Today I received voice mail stating that I was going to be sued and arrested for a loan taken out by an unknown company and that I had to appear in court in San Diego, California where charges were filed or pay 545.
30 or be sued, he never gave the name of the original company or an account number. I spoke then with a man with a heavy accent named Kevin Petterson aka Marvin Morris and I could barely understand him. I asked him to repeat himself several times. He purported to be an attorney for INSTANT CASH USA working out of their Personal loans brunswick ga department. Petterson stated that this was a serious matter and that they were willing to settle out of court if i paid the entire balance immediately.
When I asked for documentation to be faxed to credit score needed to get a small personal loan, he immediately hung up. I called again at which time Mr. Petterson's voicemail picked up however the man on the voicemail stated his name as Daniele Martinez.
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You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you. The purpose of shorter duration loans is to provide the borrower temporary financial relief.
You will be given the details on the APR, loan fees, and other terms by your lender when you are redirected to your loan agreement during the loan request process. The APR on a short term loan can range from 200 to 2,290 depending on how the APR is calculated (nominal vs.
effective), the duration of the loan, loan fees incurred, late payment fees, non-payment fees, loan renewal actions, and other factors. Keep in mind that the APR range is not your finance charge and your finance charge will be disclosed later on. See a Representative Example.
Borrow 200 for 14 days with a 30 to 60 lender fee. Your estimated APR is 391 to 782 Calculation: (lender fee loan amount) x (amount of days in a year duration of the loan) x 100 Low End of Range: (30 200) (365 days 14 days) x 100 391.
07 High End of Range: (60 200) (365 days 14 days) x 100 782. 14 Payday loans are relatively expensive when compared with other loan products.