Reply by American Web Loan

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I borrowed $1000 from AWL in May of 2016 and set up auto payments of $179.29 every two weeks ($359 month). They NEVER explained that the payments would go to interest only, but they did tell me there would be 7 payments.

This would amount to paying back a total of $1255. So I agreed, because I really needed the money for my daughter who was ill and out of work and had two small children. I figured it was comparable to payday loans that are high interest. When the 8th payment was taken out of my account, I called them and was told, oh no, the payments would keep going until March, 2017.

I then closed my account in November and got a new one to prevent them from taking anymore money. By then I had paid them a total of $2334 on a $1000.00 loan! They called for a few months, but I would not answer their calls. Now a year later, I received a phone call by someone claiming to be a law office (from a similar number from before) saying I was being sued by AWL but I could agree just to pay them $1300 and they would drop it.

Then they told me that if I didn't pay that I would be taken to court to get 3X that amount from me. When I tried to explain what the nasty situation was (thought I was talking to a lawyer) he accused me of being untrustworthy, and a liar! Said he didn't believe a thing I said to him! I was pretty hot and then hung up on him.

Realized it was just AWL trying a different tactic. We will see if I get any "legal" paperwork in the mail or a court summons! These loans are illegal in Virginia and I found that out, unfortunately, the hard way.

I am going to contact the OAG here in Virginia. There is no way I am paying $4000 back on a $1000 loan and now they want more!

Product or Service Mentioned: American Web Loan Loan.

Reason of review: Problems with payment.

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To borrow 2500, they said, without blinking an eye! that my total of the 12 payment would be $14,376.00!!!!!!!!!!!

Kidding me!!!! I hung up


My husband took out a loan with them and we pay 218 every two weeks seems like it's never getting paid.They say they will help,if you can't mak the payment but they don't .Hes been bad sick and I have to and we don't have the money for Christmas and our kids but how do we stop the payments we been paying and get some satisfaction I know we have paid back enough to cover the loan.

Chippewa Falls, Wisconsin, United States #1331442

I hear ya. I got a 1000 loan and Im paying back 651.00 in interest even when I paid them ONLY 4 payments!!!


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