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UnitedCashLoans Complaint - PayDay Loans

Review by borntexan on 2007-07-18
I had a loan with UnitedCashLoans. I had changed checking accounts and informed them I had done so. I was informed that besides a monthly payment, all I would have to pay would be a ONE TIME. I can tell you right now that I was misled by the company. Instead of a monthly payment, they took out the entire payment without, I repeat without, my authorization. They then proceeded to try to pass the blame on to me. I feel that I was lied to and misled by the company. I feel that UnitedCashloans give the other payday loan companies a bad name. There are good companies out there with hard working people that help folksout in times of need. I feel that state attorney general of whatever state UnitedCashLoans has their headquarters in a long hard look. I believe the other payday loan companies are doing an outstanding job. I will never do business with UnitedCashLoans again, and I would strongly urge other folks to do the same.
Comments:5 Replies - Latest reply on 2007-07-19
Posted by Anonymous on 2007-07-18:
Why do people fall for this kind of rip off (PayDay Loans). This is the stupidest thig they have come out with that people just can't seem to live without. I don't get it, if you just wait till pay-day you wont have to go through this. Stop using PayDay Loans scams!!!!!!
Posted by Ponie on 2007-07-18:
I don't remember the name of the company but there's one TV commercial for pay day loans that ends with this comment: 'Never borrow more than you can afford to repay.' Makes sense to me.
Posted by CrystalSword on 2007-07-18:
Since these places have come into being, I made up my mind that I would never go to one. A dear friend had gotten in so deep with a PayDay Loan place that I'm not sure is is out of it yet, because she was trying to help her kids, and THEY didn't give her the money back so she could see that it was paid. Darn kids!! I make it a point to make it from pay day to pay day even though we get paid once a month...some months are good and we havea little left...other months we run out a week before payday....such is life, we live with it!
Posted by Starlord on 2007-07-18:
Former child actor Gary Coleman advertises for a payday loan outfit, and I have to admire him for his acting, as he talks so enthusiastically about the company, you really believe him. I wonder if he has ever even taken a small loan from this company, due to the wording of the small print displayed on the screen. On a loan of $2,600, the APR is 99.25% with 42 monthly payments of $216.55. The ol' calulator tells me that comes to over $9,000. I am not stupid enough to go for that deal, thank you very much.
Posted by Longbeach on 2007-07-19:
PayDay loan companies require you to write a post dated check for an agreed upon amount. When the loan becomes un-paid on the date in which the check is written for, then the company has a right to cash it. PayDay loan companies are a complete monstrosity to American business and their entire market is individuals or families that are living at or below the poverty level. Many state law makers are attempting to outlaw these companies from doing business within their state. My suggestion to you: push for this ban in your state, join a Credit Union if possible, they make PayDay loans to their members at very reasonable costs.

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