I got a loan for $300.00 USd from goodtimecash.com back in October 13. I never got an e-mail with a confirmation or anything. I had done this in the past and the companies I had done business with usually charge $20 to $25 USD per $100 USD lent. So, I though this was going to be the case and did nothing.
After 2 weeks, this company deducted $90.00 USD from my account and I though, "it is part of the payment, I guess", so this went for 4 straight paydates. I though "good the loand has been paid". To my surpirise, on my 5th paydate they deducted $140.00 USD (I though, well, maybe they charge a little bit more, eventhough it was already $500.00) and on the 6th $125.00 USD!!!
After the 6th deduction, I contacted my bank and my bank told me they could do nothing about it because I had an agreement with them (an agreement??? What agreement, I did not see any agreement at all!!!).
I finally was able to get their phone number and called them. To my big surprise they told me that my balance was $270.00 USD!!! That all I had paid so far was the interest and $30.00 off the principal!!! I told the lady I was not going to put up with this and that I was going to file a lawsuit. She offered to shave $70.00 off the balance if I paid the balance right then. I did, I paid another $200.00 USD!!! For a total of $825.00 USD. $525.00 USD interest for a 2 month $300 USD loan... Come on!!! And that is because I paid ahead of time, otherwise they were going to chage $90.00 USD interest $30.00 of principal payment for another 9 paydates!!!
I am posting this in hopes other people reads it. I wish nobody else does buisness with them. If you need $300.00 USD for a payment, it is better to pay the $40.00 USD late fee, pay one month later and get a small blemish in your credit report than to be RIPOFF!!!
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