Menu
Login
Needed a bridge loan due to financial hardship. Took out a loan for $1,250. The interest rate is 596.87% and the finance charge is $6,481.40. This is just a shame to charge that much interest to people who are in tough financial times. It is really taking advantage of them. There should be a national law against these type of interest rates.
When I called and stated that in my state of Illinois, there is a cap of 36% on loan interest, they stated that does not apply to them and when asked if they would at least lower the interest rate and payments, they stated that they would not.
Country of complaint: United States
Address: P.O. Box 578, Ft. Belknap agency, Hays, MT. 59527
I am in the same boat. After some research I’m looking into seeing about a class action suit. I’m in Colorado and we have the interest rate guidelines aswell. They do a great job about rushing through the signing part to get you your loan and then slap you with the details after. There is no way I can afford to pay back the $1000 I borrowed. With interest and their pay structure it comes out to over $5,000 I’ll be paying back. Which they want $500 by December 2nd. It’s a total scam.
I'm in colorado. I'll hop on that lawsuit