I was in a rough spot in February and took out a $400 loan from Green Trust. I was starting a job shortly after taking out the loan, and thought I would be able to quickly pay the principal down, as the $57 weekly payment over the course of six months is extremely excessive.
I reached a point where I thought I was comfortable making a large payment on the principal (hoping to either pay it off or get close). When I called and finally connected with someone I was informed my principal amount was still almost $300, and this was just a few weeks ago! I couldn't believe that after four months the principal balance was still so high, so I started doing research.
My loan claims to have an APR of 697% if the loan repayment is carried out over the full six months. The reason the loan cannot be paid off early (at least not comfortably) is that the interest compounds weekly.
After figuring out the amortization schedule, the payment towards the principal balance doesn't even reach $10 until the 14th week of the loan. Furthermore, the interest actually calculates out closer to %712. That is a finance charge of nearly $1,077!!!
Please, PLEASE, do NOT accept a loan or do business with this lender! It may seem like a good short-term solution, but it bears long-term consequences. The loan will trap you into paying nearly three times the amount you borrowed. Had I known then what I do now, I would have pawned personal items rather than accepted this loan.
Called and inform them of the situation, they have no ability to accept payment from savings account or paying thru credit card. Customer service told me to send money thru money order and via overnight mail, fed ex or Ups. Turns out, Fed ex or UPS cannot deliver it thru their P.O box . I"ve sent the money order thru express air mail August 10, 2017. They sent me an email telling them I owe them money., and will be in collection in 7 days, if I don't pay them. This lending company is the worst I' ve been to. Customer service is horrible . They don"t have any means of getting their payment from you if you don't have a checking account. Beware of lending company that uses P.O box. Bad nightmare
I took out a $500 loan from Green Trust Cash on 06/01/17. They insisted that I would have to let them set up the installment payments by automatic withdrawal. I have been making payments of $111.89 every 2 weeks since 06/16/17. I called to get a payoff amount and was told it was $944.89! The only other alternative would be to continue making the $111.89 payment every 2 weeks until 12/01/17. If I go that route, the total amount I will end up paying a total of $1444.89!
If I was initially told this fact, I wouldn't have proceeded! What a disappointment and huge waste of time! I'll be submitting this as a review for your company! Very dissatisfied customer,
I asked numerous times what your company's requirements were in order to qualify for a loan. I've now just wasted 2 days of my time only to be denied because I don't have 3 direct deposits in my account! Poor customer service! If I was initially told this fact, I wouldn't have proceeded! What a disappointment and huge waste of time! I'll be submitting this as a review for your company! Very dissatisfied customer, Linda
On 10/ /17 I received a email and a phone call from someone at Greentrust Loans advising me that I was approved for a $400.00 loan. Being at a point in time that I could use $400.00 to pay some bills I called Greentrust Loans to inquire about the loan process.
I spoke with a man named Donald and he went over the loan process with me and advised me that I had several options to repay the one. The option I choose at the time was payments of $155.00. I repeatly asked Donald if this was a scam and if the payment option I chose was correct because they had so many scams going around before I signed the documents. He assured me that it was correct but I had to wait a couple of days before the payment was due before I can call in and make the arrangements.
On 10/16/17 I received a email advising me that I had a payment due in the amount of $136.71 and it would be coming out of my account on 10/20/17. After receiving the email I called Greentrust Loans to advised them that I wanted the 4 payment plan of $155.00 (Total $620.00 $220.00 loan fee) . The lady that answered the phone told me that was not an option and I explained to her about the conversation that Donald and I had. She told me she was going to speak to a supervisor and call me back within a hour. After not hearing back, I called Greentrust again and was told the suoervisor was going to listen to the recorded conversation between myself and Donald.
Still no call back and I called Greentrust (3rd call) again to be informed that the conversation between Donald and myself he was giving me an example. I explained to her that at no time was the word example used in our conversations, this was the terms I agreed to. I then told her that I knew that they were going to try to pull some kind of trick. She placed me on hold supposely to talk to her supervisor and returned to the line with a different pay schedule as follows:
Green Trust Cash, LLC. Reviews
I was in a rough spot in February and took out a $400 loan from Green Trust. I was starting a job shortly after taking out the loan, and thought I would be able to quickly pay the principal down, as the $57 weekly payment over the course of six months is extremely excessive.
