Consumer complaint received 2019-03-01
Company: RFNA, LP
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Charged fees or interest you didn't expect

Complaint:
I am filing this complaint with some urgency as I found out last week that something I now know is referred to as a live check was mailed to me from a company I had never heard of at that time called XXXX XXXX. 

I now feel like this kind of marketing and act should be illegal as I feel as if I was tricked with a kind of bait and switch technique and preyed upon. 

I cashed this check on XX/XX/XXXX because of a special financial situation in which I was trying to help a family member on the east coast who was XXXX years old with some urgent financial needs that her retirement and social security could not address. 

I had thought when I cashed it that the interest rate was a normal and low percentage, but they informed me last week when I called XXXX XXXX that the check has an interest rate of 48 % which I did not think was legal. When I cashed the check I thought the interest rate was much lower and the interest I would be paying would be no more then {$200.00} or {$300.00} on a loan of approximately {$2200.00} but to my shock they informed me that this is the interest rate. I have already paid this company {$4000.00}, but they are now threatening to sue me and asking me to sign a consent judgement and pay them another {$2000.00} and a little over {$100.00} in attorneys fees which I was in shock to hear and I personally feel is just ridiculous, insensitive and cruel and in my opinion predatory behavior by first sending me a unsolicited check with an interest rate that high if that is the correct interest rate and then having me pay over {$4000.00} already and still requesting over {$2000.00} more on a loan of just {$2.00}, XXXX. If pay over {$2000.00} more I would have paid over {$6000.00} which is just not morally and ethically right and feels like I have been extremely taken advantage of and honestly tricked and conned. 

If this is not against the law I do not understand why it is not in order to do what is morally and ethically right and to protect the common consumer especially those who are in dire financially situations leaving them more vulnerable to companies like these. Especially the elderly and in my case when I was trying to help an elderly person with this loan. 

I am also complaining because I had called XXXX XXXX in XXXX of XXXX to give them my new phone number and ask them if I could call back the next month to make a payment. I expressed to them how important it was that this account stayed in house because I was concerned about my credit score because I needed to buy a car in the future. 

The person I spoke to assured me that would be fine and I can make the payment before the end of XXXX and he would put this in the system and notify the manager. When I called back this month ( XXXX ) to make a payment they informed me they did not have a record of this and that my account had been sent to a collection agency without notifying me by phone, or mail and giving me a chance to make a payment. When I called the collection agency they had already given it to an attorney as if they were trying to rush and sue me without giving me any opportunity at all to make a payment, or resolve this. 

When I called the attorney they spoke about something called a consent judgement which I was not sure what it is, but I informed him that I did not agree with the amount I owed and needed to speak to someone at XXXX XXXX  corporate offices, but no one called me back and I do not have any paper work or copy of the check I cashed showing the interest rate and terms, as well as detailed information about any other fees. 

I told him that I had 30 days to send in writing to contest the amount, but he told me that will not stop them from suing me, I guess if I do not sign a consent judgement. It feels as if I am being rushed and being done extremely fast which I do not understand because Im not being given the time it seems to defend myself. 


I also want to state that although I have paid over {$4000.00} on this loan as I stated one of their reps in particular from their branch location would try to pressure me to make electronic check payments before the funds were available which I would explain to her would not be available to a certain date and I was more comfortable with them processing it on that day when I knew they would be available, but she would insist on me allowing them to process a payment on the date she stated and would tell me not to worry because it took 2 or 3 days to process so by the time it processed the funds would be available. She informed me if I did not, that my account may go to a collection agent, so I did it trying to protect my credit, but each time she did this my payment was returned because it went through before she said it would and they charged me additional late fees and a return check fee. I explained this to the manager there and told him to please not have this particular woman ever call me again. 

I also would like to note that I was visiting in the state of Alabama and doing some contract work there when I cashed this check, but I am from XXXX California which is very strict about products like this and I do not this kind of product is allowed there, because they know companies like this can take advantage of consumers. The writing was very small on this check and I thought the interest rate was low. I do not remember reading anything that showed the interest rate was this high and I would like to try to get a copy of the check. I had also always assumed an interest rate like this was not even possible, or allowed and actually against the law as I stated. 

I am also concerned that the attorney, or XXXX XXXX will try to rush and sue me once they are aware of this complaint, but I know in my heart I have to do what is right for myself and other consumers who may come in contact with this company and try to resolve my own situation and be sure I and others are treated fairly because this is just not right. It just feels like I have been robbed and they are trying to hold me hostage and keep trying to rob me.

Company response to consumer: Closed with non-monetary relief