Complaint / review text:
Back about 6 months ago I took out a small $300.00 Payday loan from Ameriloan. I authorized them to deduct $90.00 per month untill the loan was paid in full. They were to take the payments on the 15th of the month. Well this is the sixth month they are still taking out money and in fact they took a 90.00 payment on the 15th of this month. A 50.00 payment on the 18th of this month and a 30.00 payment ion the 21st of this month??? Causing my bank acct to go into the negative 286.00 after all bank fees.
I called ameriloan at my banks request. The very rude woman on the other end of the phone told me that the 90.00 payments that i have been making for the last 6 months were in fact not being applied to my balance but instead where Fees for extending my loan out. I have paid $90.00 a month for 6 months on a $300.00 loan and i still owe 468.00 to ameriloan. This was not the ad i signed up for. I never agreed to re-extend my loan indefinatly. Are You Kidding Me!!! This was supposed to be a simple payday loan with a few easy payments and nothing more.
This has turned into a nightmare. I have seen several complaints like this all over the internet. Please beware Ameriloan is a SCAM to rip you off.