ED Magedson – Founder
500 Fast Cash515 G SE Miami, Oklahoma USA
500 Fast Cash I borrowed $400 from this company on Jan. of this year, I have paid $880 on this amount. Today I talked to them on the telephone and they informed me that I owed them $350. Miami Oklahoma
I borrowed $400 at the first of the year from 500 Fast Cash. My understanding was that they would take the amount that I owed to them over a period 3-4 months. Today I was informed that the payments tht I have made to them are simply a finance charge. This leaves me a balance of $350. This is a crazy amount of interest that they have assessed on this loan. I need help/advice on this matter.
In other words I have already paid them $880 on a $400 loan. This should be illegal. I need some help/direction here. Please get back with me with some advice/help. This is so unfail--basically I am paying to them not only the amount borrowed but the said same amount in interest. These transactions were done over the internet. I never signed a hard copy that I would pay this incredible interest. Further, I never signed a hard copy for the "loan".
This report was posted on Ripoff Report on 05/06/2013 09:49 AM and is a permanent record located here: http://www.ripoffreport.com/reports/500-fast-cash/miami-oklahoma-74354/500-fast-cash-i-borrowed-400-from-this-company-on-jan-of-this-year-i-have-paid-880-o-1048733. 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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