American Web Loan Loan Reviews and Complaints

I had money to pay off my loan immediately so I do not get interest charged every day. I called the customer care department and I said I wanted to pay off my loan.

I was told there will me two separate charges on my pay day. One will be regular loan paymet The other charge would be pay off amount and will get an email that states the pay off. Unfortunately after my pay off amount loan payment was taken out followin pay day which was 15 days later. As I was waiting for a pay off e-mail onother 15 days later I was charged 67.43 dolars .

As you see this company does anything in their power to DELAY THE PAY OFF DATE so they can charge more interest. I do not recommend this company to anyone. They are a Money TRAP. I can believe how much interest I paid over a month.

The money I borrowed tripled to pay back. BAD EXPERIENCE.

Do not use American Web Loan. Twice I thought I had made a payment to the principal that they did not put through.

So when I went to pay off the loan it was double what I thought it was going to be and then on top of that the amount I was quoted online was $655 then when I went to call it was suddenly $675 because apparently you have to give two days notice to pay off your loan and there was a holiday on Monday so they added an extra day and more interest for them. They are beyond greedy and take advantage of poor people.

DO NOT USE them! They are dishonest and will scheme to get as much money as they can from you.

Took out a loan after a death last year. $1000.

Was told that it would be high and $400 a month. Not happy but figured I could pay it off at the beginning of the new year. Looked at last month's payment. $390 went to interest and $10 to principal.

Was told that if I paid off what's in the balance today, I would still owe $250 on the account. I do not have words for these crooks. I don't mind paying fairly for the money borrowed, but this goes beyond the pale. I hope these people are dragged into court one way or another and put behind bars.

I don't care if they are operating from a reservation or whatever. Worst experience ever, and truly a learning experience.

I borrowed $500 and they are now taking out over $1,600 back from me. I really am getting robbed here.

Paying back $1,100 for a $500 loan a joke. And they take it out ever paycheck and Robb my money every 2 weeks.

I applied for and was accepted to receive a loan for $300. I called to grt the balance after this *** *** company took 6 payments of $41.79 already out of my bank account thinking i would be close to paying it off.

Nope.

These *** had me on a payment plan to pay 3 times the original amount i first borrowed. *** AMERICAN WEB LOAN and you're retarded if you pick this company.

Needed a fast small loan of $1000, when calling to check balance on the loan. I'm thinking the balance would be lowered.

BUT It's higher then when I first started it. Now I get told, by the time it's paid off. I would owe them $4,799.00 for a $1000.00 loan. Just a HIGHWAY ROBBERY, for a person to pay with a low income.

A company like this should be SHUT DOWN and the Person that started this company should be BEHIND BARS... I to file for Bankruptcy because of this company.

Just so I can rebuild my credit and start my life all over. This Company is a Joke, when you have other bills to pay.

I was applied for and was approved for a $1500 loan. I was under the impression that I would be making 12 monthly payment of $273 which is crazy but I thought that with normal pay day loans having apr rates of %100 and higher, it was probably not unheard of.

Well boy was wrong. These guys expected me to pay $273 every other week for an entire year.

I cancelled the direct pay and then a recovery agent contacted me and told me I could pay $1200 to close the account. What a nightmare.

First let me start off by saying how appalled I am that companies like American Web Loan think that it is OK to rip people off who are barely making it! I applied for a small cash loan through wefixmoney.com and some how was transferred to AWL site who supposedly was the only qualified loaner available at the time.

When I submitted my application it stated that I was approved for $1100 and of course to a 27 year old who is in need of money what did I do? I took it all of course. Now I am a very earnest and loyal person who pays back all my debts to society no matter how long it takes. The unfortunate part is that I was blind-sighted by the terms and conditions of the interest rates that were NEVER disclosed when I spoke to the representative on the phone.

There was no way for me to access this information until I submitted all my documents and the loan was finalized. Not to mention I never received my login information on the day of applying for my loan to access the AWL portal. However when I finally called in and checked my balance to see how I was doing on my payments, that I was making every two weeks of $271.29 the system reported that the loan was still at $1100. So I spoke with a representative who then told me my payoff balance was now $1337.41.

So all this time I was thinking that the monies that I paid bi-weekly went towards the loan but I was sadly mistaken. All of $813.87 went straight to interest. Talk about PISSED I was furious and so heartbroken that I was taken advantage of this way. Graciously I was smart and canceled my auto-pay which put my loan in default which then stopped the interest.

I have now set up new payment arrangements with no added interest and will pay this off by March 2018. The sad part is that I will have paid an additional 1,051.28 over the life of this loan. In 2018, I trust NO BANK and NO loan company and I will be managing my own finances better moving forward. I'm sorry for everyone else how has gone through this because it really is disgusting!

Be smart and research before making rash decisions. Like I said i'm only 27 so i'm still learning but at least I know now.

American Web Loan had me making payments of $750 a month for 9 months and then told me I still owed MORE then my original loan. After all these payments and giving them almost $7000 they told me I still owed them $2095 and needed to pay them $375 for seven more payments!

and if I was to pay them seven more payments it would be $2625! The loan was for $2000! This is insane and I will not give them one more dime! I am reporting them to the better business bureau and have contacted my senator and I plan on continuing to do everything in my power to let people know how awful they are too deal with.

I called to actually ask them to not take a payment ONE time and they said NO, they had to take the payments. Found out from my bank that they were using multiple numbers to represent their company and take the funds out of my account, so if I was to stop payments in one way, they could use another number and still take the payment. Worked it out with my bank so they couldn't use any of the numbers, which of course cost me more money, but they will try multiple ways to get the funds if you try to stop them. AND now that I am not paying them I receive one to five calls a day from them telling me I need to pay or asking me how I am going to pay in full now!

Best advise, stay away, and I know it's tough when they make it so easy and act like they are taking funds off the principle,etc. but they are just crooks!

They are lying to you and you will pay 5 times the amount the loan was for....and that is crazy! Stay away from American Web Loan!!

Have been paying my loan only borrowed $500 missed one payment, they called said i owed over $500 which how is that if i only borrowed this amount and paid about six or seven payments, i think its very miss leading.

They lure you in with promise of lower rate and stick it to you. They currently have thousands of BBB complaints right now

I was in a bind truck out of commission 3 kids single mom. What was a $1300 loan turned into a $5,000 odd dollars.

After paying $2,400 in payment i thought i should've been finished paying the loan off. When i checked my contract again it was 499% Intrest rate.

I immediately became sick to my stomach. Still paying them off.

This is the most expensive loan ever! Ex: - you take out $1200 loan 12/1 - they will charge you $20 interest per day - your 1st payment date is 12/15 and they debit $277 (interest) from your account.

This pays the interest, not the principle.

Meaning you've paid them $277, but still owe $1198 ($1 of your payment goes toward the principle) - your 2nd payment due date 12/30 they debit $277 again from your account. The cycle repeats until you pay the $1200 back plus daily interest - DO NOT TAKE OUT A LOAN WITH THEM UNLESS YOU CAN PAY THE ENTIRE AMOUNT PLUS INTEREST BY YOUR FIRST PAYMENT DUE DATE!!!