Report: #334817

Complaint Review:

  • Submitted: Sun, May 25, 2008
  • Updated: Thu, May 14, 2009
  • Reported By: angier North Carolina
  • Phone:
  • Web:
  • Category: Loans

Show customers why they should trust your business over your competitors...

This company caims to have the lowest fees on the internet. They do to start with, then they start jacking them up and end up being the most expensive. If you extend your loan you end up paying several times more than you borrowed. They also claim that you can pay down each month by $50 and then they change it to $100 plus an outragous interest fee. My advice is to find another company to borrow from. There are others out there that are not so underhanded.

angier, North Carolina
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This report was posted on Ripoff Report on 05/25/2008 09:18 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 UPDATE Employee

AUTHOR: Believeit - (U.S.A.)

mycashnow, paydaymax, discountadvances, paydayspot, credit protection depotmycashnow, paydaymax, discountadvances, paydayspot, credit protection depot, supportseven, basenine, logic marketing, and accountpros

for those of you who can never seem to pin this company down its main office is located at 5962 brainerd rd, chattanooga tn. and also has one office in costa rica. if you read the web agreement, its states they are located in grenada, antiqua, and other offshore spots.....not true. they do however funnel all funds to and from customers thru a bank in panama.

the credit protection depot is the collection agency who tries to recover funds. by law since they are listed out of the country, u only need pay the principal balance. the only way to keep this company from debiting ur acct is to call in, and chg ur bank acct # or to close the acct all together w ur bank, u should also chg ur reference ph #s bc they will call them.

this company is made to seem very large and hard to find. when infact they operate from an unmarked building beside a biglots in chattanooga. there are less than 30 people who take calls from all 4 companies, mycashnow, paydaymax, discountadvances, and paydayspot.

sitting less than 10 feet away are the people who work for the collections department for all 4 payday loan companies. there are only about 20 of them.

these people can only read scripts given to them verbatim off proprietary software. they are not allowed to give any other info. the company is so secretive that when the employees go next door to the biglots or a restaurant, they arent supposed to say what kind of work they do.

because of lawsuits, these payday loan companies dont operate in 13 of the 50 states and even had to move their location in reno, nevada to costa rica last summer.

also you should know they dont lend to people on any type of disability, self employment or military personnell. so if ur denied for that reason, its not because you have bad information, its just because they dont want to lend to you.

also you should know that if you dont pay, you will be reported to teletrack which is system for companies who dont do credit checks, but it wont affect your credit AT ALL. and no legal action will be taken against you, no matter what they say, they'll just note ur acct so that you cant apply anymore.

any other questions? feel free to post.
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#2 Consumer Comment

Stop using anything over the internet!!!!

AUTHOR: Tmm33 - (U.S.A.)

Stop using anything over the internet!!!! Get something in writing, meet face to face , record them or something. I am sorry for your unfortunate experience but only people, like us can stop these guys.
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