So, the bottom line is that this company indeed take advantage of people who are down on their luck and desperate for some help. Their loan rates range anywhere from 9.99% for a 5000 dollar loan to 24.50% for a 200 dollar loan. Just some easy math for you, thats 500 dollars every 30 days for a $5000 loan, and thats just the interest on it, none of that $500 goes towards your loan amount. Also if your late, you get charged a prorated fee, which on $500 is 16.60 a day extra for every day that you are late. A $200 loan interest payment is 49.00 every 30 days which is only interest. How are you suppose to pay off something like that without way overpaying what you borrowed. Its legalized robbery.
Now we all know that companies like this like to hassel you if your late, and being a former employeed, most of us hated having to hassel you, but we do what were told. Ive seen managers show favoritism towards some customers and be mean to others, and it all depends on the loan size. My former manager would repo you, cuss you out on the phone when you called in to see about it and then wouldnt give you a chance to pay to catch up or pay it out. All because he was pissed cause you were late and his manager was getting on him.
As a former employee, I can tell you that the pay is good if your a higher up manager. Branch Managers make anywhere from 50,000 to 80,000 a year, DM's in this company make around 100,000, and RM's make close to 200,000 a year. All the while the lower end people doing all the back breaking work, like phone calls all day, chasing down accounts, make house calls on late accounts, doing inventory on repoed vehicles make crap for what they do. Its not a fair system. Not to mention that you work from 9 to 7 monday - friday, and work on saturdays. Dont even think about trying to ask for a day off, it was like pulling teeth. They could care less about your safety, sending you out at all hours of the day to find peoples cars and knock on doors, and doing all this in unsafe neighbor hoods, in your car and using your gas. You could sometimes drive 100 miles a day chasing accounts.
If you want to know how to beat their system. Just let me know. It is very easy.
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