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GECC Payday Loan / Overpay

1 United States Review updated:

I paid them the Finance Fee but then had to close my checking account because of severe fraudulent activities on the account. Now they are charging me NSF Fees everytime they try to take money out of my old account. I told them I had to close the account but they won't take my word for it they want information from the bank and the bank won't give it to them. Why am I being punished when I was up front with them and told them the account had to be clsoed.

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Li
  26th of Feb, 2010
Agree Disagree 0 Votes

All payday loans are a rip off. I paid for A GECC loan of $400 & paid back $767.53. They will keep taking money out of your account for a service fee every pay check until you contact them by phone & get a confirmation that they will pay the balance out of your next pay check. If you don't pay the balance which will still be more than you borrowed, they will just continue to take service fees out of your account. This is the way they all work not just GECC. It should be illegal, but apparently it is not. It is a big money maker for these payday loan companies. Just don't do it is my advice to all, suffer & wait until your next pay check or all you will be doing for each paycheck is paying back the loan & you won't have any money.

Li
  26th of Feb, 2010
Agree Disagree 0 Votes

Loan Sharks are not gone they are now called PAYDAY loan companies. However, tempting it might be or however much you think you might need it, you don't. JUST wait for your pay check & forget payday loans they are a racket and will do nothing for you but put you in more debt that you can't get out of.

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