Everest Cash Advance fraud, false advertising, misleading language Wilmington, Delaware

6th of Jan, 2012 by User896857

In October 2011, my husband borrowed $500 from this company. He and I both spoke to the loan agents and were told that the money would be wired to his bank account the same day and that he would pay back a total of $580 for the loan and interest. Beginning the following pay day, the company debited his account $150, then $75 the following pay day. After that, they debited $150 for the following pay days. By the end of December according to what we were told he should have only owed another $55 to cover the loan. However, the company showed that he still owed a total of $650 - $70 more than what he was told when he initiated the loan. As it turns out, the company was charging him a $150 finance charge every 2 weeks, which was never stated in our conversations with the loan agents. At that point, my husband closed his bank account and opened a new one and we immediately reported to the Better Business Bureau. To make things worse, because of a banking error, his account was reopened and the company took another $150. So to date my husband has paid $675, almost $100 more than he was told he would owe. This company was very misleading. We would never have done business with them if we had known we were expected to pay back $1,150 on a $500 loan.

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