Consumer reviews and reports on scam companies, bad products and services
Red Stone Cash
Red Stone Cash Unclear fees and scandalous repay requirements. Trickery to collect exorbinant repay. Timber Lake, South Dakota
21st of Apr, 2011 by User760127
Red Stone Cash is a cash services company, which charges high fees and uses trickery to charge for long periods of time in repaying loan fees vs. principle. The company refuses to provide account summaries or statements. The company does not allow internet or paper access to your account information for tracking or communication. They do not let you know that unless you call each time before your repay date, monies paid will only go toward fees vs. principle. Thus, they will collect fees forever and you still owe the original amount of the loan plus that same fee. They will not tell you up front that they will not set up an ongoing principle paydown. They do not tell you that you will have to call every pay period in order to effect your principle. They claim their system is incapable of providing written or electronic communication regarding your account. This is a system, which allows them to collect the principle and fee amount over and over. It's infuriating.
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