Payday loan, title loan, or personal loan -- Problem with the payoff process at the end of the loan -- Complaint #5270831
Complaint Overview
Complaint ID: 5270831
Company: Capital For Change, INC.
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Problem with the payoff process at the end of the loan
State: Connecticut
ZIP Code: 06450
Date Received: 2022-02-28T12:00:00-05:00
Date Sent to Company: 2022-02-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have a loan with this company for a furnace unit. I've paid on time for my monthly installment for the past 5 years. There was one month when the company changed from XXXX to Capital for Change or XXXX.In XX/XX/2022 I went to make my final payment on this loan, only to find out you can not pay on line and must call to speak with someone who will send you a payoff request document. This document must be filled out and returned which I did. Once I recieved my payoff notice hood until mid XXXX, I found a late fee for for the time the company had changed names and website. I asked that this fee be removed as it was their website issue and so I could payoff the loan. I was told that I had to speak with customer service on a {$20.00} fee. I have had a string of emails and phone calls without resolution. The customer service stated they would waive 1 fee and I said there was only one, I was then told there is now another fee because I did not make payment ontime. I explained to the customer servie representative I'd like to speak with their supervisor, that it was ridiculous that they are attempting to charge me another fee and unwilling to waive it when it was their system that had the error and then when I looked for resolution they took over a week to respond, only to state there was another fee. Now I have recieved a letter threatening collections and the problem has not been resolved. I have had calls between myself and my wife to this company over the past week and their supervisor has not responded to the situation, and the employees just pick up and are either extremely rude stating you have to wait for a supervisor or hang up the call. All this aggrevation and poor customer service over a {$20.00} fee if resolved I would have paid off the loan immediately.
Frequently Asked Questions
What is Complaint #5270831 about?
Complaint #5270831 was filed against Capital For Change, INC. regarding Payday loan, title loan, or personal loan specifically about Problem with the payoff process at the end of the loan. It was received by the CFPB on 2022-02-28T12:00:00-05:00.
How did Capital For Change, INC. 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 Capital For Change, INC.?
Yes, visit the Capital For Change, INC. company profile at readthecomplaint.com/company/capital-for-change-inc 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.