• Report: #1048733
Complaint Review:

500 Fast Cash

  • Submitted: Mon, May 06, 2013
  • Updated: Mon, May 06, 2013

  • Reported By: Charles C — DENISON Texas
500 Fast Cash
515 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

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 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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