Payday loan, title loan, personal loan, or advance loan -- Confusing or missing disclosures -- Complaint #9701324
Complaint Overview
Complaint ID: 9701324
Company: Credova Holdings INC
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Other advances of future income
Issue: Confusing or missing disclosures
State: North Carolina
ZIP Code: XXXXX
Date Received: 2024-08-03T12:00:00-05:00
Date Sent to Company: 2024-08-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I applied for financing of a consumer private purchase, a XXXX to be specific. The website uses Credova as a " Financing Service ''. What it really is is a scam to get consumers to pay a 100 % interest rate on a " closed ended lease '' in which they pay an extra payment to own the property at the end of the " lease ''. They also advertise a 3 month buy out for the original price, yet they go on to say it's a 30 day policy on the " leases ''.
Frequently Asked Questions
What is Complaint #9701324 about?
Complaint #9701324 was filed against Credova Holdings INC regarding Payday loan, title loan, personal loan, or advance loan specifically about Confusing or missing disclosures. It was received by the CFPB on 2024-08-03T12:00:00-05:00.
How did Credova Holdings 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 Credova Holdings INC?
Yes, visit the Credova Holdings INC company profile at readthecomplaint.com/company/credova-holdings-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.