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SDS Processing – Has anyone dealt with them?

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Posts: 33
Credits: 1065.55

I had an account open with these guys starting in June 2007 for a $250 loan. They took $150 out of my account every month until today (so they have been paid $1500!). I sent them a C & D letter and they responded:

Ms. ######,

In response to your letter, regarding your loan with SDS Processing, we will no longer debit fees from your account. We will not be refunding any fees to you. We have forgiven the $250.00 loan that you have not paid. If you did not agree with the terms of the loan, you should have not taken the loan. When the loan was processed the terms of the loan, including the fee amount was explained to you by a representative of our company. In addition you received the terms in writing when upon completion of the loan processing. Again, you have not paid the $250.00 loan and no fees will be refunded to you.

SDS Processing

Am I entitled to a refund? I have filled out a complaint with my NC Attorney General with a copy of the letter I sent and a copy of their reply and sending it out today.

OMG! Heck yes you are entitled to a refund! I don't know that you'll be able to get one though, I know very little about this particular company so it's best you wait until someone with more experience and knowledge about them come along to help you out. What state do you reside in? Is your bank account still opened? I don't think I would trust these people, if they took that much money from you already, they're might try to wipe you out. If your account is still opened, you should close it ASAP! Or, contact the Bank Manager and put a hard debit block on that account so these people can't take any more of your money. If it were me, I would simply close out the account. Please hang in there until someone else with more knowledge about this is available to help you. Regarding clsoing accounts, please read the link below before you close your account. ount.html

Sub: #1 posted on Tue, 04/01/2008 - 04:43

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

Thanks for the response! Im in North Carolina, so I know they are illegal here! I hoped I wasnt in the wrong with this one! I sent a letter to my AG yesterday with copies of my letter and the return letter so hopefully that will get the ball rolling. I just checked my account, I already put a hard block on any ACD debits going through, and nothing strange has been taken out of my account, so as of now, im ok. Im still going to fight to get a refund. I cant believe these people and that they will "forgive me". Whatever! Im going to try to get my money back!

Sub: #2 posted on Tue, 04/01/2008 - 17:54

mooreba79 mooreba79

(Posts: 33 | Credits: 10.66)

I can't find a mailing address for SDS Processing so I can settle my account. SDS does not want to provide their address. Does anybody know sds processing mailing address?

Sub: #3 posted on Tue, 11/18/2008 - 00:28


i just started researching this company and came across this site, i was checking my bank account and came across seven $60 charges and a $200 deposit from sds from august, from what i remember and see i had $1,500 in my bank account and when i received a phone call and after hearing all the agrrement at the end when the person told me the amount of the loan i refused. now i call and the woman starts yelling at me and when i accidently adress her a "honey" once to quiet her down and talk she shouts "dont call me honey, im hanging up now, youre being extremely rude!", mind u i adressed he as "honey" once and thats all. she hangs up and im stuck with these ridiculous charges. how can i not pay $200 on my income and why after removing atleast $60 charges wouldnt they have stopped if it equaled to be over the borrowed amount. what should i do now?!

Sub: #4 posted on Tue, 12/09/2008 - 03:18


Hi skp,

You can have your bank put a block on their withdrawal/$amount, it may cost a fee, but it will stop them from debiting. The only downside would be that they could possibly withdraw under another name or $ amount.

Sub: #5 posted on Tue, 12/09/2008 - 21:25

dawnlango7 dawnlango7

(Posts: 1147 | Credits: 48.27)

blocking a particular company doesn't usually work as they will just come in under a different name.. i would first check the banking laws of your state than talk to a branch manager about your options of closing account/putting block on.

Sub: #6 posted on Tue, 12/09/2008 - 22:19

bea2ls bea2ls
(Posts: 3840 | Credits: 370.56)

Either closing your account or placing a hard debit block on it is the only sure way to stop withdrawals. CLICK HERE to read about closing your account before you do so.

Sub: #7 posted on Tue, 12/09/2008 - 22:43

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.83)

they got me too they have been taking out 60$ since dec 2007 and i caught them because they took a dbl paymen out i went all the way back and noticed they deposied 200 but collected over $1400 dollars in a years time is this legal where is the this company located

Sub: #8 posted on Sat, 01/03/2009 - 03:09


I had a loan with this company and never had a problem. When i accepted the loan they made it clear that every two weeks the loan will refinance and the fee will be debited from my account UNLESS i call and make a payment. It took me a little longer then i wanted to pay it off, but once the loan was paid the fees stopped. I understand how this could be confusing, but these loans dont come free and it states in the contract what you need to do to pay it back.

Sub: #9 posted on Mon, 04/06/2009 - 23:54


mooreba79 - the bottom line is that the loan is not legal, please disregard jdiaz1985. they are not allowed to lend to you, therefore the fees are not legal to charge you.

Sub: #10 posted on Tue, 04/07/2009 - 21:08

bea2ls bea2ls
(Posts: 3840 | Credits: 370.56)

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