I took out a loan with these guys, back in November 2012 for $400.00. The representative told me that the total loan payback was $480.00, with 4 payments of $120.00. The first 3 payments were made directly out my checking account, as expected. The 4th payment was returned, because that payment was posted at a different time as the other 3 (because of holidays etc.). Of course I was charged by my bank $29.00 NSF fee.
Just yesterday, April 1st, not only the last $120.00 payment came out, but they charged a "late fee" of $140.00 and took an additional $400.00 (The original loan amount) for a total of $660.00!
I called them and spoke with a representative named Octavia. After providing my information for verification, she told me this; since it was my first loan with them, & I missed on payment, they will charge $120.00 amount that is due, $140 "Late Fee" for NSF, & they take the entire loan amount borrowed & close that account!
When I asked, what happens to the other 3 payments of $120.00? She told me "the other payments that I made does not apply to the actual loan balance, it's just a fee we charge for the "monthly renewal of the original loan, until you pay the actual loan back, which is $400.00."
I highly recommend not to use these folks by any means! Yes, there are credible payday loan institutions out there, make sure you do your research first! Stay away from these guys! I'm going to report them not only to the Better Business Bureau, but to the Utah Department of Institutions as well, listed on their website, because Ezpayday Loan doesn't provide their address on any of their websites!