Consumer complaint received 2023-02-01
Company: OneMain Finance Corporation
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Charged fees or interest you didn't expect

Complaint:
XX/XX/XXXX One Main Financial Account Number : XXXX Interest Rate % XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX, CA XXXX To whom this may concern : On or about XXXX XXXX XXXX I applied for a small loan through one main finical. The application said I was approved for {$2000.00} which was just what I needed. I was a sever at the time and business was slow. I needed to catch up on some bills to get me through the month. I was told to go to my local branch to sign paper work. When I arrived the young lady came to me after providing all my documents that I was all set. I told her I was a sever and didnt make that much money when she asked me did I want to apply for more money. She asked me questions about my life and wanted details about work and XXXX ext. She said I can get you more money and I told her no, because I couldnt afford a higher payment then {$150.00} which I was approved for. She said ok. As she was continuing with my application she said I see here you have 4 credit cards and a car payment. I said yes, she said I can help you out and pay off all your credit card debt and your car for one low payment. I told her my mom was a co signer or the car and at the time I only owed around $ XXXX {$9000.00} My credit card debt was around {$2000.00}. She said this will be good for you. It will help your moms credit to pay off the car and increase her and your credit. She said my payment would be {$440.00} and to come back in 1-2 years for a lower payment and lower interest rate. I told her about my situation and I didnt want to put myself in any finical burdens she said this would work out way better. She said let me help you and that my mom would be happy not to have the car in her name. She asked for some more documents and then proceeds. I was taken to a back office to sign paper work. They issued checks to my Car Company and credit card. After a couple days my mom called me so upset and said what I did. That her credit score had dropped. I told her what I did and she said I made a big mistake. After doing research, I found out that they used my car as a XXXX, extend my payment out for a XXXX XXXX for another 6 years when my car would have been paid off in 2 at the time. My mom was not able to be removed off car I now3 have a lien on the car, and both credit score were effected for paying the loan off. I have been paying on this loan for over 3 years and still owe of {$10000.00} and a very high interest rate. I called to try to have them lower my interest rate like the lady told me. However she lied, in order to do so I have to apply for another loan and it would be against my car. No other company will pay this type of loan off, its affecting me from getting me a new car, the interest rate is high, and I still have years to pay off. The company, deceived me, lied to me, and took advantage of me. I want to sue this company for this predatory loan and I want the loan to be forgiven at this point. I would have never agreed to this type of loan. During covid when I lost my job no help was given. The still wanted their money and only so called deferred payments and added them to the loan ; I feel take advantage of and lied to just so the lady could get commission. I spoke to their manager and distract manager and nothing has been done. I was never told that a XXXX would be on my car. 
Sincerely,

Company response to consumer: Closed with explanation