Consumer complaint received 2017-09-11
Company: Big Picture Loans, LLC
State: WA
Product: Payday loan, title loan, or personal loan
Sub-product: Payday loan
Issue: Problem with the payoff process at the end of the loan

Complaint:
I applied for a loan with Big picture loans for only a small amount of {$600.00}. I was approved and had the information sent to me via email. The interest rate was 694.669 % APR. I knew I only had a small amount of time to cancel and so I tried calling there XXXX number and was either on hold for an hour and had to hang up, or was disconnected multiple times. After the deadline had passed I realized that my only other option was to just pay it off as soon as I possibly could. 

The loan started the day I received the funds XXXX/XXXX/XXXX. 
The loan states that I will pay {$160.00} on the XXXX and the last day of the month in accordance to my paydays for a year. I knew I would n't have the full amount by the first payment on XXXX/XXXX/XXXX plus the interest so I submitted a payment online for {$250.00} on XXXX/XXXX/XXXX. 

My daily interest rate is 1.91507 % as stated in the loan documents. So on XXXX/XXXX/XXXX my {$250.00} payment should have left me with a principal balance of : {$430.00} and then when my normal installment of {$160.00} came out on XXXX/XXXX/XXXX I should have had a balance of : {$300.00}. However when I checked on my account online on XXXX/XXXX/XXXX to see what my priniciple balance was so I could put in for another {$250.00} payment it was above {$530.00}. The website still showed a " pending '' payment of {$250.00} on XXXX/XXXX/XXXX. I took a screen shot of this and called them. When I spoke with someone she repeatedly put me on hold, gave me ridiculous reasons for the online payment not being submitted ( like you placed your payment online before XXXX pm and that why it is still " pending '' ), and finally after being on hold over and over again for XXXX minutes - XXXX minutes they said they could submit the payment now but it would not be able to go through until Monday or Tuesday the next week because they need to processes this. Which made no sense because it was Thursday at XXXX pm. It should be processed immediately. However they lady I spoke with said that I would still be charged for XXXX more days of interest while it was " processing ''. After a long phone call with someone who I struggled communicating with and needing to get back to work I said fine just process the payment. 

They did process the next {$160.00} payment for XXXX/XXXX/XXXX but nothing for the {$250.00} and on the website it states I have a " pending '' payment of {$500.00} on XXXX/XXXX/XXXX, so to stop them from collecting anymore money XXXX or more money then they should be XXXX I closed that bank account and sent a certified, signature required piece of mail to them with a check for {$250.00}. Which once they received that I got an email stating that I had a returned payment of {$250.00}. I cancelled the check I sent to them 5 days after receiving that email, not seeing it clear my bank account/ or post to my big picture loans account, and after not receiving my check in the mail for fear someone else might use that check. ( I have had numerous credit cards be stolen from my mail box along with other mail, and did n't want to take the chance of the check being stolen as well. ) I strongly feel that they have been bullying me into paying more money in interest then I should by not processing my extra payments. I have printed screen shots of my account with them and I have emails they sent to me. I have paid them a total of {$320.00} and my account is currently at {$560.00}. If they had processed all the payments I have tried to send them it would be paid off by now.

Company response to consumer: Closed with explanation