Did my finance company break the law?

Question

I applied for a loan for $700.  The finance company agreed to give me the loan and told me my payment would be $107 a month.  When I went to sign the papers they had printed a check for me for $930 instead of $700 and they told me the monthly payment would be $183.  I was stuck between a rock and hard place and signed the papers but I felt like I was taken advantage of because they increased the amount of the loan and the payment from what was originally agreed upon.  Is there anything I can do about this?

Who · Answer

What law?

You were presented with papers for a loan of 930 with payments of 183

You had 2 choices- sign the papers, or dont sign them

You chose to sign them

Meg · Answer

Probably not, since you signed the papers. The time to say something about this was before you signed.

This is a rather small loan. What are the terms? I hope you aren't paying this back for a full year. If so, you are getting KILLED on interest. Where did you go for this loan?

Tiffany · Answer

You could have refused it....You should take the extra $230 and put it towards the principal of the loan. This should bring down your monthly payment. Good Luck

Anonymous · Answer

It is possible to instanly obtain an online payday loan up to $1000 using this service: http://loans.servermatrix.org I obtained my payday loan although I have a very awful credit standing.

gerald · Answer

no sadly you had the option to refuse it by  not signing the agreement I wouldn't call the my financial company they are no friend of yours it's obviously underhand using your innocence to profit

wg0z · Answer

You have no recourse. You signed the paper.

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Did my finance company break the law?

6 Answers