First off, we attempted to take this loan out with the full intention of paying it off early and ahead of schedule. We were told to contact them regarding our terms. Upon contacting plaingreenloans to submit a bank statement, we were told we were approved and would be paying a 59% interest rate. We are trying to build up our credit and agreed to this. After making several payments on-time, and as agreed, we found out the loan company was not charging us the afformentioned amount, but yet 359%! This was never agreed to. We even confirmed the percentage with the operator and she agreed when we said 59%. As my understanding of loans goes, this is loan sharking.
I also thought because it was illegal to charge over 60% for a loan, that 59% would be the highest they could charge. We would have NEVER EVER agreed on this loan if it was that much. This was supposed to be a nice way to get a cash advance for unexpected repairs, and also to build up credit at the same time. This loan is in one person's name but I am helping with managing it now as also I was the original one who recommended this. Now, the actual loan company, after only missing one payment, AND after trying to work something out with them which they declined to do, they weren't even interested in working things out with us, now they are making harassing calls to our employer.
I will be sending a certified letter to these people telling them its NOT OKAY to contact me at work. They have our cell number but still insist on contacting us at work to either shame us into paying or to embarrass us in some way otherwise they can simply call our phone. We also spoke with them and told them we would not pay for this loan as we were lied to about our rate. They do not care, they have stated that this is not loan sharking, and they have also stated that it was a miscommunication on their part. Why we should be liable for a miscommunication is beyond me. If you are an attourney and want to contact me, please feel free to do so as any help is welcome and appreciated. I've also noted in the profile that its OKAY for attorneys to contact me.