It is clearly a high rate loan - they tell you this, but you have the option to make payments early and you can see the number of future payments decrease as you do. Yes they ttry to hook you into higher amounts as you pay it down. I was offered a refi and additional funds after 3 early payments. But paying it off after 2 months gave me the cash in an emergency situation, and cost less than it could have. Only star reduction is in the fact that the rate is HIGH, but they do make that clear, and you initial a disclosure stating that you are aware and other options may be better. I would borrow again, as long as I had a payoff plan and needed the funds. I would NOT reccommend carrying this loan to full term...
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I took out a loan for $1000 and making payments every two weeks of $128 and by their schedule I will be done paying off this loan next year. That is crazy. I will increase my monthly payments, pay them off and will never deal with them again. Please anyone do your research before you borrow. Don't end up like me.
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