Consumer complaint received 2023-07-14
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: Momnt Technologies, Inc. (TX)

On XX/XX/XXXX, I entered into a contract to renovate my master bathroom. The merchant offered me a 0 % interest loan if paid in full in 6 months through their embedded financing. Momnt technologies at XXXX XXXX XXXX # XXXX, XXXX XXXX XXXXXXXX is the loan servicing company and XXXX XXXX at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX is the lender of credit. After I signed the contract 100 % of the funds were released to the merchant ( aka they were paid in full vs drawing on the loan as work was completed ). The way this was presented was extremely deceptive. Once the funds were released, the level of communication with the merchant dropped off significantly. My initial walk through didnt occur until XX/XX/XXXX and the demolition of my bathroom didnt occur until XX/XX/XXXX and only after I made several calls to the merchant to begin work. After the demolition, the crew disappeared and I made no less than 13 calls to the vendor between XX/XX/XXXX and XX/XX/XXXX to get commitment to come back to the job site, mostly with no response or no commitment to do any work. This is documented in the scheduled issues tab of my attached question tracker xls. On XX/XX/XXXX I called Momnt, the loan servicer, and opened a ticket XXXX. On XX/XX/XXXX, the merchant sent a plumber to complete the plumbing work which was extra cost to me ( that I paid directly to the subcontractor ) and explicitly excluded from the contract. On XX/XX/XXXX, Momnt closed my ticket with no resolution and with claims that they had tried to contact me ( which I had no missed calls or emails on record ) and despite the fact that XXXX of the contracted build back work had been started. On XX/XX/XXXX I sent an email again requesting that the ticket be reopened and reminding them of my initial request to either extent the loan or put the loan on hold and suspend interest accrual until the merchant actually made any kind of commitment to deliver. This correspondence is in attached email XXXX. On XX/XX/XXXX, I opened a second ticket with Momnt XXXX detailing the continued lack of response or commitment from the merchant to complete the work. This communication is attached in XXXX. Momnt had indicated as part of their agreement with the merchant that the Merchant is supposed to maintain contact with the customer and that Momnt is there to work with me to ensure this is happening. However neither party is holding up their end of the deal and I am now faced with paying off a loan for services that have not been delivered and losing any kind of leverage I may have or accruing interest and making payments on the loan. On XXXX, the merchant did send XXXX person to begin tile work. After 2.5 days that individual disappeared and has not returned as of yet. They have also not returned multiple requests for scheduling any further work or delivering the materials I have paid for. The full communication with the merchant is detailed in my question tracker spreadsheet in the questions tab and the punchlist tab details the work done to date vs yet to be completed. Additionally, Momnt has provided 0 customer support in terms of resolving this issue. They do not respond to emails to their support email and their phone support is difficult to get a hold of. It seems that their representatives are always busy and when you select the option to receive a call back, they never cal you back. Also, you cant wait on hold as after a while they force you to select the call back option. You have to keep trying and hope to get lucky to get a person on the phone. When that happens, the only updates I get are that the ticket is open, in progress with no updates and no date for resolution, all the while I am accruing interest that is coming due next month. On XX/XX/XXXX I called and request a call back which I got 0. On XX/XX/XXXX I called 4X before getting a person who told me ticket was in progress. On XX/XX/XXXX I called 3X with no answer before requesting a call back which I got 0. I called again on XX/XX/XXXX with no answer and then twice on XX/XX/XXXX, 1 time for each ticket with no updates. I also called XXXX XXXX twice and they directed me back to Momnt both times. At this point, I feel like I have been scammed all the way from the merchant to the servicing company.