Small personal loans raleigh nc

The lenders claimed that the repayment amount would be the amount borrowed plus a one-time finance fee, and that this amount would be withdrawn on a particular date.

Instead, the lenders made multiple withdrawals from the borrowers' bank accounts and assessed a new finance fee each time. The result of this scheme. The borrowers paid much more than the stated cost of their loans. In a typical example, a person borrowed 300 with a stated one-time finance fee of 90.

The borrower expected that the loan would be repaid in a single withdrawal of 390.

Small personal loans raleigh nc

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Small personal loans raleigh nc

I was already having health problems before this so I had to retire and go on full disability. My sister was also laid off leaving me with the debt. Since I have been paying Sallie Mae has agreed to accept 6,000.

00 to buy my name off the account. I did this on the first week of December 2014. I was promised a statement letter saying that I was released from the debt but it is the end of January 2015 and have not yet received it. I have called three times, most recently on the 20th of January.

Small personal loans raleigh nc