Cash Today, Morrisville, PA - confused about finance charges being assessed for loan

# 4 for May 10, 2003

Complaints.com received the following on May 9, 2003:

From: Email User

RE: Cash Today, Morrisville, PA - confused about finance charges being assessed for loan

I started taking loans out with this company last year. Somehow they make a way that no matter what you do, you have to pay 100% finance charge towards a loan even if you pay half.

My loan is 500.00. I paid half of the 500.00 and I had to pay 100 finance charge, so that was 250.00 + 100.00=350.00.

Now what I'm not understanding is, I pay 100.00 of 500.00 loan is understandable but 100.00 and I'm paying half of the loan it makes no sense.