Mypaydayloan.com Loan Shark online, told me to pay my loan in payments then told me the payments werent good, needed lump sum also. Internet

MPD gives all of their customers 3 options to choose from when making a payment, which are stated in both the Customer Guidelines and also the payment reminder email. The options are as follows:

1) Elect to pay the total amount due (Fees will be waived if you are a Free Loan customer)
2) Elect to pay the minimum amount and extend the loan with a NEW CONTRACT*
3) Elect to pay more than the minimum amount and extend the advance with a NEW CONTRACT* (Payment will initially be applied to the fees and the remainder of the payment will be applied to the principal!)

*A NEW CONTRACT MEANS: You are entering into a new loan period, which obligates you to pay the finance charge associated with your new
principal balance at the end of the next pay period.

Based on the options given, the payment will only be applied towards the principal balance if option 1 or 3 is selected. If option 2 is selected, the finance fees are the only portion being paid. After a customer has made their payment selection, a copy of their new Check Advance Agreement is displayed which shows the new principal balance, new amount due, and next due date. If the customer elected to pay the minimum only, the Agreement will show that their balance did not change and therefore the original amount borrowed plus the finance fees are still owed.

I have been harrassed by their collections department relentlessly. I have been forced to file complaints with the AG and several other agencies. They will send you letters that clearly say "collections" on them, and if they leave a message on your machine, they give full disclosure. You will hear from Janelle, Kelly, Sarah, or Jake.

Pay them and make them go away, and try not to get sucked into the payday loans in the future. They really ARE loan sharks!