Consumer complaint received 2017-05-31
Company: Risecredit, LLC
State: CA
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
In   XX/XX/XXXX I app lied for a {$2600.00} loan through  RISE Credit. When the loan went through, I realized the APR was absolut ely outrageous, so I followed their cancellation procedure and they took the loan back out of my account within 5 days. That was on   XX/XX/XXXX    . Then, two days later on   XX/XX/XXXX  t hey emailed me saying they had an ACH error and " accidentally debited my account TWICE '' but would correct the debit. My bank declined the second debit as I notified them, and forwarded them the email they sent to me about the error.  <P/> Since my bank declined the second attempted withdrawal, as it was an error and I did n't have an extra {$2600.00} just sitting in my bank account RISE then placed a decline on the return of funds for the initial loan as though it was never returned. They started saying that I never returned the loan to begin with and that the transaction was declined!!! Only the second debit was declined. The initial loan was returned, the second attempted debit of  XXXX  $ was declined. The second attempted Credit of  XXXX  was also declined. I then made phone call after phone call and email after email. I sent them my bank statement documentation, and thought the matter was settled.  <P/> But ... .they kept sending me daily emails saying I needed to make my payment, my payment was late, my payment was delinquent, etc. etc. I called them over and over and each time a different rep told me something differe nt. One rep would say, " oh, your loan was cancelled-just disregard the emails-the y are automated ''. They also kept calling me everyday. I was not comfortable with the answers they were giving me. I kept calling them trying to get this thing resolved, lots of verifying info, explaining the entire story, over and over, being transferred, disconnected, and calling back starting over confirming my personal data and explaining the story from beginning, over and over. I cant tell you how many times I was disconnected, it was enough to put someone like  XXXX   XXXX  in the nut house. I did n't think I should be getting daily calls and emails if the loan had been properly cancelled.  <P/> Last time I talked to someone named  XXXX  in   XX/XX/XXXX     I emailed her all the documentation she wanted, which was bank statements showing the transactions, after doing that I thought it was all taken care of. I told her to make sure I did n't get any more calls and emails I thought it was finally handled after two months of total chaos.  <P/> Fast forward to   XX/XX/XXXX   and I see a " charge off '' on my credit report for over {$4800.00} from RISE. It went on the repor t  XX/XX/XXXX    a nd lowered my score by  XXXX  points!  XXXX  had put me down under some sort of " do not contact '' status so they stopped contacting me but did n't get the issue resolved!  <P/> So, today I made more phone calls, and now I am waiting on another rep to help resolve this named  XXXX . She was actually the first person I 've spoken to who showed some compassion for my dilemma since this is clearly an error on their part. ( Or maybe someone who works there pilfered this money and created this entire problem, knowing it would take months to figure out what exactly happened??? -I 'm starting to wonder if this was an inside job ). Errors like this are unheard of, an accidental debit of {$2600.00}?!?! This error on my credit report is literally going to create a major hardship in my life as I happen to be applying for apartments and my  credit score is  critical. Which is why I happened to see this on my credit report today.  <P/> Since it is now 9 months since I got the loan and returned it, all prior attempts at contacting RISE to rectify the situation have been in vain, I 'm concerned that I can trust this organization to correct their error once more. So, I 'm filing this report.

Company response to consumer: Closed with explanation