Consumer complaint received 2024-05-31
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with additional add-on products or services — 
Company: ENOVA INTERNATIONAL, INC. (MD)

I am contesting this loan with XXXX as I am dissatisfied with the outcome of being denied a re-negogiation of the contract I have with them. I received a loan ( {$30000.00} with {$13000.00} extra as paid interest ) in XXXX of this year where on a recorded line, XXXX XXXX, a sales rep went over the contract with me. Once we went over the contract, he stated that once I got approved for the loan, I would be able to apply for a business line of credit ( XXXX XXXX within a month. My plan, which I share with XXXX was to transfer the initial loan to the XXXX  for a better payment rate. I decided to go with this contract with that in mind and it being a major part of my acceptance to sign off on the contract. I waited 2 months and paid about {$10000.00} back on the loan to apply for a XXXX  with XXXX XXXX, my account manager. After applying, XXXX informed me that my application was denied because of overall exposure limit based on the term loan as the primary reason ( please see attached email receipt ). After I spoke to XXXX on the phone not long after the initial notification, she further explained that I was denied because of the very loan I had just received from XXXX. What is misleading is that I was informed by XXXX, a sales rep, that after I took the loan, I would be able to apply for a XXXX  within a month. After I waited 2 months, paid about {$10000.00} back and applied for a XXXX I was denied because of the initial loan. Furthermore, this insinuates that I was never eligible to apply for a XXXX  with XXXX within a month because the new loan dis-qualified my application according to XXXXXXXX XXXX requirements. This is crucial information that should have been disclosures to me as it heavily affected my decision to take this loan. XXXX was aware of my intentions as we had in-depth conversations about strategies and business goals. I was mislead to thinking that I would be able to apply for a XXXX within a month after I signed off on the loan. This is misleading, deceptive and not operating with clean hands. This is fraud in the inducement. I am left to pay over {$3000.00} monthly on this loan, told to wait a few months to re-apply for a XXXX  and have been provided remedies that only further leave me in a bind and ruin my credit. After voicing my concerns to XXXX, XXXX manager, on a recorded line, he agreed and stated that he understood how I could have felt mislead and said he would share some feedback with XXXX. After that conversation, XXXX has not been helpful in solving this matter. I have lost all trust for XXXX as I do not believe the team is operating in good faith. Under the Truth in Lending Act ( TILA ) - Codified at 15 U.S.C. 1601 et seq., TILA requires lenders, including banks, to provide consumers with clear and conspicuous disclosure of the terms of credit before they are bound to any credit agreement. This includes interest rates, fees, the amount financed, and the total cost of the loan. I have attempted on several occasions to resolve this matter with XXXX but they refuse to take any responsibility for the matter. I have been trying to negotiate this for the past 2 months and I have been getting no help and the XXXX team have stopped responding to me. I am looking to re-negotiate the contract with a lower payout amount so I can do an early payout and be done with this loan because of the deception and miscommunication of a representative of XXXX. Account : XXXX ( XXXX XXXX # XXXX )