I reached a point where I thought I was comfortable making a large payment on the principal (hoping to either pay it off or get close). When I called and finally connected with someone I was informed my principal amount was still almost $300, and this was just a few weeks ago! I couldn't believe that after four months the principal balance was still so high, so I started doing research.
My loan claims to have an APR of 697% if the loan repayment is carried out over the full six months. The reason the loan cannot be paid off early (at least not comfortably) is that the interest compounds weekly.
After figuring out the amortization schedule, the payment towards the principal balance doesn't even reach $10 until the 14th week of the loan. Furthermore, the interest actually calculates out closer to %712. That is a finance charge of nearly $1,077!!!
Please, PLEASE, do NOT accept a loan or do business with this lender! It may seem like a good short-term solution, but it bears long-term consequences. The loan will trap you into paying nearly three times the amount you borrowed. Had I known then what I do now, I would have pawned personal items rather than accepted this loan.
Called and inform them of the situation, they have no ability to accept payment from savings account or paying thru credit card. Customer service told me to send money thru money order and via overnight mail, fed ex or Ups. Turns out, Fed ex or UPS cannot deliver it thru their P.O box . I"ve sent the money order thru express air mail August 10, 2017. They sent me an email telling them I owe them money., and will be in collection in 7 days, if I don't pay them. This lending company is the worst I' ve been to. Customer service is horrible . They don"t have any means of getting their payment from you if you don't have a checking account. Beware of lending company that uses P.O box. Bad nightmare
I took out a $500 loan from Green Trust Cash on 06/01/17. They insisted that I would have to let them set up the installment payments by automatic withdrawal. I have been making payments of $111.89 every 2 weeks since 06/16/17. I called to get a payoff amount and was told it was $944.89! The only other alternative would be to continue making the $111.89 payment every 2 weeks until 12/01/17. If I go that route, the total amount I will end up paying a total of $1444.89!
If I was initially told this fact, I wouldn't have proceeded! What a disappointment and huge waste of time! I'll be submitting this as a review for your company! Very dissatisfied customer,
I asked numerous times what your company's requirements were in order to qualify for a loan. I've now just wasted 2 days of my time only to be denied because I don't have 3 direct deposits in my account! Poor customer service! If I was initially told this fact, I wouldn't have proceeded! What a disappointment and huge waste of time! I'll be submitting this as a review for your company! Very dissatisfied customer, Linda
On 10/ /17 I received a email and a phone call from someone at Greentrust Loans advising me that I was approved for a $400.00 loan. Being at a point in time that I could use $400.00 to pay some bills I called Greentrust Loans to inquire about the loan process.
I spoke with a man named Donald and he went over the loan process with me and advised me that I had several options to repay the one. The option I choose at the time was payments of $155.00. I repeatly asked Donald if this was a scam and if the payment option I chose was correct because they had so many scams going around before I signed the documents. He assured me that it was correct but I had to wait a couple of days before the payment was due before I can call in and make the arrangements.
On 10/16/17 I received a email advising me that I had a payment due in the amount of $136.71 and it would be coming out of my account on 10/20/17. After receiving the email I called Greentrust Loans to advised them that I wanted the 4 payment plan of $155.00 (Total $620.00 $220.00 loan fee) . The lady that answered the phone told me that was not an option and I explained to her about the conversation that Donald and I had. She told me she was going to speak to a supervisor and call me back within a hour. After not hearing back, I called Greentrust again and was told the suoervisor was going to listen to the recorded conversation between myself and Donald.
Still no call back and I called Greentrust (3rd call) again to be informed that the conversation between Donald and myself he was giving me an example. I explained to her that at no time was the word example used in our conversations, this was the terms I agreed to. I then told her that I knew that they were going to try to pull some kind of trick. She placed me on hold supposely to talk to her supervisor and returned to the line with a different pay schedule as follows: