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Little Loan Shoppe / Scam and stealing

1 United States Review updated:
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I took out a $300 loan from the Little Loan Shoppe with a interest fee of $90. Pretty high but I needed a pay advance. I told them when I get my pay check but then added that the check does not clear for 3-5 business days. They said they take that into account. I should have asked more questions but I thought they were reputable. So they started to take the money out on the day the check arrived not on the date we agreed upon so that they could charge me $80 late fee ($20 for not having the money and &60 for being late. Not to mention the bank charge me $35)

I have been fighting with them to waive over $200 because it seems that every time I set a date they withdraw before hand so they can get a late fee. My $300 loan is now $620!!! And I can't get them to settle so every 2 weeks they keep hitting my account.

Well, I closed my account and current am fighting them to waive the fees since they were not authorized to take the money out on those days, what do I do?

Va
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Comments

  • Pa
      27th of May, 2009
    0 Votes

    I guess I was really listening when I got my loan. I set it up to pay it off on the first due date and that's exactly what happened - and I've reloaned with them since and everything went smooth as glass - my question for the readers here is how are their loans any different from your home mortgage - except at least with them you do pay some each time toward your principle - in my case I just pay it off right away and reloan - that's the least expensive approach - bottom line if you borrow it will cost you so ask lots of questions and stay in contact and know how the loan works - in the Little Loan Shoppe's case - the longer you have the loan the more you pay - which is exactly how most loans work.

  • Ka
      9th of Jun, 2009
    -1 Votes

    I feel your pain. I had a 350 pay day loan that I took out in February and it is now june. They take out 105 every two weeks. Well I have not closed my account yet, but on my next pay period I plan to withdraw the funds from my account before 9:00 a.m and close out later that morning. I already have another bank account open to start fresh. i hate the pay day loan. After reading what you were saying about late fees I can truly understand your frustration.

  • Fa
      20th of Apr, 2010
    0 Votes

    I am glad I am not the only one they called me and are filing charges against me for stealing or something. They aren't cool at all. They are from India and can't speak English very well. They told me they were going to make me lose my job and I said lets settle this and you tell me how much is owed and I will take caare of it and he told me no I was going to jail. Everytime I called they kept hanging up. I would like to know where to file a acomplaint against. I was looking for a loan and filled out several applications and I didn't even realize that they had deposited money inato my account. So I would like to file a complaint against them.
    THEY THREATED ME I TRIED TO TALK AND WORK OUT SOMETHING BUT HISMAN WAS VERY VERY MEAN AND HE KEPT HANGING UP ON ME TELLING ME I WAS GOING TO JAIL. THEY AHD NEVER TRIED TO TAKE MONEY OUT. I DIDN'T REALLY EVEN KNOW UNTIL THEY CALLED ME AT WORK THAT THEY HAD PUT MONEY INTO MY ACCOUNT. I HAD PUT AN APPLICATION IN ON SEVERAL SITES. SO WHEN THEY CALLED I CALLED MY BANKAND THEY TOLD ME THEY AHD NOT MADE A DEBIT TRANSACTION. BUT I DID CALL AND TRY TO RESOLVE IT AND HE SAID NO GOOD LUCK YOU ARE GOING TO PRISON. WHAT??????????????????? HE ASKED ME A LOT OF QUESTIONS AND WHEN I DIDN'T ANSWER AND STARTED ASKING HIM QUESTIONS HE HUNG UP. THEY NEED TO BE OUT OF BUSINESS AND DEPORTED BACK WHERE THEY CAME FROM IF THEY ARE GOING TO TREAT PEOPLE THAT WAY.

  • Gd
      27th of Sep, 2010
    0 Votes

    We have just started dealing with LLS the last couple weeks. They are claiming a loan originated in 2008 never was paid and they are now attempting to collect. I have documents that support a payoff. It sounds like a scam to me. I also found a story that LLS has filed for bankruptcy protection and that the owner is alleged to be running a Ponzi Scheme through LLS.

    Faith, if they are threatening You over the phone in any way, that is against the laws covering Payday loans in just about every state. I would check the laws in your state just to make sure. Also included in that law is the inability of any payday loan company to take you to court over the debt OR to say that you will be going to prison. Payday loans are unsecured, and therefore those actions cannot be taken.

    I had a problem like this several months ago. Someone called and said that I owed them money on a payday loan that I know I paid off. I told them to send me the original loan docs and I would review and get back to them. When the dude on the phone told me they could not send me those docs, I told him that until I receive them I had nothing else to discuss with him, and hung up. Have not heard from him since.

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