Consumer complaint received 2023-06-08
Company: Special Financing Company, LLC
State: NV
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Problem with additional add-on products or services

Complaint:
I started my own business, XXXX XXXX XXXX, XXXX and signed up with XXXX, a white label agency to help me scale my business. During the process of starting the business, I was laid off from my previous employer, XXXX XXXX. Outside of monthly VA XXXX payments and XXXX on the side, I had little income coming in for financial stability. On XX/XX/XXXX at approximately XXXXXXXX XXXX, I was on a XXXX Call with an XXXX  representative and informed him that I was laid off from my job and could not afford their services to continue. I was told by the representative that if I signed up for their XXXX  elite program, they could help me scale my business within 14 to 30 days with the goal of making $ XXXX monthly. I could not afford their payment plan so they informed me of a financing option to help me get started for their business mentorship program. This is where Special Financing Company , LLC, who financed the program through a loan. The contract with Special Financing Company was signed and a first payment was made on XX/XX/XXXX of {$450.00} and my 2nd, most recent payment made on XX/XX/XXXX. After that was done, I begun working with the XXXX elite program on XX/XX/XXXX and went through the onboarding steps and met for their weekly XXXX  call meetings to cover different topics. The first key onboarding step was to send my niche worksheet to the main business head coach at the time, XXXX XXXX so I can have my one on one XXXX meeting to discuss the strategy to get my business moving forward. 3 weeks passed with no response back concerning the niche worksheet I sent, via on his XXXX inbox. As that time elapsed, a new head coach took over, XXXX XXXX. I sent him the same niche worksheet to get a meeting, however there was no follow up on XXXX 's end and more time went along without getting the direction I needed from the first primary step they recommended to scale my business quickly. Last week, due to the financial stress I have been under from being unemployed with the little income I make from XXXX which has occupied most of my time, VA monthly XXXX checks which is not enough to cover my rent from my recently renewed lease last month, being unable to file for unemployment due to my last employment being a contracting job that's a XXXX with XXXX XXXX, and applying for food stamps under the XXXX XXXX, I requested a resolution XXXX call with XXXX  to have my contract forfeited due to lack of delivery of services promised to me, being unable to afford continuing the monthly payments of {$450.00}, and facing the risk of eviction for not making enough to cover rent. The first resolution meeting was scheduled for Thursday, XX/XX/XXXX at XXXX with XXXX XXXX from the XXXX resolutions team. XXXX did not show up for that meeting that was scheduled ahead of time since he was on another meeting, thus the meeting was rescheduled for the next XXXX hours, XX/XX/XXXX at XXXX. Once again, XXXX did not show up on the Zoom call, but called me at approximately XXXX by phone. He told me that there was nothing he could do and that though my monthly payments were covering the XXXX elite program, they were going to Special Financing Company. I asked XXXX if I contacted Special Financing Company, would they help me forfeit the contract, he told me repeatedly that all they will do is refer me back to XXXX and will not help me per what was on the contract. I decided to call Special Financing Company, today, XX/XX/XXXX, at approximately XXXX XXXX to request no more payments be withdrawn from my debit card/bank account by having the payment authorization removed. I was told by the female customer service rep on the line that I had to email XXXX with a written request to have this done. This additional step was NOT on the written contract on page 7 out of 10, under the Optional Recurring Payment Authorization section, I had a choice to cancel on the phone or email. On XX/XX/XXXX another breach of contract occurred. XX/XX/XXXX at approximately XXXX, I got a notification from XXXXXXXX XXXX that Special Financing Company withdrew a payment of {$450.00} from my debit card. On the same day, at approximately XXXX, I contacted Special Financing Company by phone, their phone number XXXX, and spoke with a female representative asking her why did they breach contract again by taking more funds after I emailed them telling them DO NOT take anymore money from either my bank account or debit card, yet they still did. She asked if I emailed them to the email address that was provided, XXXX, telling them I do not give them ANY consent furthermore to take any funds from my account. She proceeded to lie by saying that I did not email them and have no receipt of me ever emailing them. They already breached contract the first time stating I had to both call and email them a written request to that email address, terms which were NEVER specified in their DocuSigned contract on page 7 of 10 under the " Optional Recurring Payment Authorization '' section, but I had the choice to either call or email and they would end the authorization. I called them, following the guidelines of the contract but they failed to do their own part according to their own contract. I am a Veteran that's currently below the poverty line trying to work myself out of debt with my new business. Because of their withdrawal of my funds on XX/XX/XXXX which I clearly stated I did not permit, I was in the negative in my bank account and dealing with emotional distress, while I'm already seeking help from the VA and vet center due to XXXX symptoms. My complaint was originally filed with the Attorney General 's office but I was referred over to CFPB as the more appropriate authority to help me resolve this issue.

Company response to consumer: Closed with explanation