Cottonwood Financial Ltd. Payday Loan Complaint

Cottonwood Financial Ltd. Payday loan department,

Payday loan Payment to acct not credited Payment to acct not credited Texas

On -/-/15 I borrowed $3000.00 from the Cash Store # -. On -/-/15 I went to payoff the outstanding balance with a cashier 's check but the representatives at the store would not take my payment stating that a an ACH had been processed on the same day for $730.00 to my Bank account which they had not received confirmation if it was paid hence unable to give me a payoff quote. I went back to the store again on Saturday - and Monday - and they still would not take my payment. As result I incurred an additional $180.00 in finance charges. Furthermore, I find it very deceptive to show an APR of 9.75 % on the promissory note yet there is an CAB fee which is assessed as a finance charge which increases APR to the unconscionable rate of 581.72 %. It cost $2500.00 to borrow $3000.00 for 43 days or so - outright exploitation!