Consumer complaint received 2017-03-14
Product: Consumer Loan — Installment loan
Issue: Problems when you are unable to pay — 
Company: World Acceptance Corporation (TN)

In XXXX XXXX we took out a SECURED loan w/World Finance ( WF ) in the amount {$5000.00} ; and, also took out insurance, should I become unemployed due to no fault of my own, the installments would be made on my behalf. 

XXXX XXXX, XXXX, I made a payment in the amount of {$200.00} ; and, on or around the XXXX of XXXX XXXX, I was laid off. I submitted the appropriate documents WF requested where I was approved for unemployment from the State of Tennessee and documents from the employer that laid me off to the WF office where the loan originated. 

I received a phone call from the Manager a few weeks later she did not know how to submit the claim to the insurance company and instead offered to refund the monies I had paid for the insurance policy. I told her that I paid for this policy and I needed it to pay off and suggested she call a supervisor or someone that could assist her. I found out that she instead called another finance company, we had a loan with, in the same town, to find out how they submitted the claim on us. 

I continued to submit my employment searches believing the Manager was taking care of the insurance and never once was I told any different. 

Fast forward to XXXX XXXX. I checked my credit and discovered in XXXX XXXX, WF had " charged off '' this secured loan as a bad debt. I called twice and left a message with XXXX of the employees for the Manager to return my call. The call was never returned. I never received a phone call, letter, nor any type of communication trying to collect on this secured loan. 

Then on or around XXXX XXXX, XXXX, I received a letter from a collection agency where WF had turned the account over to them with an amount due of {$2900.00}. I called the collection agency and told them the above-scenario and was advised to visit the WF office personally and take the letter we had received and explain it should have never been turned over for collection. 

My husband and I went to WF on XXXX XXXX, XXXX @ XXXX and talked with the Manager. She " said '' the last attempt they made to contact me was in XXXX XXXX ( I NEVER received a call from them ). I told her I had left messages for her to call me and she said she never got the message. She had copies of a letter ( s ) from the insurance company stating they were not paying off as they never received documents they were needing. I asked her where all the documents were I had dropped off, i.e. job searches, etc. She did not have them in the file and said she had never received them. 

My husband asked her since we were getting no where what could be done and she said it was out of her hands and she would need to contact her Area Supervisor. My husband told her to get him on the phone, we would wait. She left the area and tried to get in touch with him. She came back and said she could not contact him. She gave us his name and phone number. I have tried unsuccessfully to contact this gentleman 3+ times and left messages and he has not returned my call. 

I have contacted the collection agency and kept them informed and they have placed the account in a " hold '' status for 30-days.