I applied for a payday loan with Money Mutual and they found a lender "Ameriloan" that would provide me with $300.00 to help cover my car note that I was a few hundred short on for the month of July. I read over the Contract that I printed off and submitted the application and was approved. The payments would be $90.00 to be debited from my checking account every two weeks until the loan was paid in full. I was fine with that until I called on Sept 3, 2010 and was advised that the 4 payments of $90.00 that was taken did not go toward the principle balance of my loan but toward the service fees. I am a Mother of 3 growing boys, I do not have money to just throw away like that at all. I have filled with the BBB and will be pursueing every method possible to stop this from happening to someone else.
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