ED Magedson – Founder
MobiloansMarksville, Louisiana USA
Mobiloans is Nothing More Than Online Loan Sharks-They Are Not Good People Marksville Louisiana
I needed cash back in April and I happened to get an email from Mobiloans about how I was preapproved for 1250.00. I read the website but apparently I misunderstood that I would be paying 3 times the amount for a 520.00 loan. There is a repay chart but it really doesn't let you understand their exhorbitant interest amounts. They have been taking money out of my checking account now every paycheck since the beginning of May. That is every two weeks. I have made 12 payments so far or 888.00 for a 520.00 loan and I spoke to someone this morning who said I still have 8-10 payments of approximately 60.00 left even though my balance is 285.00 !!! I don't know why they couldn't tell me exactly how many more but they couldn't.
I decided that I have had it. I am having a hard time making ends meet which is why I took a loan out in the first place so my reason for calling this morning was to ask if I could pay the rest once a month. They said yes but it would be two payments at once which would defeat the purpose of what I was asking for. I told them I was trying to work WITH them but they were keeping me from paying other pills. They said they had to do it this way because they just 'had' to. No particular reason. So for the time being I told them to extend my payments to one month from now.
I plan on closing my checking account and debit card associated with it even though it will be a lot of work for me. Credit card companies work with you. Student loan companies work with you but not Mobiloans! They are greedy horrible people and yes...the whole thing is a huge rip-off. Don't borrow from them unless you can afford to pay them back in one lump sum or you will be really sorry you did.
This report was posted on Ripoff Report on 10/12/2013 09:51 AM and is a permanent record located here: http://www.ripoffreport.com/reports/mobiloans/marksville-louisiana-71351/nbspmobiloans-is-nothing-more-than-online-loan-sharks-they-are-not-good-people-marksvill-1091474. 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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