejected (i forgot which he said) by one of our Account Specialists. I said ok.... why??? You guys STOLE money from me and are saying you aren't going to give it back? He then proceeded to offer me a "deal", that instead of refunding the money they stole from me, that I could move my loan due date back 15 days and get a discount on the next payment. (this was actually the 3rd time I was offered this kind of deal throughout the process) I said NO. I want my MONEY that you guys STOLE from me BACK into my account. He said he would "escalate" the problem further and would call me back because he was waiting for a reply from the Account Specialist people. I said, do you understand where I am coming from? Offering me a discount on my next payment and extending my due date still does not give me back MY MONEY that YOU STOLE. I don't know if they think that most people will just give up by this point or what, but I feel bad for the hundreds of people I'm sure they have done this to. It is sad, wrong, and should be prosecuted criminally. Still have not heard back, and right now I am speaking with lawyers to find out how I am going to pursue this matter legally. They sure do take money out of your account pretty easily. It's just about impossible to have the money flow back the other way though. Crooks.