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Report: #1078751

Complaint Review: Pioneer Military Lending - Pennsylvania

  • Submitted:
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  • Reported By: RCSO — Alabama
  • Author Not Confirmed What's this?
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  • Pioneer Military Lending Pennsylvania USA

Pioneer Military Lending https://www.pioneermilitaryloans.com/ Pioneer Military Lending Predatory lending to military service members Pennsylvania

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I want to give a warning to all military members, this company specializes in lending to military personnel at high apr rates.  It entices you by lending you upto $10,000 in "revoling credit".  They use the term "revolving credit" because according to Congress predatory lendors cannot charge more than 32% apr on "personal loans" or "loans" to service members.  But this company found a way around that and that is calling their loans "revolving credit" like a regular credit card.  

I needed an airplane ticket last minute for my daughter, the ticket cost was $640, the loan amount ended up being $1395.00, which even if you attempt to pay off early will still come out to $1395.00.  If you need more money they are more than willing to lend you the money and lets say you have an outstanding balance $800 on your current loan, and you want to borrow an additional $1000, making the total to $1800.00 they will add interest to those $800 plus on the $1000 so that in the end the loan will cost you $3600.  

 Please please don't fall for this, and unless you are in real need and have no other option do not do any business with them or OMNI financial.  Find other ways to finance your needs.

 

Sincerely,

DISSAPOINTED 

This report was posted on Ripoff Report on 08/24/2013 03:28 PM and is a permanent record located here: https://www.ripoffreport.com/reports/pioneer-military-lending/pennsylvania/pioneer-military-lending-httpswwwpioneermilitaryloanscom-pioneer-military-lending-p-1078751. 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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