ED Magedson – Founder
1800LOANMART15821 Ventura Blvd. Suite 185 Encino, California United States of America
1800LOANMART This Company takes advantage to people that are going thru hard times this should be illegal! Encino California
My husband had not worked in 5 years due to a back injury, we were about to loose everything, we got this loan and it was gone in 5 minutes paying a house payment. I have been paying on this loan for over a year and the laon ammount is higher then the amt I borrowed. I think it should be ILLEGAL for these rich peoplt to take advantage of people that are struggling and going thru hard time, there needs to be a set rate for interest to be charged by the Government.
I do not even drive this vehicle anymore but I have to caryy full coverage with a $500 deductible with made my insurance go up 100 dollars...I cannot beleive that the Government lets companies like this rip off people, that are having major financial problems to begin with and then it takes forever and a day to pay this loan off, yes I took the loan , I was desperate, I was loosing my home, BUT the interest rate of 99% should be ILLEGAL....they are taking advantage of people in need.
I would nlt even mind paying 38% interest and they would still make bank BUT 99% interest is totally WRONG and someone needs to step up and start a class action lawsuit to sue these people that are living in luxery because of all of us that were desperate and needed the money , signed the contract and now we are paying with our lives......we need the Attorney General to take over this company and apply interest rates that are reasonable, they can be high just NOT DOUBLE!!!
Shelly c Hidden VAlley Lake, California
This report was posted on Ripoff Report on 12/13/2008 12:36 PM and is a permanent record located here: http://www.ripoffreport.com/reports/1800loanmart/encino-california-91436/attorney-generals1800loanmart1800loanmart-this-company-take-c489ahtm-401018. 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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