Payday loan, title loan, personal loan, or advance loan -- Charged fees or interest you didn't expect -- Complaint #14561664
Complaint Overview
Complaint ID: 14561664
Company: Westcreek Financial
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: Illinois
ZIP Code: 611XX
Date Received: 2025-07-09T12:00:00-05:00
Date Sent to Company: 2025-07-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am filing this complaint against Koalafi for deceptive and predatory business practices related to a lease-to-own agreement for home furniture, which includes a queen-sized bed, dresser, loveseat, and full-sized couch. At the time of signing, I was clearly told the total amount I would owe was {$3900.00}. This was the basis for my agreement. Since then, I have paid approximately {$6000.00} toward this lease. Despite this, I was recently notified that I owe an additional {$6600.00}, bringing the total cost to over $ XXXX than XXXX times what was initially represented. I was never clearly informed that this was a long-term lease that could escalate to such a high amount. No one explained that if I didnt buy out within a certain time frame, Id owe far more than expected. I was not given full disclosure, and I believe this practice is misleading, financially abusive, and potentially in violation of fair lending laws. I am requesting : 1. A full investigation into Koalafis lease and disclosure practices. 2. A review of my account and documentation to verify misrepresentation. 3. Immediate relief, including capping my total repayment at the original {$3900.00} and halting any further billing. Koalafis lack of transparency, excessive markups, and unclear lease structure have caused me emotional and financial distress. I am a single mother of four and can not afford to be exploited by a company that refuses to act in good faith. Please investigate this matter and take appropriate action to hold Koalafi accountable for their unethical conduct.
Frequently Asked Questions
What is Complaint #14561664 about?
Complaint #14561664 was filed against Westcreek Financial regarding Payday loan, title loan, personal loan, or advance loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2025-07-09T12:00:00-05:00.
How did Westcreek Financial respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Westcreek Financial?
Yes, visit the Westcreek Financial company profile at readthecomplaint.com/company/westcreek-financial to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.