Big Picture Loans, LLC Consumer Loan Complaint

Big Picture Loans, LLC Consumer Loan department,

Installment loan Managing the loan or lease Nevada

In - of -, I applied and was approved for an installment loan in the amount of $400.00 from - ( formerly CastlePayday.com ). On the website, the loan was to have a 784.73 % APR. The website also stated that the total to prepay the loan in full on or before the 1st due date was $540.00. Having experience with payday and installment loans, I did not pay attention to the math at the time I agreed to the loan. From speaking to the customer service representative, I was under the impression that I would make three payments of $200.00 for three months to pay off the loan. After making two payments of $200.00 ( - late payment fees ), I was informed of the payment plan that the company set up for me in which I would be making monthly payments in various amounts until - of - totaling in upwards of $2000.00. At no point in the application process did I agree to this payment plan. In - of -, I asked the company how much it would cost to pay off my loan in full. They replied that I needed to pay $820.00 ( not including the two payments of $200.00 that I had already paid ). If my math is correct, that is more than the APR that I did not know I was agreeing to in the first place. And, I do not know if that payoff amount will change depending on the time I am able to make the payoff amount.