• Report: #922856
Complaint Review:


  • Submitted: Sun, August 05, 2012
  • Updated: Sun, August 05, 2012

  • Reported By: Bobby — Jourdanton Texas United States of America
Internet United States of America

500FastCash Made the automatic payments of $60.00 every two weeks, balance remains the same, Internet

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500FastCash, owned and operated by Red Cedar Services, Inc., is merely a scam. Sure, they loan you the money you request, in my case $200.00, and yes, you get it in the 24 hours advertised. The ripoff starts when you start repayment. First, you can't pay when you choose to, they automatically withdraw the money from your bank account or charge the credit card you provide them on the due date. You can't choose to pay before, there is no option on the site.

 Also, if you just are paying what they say the payment is, you'll be paying forever because, get this, though you make the payment, the balance stays the SAME! In order to get it down, and I'm not even sure this works, you have to go on the site and select to make a PayDown on your principal, but that just adds more money in addition to what is already owed. In order to not get ripped off, you would have to pay the loan back immediately after getting it, which if that were possible you wouldn't need it in the first place!

This report was posted on Ripoff Report on 08/05/2012 03:51 PM and is a permanent record located here: http://www.ripoffreport.com/reports/500fastcash/internet/500fastcash-made-the-automatic-payments-of-6000-every-two-weeks-balance-remains-the-sa-922856. 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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