Cash Net USA
Date: Mon, 05/07/2012 - 17:51
But I don't get it, they charge fees that exceed the interest rate cap($50 each payment) why is this legal?
What was the principal amount that you borrowed and what was the
What was the principal amount that you borrowed and what was the APR as per your loan agreement?
It's a line of credit for $700. I pay biweekly and they add a $5
It's a line of credit for $700. I pay biweekly and they add a $50 fee to each payment. The interest is around 30%, but it's the fee every two weeks that I don't get, how do they get away with it?
I've been trying to pay this off, but they have the worst customer service. They keep calling and emailing about my payments, but when I try to give them my new account info the refuse to change it! I'm like here is my money please take it!!
here is why
a CSO is not a pdl(as you've found out)the only reqirement for a CSO is that they register as a CSO.there some things in place,but the interest is not regulated like a pdl.unfortunately until complaints are filed and reforms similar to pdl's is done that is how CSO'S get away with it.again unfortunate,but that's the reality.
If you look closely at the contract, you'll see the fees are bro
If you look closely at the contract, you'll see the fees are broken up into different categories. The interest is usually very low. The CSO fee is what gets you. It's a loophole that needs to be closed but hasn't.
Also, try asking for an extended payment plan to get out from under this debt. I'd email their customer service people rather than calling.
Ok. That's kinda what I thought, "loopholes" etc. Just curious.
Ok. That's kinda what I thought, "loopholes" etc. Just curious. This one is almost paid off. Just can't seem to get them to take my money. Very poor customer service. But I have all my calls and emails saved, so we shall see :)