Consumer complaint received 2016-10-18
Company: Select Management Resources, LLC
State: KS
Product: Consumer Loan
Sub-product: Installment loan
Issue: Managing the loan or lease

Complaint:
This is the attached letter sent to XXXX XXXX, Attorney for Anderson Financial DBA Loan Max. Loan Max did not clearly disclose to me and here is her reponse to me.. 

XX/XX/XXXX Anderson Financial Servicers Attn. Attorney XXXX XXXX On XX/XX/XXXX, per our phone conversation, I stated I would respond to you my position concerning your proposal. Your proposal for each vehicle you are proposing a {$75.00} payment per month beginning XX/XX/XXXX and ending XX/XX/XXXX, with a lump sum payment of {$970.00} on XX/XX/XXXX, for the XXXX. As you know there was a payment submitted XX/XX/XXXX of {$220.00}. This should have brought the principle amount to {$740.00}. Concerning the XXXX vehicle, you are requesting the same {$75.00} per month payment for the next three months with a full payment due {$1800.00} due XX/XX/XXXX. The original principle amount was {$1500.00}. 
As you know, in my complaint listed with the XXXX, there is not enough disclosure concerning the details of the loan. With that said, I would like to propose a monthly {$100.00} per month for the entire balance including interest for next 24 months. 
Please let me of your response. 

Truly Yours, XXXX XXXX XXXX Here is Attoney XXXX XXXX 's response. She is not willing to accept my latest proprosal which would be much more affordable to me. Instead she is making a demand that I accept her proprosal and issue a payment for both vehicles by XX/XX/XXXX. I need something that is more affordable than what she is proposing. 
Dear XXXX XXXX, The company operates in strict compliance with state and federal laws and has committed no wrongdoing. The terms, conditions and cost of the loans were fully explained to you by the company 's personnel, as well as on the loan documents in compliance with the Federal Truth in Lending Act. Based on the monthly income and expense information that you entered on your applications, the loans ' schedule monthly payments were within your ability to repay. At no time did you indicate that you were confused or did not understand the terms of your loans. 

On XX/XX/XXXX, you borrowed {$1000.00} using your XXXX XXXX as collateral for the loan and to date, have submitted one payment of {$260.00}. Also, on XX/XX/XXXX, you borrowed {$1500.00} using his XXXX XXXX as collateral for the loan and to date, have not submitted any payments. Despite your contentions, the company has made every effort to work with you ; however, he have been uncooperative. 

Notwithstanding the above, the company is a consumer focused lender and is always willing to attempt to work with customers as opposed to repossessing a vehicle. Thus, in a good faith effort to assist you, the company is willing to settle your accounts for reduced rates as set forth in the attached agreements. If you are interested, you will need to sign both agreements and submit your first payments by XX/XX/XXXX. 

If you have any questions or concerns, please feel free to contact me. 

XXXX XXXX Assistant General Counsel Select Management Resources , LLC XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Georgia XXXX Tel : XXXX Fax : XXXX Cell : XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief