I recieved a$500.00 loan from loan Point usa in 2008, I understood that they would deduct by weekly paymentsd from my bank account until the balance was paid. However, to my understanding the fee would equal $120 .00 which equals $620.00 repayment total after repaying close to $700.00 and numerous phone calls wih rude reps., from loan point I realized it was never going to end, so I had my bank stop payment on any future ACH transactions from them. I didn't here anything for a long time until a few months ago when I began recieveing collections calls, then I recieved a disturbing call from an attorney saying a warrant would be issued for my arrest for check fraud if I didn't pay $1700.00 of course I did all while feeling violated I am now looking for an attorney to start proceedings I know this is a scam and someone has to do something about it .

Loan point usa loaned me $400 and it ended up costing me over $1000 in the end. They automatically withdraw the money from your checking account and none of it goes to paying back the loan, it is an extension fee. They dont give you enough time to pay back the money. They dont notify you that they are going to start withdrawing money. They dont send emails with any monthly statement activity. This company needs to be shut down. They take advantage of people when they need help.. I filed a complaint with the better business bureau.