Complaint Review: Castle Payday - Watersmeet Michigan
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- Author Not Confirmed
- Castle Payday P.O. Box 704 Watersmeet, Michigan USA
- Phone: 888-945-2727
- Web: www.castlepayday.com
- Category: Loans
Castle Payday Redrock Tribal Lending, LLC A Castle Ripoff Watersmeet Michigan
*Consumer Comment: Interest Rate?
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In April 2014 I ran a little short of money to attend the funeral of a loved one in Michigan. Eventually, I contacted Castle Pay via their webpage www.castlepayday.com and did an online application for $1,000.00. I was approved and the money deposited into my bank on 24 April 2014. Nevertheless, I though this was great financial blessing, beacuse not only were my wife and I able to attend the funeral, we were also in a position to help contribute to the burial expenses.
And here we are on 30 August 2014 with Castle Pay still trying to collect an additional $380.00. Ironically this is the same dollar amount they indicated was my balance on 9 July 2014. Since 9 July 2014 I have made 3 payments totaling $570.00.
I beleive enough is enough. Therfore on today (30 August 2014) I setup a stop payment order with my bank to not allow any further ACH transactions for Castle Pay.
'Come On Man'! I believe in paying all the fair and honest debt I acquire, but I don't belive Castle Pay is an honest player in the loan business.
Since May 2014 I have paid Castle Pay $1,620.00 on a loan amount of $1000.00. Is this highway robbery or what?
William
Junction City, KS
This report was posted on Ripoff Report on 08/30/2014 03:18 PM and is a permanent record located here: https://www.ripoffreport.com/reports/castle-payday/watersmeet-michigan-49969/castle-payday-redrock-tribal-lending-llc-a-castle-ripoff-watersmeet-michigan-1173441. 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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#1 Consumer Comment
Interest Rate?
AUTHOR: Robert - ()
SUBMITTED: Sunday, August 31, 2014
If the castlepayday web site is correct, the interest rate for $1000 loan is 787%. If this is accurate, the money you have paid them so far does not even cover the interest on the loan and that is why they want more money. You better check the contract you agreed to before cutting them off.
I don't know how they can get away with this interest rate or why anyone would even consider using them for a loan.
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