Complaint Review: Global Financial Services

I took out a payday loan from Global Financial Services in December 2006. They started taking out payments of $35/bi-weekly from my account. I called in June of 2007 to checl on my remaining balance. I was told that it was $270. I thought ok, with interest and all that make sense. I was never told that in order to pay the loan off I had to pay it in full. They continued to take money out until February of 2008 when I put a stop hold on the payments. They called and harassed me. I finally called them back and was told that my balance was $235.

I informed them that they would not be getting anymore money from me, because by my calculations it should be made. I asked to speak to a supervisor and I was informed that if I did not pay it that they loan would continue to accrue and they would preceed with legal action. At least I lost my temper. Not only were they not in this country but after giving them well more than what I owed them, they were demanding even more money, making it well over $1100 for a $300 loan. They then offered to cut the loan down to $150 after a 15 minute scream fest on my part.

I agreed relunctantly to pay the $150 just so they would leave me alone and informed that what they were doing was illegal and immoral and that I would be looking into legal action. They told me it was my prerogative to due so, but it would cost me a lot more than paying the loan. I told them that was my business and I would be fighting to get all of my money over the $300 back.

Shelbyk
pleasanton, California
U.S.A.