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 California
I had applied for a loan from Big Picture Loans in the amount of $600.00. I was told there would be a finance charge of $150.00, which was n't an issue since I was expecting some sort of interest charge to be accrued for borrowing money. I agreed to the finance charge and the loan was processed. After processing the loan, I was provided with the Loan Agreement, where I noticed in the Truth-In-Lending Disclosures there would be additional finances charges for the remainder of the loan in the amount of $2600.00 ( which was broken down over - payments ), totaling the loan to be $3200.00 - this is not what I was expecting when asking to borrow such a small dollar amount and if I were made aware of these fees before the loan was processed, I would have never processed the loan. But unfortunately for me, the loan was processed first, and then the loan documents were available for me to view AFTER everything had been finalized. This is beyond ILLEGAL, and I will proceed with further action.
Big Picture Loans, LLC customer in California
Jul 14, 2016
* Source: CFPB Complaint Database
Big Picture Loans, LLC response to complaint:
Closed with explanation
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