Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #5969213
Complaint Overview
Complaint ID: 5969213
Company: Ldf Holdings, LLC
Product: Payday loan, title loan, or personal loan
Sub-Product: Payday loan
Issue: Charged fees or interest you didn't expect
State: Florida
ZIP Code: 33324
Date Received: 2022-09-10T12:00:00-05:00
Date Sent to Company: 2022-09-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
Lendumo, an online payday loan lending service, approved a small {$1200.00} loan for a family emergency I experienced on XXXX/XXXX/2022. I was told that they could not determine the interest rate until I selected the " sign and continue agreement '' in the app. Once I selected the option they went ahead and approved the {$1200.00}. Fearing that they had my bank account information, pressured me to accept the loan, and fear they would debit my account regardless, they did deposit the money in my account. The problem was the interest rate was like 794 %, now I owe them over {$7000.00}. interest on a measly XXXX with a biweekly payment of {$390.00}. The payments are also being deducted on an alternate week other than agreed upon and have caused several overdrafts to my account. I also do not believe the interest rate that I am being charged is legal in my state. I've paid {$2300.00} so far and seek relief from this predatory loan experience. How is this legal?
Frequently Asked Questions
What is Complaint #5969213 about?
Complaint #5969213 was filed against Ldf 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 2022-09-10T12:00:00-05:00.
How did Ldf 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 Ldf Holdings, LLC?
Yes, visit the Ldf Holdings, LLC company profile at readthecomplaint.com/company/ldf-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.