Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #5007770
Complaint Overview
Complaint ID: 5007770
Company: Onemain Finance Corporation
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: Pennsylvania
ZIP Code: XXXXX
Date Received: 2021-12-14T12:00:00-05:00
Date Sent to Company: 2022-01-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I want to show CFPB how despicable and unethical a lending company can be. I have initially filed a complaint against One Main Financial for a violation of my rights concerning a personal loan I borrowed. When I called the company to complain I was hung up on and told to look up an obscure term they called " the rule of XXXX. '' When I looked up the term, I found it's declared an illegal practice for loan companies to use. Moreover the credit agencies I called never heard of the term. There is also nothing in my paperwork that mentions such a term. This clearly indicates how this company has no scruples and violates the truth in lending laws set up by the government. In the follow up to my complaint, the company sent me a Compromise /Release agreement for me to sign. I thought the company was going to send a simple paragraph to reach an amicable agreement. Instead, I received an agreement that they expected me to sign giving up my rights, in particular that they are guilty of no wrongdoing and a clause that I would not be able to sue. That the company sent such an abhorrent and unethical letter ( which borders on the criminal ), clearly indicates that they are in fact very guilty of wrongdoing and other unethical practices. The letter is a clear violation of not only my consumer rights, but my constitutional rights as well. If the burden or proof is on me, I am glad for it, for their agreement is chock-full of violations. I moreover can honestly show that I have paid the principal balance I borrowed ( I have all my documentation ) and the CFPB can clearly see for themselves in their compromise letter the predatory company they are, and their unregenerate business practices, especially against XXXX
Frequently Asked Questions
What is Complaint #5007770 about?
Complaint #5007770 was filed against Onemain Finance Corporation 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 2021-12-14T12:00:00-05:00.
How did Onemain Finance Corporation 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 Onemain Finance Corporation?
Yes, visit the Onemain Finance Corporation company profile at readthecomplaint.com/company/onemain-finance-corporation 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.