American Web Loan - A Loan That Was Misleading

Review by Anonymous on 2012-06-12
Rating: StarEmpty StarEmpty StarEmpty StarEmpty Star
I took out a loan with AWL and asked questions about finance charges. The person I spoke with told me I would make three finance payments and then I could start paying down my loan, but that didn't happen because they are still charging me financial charges. Then they said I need to go back online just tell them just to add an extra hundred dollars to the payment. Because it will start paying off my loan balance. I'm in the process. Shutting down bank account.
Comments:2 Replies - Latest reply on 2012-06-13
Posted by Johanna on 2012-06-12:
They're going to keep charging you interest (I'm assuming that's what you mean when you say "finance charges") for as long as you owe them money. If you want to start paying down the loan, pay them more than the minimum amount owed.
Posted by Thelma on 2012-06-13:
This is called Predatory Lending. They suck you in then bleed you to death with the interest charges. Don't do business with these people!

Your Name:
(displayed with your comment)
Your E-mail:

Your Experience/Advice:
Check spelling

By clicking submit you agree that you have read and accept the Terms of Service & Privacy Policy.

Note: All comments are reviewed by a moderator before being published. Please be sure to read our guidelines before commenting.