Complaint / review text:
I needed a loan due to unforeseen circumstances. LoanMart was very quick to get my information and I was approved for $2700 in Oct of 2013. I made monthly payments of $301 at 200% interest. I fell a month behind and asked if LoanMart can put the payment behind the loan amount and they refused. It's been very difficult to play catch up and they advised me that there was an $8 fee per day for everyday the account is late. We continued to make payments and as of today, July 11th, 2015, we owe a whopping $2923.94. If I pay this amount off, I would have paid around $9847.00.
I am frustrated and very sad that companies like LoanMart can do this to people who are simply trying to get by. I don't want to lose my car and I really need help in trying to understand how this can be legal. Please help.