Consumer complaint received 2023-04-30
Company: Atlanticus Services Corporation
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Charged fees or interest you didn't expect

Complaint:
On XX/XX/2020, during the 30+ plus days where the temperature exceeded 100 degrees. My air compressor stopped working. I contacted XXXX XXXX XXXXXXXX XXXX XXXX XXXX at ( XXXX ) XXXX. The service tech XXXX came out and explained our freon was low. After filling the freon he explained that the type of freon our unit needed was no longer an approved freon within the State of Texas. 
XXXX said in the future to add freon would cost us a minimum of {$900.00} per pound. He recommended a maintenance plan which we purchased. During that conversation, XXXX also suggested that we consider replacing the unit since it was almost 20 years old. He informed me of the various financing options. We agreed to have another representative come out to talk with us. 
XXXX ( sales representative ) came out and XX/XX/2020, and he sold us the entire Heating and Air Conditioning unit for {$10000.00}. He discussed the special financing 48 months, same as cash upon application approval. 
We did not want to make a joint application in fear it would be declined. Therefore, we ran provided my SSN and my husbands SSN. XXXX ran my SSN first and I was approved. 
There was no need to run my husbands credit, so he didn't. I signed the contract. 
When the statement came in the mail it was under my husband 's name and not mines. 
Once we received the first bill, we set it up on auto draft in hopes to pay it off quickly to prevent the finance charges. 
After 6 months, we received an invoice showing finance charges greater than {$3000.00}. I immediately contacted Fortiva and was advised their company does not offer 48months same as cash. They only offer 6 months. I explained the contract I signed and asked them to provide a signed contract in my husbands name that outlined the 6-month term. Fortiva instructed me to contact XXXX XXXX. They also advised me there was no signed contract they received from either XXXX or myself. 
I immediately contacted XXXX XXXX XXXXXXXX XXXX XXXX XXXX. I was informed there was nothing I could do. I asked for a copy of the signed contract showing my husbands signature. I was informed there was no contract. I have tried to explain to both companies that the contract was in my name and that I was the only person that was approved for the 48months same as cash. We have continued to pay Fortiva and now owe less than {$3100.00}. 
This loan would be paid off if the contract I signed was honored. There is no credit bureau reporting being provided for me since the loan is in XXXX name. 
I am reaching out to your Consumer Complaint department because this is fraud. We should have finished paying the {$10000.00} had they not added the finance charges. Please assist if possible. 

We are currently on paperless statements ; I reached out to Fortiva and was advised I would be unable to print my statements. I requested all the statement for my account. I am currently waiting for a response.

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