Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #4937613
Complaint Overview
Complaint ID: 4937613
Company: Paramount Gr Holdings, LLC
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Charged fees or interest you didn't expect
State: California
ZIP Code: 95661
Date Received: 2021-11-22T12:00:00-05:00
Date Sent to Company: 2021-11-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
GoodLeap is applying different methods from month to month on how they process payments. I sent a {$50.00} payment in XX/XX/2021 with instructions to apply it to my principal. It was only applied to interest. By the load agreement, my first payment was not due until XXXX XXXX XXXX. Then in XX/XX/2021 I sent in an additional {$100.00} principal. Then on the due date they elected to only debit my account {$42.00} instead of {$140.00} and they elected to split the payment ( {$84.00} for interest and XXXX for principal for the XXXX XX/XX/2021 payments ). The also failed to provide me monthly statements in XXXX and XX/XX/2021 until I filed a complaint with the XXXX. For XXXX months I had no insight into how payments were being applied or my loan balance. When I went through the details of daily breakdown of changes, I noticed that on XXXX XX/XX/2021 my daily interest accrual went up while my loan balance and rate remained constant. This also happened on XXXX XX/XX/2021. In fact, with a lower principal than my initial opening balance my interest per day is actually higher on XXXX XXXX ( {$2.00} vs. {$2.00} at the beginning of the loan ). GoodLeap will not explain exactly what they are doing nor will they provide answers to why my account is not always up to date. I have been overcharged interest on this loan. I was effectively charged {$160.00} in interest for XXXX ( counting the {$50.00} sent in XXXX ) and the loan agreement states the XXXX payment was only to be {$140.00}.
Frequently Asked Questions
What is Complaint #4937613 about?
Complaint #4937613 was filed against Paramount Gr Holdings, LLC regarding Payday loan, title loan, or personal loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2021-11-22T12:00:00-05:00.
How did Paramount Gr 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 Paramount Gr Holdings, LLC?
Yes, visit the Paramount Gr Holdings, LLC company profile at readthecomplaint.com/company/paramount-gr-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.