Cash Store in Benton!

Cash Store in Benton!

Posted in the Benton Forum

Livid Lady

Du Quoin, IL

#1 Feb 16, 2012
I went into the Cash Store in mid December to get some extra Christmas money. I was very skeptical and was not going to walk out of there if I knew I was going to get screwed! I made it clear and I sat there for 30-40 minutes so they could figure up exactly how much I would be paying because I was NOT going to be a sucker! I borrowed a mere $350 against my car. This is a very small amount of money might I add. Just wanted a little extra. They explained to me that my first payment would be due on Jan. 14 in the amount of $140 dollars. I was very adamant and wanted them to figure up (with interest included) what my payment would be if I paid it off on Feb. 10th. They proceeded to tell me that my LAST payment would be $260. I thought well $50 wasn't too bad for $350 for two months. NOW, the crooked place is saying that my payment is $600!!!!!! WTH?! They actually sat there and lied through their teeth! I'm paying $740 dollars for $350!$4 a day interest! That is $120 a month just in interest. My payment in January was $140....$128 to interest and only $12 to my principal balance!
But, what the hell can a person do?? They have my car title! Now, I will have to proceed to walk into that dump and give them my rent money. If I don't the interest is just going to keep building up! On their website they advertise competitive rates....this is definitely false advertisement because is that is, in no way, a "competitive rate".
Has anyone else had problems with this business? I thought about filing a complaint with the BBB which is really not going to do myself any good, but we need people to be aware! If I needed help with $350 how in the hell do they think people can afford to pay back $740?!
roflmfao

United States

#2 Feb 16, 2012
Are you being penalized for paying it off early? Or was it set in the contract that you can pay it off in 2 payments? I know most loans go for a year, small usually go 3 to 6 months. if you pay it off before then, you can get a hell of a penalty. Idk if that is the problem or not, just a thought. Good luck!
dont use them again

Murphysboro, IL

#3 Feb 16, 2012
Don't use them again, and spread the truth of these shyster like companies. Do you have a written contract? If not, it's your word against them, but they have to follow the law and you have rights, I recommend that you talk to your local state representative and ask them for help, these type of stores do have regulations and they will not like the fact that you are calling in authorities to look at their business practices. Good luck, and don't use them again.
buzz

Mena, AR

#4 Feb 16, 2012
Fkn loan sharks should be run out of town.
Amy

Benton, IL

#5 Feb 16, 2012
u should post the employees names here. Maybe our friend jester will run down some information on the jackasses.
Livid Lady

Du Quoin, IL

#6 Feb 16, 2012
There was no penalty for paying if off early. The interest is accrued daily at $4! When I went to pay if off today I looked at their yearly percentage rates and they range from 300-400%! This should be illegal. Trust me, I let her know how upset I was. She had the nerve to inform me, that if I referred someone that I would get $100. I looked at her and said "I would never refer anyone here, they would probably shoot me in the head if I did." The thing that irks me the most, is the fact that I asked her in December to tell me what my final payment would be and she gave me the principle amount. She said that they have better rates than any other loan company around! I tried making a report through the BBB this morning but that branch is not listed on their website. I just might have to give them a call.:) I also got my title back and it says that it's a "corrected" title now. Going to look into what that means exactly.
Livid Lady

Du Quoin, IL

#7 Feb 16, 2012
Okay, I'm good on the corrected title. That's no biggie....it's because they released the lien. I also had to pay $98 to the state for my title being sent in. BEWARE of these places, no matter the bind you're in!
peter griffin

United States

#9 Feb 16, 2012
Anyone k˝ows that whenever you take a lien out on a vehicle theres a state fee that has to be paid. Ive gotten a loan there and they clearly go over the contract. They did with me at least. If they didnt go over the contract (which im sure you got a copy of), maybe you should call their corporate office instead of slandering the workers on a stupid website. Also they have posters on the wall showing payback amounts, right? Open your eyes and read before you sign a contract, lady! lol.
Livid Lady

Du Quoin, IL

#10 Feb 16, 2012
Well, family guy....I'm not necessarily bashing the workers. They were actually very friendly, but I feel sorry for them working for a place that plainly screws people over. They were not clear about the contract and blatantly lied to my face. I didn't necessarily have an amortization calculator with me at the time of taking the loan out and that was their job to be clear about the stipulations, which was not done. Just trying to get the word out from my own experience. I'm actually using this site in the manner originally intended.....opinions. I would never put anyone's name on here like most people. I understand you also have your opinion and I have respected that. Thank you. :)
Really

Herrin, IL

#11 Feb 16, 2012
Plainly screws people over? No one tied you up and made you go in there in the first place, everyone with half a brain knows what those places are for, to charge the desperate people an arm and a leg in interest for a few bucks.
Nope

De Soto, MO

#12 Feb 16, 2012
lol.

"I took a pay day loan and expected a good deal!"

What a genius.
buzz

United States

#14 Feb 17, 2012
Sandy wrote:
Lets go tar and feather the employees and beat the owner with bars of soap in socks?
Lets do.
Get REAL

Mattoon, IL

#15 Feb 18, 2012
Sandy wrote:
Lets go tar and feather the employees and beat the owner with bars of soap in socks?
They have a pretty good camera security system there and panic alerts too, so if you want to go to prison, go for it.... They will have the last laugh
Get REAL

Mattoon, IL

#16 Feb 18, 2012
peter griffin wrote:
Anyone k˝ows that whenever you take a lien out on a vehicle theres a state fee that has to be paid. Ive gotten a loan there and they clearly go over the contract. They did with me at least. If they didnt go over the contract (which im sure you got a copy of), maybe you should call their corporate office instead of slandering the workers on a stupid website. Also they have posters on the wall showing payback amounts, right? Open your eyes and read before you sign a contract, lady! lol.
Couldn't have said it better myself!!
wtf

Russellville, MO

#17 Mar 10, 2012
CROOKS!!!
Geez

Des Arc, AR

#18 Mar 10, 2012
That place is clearly a rip off! And yes they have it all over the walls. People seriously need to read the stuff instead of just listening to what they tell you. They did the same to my mom and the whole time I was trying to tell her what the signs said, but they do make you think that you won't be paying back what the sings say if you pay it off sooner. So she's not lieing the place is seriously a Joke.
Usedcardealer

Herrin, IL

#19 Mar 10, 2012
Lisa Madigan......Illinois Attorney General!
Suck it up

Chicago, IL

#21 Mar 20, 2012
Suck it up and get up the courage to borrow money from a friend or family. The cash store is a legal loansharking business no different than mob loansharking, no different. Their interest rate is 400% btw, I was in there with a friend who was making a payment and I nearly crapped myself when I read that. Places like this have been banned from being near military bases because they were loansharking the servicemen that were between paychecks. How places that operate like this are legal are beyond me.
ex employee

United States

#22 Mar 25, 2012
I used to work for the cash store in another town but they are owned by the same company. Cottonwood financial in irving tx. Their loans are ridiculous. If you borrow $5000 (thats the max u can borrow ) for your car and keep the loan out for the full year, you end up paying over $13000. I wouldn't recommend anyone go there. However their ratez are clearly stated on the front page of the contract!

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