You know the story, everyone has been there. Short on cash, how could this happen, what do I do, blah, blah, blah. End result; find a loan. So, you go online because you have had luck with that in the past and you sign up for the most legitimate looking one. You go through the process, you read the documents pretty thoroughly before signing your life away. All is well, right?
Wrong!
After four months (or eight paychecks) I noticed that I was still being drafted for a petty $150 dollar loan I took out. So, thinking that these scavengers were charging me some kind of membership fee, I logged into their website and glanced to the right and saw I STILL owed $130... Wait a second that can't be. I just saw on my account where they took $90 from me just two days ago.
So, now, I go and do a search of my bank's transaction history and add the transactions from this company all together and find out that they have already taken... (you might want to sit down. Remember, I said previously the loan was for $150) they have already taken $275...
What the f*?!?!?!
So I call these people, scoundrels actually, and I ask them how that is even possible. I have taken loans from a different online service in the past and the first payment was just the interest then the next payment was the principal. Not with these scoundrels. Apparently, when you are owned by a "tribe" (notice tribe is in quotes. I have never heard of this tribe and cannot verify it ever existed until they wanted it to) you are allowed to put all over the loan document that you will be charged in two payments as described above with the first being interest and the next being principal. But, then somewhere in really really tiny print put a whole paragraph negating everything that was previously outlined in the document. Don't put up with these people. Tell them to go to hell.
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