Payday loan, title loan, personal loan, or advance loan -- Problems receiving the advance -- Complaint #9385666
Complaint Overview
Complaint ID: 9385666
Company: Moneylion INC.
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Other advances of future income
Issue: Problems receiving the advance
State: California
ZIP Code: XXXXX
Date Received: 2024-06-29T12:00:00-05:00
Date Sent to Company: 2024-06-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I saw that Moneylion was offering a {$700.00} loan. Or so I thought. It turns out it was something called a " Credit Builder Loan. '' I had no idea what I was opening until after it was too late and now they have sent me to collections for money I have never received! Initially, they gave me {$100.00} on XX/XX/year>2024 which they gave me through my XXXX account and I paid back {$130.00} on XX/XX/year>2024 to cover that amount. They say it was never given into XXXX, but given into another account, which is not true or correct. It turns out the other {$700.00} went into a Credit Reserve account for me to make monthly payments of {$84.00} on for several months until it and the interest ( which was not disclosed at the beginning ) was paid off. Once paid off... I would then receive the loan in it's entirety. I am on a fixed income and did not want or need this type of loan. Which I explained to them several times. But got nowhere. I made XXXX payment of {$84.00} on XX/XX/scrub> 2024. I continued to call them begging them to call off and cancel the loan as I had already paid them more than I had borrowed. But they would refuse. Now I find that they have added {$850.00} to my credit report as being a past due amount on this Credit Builder Loan. I have not borrowed nor ever touched that money! So I have no idea how they can say I owe it back to them. I am completely frustrated and appalled that this company would take such fraudulent actions against a person. Please help me in righting this wrong. I have tried to dispute this on my credit report and am not sure I've gotten anywhere. I desperately need help. Thank you!
Frequently Asked Questions
What is Complaint #9385666 about?
Complaint #9385666 was filed against Moneylion INC. regarding Payday loan, title loan, personal loan, or advance loan specifically about Problems receiving the advance. It was received by the CFPB on 2024-06-29T12:00:00-05:00.
How did Moneylion 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 Moneylion INC.?
Yes, visit the Moneylion INC. company profile at readthecomplaint.com/company/moneylion-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.