AmeriLoan
Reviews and Complaints

My car just towed and I paid off all the debt! Now people are leaving letters and knocking on my door asking for triple what the loan was because they need to recover 'lost revenue' and telling me it cost more to tow my car than what its worth. So I'm being told that they need more money to pay for them towing my car after I paid their high interest.

Initially, I borrowed $250 from Ameriloan when I filled out an Application on line. That was in November 2012. It is now July, 2013 and they are STILL are deducting $45 and $30 from my checking account EVERY month! I logged in to my account to CHANGE the amount of monthly payments to pay it off ---that was months ago. Also, I was NEVER given the OPTION of paying the $250 back within 30 days to AVOID their interest. I've paid back the $250 plus ANOTHER $300 in INTEREST to Ameriloan! I am disabled and live on $710 a month. Ameriloan is definitely a RIP OFF!

I TOOK OUT 250.00 TO PAY ON TUITION, READ THE CONTACT AGREE WITH INSTALLMENT PAYMENT. EVERYTHING WAS FINE TIL NOVEMBER AFTER THANKSGIVING, AMERILOAN DECIDED TO GOES INTO MY ACCOUNT 4 TIMES THE SAME DAY. THEY CONTUINE GOING INTO MY ACCOUNT WHERE I COULDN'T CLEAR UP MY ACCOUNT, BY THE END OF DECEMBER MY ACCOUNT WAS AT A VERY LARGE AMOUNT END UP CLOSING THE ACCOUNT. I OWE MY CREDIT UNION VERY LARGE SUM OF MONEY.

I took a loan of $300 dollars about 4 months ago on a payback program of 90 dollars every paycheck. This company deceived me by charging my bank account $90 dollars twice the same day for 3 months, and now the charged $45 + $75 the same day last week. I contacted them, and they said I was only paying for the fee of "renewel" of my existing loan. wtf is that? I paid them 3x over the amount of the loan, and they said I still own them $245.00. i did a lilttle research on them just to find out they are immune to state law on their unlawfull practices because they are an Indian tribe, and they work in conjunction with many other companies all owned and operated by race car driver Scott Tucker (hope he dies on a fatal crash). This company is a HUGE HUGE HUGE SCAM!
I still don't know where to beging in order to protect myself from them, and save my identity, because now, they have most of my info. Hell would be too good of a place for this scam artists.

I had completed a aloan with ameriloan and transferred the repayment schedule to another bank account. well the primary bank which was citibank put a block on our account stating that ameriloan trying to put through a payment. after explaining to a rep at ameriloan what has happened she instructed me to call the bank bank because the did not attempt to take a payment. Of course I did what i was instructed to do, well cicitbank tells me that I must set up a conference call with them to rectify this problem. I inturn call my Ameriloan rep ms. Lisa at ex 2018. and she told me that she would not call citibank to help clear up this problem and in a " matter of that attitude": she stated that this is our problem...I told her I wanted to speak to a supervisior and I am still waiting on that call... I have been doing business with them for over three years and never have we been treated like this. I dont care hard times are I know that we will never use this company again...another bites the dust ameriloan...thanks for your lack of courtesy

I know i was in need for money at the time, and i was helped although a 400.00 loan turns into one thousand dollars or more. I did not see the agreement form and that gave you Ameriloan the wright to go into my account take out extra money which in yurn cause my personal account to overdraw, I am responsible for that, I called spoke with Robert who didn't give a damn about my situation. Montel Williams i will tell all my friends not to get involve with Ameriloan or any other loan, learn to be without it is not that hard, Thank GOD i paid you all in full, trust and believe i will never contact you again for anything. and i will place it on FACEBOOK or what ever site so my friends and family will know you all are full of ###. Grant it i did needed the money and it did help, It just cost me more than i could have imagined.

Do not never do bussniess with these rip off artist i barrowed 250 an paying back close to a grand for those who need a loan go visit your shaded loan shark u.ll come out wth better deal dont let these loan sharks contiune to rip the hard working people of america off these people must be repulicans an hve only there self, s greed an abitions in there mind set america revolt to the greed of corp america so please take the greedy american captilist greed so i for one will never do bussiness wth anouther online loan agenecy ever again they only care about there greedy capitalist ways.

I applied for a loan because I needed some money until I could pay it back in full. The same day I was charged to the same very seldomly used account 29.98 for super club savings. I never agreed to pay anything other than the loan installments. The advertisement said I would get the results of the loan in 24 hours or less. The next day, AFTER the transaction at my bank, I receive an email with a user name and password to look at the status of my account. I go and it says that my account is pending and if approved I may get my money in 4 more days, which would have been too late anyway. I asked the company to revoke my application and cited that they charged me for something I didnt ask for. I am also reporting them to the FBI internet fraud unit.

Thought when I paid the initial loan off, I wasn't aware that I wasn't done yet. Then they proceed to tell you that you still owe the interest on the loan. What starts as a $250.00 loan, ends up to be $400. What kinda crap is that? I know that they have to make money, but the interest is ridiculous. Unfortunately, they have us trapped. They helped when I needed the money the most, but tacking on such huge interest is unreal. We fill out the application, so what do they do to earn that money?Never again!

