Companies like Peppercash and Western Sky Financial (the television ad with the indian) are basically loan sharks from Indian Reservations. They let you borrow a few hundred or a few thousand dollars with the guise that you can pay it back easily in installments. However, what they do is take out the interest, usually around 100 percent or more, EVERY TWO WEEKS from your bank account. During the first 10 or 12 weeks, you will find them completely unreachable by phone and email. They will frustrate you to no end. Once they have taken their "interest" payments from you that equal a little more than what you borrowed, then the next payment is the "interest payment" plus a smaller amount that goes toward the principal. Your loan will eventually cost you three times your original borrowed amount within a one year time. What I suggest... After you have given them back the initial amount of money you borrowed, plus a reasonable amount of interest (maybe $100.00 or so for every $500 you borrowed), go to your bank and CLOSE YOUR BANK ACCOUNT. Change your bank account number. Unfortunately this involves informing your employer for direct deposit changes, any car payment companies or insurance companies who you let take automatic withdrawls from your account. It's a hassle for you to do, but unfortunately it is the only way to stop them. Also, check with your state laws. Most states require real signatures not computer signatures, and most states require faxed copies of all documents before money can be deposited. I went through this myself and closing my bank account was the the only way to stop them. And it worked.
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