- Report: #925874
Complaint Review: US Fast Cash - Internet
Reported By:
K. Lynn -
New Bedford, Massachusetts, United States of America
Submitted:
Updated:
-
Author Confirmed
Why?
US Fast Cash
Internet, United States of America
Phone:
18006401295
Web:
www.usfastcash.com
Categories:
Business Rating:
(0)
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US Fast Cash Completely ripped me off, Internet
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I'm a single mother of a 2 year old and a 3 year old. During May of this year, I took out a $300 loan with this company to pay my rent. I knew what I was getting into with this sort of loan, however it was my only option. So the terms I agreed to was paying back $390, the $300 that I borrowed and the $90 fee associated with it.
I get paid bi-weekly so these are the transactions they have made in the past few months:
6/8/12 - $90
6/22/12 - $90
7/6/12 - $90
7/20/12 - $90
8/3/12 - $90
8/3/12 - $50 for a whooping grand total of $500
Needless to say I am pissed and yes it is my fault for not paying closer attention up until this point but come on now! Paying $500 for a $300 loan?! I've dealt with similar companies and they have NEVER charged me almost double of what I borrowed. They take their fee out and then they start taking their payments out accordingly.
The real kick in the a** is now that I got my login information for my account with them, they are saying that I still owe them $325 ...WTF. I attempted to call them but of course they are closed! I sent them a pretty nasty e-mail and I'm preparing for a war with this company. It's getting to the point that I am going to need a lawyer and I can't afford that. Has anyone had any success with them reimbursing you for over payment? This is complete and total bull sh*t.
I get paid bi-weekly so these are the transactions they have made in the past few months:
6/8/12 - $90
6/22/12 - $90
7/6/12 - $90
7/20/12 - $90
8/3/12 - $90
8/3/12 - $50 for a whooping grand total of $500
Needless to say I am pissed and yes it is my fault for not paying closer attention up until this point but come on now! Paying $500 for a $300 loan?! I've dealt with similar companies and they have NEVER charged me almost double of what I borrowed. They take their fee out and then they start taking their payments out accordingly.
The real kick in the a** is now that I got my login information for my account with them, they are saying that I still owe them $325 ...WTF. I attempted to call them but of course they are closed! I sent them a pretty nasty e-mail and I'm preparing for a war with this company. It's getting to the point that I am going to need a lawyer and I can't afford that. Has anyone had any success with them reimbursing you for over payment? This is complete and total bull sh*t.
2 Updates & Rebuttals
fastcashisbs
new bedford,Massachusetts,
United States of America
Contract Terms
#2Author of original report
Sun, August 12, 2012
Ok so yeah the contract is pretty long but here is the payment agreement part of it. I think I'm pretty much screwed. BUT they did make it sound like they were going to take the payment out on the date it was due (6/9/12) and I don't believe I received the terms until it was signed. I could be wrong though. What I don't get is why they weren't taking out the $50 every other week like it stated they would until it was paid. Perhaps I'm misreading it but it definitely looks like it states that.
I also didn't realize that I had to physically go online to arrange for them to remove their ACTUAL payments, as I said before I have dealt with these types of companies before and have never had this issue where I end up paying over double what I borrowed.
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MovingForward
Palm Beach Gardens,Florida,
USA
Do you have a copy of the contract to post?
#3Consumer Comment
Sun, August 12, 2012
If the copy of the entire contract is too big to post, just copy and paste the repayment terms here in the rebuttal section. If you had only a small fee to borrow this money, then it would be stated in the contract in the repayment terms. However, it is more likely there is a weekly fee that just covers the interest only for the period of the payment.
In order to reduce the amount paid out, you would need to make a lump sum payment of the entire principal due plus whatever outstanding interest payment or fee is due. I don't work for that company (or anything like that company) but that's how most of those subprime cash advance type loans work. The answer to your question is written right in the agreement you signed. Is it fair? No. The question you should ask is: Is the lender following the contract or not? if not, then you take the contract and your proof to court to get them to repay your overages plus whatever penalties the court will allow.
