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Is it legal for a loan company to charge interest rate of 577.66% for $1,000.00 loan interest is $3,356.88, it was supposed to be a short term loan  they made it long term so they can get 502.83 every month instead of a loan to be paid within 2-3 months as was expected

 

 

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3 hours ago, Allyson said:

 was supposed to be a short term loan  they made it long term so they can get 502.83 every month 

Not clear.  Who is "they"? How did "they" make the loan a long term loan?  Why would anyone agree to such take a loan?

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