Red Rock Tribal Lending Payday Loan Complaint

Charged fees or interest I didn't expect

Red Rock Tribal Lending Payday loan department,

Charged fees or interest I didn't expect Oklahoma

I was in a bind and took out a loan with CastlePayday.com, which is actually Red Rock Tribal lending. When I applied someone called me immediately and rushed me through the process of the loan. After reading some things about this company online i realized ... ..Oh no, i better go print my papers. I log into my account online and it reads loan amount $800.00, Finance Charge $280.00, pay off balance $1000.00. I print the contract and it says finance charge of $6000.00 and annual percentage rate of 787.4136 %, total pay off $6800.00. HOW IN THE WORLD. So I immediately contact the company and revoke my ACH and they tell me that they will now remotely-create a check and send it to my bank for payment because i dont have the full $1000.00 to pay on payday. I dont know what to do. The contract states that this is a tribal loan and i have basically given up all my rights.

Red Rock Tribal Lending customer in Oklahoma
Apr 02, 2015

* Source: CFPB Complaint Database

Red Rock Tribal Lending response to complaint:
Closed with explanation

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