Payday loan, title loan, personal loan, or advance loan -- Charged fees or interest you didn't expect -- Complaint #7661339
Complaint Overview
Complaint ID: 7661339
Company: Sunlight Financial LLC
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: Arizona
ZIP Code: 86442
Date Received: 2023-10-07T12:00:00-05:00
Date Sent to Company: 2023-10-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I was approved for a loan for central AC installation. The amount financed was {$7500.00} at 12.99 % APR with automatic payment withdrawal from my checking account. I received a TILA disclosure from them on XX/XX/ showing the loan term of 12.99 % and payment of {$110.00} per month and a finance charge of {$6000.00} with the first payment due XXXX On XXXX I received a " welcome letter '' from them stating that my APR was 12.99 % and my payment would be {$110.00} per month with a finance charge of {$6200.00}. On XX/XX/ I sent an email to them pointing out their mistake. The welcome letter finance charge and payment actually reflected an APR of 13.49 % That same day I received an automated response with a case number and that someone would be in touch shortly. I contacted them by phone a few days later and was told that yes this was a mistake and would be fixed before my due date. I contacted them again on XX/XX/ to ask about an update. I spoke with a gentleman who told me that " calling everyday is not going to resolve this any faster '' He also stated that my calculation was wrong and that the payment and APR were correct on the welcome letter. At that time I informed him that I would be filing a complaint with the CFPB to which he replied " go for it '' I hung up after that.
Frequently Asked Questions
What is Complaint #7661339 about?
Complaint #7661339 was filed against Sunlight Financial LLC 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 2023-10-07T12:00:00-05:00.
How did Sunlight Financial 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, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Sunlight Financial LLC?
Yes, visit the Sunlight Financial LLC company profile at readthecomplaint.com/company/sunlight-financial-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.