Consumer complaint received 2020-05-26
Company: Investment Evolution Corporation
State: AZ
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 recently had a conversation with Mr. Amazing Loans whom I took a Private Loan out with approx. 4.5 years ago. I called today to make a final payment ( paying off early to avoid interest ). And Mr. Amazing Loans makes it very difficult to pay your loan off early and their customer service agent hung up on me after verbally accosting me. On XX/XX/2020 at XXXX I sent a text message to Mr. Amazing Loans text-in services as I was inquiring on my account balance so I could make a payment in full. The responder to my text message never asked my name or any account verification pieces, simply sent back a dollar amount. I responded asking how to make my payment, she stated " ... If you would like us to debit your account you'd also have to provide me a screenshot of your bank account balance. '' I decided to call in as I am not comfortable sending a screen shot of my private bank account balances to a XXXX area code phone number with someone who has not introduced themselves or taken the time to verify I am the owner of the account. I called in at XXXX PST same day and had to leave my information with an answering service, a few minutes later I got a call from Mr. Amazing Loans and it was the same person I was texting. The answering service, nor the customer service agent, verified my information or verified I was the owner of the account. She again told me over the phone that she will not authorize my payment unless I send her a screenshot of my bank account. I asked the reason and she stated it was " for the company to avoid paying return check fees. '' I let her know I was still not comfortable texting her that information and I would be happy to pay any return check fees if the debit was declined. She then told me I could go to the bank, request a certified check and mail it in, but she was unable to tell me how much interest would accrue during that time, meaning I had no actual pay off amount. I also expressed to her that I am under self-isolation due to XXXX contact and that is when she started to yell at me. The agent told me I needed to stop " antagonizing her '' and " arguing the policy. '' I asked to speak to a supervisor and was told she was out of office and I'll get a call back 'hopefully tomorrow. ' I again asked if I was going to accrue daily interest on my loan and she said yes, you will just have to pay that as well. I asked her if that was a fair lending practice as I want to make a full payment today and she responded with " You have exactly 20 minutes to respond to your text authorizing payment and I will break policy this one time for you. '' I asked the agent if she could text me a recap of this conversation and I will reply to that one, to which she said " NO, YOU HAVE THE TEXT THREAD AND NOW YOU HAVE 20 MINUTES TO RESPOND OR YOUR NOT PAYING TODAY. '' She then hung up on me. I did authorize my payment via text 18 minutes later, with some reservations and lack of trust, and she responded I was too close to the deadline for the payment to process today, it will process in two business days ( I did not provide a screenshot of my bank account ). 

I will be happy to provide screenshots of my conversation in a more secure matter if needed. 

I am curious if a lender has the authority to request a screenshot of your bank account information via text message to make a payment on an account using the same payment method that has been on file for 4+ years, I am curious if the company is in breach of TCPA guidelines with this text messaging and I am curious if they are allowed to accrue more interest if they refuse to take your payment over the phone ( she did also state my verbal authorization would not work, I have to authorize via text only ). And last, I am curious if they breached privacy laws by not verifying me as an authorized account owner prior to divulging personal financial information. 

She told me that she is working remotely and its just too complicated to try to find a supervisor or someone else for me to talk to. She also told me that I should be more patient and just follow her directions instead of being difficult. She made me feel less than, or even belittled for having to use a payday type lender in my past and for asking, what I thought, were logical questions in a day and age of so much fraud. I am also curious as I just found out while searching XXXX how to handle this situation that Mr. Amazing Loans was just sued by the commonwealth of VA for similar practices and that they are no longer authorized to lend in the state of Arizona ( curious if they ever were able to ). Last thought, I assume their calls are recorded as most financial institutions do record calls. If so, I was never alerted I was on a recorded line, but I am in hopes they did so this recording can be requested if needed. 

Any guidance you may be ale to provide me would be greatly appreciated. I have already paid over XXXX dollars in interest on this loan without ever having a late payment ( I pay XXXX weekly ).

Company response to consumer: Untimely response