Payday loan, title loan, or personal loan -- Problem when making payments -- Complaint #4455680
Complaint Overview
Complaint ID: 4455680
Company: Service Finance Holdings, LLC
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Problem when making payments
State: Michigan
ZIP Code: 48101
Date Received: 2021-06-12T12:00:00-05:00
Date Sent to Company: 2021-06-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
It started when the credit was submitted. I received a letter that a charged amount of {$10000.00} had been placed and please cal to confirm work was done. This financing was through a home repair company XXXX XXXX. I called to informed them that my contract for work was for {$10000.00}. They told me that I would have to deal with XXXX XXXX directly they could not help me. All point gave me a {$100.00} gift card that was promised to me 3 times in the duration of the work. XXXX XXXX sent a statement monthly without indicating past payments, interest, or reflecting any activity on the account. I called them, and they said that they didn't have to provide that information I should keep track of my own records. After paying above minimum payments for month, and noticing higher interest than I expected I decided to pay this loan a different way. I took the statement to my credit union and used a person loan from there to pay in full. The statement shows a balance of {$9000.00}, that is what my bank sent. Now I receive yet another statement that I still owe {$110.00}. I don't understand this billing process, and feel they hide information that is supposed to be provided to borrows. When you call they are very rude, can not explain to you activity or finance fees. According to their statements I paid about {$500.00} interest on this loan over a 5 month period on a loan with 6.99 % interest. I do not understand this math. I will never borrow from them again. I hope that someone looks into this and holds this company accountable.
Frequently Asked Questions
What is Complaint #4455680 about?
Complaint #4455680 was filed against Service Finance Holdings, LLC regarding Payday loan, title loan, or personal loan specifically about Problem when making payments. It was received by the CFPB on 2021-06-12T12:00:00-05:00.
How did Service Finance Holdings, LLC 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, or personal loan) and describe your issue in detail.
Can I see other complaints against Service Finance Holdings, LLC?
Yes, visit the Service Finance Holdings, LLC company profile at readthecomplaint.com/company/service-finance-holdings-llc 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.