Welcome to the American Web Loan Community
American Web Loan's reply to: Ripoff
Ripoff
I just don't think it's legal or should be legal! I was behind on my car note due to sudden illness and borrowed $ 500 from these people, remember that I had to pay $150 interest even tho I thought it was a high interest on a $500 loan I said yes because I needed it.
Now they deducted $750 from my account when I called them I was told that I had to pay $150 from July to February every two weeks which= $2100.00 total. I live in Massachusetts I don't know what to do or what step to take because the lenders shouldn't be able to charge so much.
Preferred solution: Price reduction
American Web Loan's reply to: American Web Loan - Loan Review
American Web Loan - Loan Review
I borrowed 500$ thinking my loan was paid off they continue to take money from my account. I called them to see what was going on I was told I still owe $500 more when I told them all that was taken from my account by them I was told that was the principal.
These people are the most crooked I've run across .they need to be shut down.
I ask anyone going through a hardship just wait it out or you'll find yourself paying through the nose.really mad as *** in Atlantic City. Never will I recommend this company to anyone.learn from my big mistake trusting these people.
Same issue. Borrowed 500 and they took payments of 150 about 6 and I still owe 500?
They are insane.
I have use other loan companies and they have never done this. They are crooks
American Web Loan's reply to: This is how you resolve balances
This is how you resolve balances
American Web Loan is not recognized to do business in Oklahoma. Additionally, neither is the business accredited by the Better Business Bureau or act under United States law. To clarify, any money borrowed will not be recognized on a credit report because the U.S. does not recognize AWL as a legal company. They scammed you, now it's your turn.
Here is what you can do-
By law, any ACH transaction that you may have setup can be stopped. This is not U.S. law - this is through any contract agreement signed between the cardholder and the lending bank. AWL may not be recognized in the U.S. but they are required by merchant standards to obey credit card/debit card transaction law. Simply ask AWL to remove and revoke all pending or proceeding ACH payments.
What this means to you-
Your account will go into collections, but who cares? AWL won't show up on a credit report so it's like you never borrowed money from the start. They can't take you to small claims court thinking they will get your money because a court system is governed by state laws. In this case, they reside in OK but Oklahoma doesn't recognize them as a business. My story is a friend got screwed from this 'business' and I was intrigued to get his money back. What did I do? I borrowed $1000 and after four days I requested the ACH withdraw form or email address they are required to provide. I had my account shut down and quietly put $1000 in my pocket, to my friend's back pocket. Sure their 'recovery' department calls once every three months but what gives?
I already paid off my loan and they just kept on taking money out of my acct till the point where I had to close it. Now I get calls on my cell phone and work phone.
How do I get them to stop this?!?! Please help!!
What do you mean it is not accredited with the BBB or Act under US Law?
The BBB is a private organization.
It doesn't mean anything if they are not paying a membership to the BBB to be accredited.
I am curious though about what you mean about the Act under US Law? They too, have taken advantage of me and after having over $500 withdrawn from my account, I've had none of this applied to the principle balance.
The same thing happened to me they never put any money to principle after they said it would be appiled after the first. What did you do? Please help?
How can you scam them back if they never give you your money?
this sounds interesting. can you answer, what do you mean you 'requested the ach withdrawal form or email'?
and which account did you close?
your checking account?
thank you
PEOPLE, PEOPLE! IT IS WHAT IT IS
OH goodie another awl employee nut!!! So what did you get to post your crazy comment???
another Troll working for the Company
Totally Agree. Read your agreement before you sign it and PAY more than the deducted amount when you can.
American Web Loan's reply to: Review from Garland, Texas
Review from Garland, Texas
Please don't fall victim to this scam thanks to this company I'm homeless!
This company is worse than the Mob. I borrowed $900 and wound up paying back so far, $1300!
And it's still not paid off! And I sent them $600 every two weeks!
I wouldn't advise anyone to borrow from these people. Sure there nice on the phone, but they didn't tell me all of the terms and conditions and if I would have known, I would have never got this loan!
American Web Loan's reply to: BEWARE
BEWARE
I applied for a $700 dollar loan and was told that I would have to pay back $910. I was paying 210 every other week on the flex pay plan.
my last payment would have been the second week of august and it would have been for 80 dollars. 210 was taken out of my account. I called and the representative was rude and told me that I owed $700 dollars. I was crushed and now have to ask family to help me pay this money back.
I was so embarrassed to ask for money now I know I was better off asking family. please anyone who takes the AWL please more informed I have payed them $1750 for $700
American Web Loan's reply to: Stay away from american web loan!!!
Stay away from american web loan!!!
