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East side lender loan

Date: Thu, 07/07/2011 - 16:47

Submitted by anonymous
on Thu, 07/07/2011 - 16:47

Posts: 202330 Credits: [Donate]

Total Replies: 5


Against my better judgement i took out a payday loan, i was having car issues and desperately needed cash. Eastside lenders funded me $825, so my loan balance that is due on 7/15/11 is $1072.50, since they charged me $247.50 for the loan. I would like to pay the loan off in 3 installments of $357.50. My question is if i do will they come back at me saying that i only paid $330 of my loan since they will deduct the $247.50 x 3 and take the balance of that and try and apply that to the balance? I wanted to pay in full on the 15th but i get paid every 2wks and i will be strapped, have a car payment and i'm a single mother so i need some funding to get me through next pay. I live in N.J. So if i stick to my 3 installment plan, knowing i paid the loan balance in full, do they have a leg to stand on or do i? and how can i prevent them from coming after me. Any help would be helpful. Thank you in advance.


I'm sorry, when i said pay it off in 3 installments, i meant in my 3 pay periods, 1 on the 15th of July, 29th of July and 12th of August. I know they take out every pay so i wanted to pay it off in 3 pays. I was just concerned if they were going to try and say i only paid the fee and alittle to the principle.


lrhall41

Submitted by on Fri, 07/08/2011 - 03:57

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You need to close your bank accounts before you get into any kind of debate with East Side or they will take it all. I went through a issue with them and I called the delaware Banking and Insurance only to find out they are licensed in Delaware but read your contract if it doesn't talk about fees then they can't charge you I would fight it all the way and file complaints with the BBB, FTC and any other Internet crimebureau, I filed complaints everywhere until someone responded. I ended up only owing them 20.00 because I sent a copy of my state laws along with the complaint and I am in NJ too.


lrhall41

Submitted by danettere on Sun, 07/10/2011 - 20:18

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i'll need to call for the loan documents, I also need to look, i think i printed. When i did speak with someone on the phone, at the time i had it in my head i would pay off my next pay and i was told since my loan was for $825 the service fee for the loan would be $247.50, so i was told if i paid the $825 one pay, the next would only be the service fee. I of course now can't pay it off in 2 pays, so this pay they took out $247.50, so now the next pay i have 3 options, PAY IN FULL or RENEW and pay only the $247.50(service fee) or pay the $247.50 and money down on the $825. I have no problem paying the $ i borrowed & the one time fee but is it illegal of them to collect the $247.50 every pay and also expect borrowers to pay that on top of the loan $ that was given to them? If you renew the loan 4 times(that's $990 in service fees) not counting the loan, so i would be paying $1815 on a $825 loan? Just seems wrong! Like i said, against my better judgement and i know i should've found other means, but i had no choice. Seems i partnered with the devil and i just want to make sure that i have my facts straight. I will pay the $1072.50($825 + $247.50) but am i wrong to think i shouldn't pay a penny more? Again i appreciate and thank you all for your responses.


lrhall41

Submitted by on Fri, 07/15/2011 - 15:06

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