Home Page >> Complaints

Loan Max, possibly, overcharging.

Submitted 2007-10-01

Defendant: Loan Max

I got a $1,200.00 loan on my car and did not understand the interest rate. I saw 300% but did not know exactly what that meant. Now we have gotten to the point where the payments are so high we can't get caught up. They are threatening to take the car. I as well as them should have realized that I did not earn enough to make the payments, but they did not even ask how much we made. Can they charge that much interest?

-- West Virginia


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