Castle Payday Red Rock Tribal Lending LLC Bait and Switch - DO NOT BORROW FROM THIS LENDER !!! Watersmeet Nationwide

Carefully read the entire contract and website before doing business with Castle Payday!!!
The website details make it seem like any other payday loan, indicating things like no prepayment penalty and interest is calculated daily on the unpaid balance.

But the truth of the matter is much different. The contract that you sign is NOT for an interest based loan it is a "finance charge" and even if you pay off your loan before the first payment is due they will still charge you the full finance charge.

for example:

the website indicate that if you borrow $600 you can expect to payback $810 if paid in full on the first payment. with no prepayment penalty and daily accrued interest if you paid off say 10 days after receiving the loan you might expect to payback $670 but this simply isn't the case

The contract actually states that the full finance charge of $420 is due regardless of how early you payoff the loan. And the fine print on the prepayment clause is reworded to state you may be entitled to a refund only if you over pay your loan.

These people use bait and switch methods to trick you into a loan you will have an extremely difficult time paying off so that on a simple $600 you end up paying back over $5000 if you go the length of the contract.

DO NOT TAKE LOANS FROM THESE PEOPLE