I borrowed $300 in an emergency. I live on a fixed income&SS$1100 and a small pension$400. Ameriloan is automatically withdrawing $90 ("renewal fee") out of my bank account twice a month ¬ even on my paydays.
With my living expenses and these 2X month service charges, I am unable to paydown the principal. So this could go on for months!
I have never borrowed money before where the interest was paid twice a month!
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