Mobiloans, LLC Payday Loan Complaint

Mobiloans, LLC Payday loan department,

Payday loan Can't stop charges to bank account Can't stop charges to bank account Virginia

Second complaint I applied for a mobiloan loan in - - and received my first statement on -/-/-. With an approval of $1200.00. Mobiloans hides behind the false claims that this is a revolving line of credit however my payments averaged $160.00 to $150.00 dollar every 2 weeks. I am being charge along with my payment a cash advance fee averaging $75.00 every 2 weeks because the account has a balance. Mobiloan loans only applies an average of $45.00 towards the principle. The loan limit was never increase however just like anyonline cash advance loans you can borrow up to the balance of $1200.00 when you make your - week payments. Mobiloans gets awaywith not posting a high interest rate by camoflaging it with a finance charge of $73.00 to $75.00 every 2 weeks. Technically this interest rate hidden as a finance charge is over 90 % After a year - - Mobiloans will not allow you to borrow towards your - limit until the balance is paid in full however they continue to charge the finance as a fake high interest rate every - weeks that will never allow me to get out of this fake line of credit


is like a credit card the annial percentage is about - to 28 % and the most finance charge is around $30.00 a month based on thr $1200.00 instead ot is just like a pay day cash advance $320.00 fees towards a $1200.00 cash limit. I have paid an average of $3200.00 for this loan. When I had a balance around $550.00 it was added to this loan the most $1700.00 average total in loans. The payments I made was paid twice and still have a $1700.00 balance and at thay time I would have paid over $5000.00 for $1700.00 in loans this is legal loan sharking and predatory loan practicing under the umbrella of a line of credit this is a loan from the United States not overseas predatory lending should be banned i. The -