Payday loan, title loan, personal loan, or advance loan -- Loan payment wasn't credited to your account -- Complaint #7831214
Complaint Overview
Complaint ID: 7831214
Company: BMO Bank National Association
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Title loan
Issue: Loan payment wasn't credited to your account
State: New Jersey
ZIP Code: 07302
Date Received: 2023-11-09T12:00:00-05:00
Date Sent to Company: 2023-11-09T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Hello, I opened a personal loan with bank of the west to purchase a boat. That loan was sold to BMO when bank of the west was purchased. Prior to the shift to BMO, I made a XXXX payment to bank of the west to principal ONLY. When BMO took the loan over they logged that payment as a pre-payment, which it was not. It was just a principal payment. The last XXXX months Ive been calling and calling just so they can have my account corrected and properly generating monthly statements so I can just pay down my loan. NOBODY, fixes it. My last payment which I made just to keep up as BMO is not requesting payment was wrongfully charged interest based on the length of the loan. I need that corrected, my XXXX payment to be properly applied so my account generates the correct interest/principal calculation based on how much I have paid down, and the world can be at peace. BMO is an absolute disaster so this has been my only chance to get through to someone who can fix something so simple. I just want my loan fixed so I can pay it off. Do not bank or do loans with BMO.
Frequently Asked Questions
What is Complaint #7831214 about?
Complaint #7831214 was filed against BMO Bank National Association regarding Payday loan, title loan, personal loan, or advance loan specifically about Loan payment wasn't credited to your account. It was received by the CFPB on 2023-11-09T12:00:00-05:00.
How did BMO Bank National Association respond to this complaint?
The company responded with: "Closed with non-monetary relief". 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 BMO Bank National Association?
Yes, visit the BMO Bank National Association company profile at readthecomplaint.com/company/bmo-bank-national-association 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.