On May 9 I obtained a loan of $400.00 from American Web Loan. From the paperwork that I received in an email I was advised that a payment of $120.00 would be taken on each one of my paychecks to repay the loan. Little did I realize that this payment was NOT going to be lowering my loan amount. On September 19 I had to close my checking account. After adding up all the payments that American Web loan had taken, I realized I had paid them $1200.00. At that time I tried calling this company but was not able to get thru to anyone.
On October 6, I received a call at 7:15am waking me to find I was being called by a woman who said she was calling regarding this loan. She said there had only been 6 payments of $120.00 each, I disagreed with her and advised there had been 10 payments for a total of $1200.00. She said then that it didn't matter how many payments had been made because none of them went toward my loan amount and now I currently owed $640.00, adding that $20.00 was added due to my bank account being closed. I tried to explain to her that after paying $1200.00 I felt this was a satisfied payment on this loan and would not be making any further payments. At that time she informed me that I would be facing a garnishment and the conversation ended.
I feel that I have more that satisfied this loan at at least 300% the amount of the origianal loan amount, and am upset at being called so early in the morning regarding this matter.
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