We were behind on our rent and my husband got a loan of $600 with them. First off they operate under a different name tribe name that I can't remember now.
But, we've paid that loan back and more. We were paying 176 every 2 weeks. We made a total of 5 payments. We didn't understand why the principal amount was still at 550 after 5 payments.
We called a rep who said only $10 was going towards the principal amount. We decided to stop payment on the loan. They got 2 more payments from my husband's account. After that my husband's decided to put his paycheck on a different account so they won't get access to his money anymore.
A month later he received a phone call from them saying his balance is now $1100 and they are willing to settle for 900!!
Scammers!!!!!!!!! DO NOT BORROW FROM THEM!!!!
Product or Service Mentioned: Zocaloans Loan.
Reason of review: Problems with payment.