Consumer reviews and reports on scam companies, bad products and services
American Web Loan Ripoff on a small loan Ponca City, Oklahoma
17th of Oct, 2011 by User965113
I took out a $300.00 loan with them because I was having a hardship and needed the money quickly. Evidently the way you pay back a loan with them was not explained to me in terms that were clear. To date they have taken out $90.00 every other week from my account for a total of $400.00. When I called them because I didn't see the $300.00 loan balance going down, they said the $90.00 that was being taken out of my account was just the interest, and I hadn't set my account up to have that money applied to my principal. So the way I figure this, it is going to end up costing me ~ $800.00 to pay this off. I took the $300.00 loan out and was ok with a $90.00 fee for the loan. But now having to pay them all this money when I am still in a bind is outrageous.

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