Consumer complaint received 2017-10-09
Company: MIDCOUNTRY FINANCIAL CORP
State: AL
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Problem when making payments

Complaint:
I am a US veteran of 20+ years and I would like to report the unfair financial practices by a financial services company by the name of XXXX XXXX ( a military lending division of XXXX XXXX ). I  applied for a loan in XXXX of last year and was approved. I needed the loan to offset the cost of expenses as the result of living on a fixed income ( military retirement pension ). The original loan amount was {$1400.00}. The loan has a fixed number of payments ( 1year ). Payments started in XX/XX/XXXX and are to end in XX/XX/XXXX, but because of financial difficulties in XX/XX/XXXX, numerous interest rates and service charges have been added to the principal of the loan. As a result, repayment of the loan will have to be extended past the maturity date of XX/XX/XXXX ( all payments can be completed by XX/XX/XXXX). In addition to the increased amounts on the loan, my otherwise very good credit has been ruined and my credit score has dropped dramatically because XXXX XXXX ( a  military lending division of XXXXXXXX XXXX ) has " flagged '' me with a 30-day and just recently a 60-day late payment on my account with all three credit bureaus making it impossible for me to apply for any future lending. On top of that a " hard inquiry '' was placed on my XXXX credit report which I did not initiate. I am requesting removal of these negative items from my credit report from all three credit bureaus and the " hard inquiry '' from my XXXX credit report again which I did not initiate. I have made a recent loan payment of {$130.00} toward my balance of {$710.00}. Since XXXX of this year, I have been trying to get someone at XXXX XXXX ( a military lending division of XXXX XXXX ) to work with me on lowering my monthly payments and to stop payment by military allotment to my bank account. I 've had numerous NSF ACH direct debits on my checking account and several NSF fees added directly to the amount owed. I have always demonstrated a " willingness to pay '' when it comes to paying debts. This account is the only account on my credit report showing a negative status. I spoke with a representative at XXXXXXXX XXXX to discuss the status of my account. I was advised by this individual to restrict all communication with XXXX XXXX as there might be a misunderstanding in information regarding my account. So I did. This also raised a flag concerning the unfair practices and treatment of consumers at XXXX XXXX ( a military lending division of XXXX XXXX ) especially towards veterans, servicemembers, and their families. As a XXXX veteran, I am hopeful that I can get this agency to do all it can to help me with this situation because I do n't know where else to turn to. I am reminded of a certain senator in Washington DC who would be very interested in the " credit protection measures '' of the Military Lending Act being applied to veterans, servicemembers, and to their families. Thank you very much Consumer Financial Protection Bureau for being there when we need you the most. 

Hopefully this can be resolved at your level. Thank you. 

PS. Please address these concerns to the Assistant Director for the Office of Servicemember Affairs.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation