Ameriloan more than pissed!!!

I got a $300.00 loan from Ameriloan and for a $300.00 loan, there is a $90.00 fee. I expected to pay back $390.00 on my next pay day. Instead of them taking $390.00 from my account on the due date, they only took $90.00.

I tried calling to find out why they only took $90.00 and not $390.00 but could never get ahold of anyone, so I decided to wait and see what happened the next pay date.

It turns out that although I wanted to pay the loan off the very next payday, they ignored my request and on the next payday, they took another $90.00.

Ok, now I'm pissed so I sent in a fax ordering them to stop what they call re-newing my loan. It turns out every payday they were charging $90.00 to renew the loan still leaving you with the principle balance.

I never wanted to re-new my loan but to keep these people from harrassing me at work and constantly adding fees and affecting my credit, I ended up paying $570.00 for a $300.00 loan.

They need to be stopped!!! They are taking advantage of people in bad situations and making their situations even worse.

review #195290
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Valkyrie4ever

Oct 04, 2010 #197053

check this link www.paydayloan/legislation.com check your state,and look up your state laws regarding payday loans. Also check out this site: www.prepaidlegal/hub/robertkimball for prepaid legal services (it is like medical insurance only you get lawyers instead of doctors, and only $24 a month!) worth it's weight in gold truly! Don't let these guys scare you, you have rights, they are predatory lenders and answerable to laws and regulations!

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