I was buying a car and need to borrow 1000 dollars and sent application but kept getting denied until American Web Loan and they lent me 1200 and said that I would make bi weekly payment of 254 to pay off my loan but they never stated the interest rate. I still have the agreement I signed and all the agreement stated that payment would be making 254 each paycheck to pay off my loan and I could still pay it off if I paid it all at once. After 3 payment I THOUGHT I should be more than halfway done with the loan payment with maybe two more to go for interest. However I checked and I found out I was paying interest and the principal was only 6 dollars included in the payment. I was pissed because the guy did not tell me it was interest payments and the agreement I signed stated nothing about how high the interest rate is until after I signed agreement and I got a more detailed agreement in my account and Not To my email. | I am still paying g off even though I’m struggling worse since I took out this loan. I will have paid over 5000 for a 1200 loan and this agreement was never detailed until AFTER I signed and have Picture of the agreement! Do not use this loan they will rip u off.
American Web Loan