Ten Dollar Pay Day Loan / MTE Financial MTE Financial finance charge is too much, the payback is more than double what you borrow, they will not respond to e-mails or faxes. You can not speak with anyone at the numbers provided, they are automated. Internet
On July 30, 2007, I borrowed $300 from MTE Financial (Ten Dollar Payday Loan). I started to all add all the debits from my account and to my surprise, they debited my account for more than $900. I didn't realize this until last week when I balanced my checking account and once again they debited my account for a $400 loan that was taken out on February 21, 2008. They have already taken out close to $550 so far and when I go online and look at the chart it is confusing. I thought I would be paying back $520. Now my payoff is $455 by May 16th in order to avoid numerous finance and renew fees. I chose this option so I can get through with this but it will be hard. I have tried to contact them by e-mail twice and faxed them twice asking for a call back and have not yet heard from them. This is too much to repay on the amount I borrowed. Can they legally do this?
Cymon
Perry, Florida
U.S.A.