Loin Point Capital USA/Geneva Capital gave me a pay day loan on Feb. 9th for $500. I failed to pay it back in 2 weeks and was charged $150, as prescribed in the contract. Just today 4/4 I received a voicemail at my work phone number, which was never given to them, stating that I now owed $1100.
Furious, I immediately called the number given, spoke to a representative. She refused to answer very specific questions that I had and proceeded to hang up. I called back, spoke to another representative, who did the same. All they kept saying over and over was that I can pay by debit card. They would not answer a question.
The interest charged on my initial loan is now 120% over less than 2 months. I just googled, the company and unsurprisingly found out that they were scam artists. I am not a lawyer, but I am smart enough to know that Usury laws certainly do not go up to 120% over 2 months.
They, without my knowledge have three times charged me $150 and overdrew my checking account, which has caused me further problems with my bank. This cannot be tolerated. This company is taking advantage of people in a very tough financial spot and they obviously all know that they are doing so. They are no better than a common thief.
Please help me attain recourse. This cannot be allowed to continue. Thank you kindly!
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