Consumer complaint received 2016-11-19
Company: ONEMAIN FINANCIAL HOLDINGS, LLC.
State: AL
Product: Consumer Loan
Sub-product: Installment loan
Issue: Problems when you are unable to pay

Complaint:
I called to make a payment. While on the line with the rep I began asking some questions about my account ( balance, etc ). She confirmed that I had made XXXX out of XXXX payments. I advised her that her information was n't correct as my loan was for a XXXX month term. She said that she was showing XXXX. So I went home and found my contract and it clearly stated XXXX months. So I called back the next day thinking this was an error on their part and it would be corrected. Instead I was on the phone for over an hour arguing with them telling me that I had signed an agreement to change the term to XXXX months. I told them that I had never signed an agreement to add XXXX months of payments to my account as this would be CRAZY. First of all my balance has not changed, my rate has not changed and my monthly payments have not changed. Nor have I received any additional funds. Therefore, it would make no sense for me to sign anything adding XXXX additional payments to my loan. I have called a number of times to get this corrected and I am either met with arguments stating they have a signed agreement from me or I am told the matter will go to the complaint department and I will receive a call back, which I never get. To provide additional info ; there was a time when my account fell a couple of months past due. I received a phone call from their collection department wanting to know how I planned to catch the account up. I told them that I was going to double up on the payment to catch it up. They offered to help me out by saying if you agree to making 4 consecutive payments at your usual payment amount on time, after the fourth payment is made, we will remove your account out of a delinquent status and make it appear as current. I agreed to this and also set up auto debit for the four payments to make sure that they would be paid on time. They also asked to me sign a statement saying that I agree to this arrangement, which I did. However, not at any time was it ever discussed or provided in writing that I was signing any type of renewal agreeing to an additional XXXX payments. Now they are telling me that this is what I signed. I told them that this makes no sense, my account falling behind a couple of months is no justification for them adding XXXX payments to my loan. I also told them that it is possible that their collector presented falsified documents as I would have never signed anything like this. I only signed off on an agreement for the payment arrangement. Furthermore, it simply does n't make sense. I have repeatedly asked them to justify having their customer who has received no additional money to make XXXX additional payments. Mind you, my monthly payments are {$240.00} and my rate is 35 %. This was for a {$6000.00} loan. The XXXX added payments will profit them an additional {$4100.00} after the XXXX months of payments pays loan off. This is with no reasonable explanation other than them alleging that I agreed to this. I have repeatedly stated to them that this is not what I agreed to and have given opportunities for them to make it right, but they are leaning on their alleged signed papers saying I agreed to add XXXX payments when I renewed the term. Now how in the world did that help me? Again, my balance is the same, payments are the same, and rate is the same. How did a supposed renewal agreement change or help me other than to give them XXXX more payments? Please help.

Company response to consumer: Closed with explanation