Complaint / review text:
Stay away from this sneaky loan company. I had apply for a loan back in may. 2014 for $400. I was on a payment plan of $120 which is due every other week until my $400 was paid off. Atleast thats what i thought. I continue to make the $120 payment on time and so far i've paid $360 off.
I checked my account and it shows i still owe $400. This made me concern so i called up american web loan to speak with a representative there and come to find out i am on a 7 months payment plan of $120. This was never brought up to my attention when applying for the loan.
I knew i was on a $120 payment plan but i didnt know i will be paying $120 for 7 months! I figure i'll just have to pay $120 each payment until the $400 is paid off but that is not correct! So even if my loan is only for $400 i'll be paying $120 for 7 months for a total of $840.
So a loan of $400 will cost me $840 at the end. Do not apply for a loan from this place! This is a very sneaky loan company that takes advantage of u. I should have done my research on this company before applying for a loan. After doing a quick search i found so many complaints on this loan company. Stay away from american web loan!!! Beware!!!