Payday loan, title loan, personal loan, or advance loan -- Charged fees or interest you didn't expect -- Complaint #17875116
Complaint Overview
Complaint ID: 17875116
Company: Pdq Check Exchange Lc
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Payday loan
Issue: Charged fees or interest you didn't expect
State: Utah
ZIP Code: 84302
Date Received: 2025-11-19T12:00:00-05:00
Date Sent to Company: 2025-12-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX, during a telephone call initiated by the consumer to request an additional {$300.00} on an existing {$1200.00} installment loan, XXXX XXXX XXXX ( DBA Money 4 You Loans ) refinanced the prior loan ( account XXXX ) into a new {$1500.00} installment loan ( account XXXX ) without providing clear and conspicuous disclosures as required by the Truth in Lending Act ( TILA ), 15 U.S.C. 1638, and Regulation Z, 12 C.F.R. 226.17-18. The representative materially omitted and failed to explain : That only {$240.00} constituted new credit extended, while {$1200.00} was merely the prior principal rolled over as a deceptive refinance, evading Utah 's rollover limits ( Utah Code Ann. 7-23-401 et seq. ) ; The total of payments amounting to {$3200.00} ; The finance charge of {$1700.00} ; The annual percentage rate ( APR ) of 369.01 % and its compounding over 14 bi-weekly installments ; That late charges and delinquency fees could escalate the balance to {$4300.00} if no payments were made ; Collection costs ( including attorney fees and court costs added to the balance ), credit reporting consequences, mandatory arbitration provisions, and procedures for revoking ACH/debit authorizations. The call was rushed, with the representative providing only vague responses to limited consumer questions and no unsolicited explanations of these material terms, rendering the e-signed electronic agreement unconscionable and unenforceable due to inadequate oral disclosures. This constitutes unfair, deceptive, or abusive acts or practices ( UDAAP ) under 12 U.S.C. 5531, similar to CFPB enforcement actions like CFPB XXXX XXXX XXXX XXXX ( XXXX Utah XXXX ), where misleading cost representations and hidden escalations violated TILA and led to accountability for predatory practices targeting vulnerable borrowers. Approximately {$200.00} has been paid to date, far below the principal. Payment authorization has been revoked by deactivating the associated debit card, but attempts to withdraw continued. This deceptive rollover and omission of key credit terms caused unaffordability and financial harm, violating federal disclosure mandates.
Frequently Asked Questions
What is Complaint #17875116 about?
Complaint #17875116 was filed against Pdq Check Exchange Lc 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 2025-11-19T12:00:00-05:00.
How did Pdq Check Exchange Lc 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 Pdq Check Exchange Lc?
Yes, visit the Pdq Check Exchange Lc company profile at readthecomplaint.com/company/pdq-check-exchange-lc 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.