Payday loan, title loan, or personal loan -- Problem when making payments -- Complaint #4682820
Complaint Overview
Complaint ID: 4682820
Company: United Services Automobile Association
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Problem when making payments
State: Georgia
ZIP Code: 31088
Date Received: 2021-09-01T12:00:00-05:00
Date Sent to Company: 2021-09-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I have a personal loan with USAA. The pandemic hit and they offered to stop the payments for 3 months I agreed. I made the first payment in beginning of XXXX and stopped for the 3 months and began repaying again in XX/XX/XXXX. I originally paid the loan in full for the first payment but decided I would pay the loan twice a month instead of in lump sum. I would break the payment into two and make the payments on time and everything seemed fine. One day months later I was looking at my banking accounts noticed the balance jumped in front of my eyes. I thought it was strange so I told my husband about what I had seen. A few days later I noticed the same thing happened again. My husband had asked if had taken a screenshot and I didn't so this time around I thought about it but decided not to again. It happened a third time and this time I was determined to start taking the screenshot. In XXXX of XXXX I went to make a normal partial payment and notice the entire set up of the loan was different. I made the payment and contacted the bank to ask about the changes I was seeing and they told me this was normal. I began to take record of what was happening to me. I still can not find the first payment on the loan as it is as if it was never paid. Its nowhere in the payment history and their explanation is that they loan was paused for 3 months. The bank was now collecting interest twice while adding it back to my principal balance daily. So currently my PRINCIPAL balance increases daily and even if I make a payment to change my principal balance the interest is being added back to the principal balance daily. I do not understand how I can be paying the same amount in interest as when the loan began and the principal balance is less. Please audit my account. This bank is taking advantage of me and maybe others.
Frequently Asked Questions
What is Complaint #4682820 about?
Complaint #4682820 was filed against United Services Automobile Association regarding Payday loan, title loan, or personal loan specifically about Problem when making payments. It was received by the CFPB on 2021-09-01T12:00:00-05:00.
How did United Services Automobile Association 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 United Services Automobile Association?
Yes, visit the United Services Automobile Association company profile at readthecomplaint.com/company/united-services-automobile-association 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.