- Report: #1130752
Report - Rebuttal - Arbitrate
Complaint Review: Cardiff Financial
Cardiff FinancialDel Mar, California USA
Cardiff Financial Leasing Bank of Cardiff They are attempting to loan money at an illegal interest rate. Del Mar California
*Author of original report: Addendum to my report
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Cardiff Finance and leasing Bank of Cardiff representatives are attempting to loan money at rates that are astronomical and probably illegal. I worked with them on a loan for my company and after paying fees for them to research my background, I was provided a proposal to borrow $25,000 with a 12 month payback. I was to pay on the loan every working day of the week using 252 weekday payments (Yes, a payment every working day) That totalled a repayment of $35,249.76. That is an interest payment over the term of the loan of $10,249.76 to borrow $25,000.
They were initially discussing a 7% interst rate for 3-5 years, and then explained when they made the proposal that the rate discussion was just an example of the total interst that I would be paying, but i would be paying it back in a shorter period (12 months).
This report was posted on Ripoff Report on 03/14/2014 04:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/Cardiff-Financial/Del-Mar-California-92014-2562/Cardiff-Financial-Leasing-Bank-of-Cardiff-They-are-attempting-to-loan-money-at-an-illegal-1130752. 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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