CASH ADVANCE NETWORK RIPOFF ALBUQUERQUE New Mexico
I have been dealing with Cash Advance for a while. In July, 2004, I took out a $200.00 loan with the understanding as before I would pay them back $250.00 on my next payday. They took it out automat. I started having trouble with cks. bouncing and went to the bank to check my account. I thought these people had taken their and was paid. These people was removing money from my account every week. It added up to over $500.00. I had to change my checking account and bank went after them for their money. They finally contacted me and said ", I owed them $610.00 and got a collection agency on me. The contract that was faxed to me was not readable and I thought it was the same we had always agreeded to not knowing they changed it, where they could remove monies from your account every week some amount up to $250. This is not right and these should be exposed for dishonesty. Thanks.
Loretta
Baltimore, Maryland
U.S.A.
2 Updates & Rebuttals
Tim
Oklahoma City,Oklahoma,
U.S.A.
The extra money they take out is called the "finance charge" from what I understand.
#3Consumer Suggestion
Mon, March 28, 2005
If you don't request to pay the loan in full by fax, they will continually take out $50 per cycle as a reoccurring finance charge. This is basically just a fee if you do not request to pay the loan off in full. Even if you pay a partial amount of the loan, they will still charge that finance fee each cycle. I have done business through this company and others as well. It's great if you are strapped for cash and can repay within the next month or two. Just thought I'd let you guys know. Each loan company has different and their terms are not always the same.
Take care all.
Bob
Quinlan,Texas,
U.S.A.
When you deal with sharks - expect to get bitten.
#3Consumer Suggestion
Mon, March 28, 2005
Old saying, when you grab a shark by the tail, better have a plan for it's teeth.