Report: #1071733

Complaint Review: loanshop online

  • Submitted: Wed, July 31, 2013
  • Updated: Wed, July 31, 2013
  • Reported By: khowell — westerville Ohio
  • loanshop online
    2207 concord pike #505
    Wilmington, Delaware

loanshop online lied, overcharged me, took money out without approval Wilmington Delaware

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 I needed money for a down payment on a car so i applied for several online loans for $350.

Loanshop online called me to say i was approved and i just needed to answer a few questions and give my bank info. they would give me the money and i could pay it off in 3 days with no addt. charges or pay $105 each payday four times ($420 would be my ending balance.)

after they took $105 four times I thought i was in the clear. My next payday though they charged me $126!

I called and asked why this way. She said because the 1st four charges are ONLY interest, after that $105 is charged for interest and $26 is put towards my balance. So my current balance is $328.

So I have paid them $546 so far. My loan was for $350. I have paid $546, and i still owe $426 as of today.

I do not think i should have to pay this, but i do not know what my options are. I live in Ohio and it says the max interest they can charge me is 28% and only up to 31 days. it has been two months and I am paying way to much.

Does anyone know what my options are? They are going to take money out of my account this Friday and I really want to stop that before it happens. PLEASE HELP!

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This report was posted on Ripoff Report on 07/31/2013 10:25 AM 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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