Consumer complaint received 2020-03-04
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem when making payments — 
Company: Paramount GR Holdings, LLC (CA)

We got a personal loan to purchase our solar equipment in XX/XX/XXXX. Our billing due date was the 4th of every month with our first bill being due on XX/XX/XXXX for {$140.00}. We sent in our first payment of {$150.00}, via our bank on XX/XX/XXXX and it was received on XX/XX/XXXX per our bank. After a few months, we stopped getting our monthly paper statements, so we contacted Loan Pal and requested our paper statements. We got the one for the following month, then none after that. We contacted them again a few months later, but no statements followed. Regardless, we continued to make our payments approx every four weeks via our bank at the amount of {$150.00} Sometime around XX/XX/XXXX, we started getting calls that we were behind on our payments. We told them that we knew we were not, and again requested that they send us a copy of our statements along with our payment history. They did not send one. In XXXX, I was able to email the company, and talked to a representative about the issue. They sent me a payment statement, and that is where we discovered the issue, after comparing it to our bank payment history. When we did so, we noticed that they were not processing the payments timely, causing the account to show the payment as " late/no payment '' ( for example, we made a payment on XX/XX/XXXX and it was not processed until XX/XX/XXXX. There was no consistent payment processing time frame and it ranged from the soonest being 3 days after payment was received to 23 days after payment was received ) .The representative and I were able to resolve the issue after that proof and was told that our account would be corrected and that they would be better with managing our account. 

Then in XX/XX/XXXX, we get a letter ( still haven't received any statements ) stating that we hare two months past due on our account. We call them and tell them that this is a mistake, and that we should actually be a month ahead with our payments now. The representative looked through the account, apologized and saw that they had received our payment " today '' ( we had sent our most recent payment XX/XX/XXXX and they received it XX/XX/XXXX ) and that everything was " good '' now XXXX no mention of the other payment ). The representative said that we could avoid future issues if we enrolled in auto pay and that when we do that, they receive their payment " within minutes '' on the due date. That is what all their other customers do, and have had no issues. I declined and told her that we will continue paying manually via our bank. Their response was that we can expect to continue to have the same issues that we have been having. 

Now they are starting to report to the credit bureaus that we are 30 days past due ( they had not been doing that before ). I contacted Loan Pal to tell them they made a mistake, and they said they had not, and emailed me a copy of my payment history with them. The last date on the payment history was XX/XX/XXXX XXXX the date I got the copy of the payment history was XX/XX/XXXX ) and we had made two more payments between the two dates. I then emailed them a copy of our payment history via our bank, with the message to " please review attached bank statement and update/correct the account ''. 

Because they are processing our payments on the date that it is due, and not on the date they receive them, combined with not processing a second payment AT ALL in the same month that they got the first payment is allowing them to say that our payments are late/missing when they get our payment the following month. 

I do believe this is illegal.