Consumer complaint received 2025-09-10 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
I hired XXXXXXXX XXXX XXXX XXXX XXXXXXXX XXXX ) for a home improvement project, which included roof replacement and additional work on my home. At the time of signing, I was promised financing through Service Finance Company at 9.99 % APR with 12 months no interest. 

That promotion was the deciding factor in moving forward with financing and approving the additional home improvement work beyond the roof. If I had been informed that the promotion would not apply, I would have never moved forward with financing and would have limited the project to a roof replacement only. 

However, this was not the case. The estimate I signed with the contractor, after I signed the loan, reflected 9.99 % APR and stated that 12 months 0 % financing was available, which led me to believe those were the loan terms. Instead, the actual loan was set up as a 14.99 % APR loan for XXXX XXXXonths, and the 12-month no-interest promotion was denied. I was not informed of this change until after the 3-day cancellation window expired, depriving me of my legal right to cancel. 

Later, XXXX XXXX attempted to offer me an under the table deal by promising to pay the first 12 months of interest for me. This clearly shows that he knew the promotion was supposed to apply and that I was misled when it was denied. 

In addition, the Notice of Commencement filed for my property is invalid. The notarization was improper because the contractors wife notarized my signature, which is a direct conflict of interest and violates Florida Statutes 117.107 ( 11 ). Because of this, the XXXX is legally defective and deprived me of protections under Floridas Construction Lien Law. 



Why the Loan Should Be Cancelled This loan should be cancelled ( rescinded ) because it was obtained through fraud and defective paperwork : 1. Material Misrepresentation : I signed an estimate showing 9.99 % APR with 12 months no interest, but the loan was 14.99 % APR for XXXX months with no promotion a bait-and-switch.

2. Loss of Right to Cancel : The true loan terms were hidden until after the 3-day cancellation period expired, depriving me of my statutory right to withdraw.

3. Invalid Legal Paperwork : The Notice of Commencement was improperly notarized by the contractors wife, making it invalid under Florida law.

4. Evidence of Cover-Up : The contractors offer to pay my first 12 months of interest privately confirms he knew the loan terms were misrepresented and attempted to conceal the fraud.

For these reasons, the loan was not made on fair or legal terms and should be rescinded in full.

Laws Violated & How They Apply 1. Florida Deceptive and Unfair Trade Practices Act ( FDUTPA ) F.S. 501.201501.213 Prohibits deceptive business practices.

I was promised 9.99 % APR with 12 months no interest, but was locked into 14.99 % APR with no promotion. 
2. Florida Home Solicitation & Home Improvement Sales Act F.S. 501.021501.142 Applies directly to home improvement contracts.

Requires full written disclosure of terms and grants a 3-day cancellation right.

Because the true financing terms were hidden, I was deprived of this right.

3. Florida Construction Lien Law F.S. Chapter 713 Requires a valid and properly notarized Notice of Commencement.

My NOC is invalid because it was improperly notarized by the contractors wife.

4. Florida Notary Law F.S. 117.107 ( 11 ) A notary may not notarize when they have a direct financial interest. 
The contractors wife notarizing my signature directly violates this statute. 
5. Florida Contractor Licensing Law F.S. Chapter 489 Contractors must operate honestly and comply with the law.

Misrepresenting financing, offering an under the table deal, and filing an invalid NOC are violations of these duties.

6. Federal Truth in Lending Act ( TILA ) 15 U.S.C. 1601 et seq.

Requires lenders to disclose APR, repayment terms, and promotions clearly.

I was promised 9.99 % APR with a 12-month promotion, but instead received 14.99 % APR with no promotion. 



Summary of Misconduct 1. Misrepresented financing as 9.99 % APR with 12 months no interest 2. Denied the promised 12-month promotion, which was my deciding factor in moving forward 3. Locked me into a 14.99 % APR loan for XXXX  months without disclosure 4. Deprived me of the ability to cancel the loan within the legal window 5. Attempted to offer an under the table deal by paying the first 12 months of interest, proving awareness of the original agreement 6. Filed an invalid Notice of Commencement 7. Notice of Commencement was notarized by contractors wife, violating Florida Notary Law 8. Failed to provide accurate loan documents in a timely manner 9. Failed to follow Florida home improvement and construction law requirements 10. Engaged in misleading and deceptive business practices 11. Caused financial harm through undisclosed, higher-interest financing The following documents are attached in support of my complaint : Signed estimate showing 9.99 % APR and 12 months 0 % financing still advertised after the loan was signed on XX/XX/year> Text messages with XXXX showing I would have never signed the loan had the true terms been disclosed Signed Notice of Commencement, which was improperly notarized by XXXX XXXX wife Service Finance Companys first complaint response Email confirming my payment was made under protest Service Finance Companys final response, stating I should contact XXXX to accept his offer, with no other resolution provided Call transcript between XXXX and the dealer line, confirming the financing issues Copy of my first CFPB complaint that received no resolution

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation