Complaint Review: CashNetUSA

I applied for a loan at Cashnetusa.com. I received an email from Mr. Kevin Johnson indicating that my loan was approved and a list of options on how I could repay my loan. He called me and said I was approved for up to 7,000.00.

I agreed to 3,000.00 loan. He said I had to go to the CVS and purchase a greendot money pak card and put 10% of the loan amount on the card to verify I had funds to afford the loan and I repeatedly asked him why and that it didn't sound legitimate. He said because they were not allowed to verify funds on my bank account. He stated that once they verified the funds my loan would be funded with an hour and I would see it in my bank account.

I did as instructed and of course no loan! When I called back to tell them I didn't want the loan, they took my 300.00 and laughed at me and said it was gone. If I wanted it back I would have to put another 230.00 money pak card to get my 300.00 back. I have pasted the approval letter they sent me.

 Hello  Tamara,

Thank you for showing your interest in the Loan with our company FASTCASH and this is the confirmation e-mail to let you know that the loan application you applied for has been approved.

Your loan has been approved for the maximum of $6000 and the minimum is $1000, and your Loan Account Number is SB0110547

Please call us back on our number or reply to this e-mail so that we can call you and explain you the terms and condition of this loan.

Also we have mentioned below the monthly installment plan for the loan of amount from which you can choose any of the following you are comfortable with and you can pay up your loan back with easy monthly installments.

For $2000 Loan, Total Pay back $2190, Monthly Installment $ 91.25  for 24 Months
For $2000 Loan, Total Pay back $2190, Monthly Installment $121.66 for 18 Months
For $2000 Loan, Total Pay back $2190, Monthly Installment $182.50 for 12 Months
For $2000 Loan, Total Pay back $2190, Monthly Installment $219.00 for 10 Months

To know more about monthly installment plans for this loan amount please call us back on the number below.

Furthermore, we would like to share that once the loan is transferred into your account the first monthly installment will be due within the first 30 days on the date you will give the authorization for.