American Web Loan ROBBERY! Internet

I filed for a loan in February of 2012 with Americanwebloans.com online. I was approved for a loan for $800 of which I was told over the phone when talking to the loan specialist that I would have to pay back $240 every two weeks for the total amount of $1200 I was expecting to make five payments at the maximum.

Today they took out another $240 for a total amounth of $1440 and claim I still owe them $800. When I originally spoke to the loan specialist and she gave me the total amount I would have to pay back she did not say that amount had to be paid back in full in two weeks after recieving the loan.

When I called them today to find out what is going on they told me that the payment for $1200 had to be paid two weeks after recieving the loan or there was going to be interest, let me add that the interest rate they have me on is SUPER RIDICULOUS 499.09%.

They said that the payments I have been making only applied to the interest and not to the loan at all and that is why I still owe $800 I will be closing my bank account today. I have also reported them to the BBB and to my States Attorney I will be contacting the Missouri states attorney and reporting this to the IRS and the Feds they really need to look into this company I would advise everyone to STAY AWAY FROM THIS COMPANY!