I have been getting repeated calls from Ameriloan re a loan that was secured on-line, approximately two years ago, in my mother's name. My mother at that time was 95 years old, has macular degeneration in her eyesight and has never owned or used a computer. I suspected it was obtained by her daughter who was her in-home care provider and had a computer and was known to use my mother's ss money for gambling. I furnished pertinent info to Ameriloan and filed an identity theft report and furnished that info to Ameriloan. The calls abated for a short period and then started-up again. Approximately 2 weeks ago I called Ameriloan and talked to a John Webster and advised him that I was in NO WAY RESPONSIBLE for the loan and told him that if the calls did not cease I would contact an attorney and explore my options. Today, 09/14/2009, I received another call and called the number provided and again talked to the same John Webster. Again, I advised him that I was in no way responsible for the loan and that there is no way my mother is responsible for repayment. In addition, I again advised that if the calls didn't stop I would contact an attorney to see about suing for harrassment. He told me he had no ability to stop the calls and when I asked for another number to talk to somebody that could he told me it would be customer service and they would refer me back to him. He was very curt and said he had nothing further to say or discuss. He also said that Ameriloan's collections dept determined nothing came of the id theft report and would continue collections. When I asked who they intended to collect from, he stated "probably nobody" to which I replied, "that's correct". He then hung up.
I cannot believe that this company is allowed to even be in business let alone continue their shady practices. This company needs to be sued out of business and I am going to explore that option.

Ameriloan continues to force contact with me even after I have given them accurate information regarding my attorney's contact information and notified them that my attorney has been fully retain. Yet they state the attorney must call them with a file number. All other creditor have verfied my attorney's information and contacted his office and I have had no further problems with any company other than ameriloan which has total disregard for the California laws and fair collection practice laws. My attorney and I have begun Civil proceeding against this company for continual harrassment.

This company is HORRIBLE.

Please advise anyone who further a victim from Ameriloan. Never uses this company to apply for a loan. I have never borrowed money from Ameriloan somehow they got my information that I borrowed from different lender. I thought they are same company. Actually they're different company. So Ameriloan place a money to my account $200.00 they been deducted my bank account for 4 payments. I still owe the payoff of $260.00. They still continue duct $60.00 till i have 260.00 pay off the amount. Thats a rip off.

Ameriloan will not answer any BBB complaints, ore respond. This is a fictions name, used by a person who has started a home based business. Go out an read the website www.paydayloans.com There is a company called Trihouse Enterprises located in Nevada, who sells information to people on how to start an internet payday loan business.

This is why you have a 800# to call and fax # and no physical number. It just like a person becoming starting a business, and they are assigned a team of people who work for you which is hired by Trihouse Enterprise, once you become one of their clients. These internet payday loans are nothing more than advance fee loan scam disguised as an internet payday loan The hidden truth is in the mathematics, and the terminology.

Have you ever paid attention to one of the agreements? For example for a loan of $300.00 It tells that it will cost you $90.00. The agreement may even tell you the average APR is 762% for a 14day loan. Then look at the repayment options, pay in full, pay the finance charges only for pay periods 1-4. You do not have to respond they will be automatically renewed. Then on pay periods 5-8 you will be required to pay the finance charge and the principle.

The loan balance is automatically refinanced and the finance charge is reduced by $25.00 each time. The borrower even changes the contract agreement to reflect the current amount account balance, and current date, and uses the same the same electronic signature which they obtained from you when you originally signed the loan. The agreement says there is no prepayment penalty, but you will not be refunded for the finance charges which you paid.

This is the hidden truth. These lenders are copying the mortgage payment options. The finance charges, interest and principle for borrowing a $300.00 loan for the next 1-3 years but has just repaid within 7-60days, based on your pay date.

They told you the cost of credit for the year is $90.00 on a $300.00 loan. Well if you pay the loan in full on your next pay date, technically you have just repaid the lender the finance charges for borrowing a loan of $300.00 which should have been repaid over a period of 12 months. Annual percentage rate means the cost of credit annually, not daily.

Next, the repayment options. During payperiods 1-4 the lender is automatically rolling over the loan, calling it an extension, or renewal. It does not matter that is a disguise. The lender either is a broker or has a mortgage broker working with them. This is copy cat payment option of an mortgage payment plan called interest only.

Then during pay periods 4-8 you are having the loan paid down with interest and the principle, and the loan just keeps refinancing the balance until it is paid in full. This is a copying the payment mortgage option for an adjustable rate mortgage. Next, you have the loans with the 4 cash extensions, or renewals where the borrower pays the finance charges first. Then they are required to pay the finance charge plus interest at the end of the loan, this is copying a balloon rate mortgage. These are the same options which have caused homeowners to go into foreclosure or file bankruptcy. Now here is the catch the lender has just made you repay them $870.00 on a $300.00 loan. this is equivalent to an apr of 223%.

