I got a cash loan from Impact Cash for $300. Two weeks after the money appeared in my bank account, $90.00 was debited from my account. This happened again for the next two week intervals. Finally after paying $270.00, I called to find out if the final $90.00 payment would constitute the end of the loan. I thought after 4 payments of $90.00, with a total of $360.00 being paid, I was finished. I thought the extra $60.00 was the fee for borrowing, boy was I wrong. They told me that the $90.00 taken out was not payments on the loan but a renewal fee they automatically filed for me every two weeks. From the paperwork, I was under the impression that if they were unable to debit my account for the funds then I was going to be charged a fee. I did not ask for a renewal nor did I want a renewal. I thought I was paying on the loan. Today after thinking I was finished I found out I still owe $325.00. What a Ripoff!
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