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I contacted Cashnet about a loan in October 2024. I got a loan from them. I paid off the loan on November 24, 2024. I was charged $920.41 interest for two months. Is this possible? That much interest seems unreasonable. Then when I talked to an rep for cashnet he said I owed $34 more for two days interest. I have never heard of a company charging over $900 for two months on a loan. What can be done?
Glen Abbott
[protected]
Claimed loss: $784.00
Desired outcome: I want some of the $784 back.
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The loan agreement should outline the fees and the due interest, but if the fees seem too high then you should take the matter up with CashNet for further clarification. In terms of deciding whether the fees must be paid, you may also consider talking to an advisor or a lawyer where possible. Make sure that any payments made are fully documented in the records.