Consumer complaint received 2019-03-14
Company: WLCC
State: SC
Product: Payday loan, title loan, or personal loan
Sub-product: Payday loan
Issue: Charged fees or interest you didn't expect

Complaint:
Over the course of about a year and a half, I got into the awful, perpetual cycle of a payday loan. I am mortified and deeply ashamed that I did so. The problem with these predatory lenders is those of us who find ourselves in a life situation that causes the desperation to even consider such an option then become trapped in the cycle. I believed I had resolved my issues with WLCC d/b/a XXXX XXXX last spring. 

On XX/XX/XXXX, my cell phone rang once with a number I did not recognize. I called it back and the individual who answered never identified the company and simply said Hello. I said, I received a call from this number. He said, Well, you actually called me which I did not. I asked whom I was speaking to and he said XXXX XXXX. I assumed it was a call to entice me into another predatory loan, so I hung up. This individual ( XXXX XXXX ) then called my work number and left a message stating he would email me with a new offer. I received the email. Mr. XXXX stated WLCC d/b/a XXXX XXXX would be willing to establish payments for the {$1000.00} I owe. I do not owe {$1000.00}. The offer claimed to be giving me a 30 % discount off my loan and with the discount, my amount due would be {$1000.00}. So with 30 % added, Mr. XXXX was claiming I owe {$1300.00}. The offer went on to say that if I pay the {$1000.00}, I could get a new loan within 5 business days of its payment. 

As much as it pains me to do so because I feel so utterly foolish and XXXX, I will outline my history with WLCC d/b/a XXXX XXXX. While I ultimately made the decision to enter into business with this predatory lender, it is critical that the authorities see the complete picture of the spiral and cycle of greed, predatory actions and harassment I experienced. 

WLCC d/b/a XXXX XXXX actually owes me money if we want to break it down. Per South Carolina ( my state of residence ) payday loan regulations, I should have only been charged $ XXXX/ {$100.00} borrowed. It was based on those terms that my account was placed as PAID/CLOSED/IN GOOD STANDING with Mr. XXXX, Collections Manager for WLCC d/b/a XXXX XXXX in spring/summer XX/XX/XXXX. 

In XX/XX/XXXX, I borrowed {$800.00} and repaid a total of {$1400.00} for that {$800.00} loan. WLCC d/b/a XXXX XXXX received the {$800.00} back plus profited {$630.00} from me on that loan. Based on the {$15.00} per {$100.00} borrowed, which is South Carolinas payday loan regulation, I should have only paid {$120.00} for this loan. WLCC d/b/a XXXX XXXX hides behind its tribal affiliation to justify its greed. Given I should have only paid back a total of {$920.00} and given WLCC d/b/a XXXX XXXX received {$1400.00}, I paid {$510.00} more than I should have. 

In XX/XX/XXXX, I then borrowed {$650.00} and repaid a total of {$1800.00}. WLCC d/b/a XXXX XXXX profited {$1100.00}. Based on the {$15.00} per {$100.00} borrowed, I should have only paid {$97.00} for this loan. I paid {$1000.00} more than I should have. 

In XX/XX/XXXX, I then borrowed {$400.00} and repaid a total of {$790.00}. They profited {$390.00}. I should have only paid {$60.00} for this loan. I paid {$330.00} more than I should have. 

In XX/XX/XXXX, I borrowed {$600.00} and repaid a total of {$750.00}. the profit was {$150.00}. I should have only paid {$90.00}. I paid {$66.00} more than I should have. 

In XX/XX/XXXX, I borrowed {$1000.00} and repaid a total of {$1200.00}. The profit was {$260.00}. I should have only paid {$150.00}. I paid {$110.00} more than I should have. 

My final loan was in XX/XX/XXXX for {$1000.00} and I repaid a total of {$1000.00}. At that point, I filed a complaint and reached an agreement with WLCC d/b/a XXXX XXXX that my account would be CLOSED/PAID IN FULL/IN GOOD STANDING based on the outrageous amount of money WLCC d/b/a XXXX XXXX got out of me. 

For Mr. XXXX to now approach me nearly a year later and demand {$1000.00} is unfathomable. When I responded to him yesterday stating my account should be CLOSED/PAID IN FULL/IN GOOD STANDING, he stated WLCC d/b/a XXXX XXXX  wants an additional {$260.00} from me. 

All totaled, WLCC d/b/a XXXX XXXX received {$7100.00} in payments for the {$4400.00} I borrowed over the course of my foolish relationship with them. Less than {$4400.00} in loan amounts, they received {$2600.00} in fees. Per South Carolina payday loan regulations, I should have only been charged $ XXXX/ {$100.00} borrowed or {$660.00} for the {$4400.00} borrowed. WLCC d/b/a XXXX XXXX collected {$1900.00} in excess of that. To now be threatening me to collect an additional {$1000.00} ( or even {$260.00} ) is OBSCENE, PREDATORY and DISGUSTING.

Company response to consumer: Closed with explanation