I took out a $400 dollar loan from Signmyloan.net and I saw five debits to my account for $121 dollars. I called to verify that my loan was paid in full and they told me I still owed them $521 dollars even though i'd already paid them $605 dollars. They claimed that was all interest payments while I refinanced my loan each month. When I complained they said this was all clearly explained to me, which it wasn't. Do not ever take out a loan from these guys. Ripoff!!!

I overlooked the monthly refinance charge thinking it was a installment payment over a period of months, but my balance due was not adjusted. After reading here I realized I didn't fully understand and see why payday or cash advanced loans are a racket and better left avoided... If you borrow from signmyloan pay off the due balance in full before the monthly refinance charge can be charged. My first loan with them was for $300 and I paid 30% interest and paid in full at the first of the month on a prearranged plan. The second loan was for $400 at 25% interest because now I was a preferred customer, but I made the mistake thinking the monthly charge was a installment payment against my loan. It should have been by all rights but then again we're dealing with loan sharks... and there are many. I will pay my loan in full before the end of the month and paid half yesterday. Just pay in full at the first of the month to avoid being taken to the cleaners... Hope this helps.