Consumer complaint received 2023-10-17
Company: LendingPoint Holdings LLC
State: OK
Product: Payday loan, title loan, personal loan, or advance loan
Sub-product: Installment loan
Issue: Problem when making payments

Complaint:
I have automatic payments set-up with LendingPoint for a personal installment loan. The payments are set to be deducted from my checking account on the XXXX of each month. Since XX/XX/XXXX, the payments have been coming out as arranged ; however, when reviewing my account statements in XXXX I discovered that the XX/XX/XXXX payment had not been deducted from my account. When reviewing my loan account on the LendingPoint website, it showed that the payment had been received. I waited a few days, then checked my bank account again and noticed that the XXXX payment still had not been deducted. It wasn't until XX/XX/XXXX that I received an email from the company stating that my payment had " not yet processed '', but that the XXXX payment would be deducted from my account on Monday, XX/XX/XXXX. The email also stated that the XXXX payment would still be deducted from my account as well on XXXX XXXX XXXX ( reference email included ). On Tuesday, XX/XX/XXXX ; I checked my bank account to discover that the XXXX payment had still not been deducted from my account. The payment continued to remain in my bank account and no contact was made from LendingPoint regarding the discrepancy. On Thursday, XXXX XXXX XXXX I attempted to log on to the LendingPoint website to access my account and at that point, there was an error message stating the the webpage had been taken offline, which made me even more confused and irritated. I then sent an email to the Customer Service department at LendingPoint and asked when the payment would be deducted from the account and expressed my displeasure with the inability to access my account information. I received an automatic reply stating that my email would be responded to within XXXX business day ( would have been Friday, XX/XX/XXXX ). The next contact I received from LendingPoint wasn't until Wednesday, XX/XX/XXXX, when an automatic email was sent to me vaguely addressing the payment delay and giving me the option to either process the payment on XXXX or contact the company for other options. I selected to have the payment automatically withdrawn on XXXX  The next day, XX/XX/XXXX ; I finally received a response from XXXX XXXX with the Customer Service department at LendingPoint. She stated that they were " working very hard to get all issues caused by the system merge resolved as quickly as possible ''. She also referenced the automatic email from the previous day and requested that I complete the steps in the email. As of today, XXXX XXXX XXXX ; the XX/XX/XXXX payment still has not been deducted from my account ; despite being told it would be taken out XXXX, XXXX and XX/XX/XXXX. This morning, XX/XX/XXXX, I reached back out to XXXX XXXX in the Customer Service Department regarding the continued delay of my payment and was told " the payment should process today ''. Regardless of whether or not the payment is deducted from my account today, I am appalled at the lack of communication from LendingPoint regarding the payment delays and the disregard for customers ' transactions. I consider this to be potentially harmful to consumers and as a banking professional myself, I am extremely shocked that a financial institution would be permitted to have such unfair and deceptive practices.

Company response to consumer: Closed with explanation