Consumer complaint received 2020-06-02
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: ENOVA INTERNATIONAL, INC. (GA)

In XX/XX/XXXX I obtained a personal loan Net Credit. The terms were unfavorable as I agreed to pay {$190.00} bi weekly at 58.9 % interest in exchange for a loan of {$7400.00} for a period 119 payments. The bi weekly payments started in XXXX & were paid on time until CoVid began. The last payment was made XX/XX/XXXX. Prior to my XX/XX/XXXX payment I called in and informed the customer service rep I will not be able to make my upcoming payment due to being impacted by CoVid. I was informed NetCredit  would be suspending late fees and late payment credit reporting until at least XX/XX/XXXX. After XX/XX/XXXX the decision would be made on whether or not to extend their suspension. Even though I was told this, I received 5 emails alerting of my past due balance, prompts to make a payment, and threats of negative credit reporting. On XX/XX/XXXX I called in to remove my ACH Authorization and was encouraged to defer my XXXX payment to the end of my loan if I was not going to be able to pay. Still impacted by CoVid, I did defer my XXXX payment. On XX/XX/XXXX I found out I would be able to pay the full loan balance. When I logged into my account there was a principal remaining balance of {$7300.00} + past due balance of {$390.00}, but when I went to make the payment the payoff amount was {$8200.00}. I called in to confirm the amount and was informed the pay off balance was due to daily interest that accrued since my last payment 76 days ago. I offered to pay the principal balance and past due to satisfy my debt. I was informed a payment of less than the total payoff would show as settled on my credit report. Eager to be done with the situation I agreed to the payoff amount, only when I refreshed the screen it showed a payoff balance of {$8200.00}. I didnt question the change because I just wanted to be done with it all. The attempted payment was declined due to using a debit card for an amount that high. I provided a voided check via email and called back to initiate the ACH transaction. The rep assured me I would receive an email confirmation letting me know my balance had been satisfied in full. The email I received did not state I would be satisfying the loan, but that I had set up payment arrangements for my outstanding balance. In addition, the payment was scheduled for XX/XX/XXXX, not the day I called on XX/XX/XXXX. On XX/XX/XXXX I log into my account and I see there are multiple payments scheduled. Two payments on XX/XX/XXXX for {$190.00} and {$8000.00}. On XX/XX/XXXX a payment was scheduled for {$48.00}. This {$48.00} was also the protected payoff amount after the XX/XX/XXXX payments processed. I called immediately and was advised the rep with whom I previously spoke made an error and this person would correct the issue. The customer service rep removed all pending payments from my account, only leaving my principal and past due balance. The next problem came when the pending payments were removed, my payoff amount was now {$8100.00}. Convinced I am being scammed, I request to escalate my case to management. I am told the manager will call me before XXXX. At XXXX I call back and the rep I spoke with had no record on my account of any escalation. She also did not see any record of a pending payment having ever been set up, only the declined debit transaction. I am assured my case is being escalated and that I will hear from a manager by XXXX on XX/XX/XXXX. That evening I submitted a better business bureau complaint and began researching predatory lending practices. The following morning NetCredit  reported to my credit a derogatory 30 day past due balance, after advising consumers XX/XX/XXXX would be the earliest a decision would be made with regards to credit reporting due to CoVid. On XX/XX/XXXX after XXXX I am writing this complaint and have still not received any communication from a NetCredit manager or otherwise other than to notify me of an attempt to process my regular payment of {$190.00}. Additionally, my fianc has an account with NetCredit and called in on XX/XX/XXXX looking to satisfy her account. She was informed her account had not matured enough to receive a payoff amount, although she received her initial loan in XXXX of XXXX. She requested her account be escalated and had not received a call back prior to the XXXX deadline. The following morning on XX/XX/XXXX NetCredit reported derogatory 30 day late payment. She also deferred one payment and was informed XX/XX/XXXX would be the first day a decision would be made about NetCredit 's CoVid policy.