• Report: #857745

Complaint Review: Plain Green Loans

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  • Submitted: Thu, March 22, 2012
  • Updated: Thu, March 22, 2012

  • Reported By: Jeanne — Holly Michigan United States of America
Plain Green Loans
Box Elder, Montana United States of America

Plain Green Loans It is charging me excessive penalties, why above what I agreed too. I originally received a 500.00 loan and now owe over 700.00. Tried to resolve but they refuse too and just keep upping my loans..Sho Box Elder, Montana

*Consumer Suggestion: What did you expect? Did you read the agreement?

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I took out a loan from them and agree to the interest rate. Now they are charging me way more than the orginal agreed upon rate through late fees. I took out a loan for 500.00 have repaid way over that and now they say I owe them 700.00 more, that is about a 1,300 loan...this should be against the law.  I tried to call and negotiate but they refuse to do anything.  I am in a horrible situation that I would never repeat.  Caution:  do not use plaingreen loans to get a loan... and if anyone can help me, I would appreciate it.

This report was posted on Ripoff Report on 03/22/2012 09:42 AM and is a permanent record located here: http://www.ripoffreport.com/r/Plain-Green-Loans/Box-Elder-Montana-59521/Plain-Green-Loans-It-is-charging-me-excessive-penalties-why-above-what-I-agreed-too-I-o-857745. 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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#1 Consumer Suggestion

What did you expect? Did you read the agreement?

AUTHOR: vlad469 - ()

It says right on their website that late payments will cause increased interest to accrue. Do you expect them to not charge you for being late? The terms are spelled out VERY clearly in the loan agreement. I agree, they charge a ridiculous rate, but they don't hide anything from the consumer. I'm not thrilled with the 324% interest either, which is why I have never been late with a payment, and paid towards the principle early to lower the interest and shorten the loan term.

If you pay late, they WILL charge additional interest fees. It's all spelled out clearly in the agreement. Nothing is hidden. The longer you wait to pay, the larger those fees will get to be as well.

Also, nothing is stopping you from just paying the whole loan off now, and avoiding all future interest payments, which is what they even suggest people do on their website.
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