i took out a loan for $300.and was told the paymen

i took out a loan for $300.and was told the payment woud be $140 per month and they took $412 and 50 cents out of my account whatdo i do?

5 Answers

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First off you need to provide more "guts" on what type of loan, what type of entity loaned u the funds. Your question is to superficial for a valid and detailed response..


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If this was a payday loan you'll need to review your contract for repayment.  They have tricky contracts that can boost your interest rate if you are 1 day late on the payment.  They might have forgot to make your payment on the proper day on purpose or by mistake that triggered that increase?


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In addition to closing down the account, get the copy of the debit from the account. Then talk to the payday loan company about this unlawful debit. If they agree to return you the money then well and good. Or else you can file complaints against them with your State's Attorney General.


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You can also ask your bank branch manager to put a hard debit check on your account. This way they won't be able to make any withdrawals from your account.


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They have taken out more than the loan amount that you've borrowed from them. I will suggest you to close down your bank account in order to stop them from debiting any further money from your account.


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