Payday loan, title loan, personal loan, or advance loan -- Struggling to pay your loan -- Complaint #8196120
Complaint Overview
Complaint ID: 8196120
Company: Onemain Finance Corporation
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Title loan
Issue: Struggling to pay your loan
State: Texas
ZIP Code: 78041
Date Received: 2024-01-21T12:00:00-05:00
Date Sent to Company: 2024-01-21T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I had a loan with ONE MAIN FINANCIAL during the beginning of XXXX. I called to see what options I had and the XXXX had offered a refinance of the loan at a much higher payout with my XXXX XXXX XXXX ( at the time valued at {$2000.00} ) as collateral. I feel the offer was predatory ( due to the circumstances of COVID - furlough and not knowing status of job ) as I ended with a $ XXXX loan against a $ XXXX vehicle ( at best ). As well, I had added unemployment insurance when I renewed at an added cost. I was told this was to protect me if I should become unemployed and can not pay the loan it would be handled by the insurance. I have done the best I can to keep up with payments ( might have been late a couple of times ) and had recently lost my job in XX/XX/XXXX. When I contacted ONE MAIN I was told the process to access the insurance benefits which included documentation from the unemployment office as well as my bank. I have lately been denied my benefits and still have the large ( $ XXXX ) payments on no income. I have since moved back home with my family and assist in the care of my elderly mother and am not working.
Frequently Asked Questions
What is Complaint #8196120 about?
Complaint #8196120 was filed against Onemain Finance Corporation regarding Payday loan, title loan, personal loan, or advance loan specifically about Struggling to pay your loan. It was received by the CFPB on 2024-01-21T12:00:00-05:00.
How did Onemain Finance Corporation 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 Onemain Finance Corporation?
Yes, visit the Onemain Finance Corporation company profile at readthecomplaint.com/company/onemain-finance-corporation 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.