Big Picture Loans, LLC Payday Loan Complaint

Payday loan Charged fees or interest I didn't expect charged fees or interest i didn't expect

Big Picture Loans, LLC Payday loan department,

Payday loan Charged fees or interest I didn't expect Charged fees or interest I didn't expect Tennessee

On -/-/2015 I was having some financial difficulties and applied for $600.00 from Castlepayday that would be deposited to my account on the same day. When talking to the representative, who was extremely hard to understand, I was not made aware of the extreme interest rate that I would be charged. I was not able to view the Truth in Lending disclosure until my application was " approved '' and funds were deposited into my account. At this time I was astonished to see that the finance charges were $3600.00 @ an APR of 867.4001 %. I then tried to contact and cancel before the " 2 day '' cancellation period but was unable to reach anyone. I was then told once finally reaching them after the third day that I could not cancel because the money was already deposited into my account and I would have to make the payments as scheduled. I not only would like to have this matter closed with no further money being " ripped off '' from me, but also to assure no other unassuming and innocent consumers be taken advantage of like myself. To date I have already paid these crooks $2300.00 for $600.00 a difference of $1700.00!!! I was told I would have to pay only $480.00 in finance charges which obviously IS NOT the case.

Big Picture Loans, LLC customer in Tennessee
May 20, 2016

* Source: CFPB Complaint Database

Big Picture Loans, LLC response to complaint:
Closed with explanation

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