Drive Financial Services
Outragious interest rates 24.99 percent 20,000 dollar loan with 10,000 in interest over all is that right?
- 10-04-2007
- 20
Drive Financial Services is using unfair interest rates on people with less than perfect credit. My contract agreement was for an initial $20,000.00 and with a 24.99% I would have paid over $30,000.00 by the time I would have finally paid off the loan. I have made a year's worth of payments and have continued to make my payments on time. It seems like there's no end when most of your payment is paying a monthly interest ammount and very little on the actual ammount. It is next to impossible to get a hold of them and when you do, you get unproffesional and rude treatment. The only way you don't have to pay a $10.00 payment processing fee is if you have a direct deposit set up and they will not release a routing number for you to set it up on your own. I am serving our cuntry in the US ARMY and use MYPAY for my financial needs. I can set up payments to be paid monthly but taken out bimonthly. It is easier for me to pay $300.00 twice a month than it is to pay $600.00 in one pay day. Drive doesn't want that to happen because they will lose out on the $10.00 payment processing fee. Do the math, 10.00 times the number of payments you are set up to make (60) and that is $600.00 just to pay your bills. I don't think so.
Company: Drive Financial Services
Country: USA
State: Texas
City: Dallas
Address: P.O. Box 660633
Phone: 8882224227