Q: If a loan company never gave you an approved cash loan but automatically charges your account, are they liable?
I requested a loan and was told it was going to be deposited in 2 - 3 business days but it’s been more than a week and still haven’t received anything. I’ve contacted them many times but they take a whole day to respond and still haven’t resolved my issue.
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- California
- (916) 704-3009
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- Answered
A:
Under California law, if a loan company never provided you with the approved loan amount but is still charging your account, they may be liable for unlawful practices. You have a right to receive the funds you were promised, and charging your account without delivering the loan could be considered a violation of consumer protection laws.
First, document all communications and attempts to resolve the issue. This includes saving emails, messages, and notes from phone calls. Having a record of your efforts to contact the loan company will be helpful if you need to take further action.
Next, you should consider sending a formal written complaint to the loan company, outlining the problem and requesting a resolution. If the company does not respond or resolve the issue, you may file a complaint with the California Department of Financial Protection and Innovation or seek legal advice to explore your options for recovering any unauthorized charges.
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