Consumer complaint received 2022-07-29
Company: Miller and Steeno, P.C.
State: MO
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Charged fees or interest you didn't expect

Complaint:
Approximately around XX/XX/XXXX I received a installment loan in the amount of {$690.00}. I fell on hard times and defaulted on my loan. XX/XX/XXXX a garnishment was filed in court in the amount of {$1700.00} with XXXX percent per annum. I completed the payments for this garnishment on XX/XX/XXXX. On XX/XX/XXXX another Garnishment in the amount of {$2600.00} was sent to my employer. I contacted the collection firm Miller and Steeno PC out of XXXX  XXXX MO to try to understand why I was being garnished again and I completed the last garnishment. I spoke with XXXX & XXXX, both these people stated that " it was the responsibility of my employer to contact them at the end of the loan to determine if there was an additional balance that needed to be paid '' and because they failed to continue payments I am now in default again and this continuous garnishment in the amount of {$2600.00} was due to interest accrued while making payments on the {$1700.00} garnishment. They also stated my employer should never stop making payments until they receive a debt settlement letter. As my employer stated, they cut the payments off once the requested amount on the garnishment is reached. My employer does not know to calculate interest into payments or to reach out to the collector to verify if there is still an outstanding balance. I did not know that that was something that had to be done. Unfortunately, I have been garnished before and this is the only company that has a continuous garnishment requesting ridiculous amounts of money when the principal amount has been paid plus more. The collection agency Miller & Steeno also stated to me that the next statement of judgement will be sent 6 months from the date of this second garnishment which they have a 6 month date of XX/XX/XXXX on my Statement of Judgment Balance remaining. This will continue to be an ongoing process as each continued garnishment accrues interest as I am making payments, so it will never stop I will always have a balance unless I make a lump sum payment that I can not afford to make, I do not have lump some money to give. I take full responsibility for defaulting on my loan and accepted that I had to pay back {$1700.00} as a result ; but at this point this will continue to be a thorn in my side like a never ending story as every time I complete one garnishment there will always be a remaining huge balance due to the huge amount of interest accumulating at a ridiculous rate for as long as I take to make the payments to settle one continuous garnishment. I can not for the life of me understand how this is legally possible to get a {$690.00} loan and to have to pay back at this point I'm at {$4400.00} and that amount will get bigger as the interest at XXXX percent per annum will continuously accrue while I am trying to make payments to satisfy each judgment. This is extremely heartless and straining on consumers trying to maintain in life.

Company response to consumer: Closed with explanation