Congratulations to the lender he has just made a profit, and made us repay him for a $300.00 loan for the next 2 years and 7 months, and we have repaid it based on their payment plan early within 60 days. The trick is he never told you, and because they did not ask you to pay the money before the loan was issued, no one is catching it. Because they are issuing the loan, and hiding your advance finance charges, and interest and principle in their repayment plan.

Now, I have filed a complaint to the Ftc, the IRS, the State attorney general and the Office of financial regulations of florida where I live. I received a call from an investigator who has been looking at these online internet payday lenders. Do you know what the scary part is? The lenders are under fictions names, and several of them were all all traced to one person. A man, who lives on an indian reservation. There is a federal law which states that he cannot be sued or prosecuted because of the Native American law. But regulators are seeking out a way to prosecute him based on state laws. Has this information every been released to anyone? No, it has not. I even I had my bank records pulled and the funds drafted from my account were sent to a canadian personal account. Which I am assuming is a mortgage broker.

These are people setting up internet home based businesses. Some are using a local broker or Canadian broker. The agreement is unenforceable because it violates the state usury laws, and some state has strict laws which requires they have to be licensed with your state as a consumer reporting service organization. But you cannot fight them by contacting them or filing a complaint to the bbb, or just your state attorney general. Please if you have documentation, such has bank statements, see if your bank can pull routing numbers for your internet payday lenders, keep copies of your agreements, and to support your complaint. Next verify what your state's usury law limit is .

And if you are a victim of one of these lenders, Ameriloan, United Cash loans, Cash advance network, paycheck today, Magnum Cash advance, Cash Net USA, Geneva Roth, Ez payday cash, and Zip Cash.

Find out if they are registered in your state, if not then File a complaint to the Office of Financial regulations in your state. All of these lenders are using the mortgage payment options to cover up to charge you in advance fees, interest and finance charges for a loan for the next couple of years within a short period time. Don't let them do this. Send letters to the credit bureau indicating the file is under dispute. If you have paid them any money at all, above the principle file your complaint immediately. Send them a letter to letter revoking authorization to draft any more funds from your account, and make sure you email it to them for tracking purposes. You can fax it too, but I would do both. I have had several lenders tell me we never received your fax. Next, contact your financial institution and tell them what is going on.

It will be totally up to you about if you decide to close your account, and set up a new one, or stop payment on the ach deductions. If you stop payment on the ach deductions. That will not work. it is only valid for 60 days for one. Next, it will only stop payment on the dollar amount. This means every thing you attempt to pay for totaling that amount will not go through. Third, the payday lender can change digits to reflect multiple drafts equivalent to the total of $90.00, and they will clear your account or put in the negative.

Third if you decide to close your account, you need to find out what your financial institution's policy is. I was told my office of bureau of investigations, that some victims have closed their account, and the lender submitted an deposit of .15, and this automatically opened the account back up. You need to find out if this is the case on your end. If, that happens then this would not be something they office of financial regulations in your state would be able to handle. This would be the responsibility between your bank and your banks regulator to handle.

Third, be prepared to take the stress of the heat of the collectors calling you. I cannot tell you how quick someone will take the case. I can tell you that I started complaining in May08, I am just now starting to receive a responses back from the status of the case and what is being done. But, in the mean time I am receiving all these calls. and the cease and desist letters which I have sent via fax an email are not working. So, now I just forwarded every communication, and log the time and representative calling me from every place and forward it to agent handling the case.

There are no guarantees on the outcome of the case of you getting your money back. But, from what I have been told Ameriloan is one of the companies who have settled in the past, and those people's account were closed. But, there are cases where the account has been reported as closed. But the lender starts up a later and tries to pursue you. So, I am hoping that by me telling my regulator of the scam being hidden by the lenders copying the mortgage options. Which are the same options which have caused consumers to loose there homes, these lenders will not be able to pursue you later. Because a home owner could not repay a mortgage this way, what would make you think that a payday loan can repaid this way.

My state attorney of General did nothing. He said that it is not a public interest. But, I was glad to know the Office of Economic Crimes was interested investigating these people. But you must go through the Office of financial regulations in your state. Now, take action!

I took out a payday loan with Ameriloan a few months back, trying to make ends meet. In addition, I had two other internet payday loans with other companies. Unfortunately, I found myself further and further in debt and, unfortunately, had to file for bankruptcy. I was advised by my attorney to put stop payments on all of these loans. I did this on the 11th of January. The companies contacted me and I told them what was going on (1) that I had filed and (2) to contact my attorney. Well, guess what? Today, January 30th, I happened to check my bank account and saw that I was $1500 overdrawn! These people (Ameriloan, United Cash Loans and One Click Cash) all ran checks through my checking account! These checks were NOT authorized! I'm just devastated by this and hope that my bank will reverse these charges. I just wanted everyone to know DO NOT, EVER get a payday loan with ANY Company. They are very unscrupulous people who prey on those that are in a financial bind.