Consumer complaint received 2019-06-18
Company: Regional Management Corporation
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Problem when making payments

Complaint:
I took out a loan from Regional Finance in XXXX Texas on XX/XX/2019. I started to get behind are XX/XX/2019 due to my husband getting injured and being out of work. Around this time there was also a flood in our area that caused issues for many people. I called because I was unable to make my payment due to both of these reasons and I was told by XXXX they could defer one payment for {$25.00} to help me, but I had to only pay in cash and I had to come into the store. I explained I was unable to come into store because of flooding, but I could make the payment over the phone. They refused, so when I was able to make it to the store XXXX said I was to late and they could not help me. I called the district and spoke to XXXX and she informed me that I was actually able to do 2 deferments so I set that up with XXXX. I did ask XXXX what happens if I cant continue to make the payments because of everything going on with my husband, because I did not want them showing up to collect collateral and she informed me they do not take collateral yet I was required to add it to my contract and sign on it. If I provide false information I can get in trouble, yet they are making people sign a legal contract with threats they never intend to follow through on. I ended up still having issues getting into the office for the 2 deferments because of my work schedule and not being able to miss because I am the only person working right now. XXXX told me to make sure I came in before XX/XX/2019. I went in on XX/XX/2019 and XXXX told me the deferment was no longer available because I was another payment behind, which I was not and I had to tell her that a couple times before she told XXXX to go ahead and see if the computer would allow it, which it did because I was not 3 payments behind. While I was there I brought up the collateral again and asked her why I signed a legal contract putting my property up if they never intended to take it. XXXX said it is just part of the contract. So I asked her what happens if someone does not pay the loan back and she said they try to always work things out. I explained I am sure there has someone somewhere along the way who has broken there contract and I wanted to know what happened. She said they will send an officer to their house or job. During my previous calls XXXX told me that they serve you at home and you can go to jail, which again is a threat. One thing I have not told them is my address information in my contract is not spelled correctly, on not only one page, but two. My contract says I am required to carry insurance on my collateral, yet I asked them and they said that doesn't apply to me, yet it is in my signed contract. XXXX has been working at the XXXX office for 5 years and has NEVER taken collateral yet everyone has to legally sign that in their contract. I have recorded these conversations. Also, there are many times I call to speak with XXXX and XXXX answers. She will hang up on me before I finish talking, cut me off, and when I went up there to get a copy of my contract she made me wait while she joked around with her friends. When she finally did address me all she did was hand me my contract and walk off. She never spoke to me and when I leave messages no one ever returns my call like they never got the message.

Company response to consumer: Closed with explanation