Big Picture Loans, LLC Payday Loan Complaint

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 Georgia

I inquired about the loan after receiving a letter in the mailast. I applied for the loan and was approved for $900.00, but only took $550.00. I was told that I had a small finance charge. I was not able to see the paperwork until after the funds were deposited into my account. I called and actually did not accept or sign anything initially, but funds were deposited. I thought that was how it worked. However, after I received the funds I read the paperwork and that 's when I discovered that over the next two years I will pay $2400.00 or more for borrowing $550.00. I asked about it and was told that if I paid it off early it would be $750.00. Which is reasonable, but that was only if I paid it off by the first payment. I have been trying to gethe them to reduce the interest charges, but they will not do anything about it.

Big Picture Loans, LLC customer in Georgia
Aug 13, 2016

* Source: CFPB Complaint Database

Big Picture Loans, LLC response to complaint:
Closed with explanation

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