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!!!
They had Clarity Services do a check on my Credit Report for American Web Loan back in March 2014 and I have NEVER even applied to this company or ever!!! Now supposedly there is supposed to be yet another reporting agency besides Experian, Equifax, and the other one?? Check your credit reports!!!
This is the way all payday loans work. Most of what you pay each pay period is interest.
(Specifically, the first couple of payments are usually all interest and then subsequent payments are part interest and partly applied to what you owe.) As a matter of fact, all loans are that way. Interest is the way lenders make money. Whenever you borrow money (including buying a car or a house) you should read the terms of the loan to see how much you are paying all together.
It will always be more than the amount they loan you. However, payday loans have the highest interest so avoid them if you can.
American Web Loan's reply to: C'mon people...
C'mon people...
People! You have to read your contracts before agreeing to the terms, most issues I've read are due to a failure to understand the terms.
I took a $400 loan out to cover an emergency expense. This came with an EXTREMELY HIGH COST. The APR is 797%. Crazy right?
This means that every day, I'm paying $8.73 in interest to borrow this tiny amount of money. However, I had an immediate need for dough ASAP and this was an easy option. The loan was paid back in full in 8 days meaning the payoff balance = $469.84. $69.84 to borrow $400 for 8 days is absurd, but sometimes worth the cost.
Had I made the payments according to their schedule, the $400 would have cost me $1,560.00.
I'm not saying the interest charges aren't beyond ***, but when you take the money, you agree to them. READ THE CONTRACT and the Federal Truth in Lending disclosures before you borrow and save yourself a ton of money and frustration. These loans only make sense short term and when you can pay the whold thing off quickly.
If you don't understand the contract, DON'T BORROW! If you plan on making the payments as shown in the contract, you're basically saying "Please, take advantage of me and screw me over."
So this company took almost 500$ From me and I didn't get a loan. But to be honest I can't blame anybody but myself for trusting them, and did some research on them.
All I can say is yes this was my fault but guys don't trust them cause I did and they Robbed me and I have no one to blame but myself. Thanks Calvin.
American Web Loan's reply to: Thieves- Over charged and was no given a refund!
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.
Verified Reviewer | Sunnyvale, CaliforniaThieves- Over charged and was no given a refund!
Horrible! This company is a bunch of crooks!
I was charged $210 weekly for 2 weeks and I get paid bi-weekly. I tried to get a refund on the extra payment and was told there was nothing they could do. Not only do they charge ridiculous interest but they robbed me of $210. I was so frustrated with this company I was shaking.
I asked to speak to a manager and he kept trying to re-direct my focus to other aspects of my loan. This was the worst experience I have ever had with any company in any industry.
I'm not usually one to complain. This is stealing in my book and most other people's too!!!
American Web Loan's reply to: Review from Sharonville, Ohio
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.
Verified Reviewer | Sharonville, OhioReview from Sharonville, Ohio
I applied and was approved for a loan of $1100. The explanation of the payback plan was extremely vague but I was explicitly told that the finance charge was $330 and would be my first biweekly payment.
I initially agreed to the loan terms and conditions, accepted the loan over the phone, that I was emailed a generic outline of the payback plan. It stated that the loan term was 7 1/2 months long and that my payment of $330 biweekly would continue until the principal balance is paid off. That doesn't sound too bad, sounds like it would be paid off in about two months time. There was one last sentence that changes everything and it reads as follows; only your last 3 payment are applied to the principal balance, your other payment are interest only.
I immediately called to verify what I was reading and comfirmed with a representative that this agreement is for 15 payments of $330 biweekly. I stated that the loan has not been funded and I would like to cancel. The rep. Stated that the money had not been sent from them yet and that he has went ahead and canceled everything for me.
Only time will tell if I am actually going to be charged for anything this far. This company is predacious in there approvals and I will not reccomend them to anyone for any reason
I have a complaint also. Could you please add your complaint to Google under the reviews for AWL?
I'm really frustrated with this company and would like to see 100 bad reviews on Google by the end of this week.
When this company pops up in a Google search, other consumers will be able to see these bad reviews. Help me if you can!!!
@ryan.bilger55 Did you get the 100 bad review's? I hope you did
American Web Loan's reply to: American Web Loan - Loan Review from Pittsburgh, Pennsylvania
American Web Loan - Loan Review from Pittsburgh, Pennsylvania
They loaned me $500..during initial conversation they said my last payment of $150/2 wks would be 5/5/2024..it is now 7/7/2014 and they r still taking money..I called them 2wkd after 5/9, when they TOOK another payment n they said they never tell anyone the end date and now my last payment was to be 6/19..they took another payment
I've read many of these negative reviews. You people need to remember who your borrowing money from.
