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3 comments

1. they just send a check to take a loan.

2. once i paid off a loan they still ask me to borrow some more again even though i don't like their loan. 3. if I cannot pay off the loan from the very beginning like first two months then I have to pay all interest rate payments that installed in their installments .

for instance, i borrowed $500 with 7 months installments that I pay each month for next 7 months however if I pay it off on my 5th month to save money; but, unfortunately, by the rule of this institution, I have to pay all interests for 7 months, not for 5 months. Because, once I cannot pay it off for like first couple months then it does not matter how early I pay it off , they just take their interest payment as for entire installments like in my case after 5 months I paid it off their loan but they still get their interest payment for 7 months. Besides, their contract about this is not clear at all in their contract I signed. I read every single word of the contract.

They even say that they are working due to the law that agrees all these.

Reason of review: Problems with payment.

Monetary Loss: $40.

Preferred solution: Let the company propose a solution.

Security Finance Cons: Unfair interest payment.

Location: Columbia, Missouri

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Guest

You are completely wrong about the interest. It is calculated rule of 78's.

Precomputed interest. No prepayment penalty.

Pay it off early u save some money. Depends on how soon you pay it off and if you have any late fees.

Guest

My daughter got scammed into this. I got to thinking this isnt right because she has no recent job history, is attending college, only receives child support.

So I went to the office on chestnut expy in Springfield mo and applied and got turned down. I have employment history with only a couple of late payments on my history. Got me thinking they target low income people and college students. Reported to BBB as possible scam.

Another problem, I have not found any explanation regarding interest rates etc. on any of their web pages.

Guest
reply icon Replying to comment of Guest-1246941

It's on the contract the consumer signs. The checks that are mailed out it's on those as well.

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