Complaint Review: Multi loan Service - Internet
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- Author Not Confirmed
- Multi loan Service Internet USA
- Phone: (800) 557-9038
- Web: https://MultiLoanSource.net
- Category: Loans
Multi loan Service Glorified Loan Sharks, Take advantage of the financially desperate Ukiah CA
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This company showed up on the pay day loans and called the loans they gave "intallment Loans". When in reality it a loan which you pay over 400 percent interest rate. They have pushy sales persons who make it seem like an short term loan with affordable payments. My payments are $135.00 for a $450.00 loan. That seemed fair to me.
The reality is that the $135 is not repayment on the loan it is the amount of interest you pay in a month. In addition to that the principal balance increases byt that amount for the first 3 months. Therefor by the time you begn to pay on the principal the loan is over twice as much as you borrowed. In the following months you will continue to pay the amount with only a minimal amount going to the principal, the rest is additional interest.
Do not apply for loans and support this on line loan sharking. The are taking advantage of people with poor credit and causing them to become further in debt.
This report was posted on Ripoff Report on 02/16/2015 03:08 AM and is a permanent record located here: https://www.ripoffreport.com/reports/multi-loan-service/internet/multi-loan-service-glorified-loan-sharks-take-advantage-of-the-financially-desperate-u-1209369. 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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