Payday loan, title loan, personal loan, or advance loan -- Problem when making payments -- Complaint #9804844
Complaint Overview
Complaint ID: 9804844
Company: Paramount Gr Holdings, LLC
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Problem when making payments
State: Ohio
ZIP Code: 43068
Date Received: 2024-08-14T12:00:00-05:00
Date Sent to Company: 2024-08-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Installment loan was obtained to cover the expense of my solar equipment. It required a balloon payment to be made by a specific date in order to maintain loan payments at the original rate. I spoke to the company in advance of the required date to confirm the amount and ensured that the payment was submitted before the required due date. The loan is on automatic monthly payments. Because I made the balloon payment, the company chose to stop my auto payments, causing the balance to be short of their 'target balance ' and therefore did not re-amortize correctly. When I called and questioned why they had not taken my scheduled payment, they processed the payment but did not re-amortize the loan. Because the XXXX payment was stopped and taken manually off-schedule, the XXXX scheduled payment was not taken. I purposely set the loan to pay automatically so that those payments would be taken every month, without interruption. I did not give them permission to stop those auto payments and their decision to not keep to the payment schedule I established has caused me to pay more interest based on the inaccurate amortization schedule. If they overrode my automatic payments to stop them at their discretion, they must be doing that to others as well.
Frequently Asked Questions
What is Complaint #9804844 about?
Complaint #9804844 was filed against Paramount Gr Holdings, LLC regarding Payday loan, title loan, personal loan, or advance loan specifically about Problem when making payments. It was received by the CFPB on 2024-08-14T12:00:00-05:00.
How did Paramount Gr Holdings, LLC 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 Paramount Gr Holdings, LLC?
Yes, visit the Paramount Gr Holdings, LLC company profile at readthecomplaint.com/company/paramount-gr-holdings-llc 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.