american web loan ponta oklahoma they are a bunch of ripoff artists i got a 500.00 loam and after several months i noticed i still owed them 500.00 and then i put a stop payment on my acct Oklahoma Internet
American web loan is a complete ripoff they don't bother to tell you that the loan you take out is going to cost you somewhere around 1000.00 to 3000.00 they don't disclose that there intrest rate and fees do not go towards the loan and you have to pay extra to pay it off so in conclusion do not use this company if you want to keep your sanity.
2 Updates & Rebuttals
Beadwizard56
Stevensville,Maryland,
USA
American Web Loan ripp offs
#3General Comment
Sat, March 21, 2015
The same thing happened to my husband and I. These people are very evasive on the details of the loan you aply for.
There wasn't a contract per say but an explanation of the amount we were asking for and how it would be deducted from our checking account. For $400.00 it would be $120.00 every other week we thought until the $480.00 was met. We never saw an email stating our interest amount or that it would be 778%. Only after we called and asked this did they email a letter stating the interest after we had signed the electronic contract. Yes, we were not smart to do this. My husband said after he applied for the loan he recieved a phone call and told nothing about the interest charged if we didn't pay it off right away. She fast talked him and said the contract would be emailed to him and when he signed it the funds would arrive in our checking account. Well we couldn't pay it off right away and after $1120.00 and a few phone calls we were free from these scammers. Evasive, evasive, evasive!
FloridaNative
Palm Beach Gardens,Florida,
What does your written contract say?
#3Consumer Comment
Mon, November 10, 2014
You must have signed an agreement with the lender to get the funds. What are the terms and conditions of the agreement?
All lenders charge interest - at least here in the USA. What is the interest rate and terms in your contract? If you pay the interest due at the time of payment plus the principal balance due, then you won't have to pay the 'extra' that you claim in your report. The key here is to know your terms before you sign.
These payday loans are very, very expensive. You must have known that prior to signing their contract. Getting the money and then deciding to stop payment is deceitful on your part.