Big Picture Loans, LLC Payday Loan Complaint

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 California

Unfortunately, I was in a position that I needed to take out a pay day loan. Much to my dismay I took a loan out from a very unethical organization. This company is - - -, It goes and has gone under multiple names, -, and has now changed its name to Big Picture Loans. I took out a $1400.00 loan with an 647.6971 % APR of and later discovered the " Truth and Lending '' disclosure after the fact. They are under the assumption that they are immune to the guidelines and laws of the Federal Government as they have tribal affiliation. This is simply not true. I literally thought I misread the agreement when they explained after I received the loan of $1400.00 but the document reads that I received $1500.00 and if I paid the - payments the total cost would be $14000.00. It is unbelievable that a company can get away with literally robbing the consumer. It sheds a bad light on organizations that make themselves available to loan money when you really need it. However when you need money you have to ask yourself ... at what price ... $1400.00 for $14000.00. -. This is a crime and should not be allowed. The hard financial situation is bad enough but that coupled with taking a loan from an organization that is taking more than full advantage of the customer is outrageous and needs to be remedied. In addition they are not licensed in the state of California.