Payday loan, title loan, or personal loan -- Struggling to pay your loan -- Complaint #5593381
Complaint Overview
Complaint ID: 5593381
Company: Customers Bancorp, INC
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Struggling to pay your loan
State: New York
ZIP Code: 11423
Date Received: 2022-05-23T12:00:00-05:00
Date Sent to Company: 2022-05-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I applied for the Paycheck Protection Program ( PPP ) back in Spring of 2021 through the XXXX website for {$19000.00} and my PPP loan number is XXXX. I did this with the knowledge that I had to apply for PPP Forgiveness within 10 months of me receiving this money. I have attempted various times to apply for PPP Forgiveness during that 10 month time frame by contacting Customers Bank via email which is XXXX and phone calls. Instead of being assisted, I have continuously been given the run around. Many of the Customers Bank customer service representatives have sent me numerous emails stating I should apply for forgiveness on my own through the SBA PPP Forgiveness portal. This has been the typical response every single time I have requested assistance in applying for PPP Forgiveness. When I attempt to apply for forgiveness in the SBA PPP portal, it states 'that my account is blocked by lender '. After speaking to an SBA PPP Forgiveness representative, I was informed that in order for me to apply for forgiveness, the lender has to lift the block out of the portal. Also I can not apply for PPP forgiveness through the different ways which includes through portal, directly, or through SBA Form 3508 unless the block is lifted. I have raised this issue to Customers Bank about removing the block that prevents me from applying for Forgiveness. I keep being told that I am not blocked and to continue attempting to apply for forgiveness through the SBA PPP portal. This still does not mean anything since I continue to be blocked from applying for forgiveness and am tired of this. I only took this PPP loan because I was under the impression that I would be forgiven. I feel a sense of betrayal and dissatisfaction with all of this. I am even beginning to regret receiving this money because of the lack of assistance in this matter. The issue of me not applying for Forgiveness has hurt my ability to work because of the my constant need of meeting with my accountant in trying to resolve this matter. Also this has caused me tremendous stress knowing that I need to pay back my PPP because I can not afford to pay this. I kindly ask for CFPB to assist me in applying for forgiveness. Thank you.
Frequently Asked Questions
What is Complaint #5593381 about?
Complaint #5593381 was filed against Customers Bancorp, INC regarding Payday loan, title loan, or personal loan specifically about Struggling to pay your loan. It was received by the CFPB on 2022-05-23T12:00:00-05:00.
How did Customers Bancorp, 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 Customers Bancorp, INC?
Yes, visit the Customers Bancorp, INC company profile at readthecomplaint.com/company/customers-bancorp-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.