Applied for a loan with American web loan on December 3,2013. the loan was for 800.00 dollars. I was told that the interest would be 160.00. I called them when I had paid them back this amount,but was told that everything that I had paid only went towards the principal, and that I still owed them the original 800.00. They have continued to take money from my account to the tune of 1750.00. Is there anyway that I can stop them without closing my account. They didn’t have me sign any papers and they lied to me initially.
Consumer Action Taken:
talked to them on the phone and they say I have to pay back over 3,000 dollars to repay this loan. I pay 500.00 per month to them and they say the only way to speed things up is to pay more each month which I cant afford to do.
Date This Problem Happened: December 3, 2013
State You Live in: Pennsylvania
Race/Ethnicity: Black or African American
Age Range: 51-65
Total Amount of Fee Paid:
Company Name: American Web Loan
Company Telephone Number: 877-280-5100
Website of Company: americanwebloan.com
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