CashToday, Cash2day4u Charged me over 1000% interest since Novemeber 2005 London Other

Have they done anything that their contract did not disclose? If not, where's the rip-off?

The rip-off is that they are doing business illegaly in the state and charging a exorbitant amount of ineterest to the customer. They prey on people who are desperate. When I called to make them aware that they have received above and beyond what I owe them, they still disagreed with me. There are many complaints filed against this company which operates under so many names that it's very hard to actually find the correct person to speak with. There is no "contract" per se, they record your voice saying you will pay them back on certain dates, which I have and they still continued to take money from my bank account.

The root cause of all the complaints regarding the high interest fees regarding payday advance companies is that the customers are not able to payoff their short-term loans and thus they perpetuate the loans and thus they continue paying the high fees. If the consumers cannot borrow from their credit cards, family or friends, they should try to get a second job.

My advice is to try to maintain a good credit history so you can borrow via cash advances from your credit card if the cash advance rate is low. I have borrowed $3,000 to $4,000 on many occasions, 4.5% - 8.25% APR (same rate for purchases and cash advances), via a "prime rate for life" visa card, and I have paid back all of my cash advances. By the way, in case you want to know, my special prime rate card which I have had for twelve years, is rare and you cannot even get the card from my credit card company which is one of the largest card issuers in the country.