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Report: #1205107

Complaint Review: Castle Pay Day Loans - Watersmeet Michigan

  • Submitted:
  • Updated:
  • Reported By: J Rodgers — San Antonio Texas
  • Author Not Confirmed What's this?
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  • Castle Pay Day Loans Castle Payday N5384 US Highway 45 STE 400 Watersmeet, Michigan USA

Castle Pay Day Loans Barely-Legal Criminals Watersmeet Michigan

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Do not EVER reduce yourself to utilizing this company for a loan - call a relative, sell personal items, or donate plasma if you have to! But  Castle Payday should not even be a very last resort.

These people are legalized CROOKS who do not fully explain - even when explicitly asked - the outrageous interest conditions attached to their loans.

I needed cash fast to pay a utility bill, and requested $400.  Even though I repeatedly asked "what is the full amount I will be paying back?" this question was not answered completely or truthfully.  The response was "if you make some small payment on your principal your loan will be repaid more quickly" Duh.

2 weeks after receiving the funds, a first deduction from my account of $140 was made.  Then another. And another.  I called to request the payoff amount, only to be given the shock that there were still another 17 payments of $140 to be made - all for a GRAND TOTAL of $2800 interest on a $400 loan, thus bringing my total amount to repay to $3200.  And this is LEGAL??!?

I made my $540 pay-off payment immediately the next day.  

My only hope is that this message will be wide and far-reaching and that people will do their homework and inquire about this company, and RUN the other way, as I should have done.  I would shout it from the rooftops for months to come if I could - hopefully the Internet will do a good job of that for me.

 

This report was posted on Ripoff Report on 01/28/2015 04:12 PM and is a permanent record located here: https://www.ripoffreport.com/reports/castle-pay-day-loans/watersmeet-michigan-49969/castle-pay-day-loans-barely-legal-criminals-watersmeet-michigan-1205107. 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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