I filed for a loan on 6/13/06, for $200. On 6/23/06 $80.00 was deducted from my checking account. Again on 7/7 $75 was deducted. On 7/13 another $80 was deducted and on 7/21 $70 was deduction. My loan was supposed to be paid in full on my next pay day, which it wasn't. They have charged me $305 on a $200 loan.
It was my understanding when I signed the online contract was that I would pay the interest fees plus a 50$ payment to principal. When I signed the electronic agreement the payments were to be deducted on a bi-weekly basis. There seems to be no pattern to the deductions. Some of there are electronic transfers from my account to "GFSIL" Others are paper checks that have been mailed to my bank.
This has caused me to overdraw my checking account and incur hundreds of dollars in fees because I never know when it's going to happen and frankly, I don't have enough money to keep a buffer of $80 in my account at all times. If you calculate the 305$ they have already charged me, plus over draft and bounced check fees this company has easily cost me over $1,000!! There is a reason I needed a pay day loan in the first place and it wasn't so I could live on speghetti o's because of all their outrageous charges!
I need help on what to do next. I plan on going into my bank tomorrow and requesting them to no longer allow any kind of activity from this company. As far as what to do next I'm clueless. Someone please help me!
Lindsey
Cape Girardeau, Missouri
U.S.A.
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