I had just lost my job due to new hours the office was open and I was a college student at the time. I had school books and everything to buy so I took out a $200 loan from Ameriloan. I had never done a cash loan like this before so I was a little nervous. I called the company and they explained what I thought would be my loan terms. It all sounded ok, so I felt at ease. As of today I have paid $420.00 towards my $200 loan and they still keep debiting my checking account. I called the company again and they told me they had just been charging service fees and that I still owe 180.00 on the loan. I explained how I had gone through all the information with someone over the phone and they told me I would be paying $280.00 for the $200 loan in the end and now I am paying three times my loan amount. Plus, they are selling my information to other companies who continuously call me. The woman I spoke with from Ameriloan told me most of the amount I have paid was service fees they charge to take money out of my account and that not much of my loan was actually paid off yet. The lady was very rude and told me that I agreed to these terms and they dont have to give all details over the phone about service fees because I signed the agreement. I have never felt so scammed in my life!! I would never have done this if I knew I would be paying more for my cash loan than for an entire semester of college!!!

Consumer27
Fargo, North Dakota
U.S.A.