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Report: #937995

Complaint Review: American Web Loan - Internet

  • Submitted:
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  • Reported By: Angie — Dubuque Iowa United States of America
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  • American Web Loan 522 N. 14th st box 130 Internet United States of America

American Web Loan AWL SCAM ARTISTS, Internet

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I unfortnately dealt with this company and am VERY upset.  I had taken out a loan- yes, not the smartest idea.  They don't make the fact that you only pay the interest and nothing towards the principal clear.  They finally contacted me to settle my account and told me that it would be for $500 (the original principal borrowed- even though I had paid over $1000 in just interest payments).
 
They took out one payment at $250.  The next week they tried to run the other $250- but it was on a non-pay period and told me that since it didn't go through that they would not be honoring the settlement amount.  Now they said I owed $1000.

The next week (that was a pay week) they took out 2 separate payments of $250.  I called to let them know about the payment being doubled.  I was told that one of the payments would be credited to my account. 

It has now been a week (in which I called the Friday I noticed it, Tuesday- when I was told it would post by Wednesday and on Wednesday I called and had been told it was done).  I called today and was told that since I owed $1000 that the "extra" $250 payment was posted to my balance due.  Also, that they weren't going to give me a refund to my account because of the "balance".

I was then told that they would close my account out and that it would show paid in full.  She then had the nerve to say to me that I was more than welcome to take out another loan!

I am in talks with my bank to see what can be done- I don't know what the outcome will be.  I just wanted to get this out there.  My advice is DO NOT take out any payday loans- they are simply not worth it.

This report was posted on Ripoff Report on 09/07/2012 10:43 AM and is a permanent record located here: https://www.ripoffreport.com/reports/american-web-loan/internet/american-web-loan-awl-scam-artists-internet-937995. 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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