Consumer complaint received 2020-05-06
Company: LDF Holdings, LLC
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Payday loan
Issue: Charged fees or interest you didn't expect

Complaint:
On XX/XX/XXXX I took out a small payday loan for {$750.00}. I have taken out similar amount loans and much more from various companies to fix my car in the past always paying them back. Of course all pay day loans have a high interest level but at least with XXXX  XXXX you could pay money on it ahead of you're ach ( automatic bank debt ). This meant even with high interest if you were on time or ahead of time with payments you could eliminate interest fees before they got to high to pay off and nothing was going to you're principal balance. Now XXXX  XXXX didn't report to the credit bureau so that XXXX because it meant that you couldn't get good credit from paying them off. However I was able to get 2 or three loans for {$2000.00} from them by showing them pay stubs and it really helped me debt consolidate so I say over all it was good compared to other companies not great but good. Because people in lower income neighborhoods have bad credit the bank won't lend so they can't debt consolidate. Even a thousand dollars can go along way to stop cycles of debt for working Americans. 

I also borrowed from XXXX XXXX XXXX who would not let you pay off ahead of time but only would take money withdraws weekly or bi weekly but you could ask that the withdraws be larger this would absorb interest. However it would also cause more interest because you had to wait to pay them. I paid off all the loans even with interest because I'm a working man with good ethic. It was hard because of interest but my lift business second job helped thank XXXX. I invest in my car as a business. 

Now to the point I borrowed from Loan at last XXXX XXXX  thinking it would be like the other too companies. I expected high interest but not the insanely high interest of loan at last. I have been being debited from my account weekly every Friday since XX/XX/XXXX {$100.00} for a {$750.00} loan and according to their own sight when you count the payments ( all paid on time ) that comes out to approx {$1000.00}. Crazier still they have scheduled me for payments all the way to XXXX! Worse still they don't even have a listed balance and when I call I'm never allowed to talk to a supervisor. 

I was even willing to make a settlement I begged for a supervisor and demanded to no avail. So I made a complaint on the XXXX website to which they replied with lie that they had been trying to contact me but I ignored them about a settlement ; I was livid to say least. Not only have they been ripping me off but now insult my intelligence and integrity. So they give this rediculous offer for me to settle the loan for {$350.00} by XX/XX/XXXX. I mean even before the covid emergency when I could still get lift drives as a second job because I've already paid them {$1000.00} and their interest absorbed it I wouldn't want to give them another {$350.00} however with the global emergency that's nearly impossible. 

The president asked businesses to work with us so how can they legally keep doing this?! 

I just want y'all to stop them from collecting anything else from me and make them close it out. If im forced to pay them the settlement I'll have to borrow from rent or other money. I have a XXXX XXXX XXXX  and I'm newly married only one year or so. I need a break here can you least make them give back the money if I'm forced to pay. If they just cancel it that would be ideal. Thanks for you're help. I can't pay any more that's taking away vital resources, For food etc

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation