Payday loan, title loan, personal loan, or advance loan -- Charged fees or interest you didn't expect -- Complaint #7544198
Complaint Overview
Complaint ID: 7544198
Company: Credova Holdings INC
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: Alabama
ZIP Code: 351XX
Date Received: 2023-09-13T12:00:00-05:00
Date Sent to Company: 2023-09-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XX/XX/XXXX I purchased a firearm thru XXXX XXXX using Credova which was marketed as a buy now pay later program, In the contract given to me it stated there were XXXX items, when i only purchased XXXX firearm, the documents given to me by XXXX XXXX XXXX, who Credova gave my debt to or whatever, state that the open balance is a little over XXXX dollars, when the firearm i bought and received is worth over just a little over XXXX dollars, this loan is a 0 % APR loan, so logically the open balance should only be XXXX or so dollars, the worth of the firearm. When I spoke with someone at Credova on XX/XX/XXXX, they said that because I went past the 30 day " buyout Period '' at the start of my contract, it DOUBLES the amount of the purchase, that's the verbatim reply of the customer service rep. That sounds absolutely CRIMINAL! No where on the contract does it say " the items value will be doubled if this Early buyout method is not used '', its criminal! XXXX forbid a lawyer takes a look at this!
Frequently Asked Questions
What is Complaint #7544198 about?
Complaint #7544198 was filed against Credova Holdings INC regarding Payday loan, title loan, personal loan, or advance loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2023-09-13T12:00:00-05:00.
How did Credova Holdings 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, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Credova Holdings INC?
Yes, visit the Credova Holdings INC company profile at readthecomplaint.com/company/credova-holdings-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.