The predatory loan is NOT IN YOUR CONTROL nor is it "PROGRESS!"
If you want a $2600 loan that you most likely will be approved for, than get ready to pay 300%+ interest. In fact, you will pay over $1200 in interest your first 5 payments and still have a balance of $2800 for your 6th payment. Wait a minute...isn't that loan going up when you pay rather than down? Yes, it most definitely is!!
So the name of the company "RISE" has nothing to do with what you will be doing to your credit or lifestyle once you begin a loan like this. This poor excuse for a company should be re-named "FALL," because that is what they are setting you up to do!
Imagine being suckered into a scheme that boasts you will finally get the money you need and begin rebuilding your credit. They promise to give you points if you pay on time--for your birthday--and for attending "credit school". So it takes about 4 months to get 5% off on your loan and after two years (when the loan is supposed to be paid off), you get 50% off. Wow, in the meantime, you make bi-weekly (yes every two weeks) payments of $247 or nearly $500 a month. That's a whole lot of cashola--especially when you are not even biting into principal for about 6 months.
Run away and run fast. Nobody deserves this kind of scam--not even your worst enemy! The only difference between this company and the mafia, is that they may not break your legs if you don't pay on time.
If you don't believe me, head over to this site and see who else feels this way: PissedConsumer
I absolutely despise this company!
The question is what can we do about this company. Ive paid 2019.16 in 3 months and my loan is still 2687. I asked how is this possible. I said so if i was to oay this loan off with the months proposed along with not knowing it was bi-weekly how much will i have paid. She said a little over 10,000 dollars. What the hell...
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