American Web Loan Complaints, Reviews, Scam and Fraud Reports

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Corporate Information

Category: Loans
Complaint Directory: View Listing
Corporate Address: 522 N 14th Street, Box 130
Ponca City, Oklahoma 74601 USA

Phone Number: 877-636-1353
Email: customerservice@americanwebloan.com
Website:
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Ratings Damage Reports For American Web Loan

Customer Loss Data

Total Reported Consumer Losses:
$2,900.00

Average Reported Loss Per Consumer:
$580.00

Consumer Ratings Data

Average Rating: 1.00 of 5
Based On: 5 Reviews / Complaints
Number Of Comments: 12 comments

Most Recent Complaint About American Web Loan

Failure To Properly Disclose Repayment Procedures

Unfair business practices and failure to properly disclose and/or notify regarding repayment procedures

I received a p****y loan for the amount of $900 in August; since that time, I have made bi-weekly payments of $270. When I added up the total amount I had paid thus far, I was alarmed and contacted the company.

An agent informed me that none of the money from the payments I’ve made have been applied towards the principal, which means I have paid more than twice what I borrowed, and the monies have only gone towards interest. I didn’t understand this to be the case when I got the loan because I certainly don’t remember it being explained to me that way.

I am disturbed that they weren’t even going to send a notification, letting me know that no payments had been applied towards the principal, but continue to debit my account every pay period.

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User Thoughts About American Web Loan

12 thoughts on “American Web Loan

  1. I received a loan on 2-4-14 of $500. I was scheduled to pay $150 every pay check until it was paid for which was paychecks ago. Needless to say I called them where I was rudely informed that none of the payments went towards the balance. I need to close my account today because another $150 was taken out after I had the bank stop payment. Its illegal and needs to stop.

  2. American web loan are crooks. took out a loan for 800.00,paid them over twice that amount, and they say I still owe 800.00 . don't really know what to do, besides closing my account. they are criminals . don't ever get a loan from them.

  3. American web loan are crooks they are loan sharks actually worst. Even loan sharks don't charge that much interest. They know what they are doing by giving u a loan that they know you can't afford to pay back all at once so u make all these payments that can equal over triple the loan. They don't tell you if you get a loan for say 600 and the interest is 150 thatthe 150 would be charged every two weeks until the loan and interest completely. They explain to you that the interest will 150 thats it. And they so press they didn't have me sign the agreement they said I would get the email and my loan wasn't complete until I signed electronically. I never received the email but they put the money in my account anyway. Now they telling me I signed a contract that I never sign. After I found out they was illegally charging interest and wasn't allowed to give loans in md I called them and told them they no longer have permission to debit my account. Now I'm getting those calls to my job saying I have a claim against me. But they have my address but never came and served me papers. Just asked me to make a full payment.

  4. This company is owned by an American Indian tribe. I have been warned about taking loans out with tribes. I had the same happen. I took out a loan and they locked me out of my account so I could not make payments. But then they went away without ever contacting me or answering my calls. Four years later I start getting calls from a collection agency on their behalf also threatening to charge me with fraud, etc. So I called the company themselves. They told me the account number given me by the agency is not even assigned to me. And they told me they do not hire locators and do not go after people who default. They said they only sell the loans to collection agencies to collect within 90 days. The collection agencies are not supposed to bother people after that by law. So, these locators, collections are fraud not us.

  5. So what would happen if I stopped them from taking out money from my account and called their bluff about the claim and someone coming to my work and being sued for Fraud? Im in MO. Can they legally do this?

  6. The same thing has happened to me. I borrowed $600 in October, I have since paid back $720. I knew my payments had to soon be coming to an end, (or so I thought) so I called. So glad I did. I was infomed that basically the $720 I had paid, didn't count and that I still owed $600. I laughed at this. What a joke. This was not explained to me on the intial call and I challenge them to tell me different. If there calls are recorded (as they claim) I would like to hear the convo. Think about it. If I offered you a loan and tell you you will be paying it back plus 300% interest, would you take the bait? Absolutely not. There is no paperwork that was sent to me or anything else binding other than me saying "yes, I understand what you have told me over the phone."

    AGAIN, none of which was explained in it's entirety. I have put a stop payment on their withdrawals and they have been calling me at work. I will not be harrassed, especially when they were deceptive. If I have to, I will take legal action. This place is bogus and I hope more and more people are aware of this so they don't get scammed like the rest of us.

  7. American Web Loan and Nationwide collections are the same company based out of LA. They are also illegal in California They have called and threatened me said that they will have my legs broken and went in and took $800 from a bank account which I closed. Now their locator a Mr. Riley is harassing me an said he show up at my house4 and is charging me $600 locator fee(to which I told him where he can stick that) .

  8. I never took out a loan with them. I received a call from a debt collection company. I never had a Chase Account or an American Web Loan. The police have been notified but if there are more people out there please escalate your complaints. Signed another victim of identity fraud.

  9. I found out that American Web Loan is unlicensed in the State of California and therefore, only owed principal back. I have paid them up to $900 and they are just unethical. I closed my bank account and sent them a letter stating that they are unlicensed and, not to mention operating illegally and that only the principal is due back to them. I have filed complaints with the BBB, FTC and Attorney General. Since, they are unlicensed, California Department of Corporations will not take a formal complaint. However, I did call the department and American Web Loan has been added to the list of unlicensed/illegal p****y lenders that will be investigated if they continue their illegal loan activities. California is starting to crackdown on these unlicensed/illegal p****y lenders.

  10. I took out a loan for 600.00 in early March and I have made 6 payments of 180.00 when I called to find out when they will stop deducting money from my bank account they said Oct 16. The repayment of the loan would be 2340.00 or of course I can pay it off today with 735.00 aside from the over 1000.00 that i already paid. How this is legal is beyond me.

    • In most states its not, just close your checking account and they cant do anything to you. They will try ,just hang up on them. The business practices they use are unethical and illegal. How can you expect anyone to pay off the loan when they lock you out of the website a few days before a payment is due, of course it will be late. They will threaten you with court and things like that but they are only bluffing. In fact there are ways to go after them to get money back from them but i'm not sure how to go about it.

  11. AMERICAN WEB LOAN KEEPS CALLING ME HARRASSING ME ON MY JOB AS WELL. THIS IS A VIOLATION OF THE FDCPA AND I HAVE FILED 8 COMPLAINTES WITH THE FEDERAL TRADE COMMISSION. THIS IS ILLEGAL ACTIVITY.