Consumer complaint received 2023-06-27
Company: DLC, LLC
State: NV
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
I had been in contact with XXXX at the DLC location on XXXX XXXX in XXXX XXXX over the prior few months regarding the loss of my source of income in addition to a car accident with injury. 

I attempted to work out some sort of payment plan with them regarding my balance in XXXX well before the next payment was due and in over 5 calls nothing was offered as a way to negate being late. Fast forward to XX/XX/XXXX there was a conversation with XXXX regarding my account and finally DLC agreed to discuss a resolution. XXXX offered me over the phone a compromise of paying off the remaining principal balance with them waiving all interest, saving me roughly {$350.00} in interest. I accepted the offer and we agreed verbally I was to make THREE biweekly payments of roughly {$370.00}. Because I wasn't born last night and unfortunately lenders lie too often, I asked for this offer in writing. XXXX was hesitant to give that to me and stated she would have to " ask her manager '' for it. 

Weird that I can not be the first person to experience this and her hesitation made me even more nervous that they wouldn't hold up their end of the bargain. I heard nothing from XXXX NOR received anything via mail highlighting the offer in writing as of XX/XX/XXXX. 

I received a report that Dollar Loan Center had recently reported my account LATE for the first time ever in mid XXXX .... meaning that AFTER we had agreed on a payment plan to PIF the account, they still reported me late to Bureaus? How can I be late when the first payment was not due yet??? 

I transmitted these concerns to XXXX on XX/XX/XXXX and she somehow couldn't comprehend what I was saying. She continued to state that " the account is still overdue therefore those remarks it was reported late WILL STAY. '' Let me get this straight ... .. you offered me a PIF and we agreed on the plan .... you then reported me late on my account to the bureaus BEFORE my first payment was due??? How can you legally do that? 

You offering me a PIF of the principal negates the prior contract legally, therefore you can not enforce the prior contract " whenever you want to. '' I advised XXXX on XX/XX/XXXX I didn't make the first payment on XX/XX/XXXX because I had not received anything in writing stating their promise of the deal. She stated that the remarks reported after our agreement BEFORE the first payment would stay regardless if I exercised my options or not. 

I hung up the phone and will continue to seek regulatory assistance. This can not be legal. You can not offer a new payment agreement overriding the previous contract, then backtrack at will and reinforce the original contract whenever you please. 

In addition to the main concern above, when this loan was initially taken out I was told that the " Credit Line '' was in fact a " credit line '' meaning it would report to bureaus as a credit line. Instead, their false advertising led to every time I reborrowed against my line, they would pay off the old one ( even though I didn't pay off the old one ) and reissue a new loan. Creating multiple loan tradelines on my CBR lowering and damaging my credit score by manipulating my average age of accounts. 

For example : Lets say you are approved for a credit line of {$1000.00} and take the full amount. You pay off {$400.00} and owe {$600.00}. You call and want to borrow the {$400.00} available on the credit line .... they instead tell the credit bureaus that you " paid off the whole balance '' and " borrowed a new {$1000.00}. '' Even though you didn't. 

This is clearly false reporting to bureaus and the fact they haven't been sued for this is mind blowing.

Company response to consumer: Closed with explanation