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The purpose of shorter duration loans is to provide the borrower temporary financial relief. Such loans are not a long-term financial solution. Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice.
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The borrower expected that the loan would be repaid in a single withdrawal of 390. But the lender began a series of automatic withdrawals, assessing a 90 finance charge each time. By the last withdrawal, the borrower would have paid 975 instead of 390 to repay the loan. In addition to allegedly misrepresenting the terms of the cash advance savannah tn, the lenders doubled as unscrupulous debt collectors who falsely threatened to sue the borrowers or have them arrested. Risks of Sharing Your Personal Information.
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