Only a fraction of that money goes to tribal affiliated lenders. Angela Vanderhoof of Olympia, Wash.borrowed 400 from OneClickCash in October 2010, not realizing she would eventually pay 690 in interest on her loan or that she would be hit with as many as four overdraft charges on her checking account in a single day. The withdrawals left her nearly penniless, she said. When she talked to the Center for Public Integrity last fall, she wondered if she would ever be able to get any of that money back.
Today, shes one of the borrowers listed in the FTC court documents.
67, with a total payback amount of 6,320. 12 which including the 8 fee paid from the loan amount, would have a total cost of 1,720. Representative 18. 23 APR. ARE THERE ANY FEES. Our services will always be provided free of charge, but that is not to say that the lender will give you a loan for free.
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