Payday loan, title loan, or personal loan -- Getting a line of credit -- Complaint #5607605
Complaint Overview
Complaint ID: 5607605
Company: On The Barrelhead, LLC
Product: Payday loan, title loan, or personal loan
Sub-Product: Personal line of credit
Issue: Getting a line of credit
State: Massachusetts
ZIP Code: 02038
Date Received: 2022-05-26T12:00:00-05:00
Date Sent to Company: 2022-06-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
This company and it's affiliates are running deceptive advertising on social media platforms. They are claiming Congress approved a new program offering {$50000.00} deposits to anyone. At no time does the ad state it is for a high-interest personal loan. The company runs many advertisements with fake, XXXX news articles from XXXX XXXX and XXXX. The ads appear to be run by On the Barrelhead, Inc. d/b/a PersonalLoanPro XXXX # XXXX. The transcript of an example deceptive ad follows ( original video is attached ) " This is being covered up by XXXX buying XXXX. Congress was just on the news announcing this new program that's giving Americans over the age of 21 up to {$50000.00}. You don't need any credit history, or bank requirements at all to get your deposit. The best part is anybody can do this online and it only takes a few minutes, all you have to do is let them know why you need the money, how much money you need, and just like that you can see how much '' - This is not being " covered up '' by XXXX buying XXXX - Neither congress nor any government official was " just on the news '' announcing such a program - Credit history AND banking is required to obtain a loan and get the deposit - Anyone can not do this
Frequently Asked Questions
What is Complaint #5607605 about?
Complaint #5607605 was filed against On The Barrelhead, LLC regarding Payday loan, title loan, or personal loan specifically about Getting a line of credit. It was received by the CFPB on 2022-05-26T12:00:00-05:00.
How did On The Barrelhead, 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 On The Barrelhead, LLC?
Yes, visit the On The Barrelhead, LLC company profile at readthecomplaint.com/company/on-the-barrelhead-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.