Cash Yes - Internet lender www.cashyes.com Loan Sharking! Crooks! Rip consumers off in the worst way. Charge 4000% interest on short-term loans!! Internet

My credit was ruined due to the economy and I needed a short-term payday loan.  I borrowed $600 and expected to pay $800-900 total including fees for the loan.  After 3-4 months I noticed $900 in withdrawals for the loan, which I thought was acceptable.  I did not expect to see any more debits.  Debits occurred every two weeks, not monthly so I was paying back $350 per month.  When the debits totalled $1150, I called the company to ask why they were still debiting money from my account.  They informed me that the first $600 were fees for the loan and did not reduce the principle.  The subsequent $187 payments were paying down the loan at $50 per month, this was after I had already been charged $900 or so.  I asked what my balance was and they told me the principal was $450 and they would charge one final fee of $125 to pay the loan in full.  So I ended up paying $1800 for a $600 loan that for a term of 3-4 months.  They are complete crooks!!  Stay far away from them.  I started to investigate their business and then noticed that they have all borrowers agree to mitigate instead of pursuing a class-action lawsuit.  Their process requires that you first arbitrate if you have any issues with their loan practices.  Beware of Cash Yes!  Be sure if you have started a loan, pay it off as soon as you can to avoid costly - in my opinion - loan sharking!!  They have several payment options but you never really understand them until you get burned, then it's too late.  They extend the loan as long as they can so they milk you for the maximum amount of money.  Very unfair and unethical practices.