- Report: #1338523
Complaint Review: Spotloan - Internet
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Author Confirmed
Why?
Spotloan
Internet, USA
Web:
www.spotloan.com
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Business Rating:
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Spotloan High interest loan for small loan scam Internet
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.
