Robert
Wallingford,#2Consumer Comment
Thu, October 04, 2007
From you description of the debits, it sounds like the loan was auto renewing. The two $90 debits were for loan fees only ($30 per $100 loaned). None of it appears to have been applied to the loan amount of $300. It looks like that for some reason they took out the loan amount $300 plus the fee of $90. What's unusual is that these type of loan companies like to extend these type of loans out as long as possible. They end up collecting more in fees than the original loan amount. If you can get ahold of them, check to make sure that the loan is completely paid off now (it should be). It possible they may try to continue debiting your account. Speak with your bank to see if they can reject any debits coming from them in the future. Good luck.