Risecredit, LLC Payday Loan Complaint

Risecredit, LLC Payday loan department,

Charged fees or interest I didn't expect California

Making ends meet was becoming a difficult task for her. When she searched for a way to cover her basic living expenses such as bills, rent, school, and food, she found the online lender RISE. At - she took out a $500.00 loan. She was able to steadily pay back the loan, but it was not enough and the added expenses of that loan resulted in her returning for a - loan in - of 2014. This time around she borrowed $3000.00 from RISE. She paid the lender $280.00 every - weeks, and the nearly $600.00 a month was a big burden for her. She found herself falling behind on bills and rent. Due to her unsteady financial situation she faced eviction and had to leave her home. Paying back RISE was becoming harder to do and the high interest made her debt continue to grow. On - occasions she acquired overdraft fees from her bank because she did not have enough funds in her account to cover the loan payment. She paid $240.00 in overdraft fees alone. In addition, she received many phone calls from the lender reminding her that her payment was due. Although they were not threatening


to pay back the loan. In - 2014 she decided to default on the loan after paying $4000.00 to the lender for a $3000.00 loan. She was forced make arrangements with the bank so that the lender could no longer access her account and take the biweekly payment. At this point, she does not know how much she owes RISE. But she does know that she paid $1000.00 in interest and still owes the lender for her loan. She believes that if the interest rate were not so high, she would have been able to pay the loan back without having to default. Unfortunately that is not the case and she still has an outstanding debt for a $3000.00 loan after paying the lender $4000.00.