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 Florida

I am a single mom of - small children. Out of desperation I took out a loan for $970.00 to catch on bills. I have made - payments of $340.00, due every two weeks to pay it back. I knew I was getting close to paying it off so went in the system to check it out. Everything let me to believe the payoff balance was $1300.00, this would have been my last payment. What I found has left me speechless. A loan for $970.00 is showing a payback of $9400.00 with apr at 868.3411 %. Are you kidding me? Is this even legal? When I called they simply said I could to an early payoff of $1400.00, not a problem except I 'm paying $680.00 every month towards this loan and will never have the money to pay it off. How is this possible? It is robbery! This company is scamming people and making tons of money on doing so. I have no problem paying back a loan but anyone can see this is not acceptable/ethical and they must be stopped. The loan payment documents were not clear or I would have NEVER taken it to begin with, nor would anyone else in their right mind. I have read so many reviews and they are scamming people all over the world. This in hopes that they will be stopped from taking advantage of hard working Americans and hoping that I can find a way to rectify so that no further payments are deducted from my account. Thank you.

Red Rock Tribal Lending customer in Florida
Oct 02, 2015

* Source: CFPB Complaint Database

Red Rock Tribal Lending response to complaint:
Closed with explanation

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