I saw the commercials starring Montel Williams for Money Mutual . Being a little short on cash, and my car broken down, I went to thier web site, and filled out an application. The application includes giving your bank account info and against my better judgement. However, I used an account I hardly ever use carring a very low balance. I began recieving as many as 50 approval e-mails a day. I opened one offer and saw that the interest rate was almost 900% APR and declined the offer, and began deleteing the e-mails. One company, SSM put $200.00 in the account at Third Federal Bank of Newtown PA with out my knowledge or approval. SSM then began to take $60.00 every other Friday until the account went negative. (4th attempt) Third Federal did not contact me about unusual activity but continued to pay the items tacking on 30 NSF until the account was 200 overdrawn. I was then contacted by the collection Dept of Third Federal, I explained I had no idea what was going on, and Promised to come into the bank the following week. Meeting with a Bank Rep, I was advised of who was withdrawling funds, and given the Contact info. I spoke to a woman at SSM who said that thier policy was that if you did not decline, then they assumed you accepted the loan. She dais that if I never used the money, then perhaps a lender could reverse all the transactions. I called back several times and each time that rep was unavailble and was the only one who could help me.
In the mean time, even though I had filed fraud documents in a Third Federal branch, I recieved a letter signed by Ronald Keck VP of Collection treateniing to do several negative thing that included; Filing a report with the credit bureas, the IRS (unearned income) and contacting the Police. I did finnally pay off the bank total loss to me was $195...