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  • Report:  #1338523

Complaint Review: Spotloan

Spotloan High interest loan for small loan scam Internet

  • Reported By:
    Lmp124 — Voorhees New Jersey USA
  • Submitted:
    Thu, November 17, 2016
  • Updated:
    Thu, November 17, 2016

 This website gives small loans, however they have an extremely high interest rate, so it takes forever to pay off any loan, and a small loan costs way more then it's principal. I read the small print on the website and I saw in very very tiny print after I had received my loan that this was one of those Native American loan things and I saw something about 450%. When I contacted the company about paying the whole thing off, they scheduled it, but then I had an issue where I could not obtain the money because a delay with transferring money in my bank. I contacted them, asking for a few more days to pay off the loan early, and asked if I could just go ahead with my regularly scheduled payment. They said we need 2 days notice for anything. I gave them notice the day before. All correspondence after that was ignored by them. They ignored me a lot. Terrible customer service and really deceiving terms that are very small on the website and hard to read.

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