I've also used awl and was quite happy with them. Although the interest is crazy high, I had no choice but to use them. Let's be honest, if we were all people with good credit we would take out a conventional loan from a bank and pay low interest over 2-3 years to pay it back. Online cash loan providers are here to serve people with poor to fair credit who can't get a regular loan.
It's not their fault if you don't read the fine print and ask questions. If you only pay the minimum amount, you won't touch your principal for almost 6 months.
American Web Loan's reply to: American Web Loan will end up Ruining your credit rating regardless !
American Web Loan will end up Ruining your credit rating regardless !
I took out a loan with American Web Loan and paid it all back including the outrageous interest rate so my credit would not be impacted. And then for 2013 tax purposes they mailed me a 1099 that indicated that my debt was cancelled, however I am liable to pay taxes on the amount.
So my credit shows a charge off of $1,600 (that I paid) and now it has been recorded that I owe the tax on the amount to the IRS.
So perhaps it doesn't matter if you pay back the loan and the crazy interest rate and fees.
I have a complaint also. Could you please add your complaint to Google under the reviews for AWL?
I'm really frustrated with this company and would like to see 100 bad reviews on Google by the end of this week.
When this company pops up in a Google search, other consumers will be able to see these bad reviews. Help me if you can!!!
American Web Loan's reply to: 400.oo loan turned into 1500.00
400.oo loan turned into 1500.00
They do not apply any of your repayment back to the principle. A 400.00 loan turned into.
A 1500.00 loan. Never was up front with details. Horrible business practices. It's just another shady company.
When you go and check up on your loan online extremely little information is given. This is a extremely more frustrating when you pay back on time and none of the money and I do mean none is going to help payoff the loan only to intrap you to pay back 3x what the orginal was worth.
These are sharks in lamb clothing. Do not use this service.
I have a complaint also. Could you please add your complaint to Google under the reviews for AWL?
I'm really frustrated with this company and would like to see 100 bad reviews on Google by the end of this week.
When this company pops up in a Google search, other consumers will be able to see these bad reviews. Help me if you can!!!
American Web Loan's reply to: American Web Loan - Loan Review from Newark, New Jersey
American Web Loan - Loan Review from Newark, New Jersey
My daughter with my permission have taken loans from AWL & she handle them, this last loan she took out I'm handling since she's out of the country, I find out that there are multiple payments of $270 which will reach over $3000 before any amount will be applied to the principal loan of $1000, this can't be legal, is it?
I will be contacting the better business Bureau ,I was informed that there was a $270 interest fee & understood the remaining payments went towards the principal, the interest amount on this can't be legal, & I'll have to have this investagated
curious to know what you found out
thanks
American Web Loan's reply to: Also Pissed Off
Also Pissed Off
Same complaint as others I have seen....Charging $150.00 every two weeks for borrowing the loan amount...actually I am paying $300.00 every month for a $500.00 loan. ABSOLUTELY RIDICULOUS.
CSR stated that it was in the paperwork...bs seriously who reads the paperwork don't they get paid for mentioning that information...would be no one borrowing money if that was mentioned up front!
WILL NEVER DO THIS AGAIN OR WILL I RECOMMEND TO ANYONE...COMPLETE RIP OFF. I hate to imagine how much money I have actually paid this company a *** of a lot more than 500.00
Anonymous is correct. This is just another example of the Obama Generation...millions of people so dumbed-down by our media and public schools that they can't even think for themselves anymore, or take responsibility for anything.
You are an adult...read the terms before you sign on the dotted line, sheep.
This guy in the bottom works for this *** hole company, can't stand companys that do this to people
It's your responsibility to read and understand the documents before you agree to them. It's not their fault -- you're an adult and agreed to those terms.
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FYI, PAY DAY LOANS ARE NOT ACCEPTABLE IN MASS, LOOK AT THE LAWS.
They told u what they charge when u got the loan...the problem is u just wanted the money n didn't listen to the rules...u moved too fast without listening or thinking about it so Y blame them...own up to your stuff n quit blaming others
They are a {{Redacted}} company that is not governed by U.S. Federal guidelines.
Every two weeks you are paying the interest. You are paying $250 in interest which is 30%. This still leaves the original $500 principal. The best thing you can do is make an additional principal payment for as much as you can afford.
If you make a payment of $100 to your principal that is going to bring your principal down to $400 then your 30% interest payment is going to go down to $120.
Just keep paying on that principal as quickly as you can. Even if you have to get a cash advance on a credit card to pay this off, just do what you can.