Just Me
Somewhere,#2Consumer Comment
Fri, May 25, 2007
Stop blaming the companies who lend and start blaming yourself because you are the one who took out the loan. You came to them, not the other way around. Regardless of desperation, if you think it's so bad don't do it to begin with. it's so irritating how everyone is first to blame someone else. Yeah they have high interest rates. So? You were fully aware of that. and if it weren't legal they wouldn't be allowed to practice such business. Sorry you're mad you had to pay so much but that's your deal. they must not be too bad because they were there for you when you needed them.
Rodney
Indianapolis,#3Consumer Comment
Tue, May 01, 2007
So what happend..,..
Mike
Radford,#4Consumer Suggestion
Thu, October 26, 2006
You should have the right to pay the principal balance at any time and be done with the loan. The balance will be $615 or less. Try to borrow the money from a friend or family member. Or if you want to sell the car you can have the buyer pay off the loan for you as part of the deal. In any case, pay more than $200 per month, a lot more.
Steve
Bradenton,#5Consumer Suggestion
Thu, October 26, 2006
Latasha, That is outrageous! You need to just take all of that information to the DA's Office for prosecution. Also, see if one of the TV NEWS Investigative teams would be interested, as well as whomever regulates business there. I think I might just let them have the title! Make them sue you for the possession of the car, and let them explain that kind of interest to a judge! I would love to see that! Good luck, and thanks for the extra info.
Latasha
indianapolis,#6Author of original report
Wed, October 25, 2006
hi steve i got your message and i promise you it's true i wish there was a way i could show it to you and i really miss counted it really is 372.0% and that is what i'm trying to do find is there a law against this.but to show u what i mean i borrowed $615.00 and i have to pay $2,381.02 back inorder to get my title back at $200.00 a month that's a new car.if anyone out there know what i can do about this please feel free to let me know. THANK YOU
Steve
Bradenton,#7Consumer Comment
Wed, October 25, 2006
Are you serious? 300% Interest? I doubt it. An interest rate is usually based on an APR which means 300% interest would be 25% on the unpaid balance per month or 5.77% per week interest on the unpaid balance. I think your state banking commission needs to know about this as they would clearly shut this operation down and make some arrests. I would be interested in seeing the real numbers.