Consumer complaint received 2019-09-14
Company: ENOVA INTERNATIONAL, INC.
State: AL
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Charged fees or interest you didn't expect

Complaint:
On XX/XX/2019, CashNetUSA deposited {$2000.00} into my checking account after approving me for a {$2000.00} credit line. I read the information and didnt see the monthly payment amounts. I reviewed my documents & could not find the payment amount. I was desperate and needed to pay a bill. So a week later I called them to inquire about the monthly payment to find out that this credit line was a payday advance. I was told the payment amount would be {$290.00}. I asked if this was monthly & was told biweekly. I asked biweekly for {$2000.00}. Customer Service Representative said yes. I said I can not afford to pay {$600.00} per month for a {$2000.00} credit line. No help offered. 

The stated fee was {$17.00} per {$100.00}. {$17.00} x 20= {$350.00} for {$2000.00}. With fees the payoff was estimated to be ~ {$2400.00}. 

XX/XX/2019 - {$290.00} withdrawn from my XXXX XXXX XXXX account. 

XX/XX/2019 - {$330.00} withdrawn from my XXXX XXXX XXXX account. At this point the increased payment was never disclosed & caused me to overdraft my account. I called Customer Care to discuss & there was no solution. I informed the worker that I could not afford to pay that amount as I am on a budget. She said there was nothing she could do. I asked what would happen if the money wasnt in the bank. She stated collections will handle it. I said I needed to speak with someone that could assist with the payment being decreased. She said she could postpone the payment. I asked if she could postpone the payment until XX/XX/2019. She said I could postpone until XX/XX/2019 but I would still have a payment on XX/XX/2019. I asked could I pay the entire bill off before then and was told yes. 

XX/XX/2019 - I paid the listed account payoff balance of {$1900.00} before XXXX CT but wasnt able to pay on XX/XX/2019 due to CashNetUSA having a prepopulated date of XX/XX/2019 as the next available payment date. 

XX/XX/2019 - CashNetUSA withdrew {$2000.00} from my XXXX XXXX XXXX account without my knowledge. The online payoff amount stated {$1900.00}. There was no other amount indicated for me to pay. They withdrew {$110.00} extra from my account without informing me. 

XX/XX/2019 - CashNetUSA sent an email stating my next payment in the amount of {$64.00} is due XX/XX/2019. At this point Im thinking the company is a scam. 

XX/XX/2019 - I called to discuss the {$64.00} balance. The Customer Service Representative could not explain the {$64.00}. She then states that {$330.00} more is due on XX/XX/2019 from the postponed payment I made. She said that wasnt included. I asked to speak with a manager. The unprofessional manager basically said I owe the money & they will get it. I asked to speak with her manager & was told she didnt have one. She said I couldnt speak with the CEO either. 

I am writing to request assistance with eliminating financial institutions from predatory lending practices. 

I am requesting assistance with ensuring that companies such as CashNetUSA clearly inform customers of the payday loan & not a credit line such as a Bank. 

I am requesting that assistance be made to ensure that all consumers know the payment amount frequency before the contract is signed. 

I am requesting for payments to be amortized for the length of the loans. 

This line of credit appeared to be a loan. I was told that it was like a credit card. My credit card payments only increase when my balances increase. 

I have a {$25000.00} loan that is less per month than this. 

This type of business should not be allowed. 

There should be options for individuals who can not financial afford to pay these institutions especially when latent information should be made clear & upfront. 

So far I have paid {$2700.00} for a {$2000.00} in 46 days. 

They are requiring me to pay an extra {$390.00}. This would make the total repayment to be over {$3100.00}. Over {$1200.00} interest paid in less than 8 weeks. 

This should not be. I can not afford to pay this & know those with less income would definitely sink with this predatory lending.

Company response to consumer: Closed with explanation