• Report: #925874
Complaint Review:

US Fast Cash

  • Submitted: Sat, August 11, 2012
  • Updated: Sun, August 12, 2012

  • Reported By: K. Lynn — New Bedford Massachusetts United States of America
US Fast Cash
Internet United States of America

US Fast Cash Completely ripped me off, Internet

*Author of original report: Contract Terms

*Consumer Comment: Do you have a copy of the contract to post?

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I'm a single mother of a 2 year old and a 3 year old. During May of this year, I took out a $300 loan with this company to pay my rent. I knew what I was getting into with this sort of loan, however it was my only option. So the terms I agreed to was paying back $390, the $300 that I borrowed and the $90 fee associated with it.

I get paid bi-weekly so these are the transactions they have made in the past few months:
6/8/12 - $90
6/22/12 - $90
7/6/12 - $90
7/20/12 - $90
8/3/12 - $90
8/3/12 - $50 for a whooping grand total of $500

Needless to say I am pissed and yes it is my fault for not paying closer attention up until this point but come on now! Paying $500 for a $300 loan?! I've dealt with similar companies and they have NEVER charged me almost double of what I borrowed. They take their fee out and then they start taking their payments out accordingly. . [continued below]....

The real kick in the a** is now that I got my login information for my account with them, they are saying that I still owe them $325 ...WTF. I attempted to call them but of course they are closed! I sent them a pretty nasty e-mail and I'm preparing for a war with this company. It's getting to the point that I am going to need a lawyer and I can't afford that. Has anyone had any success with them reimbursing you for over payment? This is complete and total bull sh*t.

This report was posted on Ripoff Report on 08/11/2012 10:56 AM and is a permanent record located here: http://www.ripoffreport.com/reports/us-fast-cash/internet/us-fast-cash-completely-ripped-me-off-internet-925874. 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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#1 Author of original report

Contract Terms

AUTHOR: fastcashisbs - (United States of America)

Ok so yeah the contract is pretty long but here is the payment agreement part of it. I think I'm pretty much screwed. BUT they did make it sound like they were going to take the payment out on the date it was due (6/9/12) and I don't believe I received the terms until it was signed. I could be wrong though. What I don't get is why they weren't taking out the $50 every other week like it stated they would until it was paid. Perhaps I'm misreading it but it definitely looks like it states that.

I also didn't realize that I had to physically go online to arrange for them to remove their ACTUAL payments, as I said before I have dealt with these types of companies before and have never had this issue where I end up paying over double what I borrowed.
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#2 Consumer Comment

Do you have a copy of the contract to post?

AUTHOR: MovingForward - (USA)

If the copy of the entire contract is too big to post, just copy and paste the repayment terms here in the rebuttal section. If you had only a small fee to borrow this money, then it would be stated in the contract in the repayment terms. However, it is more likely there is a weekly fee that just covers the interest only for the period of the payment.

In order to reduce the amount paid out, you would need to make a lump sum payment of the entire principal due plus whatever outstanding interest payment or fee is due. I don't work for that company (or anything like that company) but that's how most of those subprime cash advance type loans work. The answer to your question is written right in the agreement you signed. Is it fair? No. The question you should ask is: Is the lender following the contract or not? if not, then you take the contract and your proof to court to get them to repay your overages plus whatever penalties the court will allow.
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