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Castle Payday loan

Date: Fri, 06/05/2015 - 13:41
Submitted by dragonage7 on Fri, 06/05/2015 - 13:41
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Need help, when i took the loan out for $500.00 I was told their is one fiance charge of $175.00 then my account would be charged $175.00 till balance paid off... ive made 4 payments of 175.00 a total of 700.00 when i called to see about the 25.00 extra i paid and getting it refunded they said i still had 500.00 to pay!! I asked why Ive paid them 700.00 that covered total cost of my loan 675.00 i should not owe them anymore, they informed me no they charge 175.00 fiance charge every two wks that i was not maken payments on my account just refinancing my loan. That was not how it was explained to me when i agreed to the loan, what can i do!!!


Hey there,

I'm newly registered to the forum like you, but I've been lunking around here for quite sometime before I decided to sign up. I also had a PDL from CastlePayDay and what they are telling you is the truth. Technically, the $500.00 loan is the principal balance of the loan and every 2 weeks they charge you $175.00 to 'refinance' it.

So, every 2 weeks when you only pay $175.00, you are only paying the finance charge and $0 of principal. That is why they are telling you that you still owe $500.00. I had a loan with them where I paid off over $300 over the original principal amount and they said that I still haven't even touched the principal balance!

Luckily, ALL tribal lenders (which includes castlepayday.com) are illegal in the US. Please follow this link which will lead you to the right course of action:

Since you have overpaid your loan, they actually owe you a refund in the amount of $200!


Submitted by EliminateDebt on Sun, 06/07/2015 - 21:12

EliminateDebt

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Castle payday never got back to me after I told them to desist and desist so I assume all is well they got paid 150 bucks more than they should have but I'm good with it another one bites the dust


Submitted by cadavev on Mon, 09/14/2015 - 20:56

cadavev

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