Preferredcashloans
Ripoff Loans, put 250 in my account, no signature from me, charge 75 biweekly, pay off is 325 but ending amount will be close to 1500!

This company put $250 in my checking account. I did not sign for loan. I paid $75 for payment, thinking that this was just a fee and then the rest would be taken out as $50 payments. I also was lead to believe that payments would be once a month.

WhatI have now found out is the intial $75 was the first of five bi-weekly payments ($350) and now the pay of date is coming up they want $125 for first payment ($75 for renewal and $50 for paydown) at this rate I will pay another $725 plus the $325 the loan is suppose to be.

I only got 1 renewal sheet which is the one asking for the $125 payment on 4/21/05. Boy was I surprised to see that nothing was paid on the account and it was going to cost me approx $1000 or more to get this paid off.

Thatis a total of $350 $725 $325=$1400 for a loan of $250. If this is not a ripoff than I don't know what is. I am not even sure how this company got my email address, bank info or number. All I do know is that they misrepresent them self to the person checking this out and then they sink there teeth in and really take your money.

I would also like to note that my account information was stolen via online and I have spent months undoing damage done to my bank account, perhaps this was one such event that I missed! I have put Spyblocker and redone passwords, cancelled longstanding accounts, argued with businesses who charge to account but never receive item, all to aviod this type of crap.

Company: Preferredcashloans
Country: USA
State: Nevada
City: Carson City
Address: 2533 N Carson St. Suite 5024
Phone: 8002303266

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