• Report: #760249

Complaint Review: CashnetUSA

  • Submitted: Wed, August 03, 2011
  • Updated: Wed, August 03, 2011

  • Reported By: Kansan — Haysville Kansas United States of America
200 West Jackson, Suite 2400 Internet United States of America

CashnetUSA Kansas line of credit product Chicago, Internet

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I would not recommend those living in Kansas to use CashnetUSA and the line of credit product they are now offering instead of payday loans. On a $500 loan I've paid between $77 and $98 for interest each month. I've made three payments and my balance is only down to $410. My first payment was $221.57, next was $206.73, and most recent $168.30. I've already paid more than the original loan amount and only reduced the loan amount by $90. Most payday places charge $75 for a $500 loan.

What I don't understand is why Kansans are being told CashnetUSA can no longer offer payday loans in Kansas. I was given the impression by Cashnet that Kansas laws had changed but there are still other payday loan companies offering payday loans in Kansas. The only change seems to be that CashnetUSA can charge way more interest with this product than they can on payday loans. There is no advantage if you're a Kansan to use this product, go elsewhere.

This report was posted on Ripoff Report on 08/03/2011 09:25 AM and is a permanent record located here: http://www.ripoffreport.com/r/CashnetUSA/internet/CashnetUSA-Kansas-line-of-credit-product-Chicago-Internet-760249. 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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