53 yr. old 100% disabled cardiac patient. I borrowed $200 from VIP Loans last Nov. The payment was $75.00 a month. My daughter needed the money at college and on a fixed income it's all I can do to help her through college. I made 6 paments at $75.00 and paid it off. That's $450.00 for a 200 dollar loan. Not real smart but beggars can't be choosers. Recently, last month, she needed $300. I contacted VIP loans again. I said I needed $300.00 on the same terms as last time. Roughly $37.50 per 100 dollars borrowed for 6 months. or $102.50 a month. The sent me an email the day before they intended to debit my account for $164 and some change. I called the bank, paid the $32.50 for the stop payment and thwarted their attempt to draft my account. I was wondering if 1. They are licensed in the state of Oklahoma and 2. How they can say they have my signature on a contract stating that I agreed to that. Mysteriously the contract they sent me never would open, and they put the money in my account. I have no problem paying them back at $70-75 per month. I do have a problem paying $164. a month for 6 months for a $300.00 loan. Any help out here?
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