My Boyfriend Took Out A $750 Loan… Now They Want Over $5,600 Back. We Feel Completely Tricked. Do We Have Any Options?

*posting in multiple subreddits need help* Location: Princess Anne Maryland

My boyfriend and I are honestly overwhelmed right now and I’m posting this for him because we don’t know what to do. Please don’t judge, we already know this wasn’t the smartest move. We were just in a tight spot and needed help.

For context, he has a full-time job making $19.25 an hour, gets overtime, and is paid weekly. Paying back the original loan plus a little extra would have been completely manageable for him. That’s why he felt okay moving forward.

He needed money urgently and applied for a small loan. He got approved for $750, and over the phone they made it sound like a normal short-term loan. They told him it would take around 4–5 months to pay off, which made it seem reasonable. Based on that, we assumed he’d maybe pay back like $50–$200 extra at most.

They never mentioned the APR. They never clearly said how much he’d actually be paying back in total. There was no real breakdown over the phone, just “you’re approved” and pressure to go through with it.

After everything went through and we actually looked at the documents, we realized how bad it really is. The APR is over 700% and the total repayment is over $5,600… for a $750 loan. The way the payments are set up, almost all of it goes to interest at first, so the balance barely goes down.

It honestly feels like we got played. If this had been explained clearly, there is no way he would’ve agreed to it.

Now we’re stuck trying to figure out what to do next:

* Is there ANY way to fight something like this or get out of it?

* Does it matter that none of this was properly explained over the phone?

* Or do we just have to take the L and try to pay it off as fast as possible?

We’re not trying to run from it, we just feel blindsided and want to know if there’s any way to fix this before it gets worse.

Any real advice would mean a lot right now.

https://imgur.com/a/UhrICSD

Link to loan https://imgur.com/a/UhrICSD