I aquired a payday loan from GRC for $300 dollars in Feb. There was an initial fee of about $130 that was deducted from from my account after 2weeks and a $90 dollar deduction every two week after that. After another $90 deduction in May I had forgotten how much I had gotten from them I thought it must have been around $500 for me to still owe. I contacted them to find out how much I still owe and the automated service said I still owe $390. D*n, how can this be. I calculated all the payments of $90 dollars to this date and realized I had already paid them $630 in $90 payments every two weeks. I thought not only am I not giving them any more money but they owe me.
I called again and spoke to a representative who advised me that the loan was for $300 and I still owe $390 the amount of the loan and some type of fee. What! I explained I have been charged $90 every two weeks for months. I asked where did that money go? She said that money was to extend the loan and since I never sent any of the emails back authorizing them to take additional money to put toward the repayment of the loan or to authorize the full amount of the loan to be dudcted from my account the $90 charges were extension fees.
What! So what I did was stop payments through my bank.
I don't know if that was the right thing to do because after a few refused payments they had a "paralegal" contact me from the collection agency advising me that the new amount due is $929. We discussed settling for original amount she said she would get back to me. I was charged $390 dollars on 8jul and she says I still owe $500.
What can I do? I don't have $500 dollars to pay them. I am so angry. Does anyone have any suggestions I was told there is another charge due to hit my account on the 18jul. Should I do another stop payment or work out a payment plan or???
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