Payday loan, title loan, personal loan, or advance loan -- Can't stop withdrawals from your bank account -- Complaint #8274433
Complaint Overview
Complaint ID: 8274433
Company: Onemain Finance Corporation
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Title loan
Issue: Can't stop withdrawals from your bank account
State: New Jersey
ZIP Code: 080XX
Date Received: 2024-02-02T12:00:00-05:00
Date Sent to Company: 2024-02-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We pay extra every month for insurance on our loan. They really pushed the insurance on us because of our budgeting and income. We needed to use the insurance because my husband was laid off from XX/XX/XXXX through XX/XX/XXXX and he was on unemployment. I am completely XXXX without an income and my husband was receiving unemployment. The insurance company paid our payment of {$280.00} XXXX through XXXX One Main continued to debit my account XXXX and XXXX, double dipping payments from my bank account and insurance company. We called in XXXX to stop them from hitting our account on XXXX because they would AGAIN get 2 payments. According to my online account and my paper statement, I am paid head until XX/XX/XXXX. This morning I awoke to yet ANOTHER {$280.00} payment taken from my bank account. I have a XXXX BALANCE AND NOTHING WAS OWED. This unexpected withdrawal caused my electric bill to bounce. I called One Main and asked them for my money back and I was refused. I was told the only way I could get my money back was to stop payment ... ..well ... stopping payment automatically defaults your loan and they'll initiate repossession of the collateral ( my car ). So I'm left with no money, no income, {$860.00} missing out if my bank account that they're refusing to give back ... .and there isn't anything I can do about it. How can they LEGALLY accept monthly insurance payments for hardship, and continue to also debit your bank account. They are predators and this company needs to be investigated for insurance fraud. I want my money back!! I have a child here and my electric is about to get shut off.
Frequently Asked Questions
What is Complaint #8274433 about?
Complaint #8274433 was filed against Onemain Finance Corporation regarding Payday loan, title loan, personal loan, or advance loan specifically about Can't stop withdrawals from your bank account. It was received by the CFPB on 2024-02-02T12:00:00-05:00.
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.