- Report: #679540
Report - Rebuttal - Arbitrate
Complaint Review: 500FASTCASH
500FASTCASHInternet United States of America
500FASTCASH Contract says amount financed $300.00. Annual percentage rate 405.56%.1 payment due next month of $390.00. took 4 payments next four months optioned of $90.00 per month the next four months. Then debi, Internet
*Consumer Suggestion: Unfortunately, that's how these companies work
*Author of original report: Correct Payments Taken
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This is copy of finance terms:Your Payment Schedule will be: 1 payment of $390.00 due on 2010-08-03 , if you decline* the option of renewing your loan. If your pay date falls on a weekend or holiday and you have direct deposit, your account will be debited on the business day prior to your normal pay date. If renewal is accepted you will pay the finance charge of $90.00 only, on 2010-08-03 You will accrue new finance charges with every renewal of your loan. On the due date resulting from a fourth renewal and every renewal due date thereafter, your loan must be paid down by $50.00. This means your Account will be debited the finance charge plus $50.00 on the due date. This will continue until your loan is paid in full. *To decline the option of renewal, you must select your payment options using the Account Summary link sent to your email at least three business days before your loan is due. Security: The loan is unsecured.
500fastcash instead debited $90.00 the first four months, then November debited two payments amounting to $145.00, then December debited two payments all togwether amounting to $145.00, then January 2011 two payments all together amounting to $125.00, then February they plan to debit two payments all together amounting to $110. Then in march they plan to debit two payments amounting to $110.
This aggreement also stated they were only taking payments four months. That is all that is stated. They took two family members names and numbers for references but i imagine that me putting a stop to this could cause suffering for family members.
I am on disability. I am so sorry I accepted this. i never imagined it would be this extremem.I am finding other companies taking extreme measures over the top with customers other than agreed. I am stopping this with my bank. i do not have money to give away.
This report was posted on Ripoff Report on 01/06/2011 12:21 PM and is a permanent record located here: http://www.ripoffreport.com/r/500FASTCASH/internet/500FASTCASH-Contract-says-amount-financed-30000-Annual-percentage-rate-405561-payme-679540. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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