Payday loan, title loan, personal loan, or advance loan -- Problem with the payoff process at the end of the loan -- Complaint #17884974
Complaint Overview
Complaint ID: 17884974
Company: Westcreek Financial
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Problem with the payoff process at the end of the loan
State: Florida
ZIP Code: 33020
Date Received: 2025-11-24T12:00:00-05:00
Date Sent to Company: 2025-11-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am updating my complaint regarding Koalafi. The company provided me with a written settlement offer of {$830.00}, but they also verbally offered a {$670.00} payoff during a recorded call. However, Koalafi is refusing to put the {$670.00} payoff in writing. They keep repeating that the {$670.00} amount is courtesy and can only be communicated verbally, not in any written payoff or email. This creates a major issue because a verbal payoff is not legally binding, can not be enforced, and can later be denied. The company refuses to provide any written documentation confirming the {$670.00} payoff, which prevents me from safely paying it without risk of the balance being reopened or continued collections. Koalafi is dodging, refusing written confirmation, and insisting that this call is recorded as their only form of proof. Their refusal to provide written documentation for a payoff amount is deceptive, unfair, and puts consumers at risk. At the same time, they did email me a written settlement of {$830.00}, proving that written communication is possible. They are intentionally withholding documentation for the lower amount. I am requesting assistance from the CFPB to : 1. Require Koalafi to provide written confirmation of any payoff or settlement amount they expect me to pay. 2. Investigate why the company offers verbal payoffs but refuses written documentation. 3. Ensure I am not misled, overcharged, or left in a position where a verbal amount can later be denied. Koalafis refusal to provide written payoff documentation is obstructing my ability to resolve the account in good faith.
Frequently Asked Questions
What is Complaint #17884974 about?
Complaint #17884974 was filed against Westcreek Financial regarding Payday loan, title loan, personal loan, or advance loan specifically about Problem with the payoff process at the end of the loan. It was received by the CFPB on 2025-11-24T12:00:00-05:00.
How did Westcreek Financial respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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.