Zachary K.
DO NOT USE UNLESS YOU READ THE CONTRACT…
DO NOT USE UNLESS YOU READ THE CONTRACT FULLY. I signed up for a loan for $1,500 for some car trouble. The contract I signed, idiotically, had a 472% DAILY interest rate. When asked if there was anything that could be done to get a lower rate after receiving payment, I was told that it is what I signed. Predatory loan for sure! They took $288 bi weekly. I paid over $2k and finally had enough. I went to my bank to get $1,500 to pay off the loan and it was $1,698 as of today. RIDICULOUS!!! Please do not use this company unless you read the contract and can negotiate a lower interest rate.
Response from Willow Lake LendingSep 16, 2025
Hello Zachary, thank you for reaching out. We are always here to help. We are firmly committed to ensuring that our customers have a clear understanding of the fact that this is an expensive form of borrowing. As such, we make it a top priority to provide them with a comprehensive breakdown of our rates and terms, while also providing full disclosure on all fees associated with the loan well before originating the loan. Our goal is to ensure that our customers are fully informed and equipped to make informed decisions regarding their borrowing needs, while also fostering a culture of transparency and trust in all our dealings. We strongly encourage our customers to take advantage of our no pre-payment penalty policy by paying off their loan early. Doing so will result in substantial savings on interest charges. Additionally, customers have the option to make additional payments towards the principal balance of the loan, which can help reduce the overall cost of borrowing. We believe that these options provide our customers with greater flexibility and control over their finances. Reviewing your account, we see that we attempted to reach you to resolve this matter but were unsuccessful. Please feel free to contact us directly at [email protected] or (855) 857-5253 at your earliest convenience so we may resolve this issue. Thank you.