How much interest does the government actually require?

Hi, welcome to the site.

Rio Resources is not very popular around here, a lot of us have gone rounds with them. How much interest you need to pay depends on what state you're in.

Tell us what state you live in and how long your husband has been paying on the loan..We can help you.

He has been paying since August at least, that is as far back that my online banking will go. It looks like since then he has paid 900.00 on 500.00. This has really sent me over the edge. I tried to get his pin number to check the balance because last time I looked it was 90.00 and that was before the 75.00 taken out today. I wrote to the e-mail that they had sent him a while back. Since they were taking the money or rather trying to on every other Thursday which was suppose to be on Friday, which cost us an additional 25.00 service charge each time, I had the e-mail still in my contact list. But they are ignoring this and still have not sent the pin number. I am going to try and call, my husband has given permission for me to speak with them about the account, but they probably won't - some people have a way of getting aroung dealing with me when it comes to finances. (When it comes to his hard earned money, I can be a little irritating). I printed out all the statements back to September and he was being charged then and no deposits from them were made so, it must have been in August. Thank you for any help you can offer. We have been trying to survive with these payday loans for over a year now. Seems we have to have another to help pay the other. Make any sense? Thanks, Pat Akers

Pat, now that you have your statement, you need to check with your laws on the legal charges allowed in your state. After you calculate everything, you will get the status of your account and figure out if the loan has been already paid. If it's paid, you have every right to demand for a "paid in full" letter from the company. You may also go to your bank and explain the activity of the company. They will block Rio Resources AKA MTE Financial from doing further debits and dispute the excessive charges with the company.

Follow the entire discussion about this company in the topic.

Pat, Like Arden said you need to go to the bank and dispute the charges. I would say you will have to close account and open new one. They pull the paper check routine. This company is famous for that. They will send a check like number1 or 9999 thru. Also check your state laws. paydayloaninfo.org and file a complaint with the Attorney General in your state. Best Wishes KYSIDE38 :D :D