I recieved a "payday" loan from this company to pay an unexpected bill... I agreed to their terms, and was satisfied with the service... The loan was scheduled to be automatically withdrawn from my checking account, and on that day, my balance was more than sufficient to repay as agreed.
The following morning I checked my account balance, only to find that they had charged my account the interest on the loan, and not the payoff as specified in the contract. I then spent over an hour on the phone to their office, on hold, only to be disconnected about every 8 to 10 minutes... When someone would pick-up and hang-up... This continued until I decided to file this report.
I understand these loans, and have used them (from a different source) before... Yes, they are high interest, and I do not carry them any longer than 1 or 2 paydays. This loan was for a term of 2 paydays, and was scheduled, by contract to be paid-off on the "due-date"... Now, they do not answer their phone, nor do they respond to e-mail contact...
I will close my checking account before I will allow them to gharge me a second interest payment without my consent.
This is a true Rip-Off! If I had requested an extension... Then it would be on me... But, I did not!!!
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