• Report: #434985

Complaint Review: Allied Cash Advance

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  • Submitted: Tue, March 17, 2009
  • Updated: Fri, October 07, 2011

  • Reported By:Fredericksburg Virginia
Allied Cash Advance
3822 Jefferson Davis Highway Fredericksburg, Virginia U.S.A.

Allied Cash Advance LOAN SHARK FEES... LEFT PAYDAY TO SHORT TERM LOANS AT RIDICULOUS FEES Fredericksburg Virginia

*Consumer Comment: Sad but true...

*Consumer Suggestion: personal responsibility

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These payday companies are out of control. This particular lender realized Virginia was on to them about payday loans and now they offer long term loans. But at what cost? I got a 1000 dollar loan and never realized the fee for being a day late. I was a day late and had my wife go in the day after the due date to pay the minimum payment. Since I work two full time jobs I did not have the time.

Well, the payment was made but I received a letter from them stating I owed 600 bucks in late fees. I was schocked and couldn't believe it. Well, as it turns out, they if you are a day late they charage you 30% of the balance of the loan. But wait there is more, they also charge for the current month and the next month. So you are charged 60%. In my case I was charged 600 bucks for being late on a 30 dollar payment. And I was only one day late. And that was because the due dates are never the same date. The date changes month to month.

Please be aware..This needs to stop...

Mo
Fredericksburg, Virginia
U.S.A.

This report was posted on Ripoff Report on 03/17/2009 04:09 AM and is a permanent record located here: http://www.ripoffreport.com/r/Allied-Cash-Advance/Fredericksburg-Virginia-22408/Allied-Cash-Advance-LOAN-SHARK-FEES-LEFT-PAYDAY-TO-SHORT-TERM-LOANS-AT-RIDICULOUS-FEES-434985. 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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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
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#1 Consumer Comment

Sad but true...

AUTHOR: Erica - (U.S.A.)

Unfortunately, this company has in the contract, for me it's a 15 dollar late fee. At one point, I was paying 15$ each day I was late. Now, supposedly, there is a 4 day grace period to be late. I was also told (and it is in the contract) that a certain percentage of my payment goes to the principle. I was told yesterday that my  bill ONLY contains the interest due. That I never pay anything against the principle. So, yes, Allied Cash does rip people off. It's sad they can't abide by their own contracts!!!
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#2 Consumer Suggestion

personal responsibility

AUTHOR: Sylver8248 - (U.S.A.)

Mo, I am not in agreement with what these companies are doing to hardworking people. But, when you take out ANY type of loan, you have a responsibility to be informed about the contract you are opting into.

Saying that you didn't realize what the late fee was, or how much interest you were paying...or that you didnt "have time" to make your payment because you have 2 jobs, is irresponsible.

The rip-off, in this situation, is the fact that these companies exist, not your personal issue with the company itself. You signed an agreement, and unfortunately, have to pay(literally), the consequences.
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