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I recieved a$500.00 loan from loan Point usa in 2008, I understood that they would deduct by weekly paymentsd from my bank account until the balance was paid. However, to my understanding the fee would equal $120 .00 which equals $620.00 repayment total after repaying close to $700.00 and numerous phone calls wih rude reps., from loan point I realized it was never going to end, so I had my bank stop payment on any future ACH transactions from them. I didn't here anything for a long time until a few months ago when I began recieveing collections calls, then I recieved a disturbing call from an attorney saying a warrant would be issued for my arrest for check fraud if I didn't pay $1700.00 of course I did all while feeling violated I am now looking for an attorney to start proceedings I know this is a scam and someone has to do something about it .
The complaint has been investigated and resolved to the customer’s satisfaction.
I feel for you. I am going through the same thing to an extent. I got $400.00 from them and have paid back $380.00 so far giving them one more payment then stopping my ACH. They have not applied any of the money they have taken out of my account to the loan. It is just what they say is an extension agreement. They charge more than loan sharks and then I found out they are not even in my state. Good luck and hope it turns out well for you.