Complaint Review: Ameriloan - Internet

I never understood about pay day loans until it was too late: I am now sick to my stomach and have paid back more money than was loaned to me, I am now behind on my bills which my credit was finally improving and I had to call the Attorney Generals office and I had to embarass myself with the bank manager to stop these horrible tactics: Please undersatnd Ameriloan,United loan, they basically all work together: they loan you 200 to start,than they offer you another 200, the "TREADMILL" that Western Sky advertises on their commercial is not a treadmill,it is "Extortion"
for every 200 you borrow it cost 60 dollars ,than 2 weeks later they take 60 out of your paycheck so now you received 140 and the next time they take another 60: "This goes on and on and on"
"
I learned the hard way,Thers no getting off the treadmill,no matter how desparate you are,don't fall prey read Ed Magedsons reports on these predators, pay day loans are illegal in New Jersy,New York. Interest rates allowed in New Jeresy 30% cap and that is yearly on a small loan.
I was advised by the Attorney Generals office I only have to pay what I borrowed since they are illegal In New Jersey.

I have overpaid on at laest 3 of these loans,I feel so stupid, I was fortunante enough to come across an excellent Bank manager, in the worst of times he helped me.
For anyone involved in this treacherous demeaning scam: Don't borrow any more from Pay day loan
lenders,before they eat your paycheck away: You may have to close your account and make pay arrangements with the pay day lenders: Keeep in mind the most interest they can charge is 30% yearly on a small loan, do not let your account go to a negative balance ,the bank frowns on this.
There is "Publication E" which explians the Ach tranactions are fraud.

Send emails to all Pay day loan lenders you are only obligated to pay them what you borrowed,we are protected by these laws.  
You most likely will need pay arrangements since they "Gulped all your money " week after week after week.
Be careful,they all work together,some of the Pay day lenders will actually wait till later in the day to deposit your money,so the other pay day lenders can get paid.

Shame on us for being weak,in my case it was xmas time and I was in that" Holiday Spirit " guess what? I was still paying on December and January loans in April!!!
Our President,Barack Obama has hired a task force to stop this: Please don't get caught in the trap:
Reach out to a relative or expalin to your bank what is going on ,The Sooner the Better>

Ed and staff thank you for letting us reveal the facts about this scam: I am grateful for the internet ,too late for me,I was scammed but in these times we are not alone: We all have to stick together and help one another, Lets pray  to God things get better.

I hope these pay day loans stop soon: Read the reports ,they are destroying the poor,not helping,
last but not least: God Bless America and our sincere appreaciation and gratitude for Ripoff and the First Amendent.


Ed,I thank you so much along with your staff: You are the best sight for the American Consumers.