Consumer complaint received 2024-05-24 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem when making payments — 
Company: FREEDOM FINANCIAL NETWORK
State: SC

Complaint narrative:
I took out a {$40000.00} personal installment loan through Achieve in XXXX of XXXX. 

The scheduled monthly amount due is {$1300.00}. 

In late XXXX XX/XX/XXXX, I called to let Achieve know that I would be a little late making a payment. At this time, an agent advised that I could set up automatic biweekly payments to keep me current. 

I agreed to the automatic payments and set the amount to {$700.00} every two weeks. This means I should be paying at least {$95.00} more than my required monthly payment each month. The payments were set up to coincide with my biweekly paychecks. 

This worked fine for several months, however in early XXXX, Achieve started taking one of my payments and calling it an additional payment, apparently applying it to mostly principal and not allowing it to go towards my scheduled bills. 

All of a sudden, my account shows as past due and I am receiving collection calls, despite having made more than the required monthly minimum. 

For example, I made a payment of {$700.00} on XX/XX/XXXX and another payment of {$700.00} on XX/XX/XXXX which should have covered the {$1300.00} due on XX/XX/XXXX. However, my account showed as past due and I received multiple calls from Achieve stating that I was past due. In one of these phone calls, I advised Achieve that I had made more than the required monthly payment. I was told that Achieve had taken one of these payments as an additional payment and not applied it towards my bill. They told me that payments taken before the current months bill generated were treated as additional payments. I advised that I had been set up on this biweekly schedule to avoid ever falling behind by one of their agents and they needed to apply my payments to my bill. 

I had a similar conversation related to the amount due in XXXX. 

During the XXXX call I advised that I would be filing a complaint with the CFPB should Achieve continue to incorrectly apply my payments. I pay more than the minimum amount due every month and should never show as past due, nor should I receive collection calls. 

In XXXX, I am showing as XXXX  days past due, despite having made a payment of {$700.00} on XX/XX/XXXX & {$700.00} on XX/XX/XXXX. I advised the agent yesterday that they needed to correct my account, I was not past due, and that I would be filing a complaint with the CFPB due to the harassing phone calls and incorrect servicing of my account. 

In addition to being shown as past due, despite making payments in excess of my monthly minimum, the collection call practices by Achieve are inappropriate and border on harassment. I have received calls in which I answer, and no one responds. Or I answer and then am hung up on. On XX/XX/XXXX, I received a call in which the person said this is a courtesy call. Goodbye. They attempted to hang up and I said wait, a courtesy call for what? Why are you calling me? Only then did the person state they were from Achieve. I requested that I be transferred to a supervisor. The person then proceeded to try and discuss my account with me despite my request to be transferred to a supervisor. It took MULTIPLE refusals before they said they would transfer me. 

I should not be receiving calls in the first place given that I make more than my minimum monthly payment every month. It is outside of my control when Achieve decides to generate bills. I make payments as scheduled and set up by their agent to ensure I am always paid ahead. 

They stated they will only move one payment on my loan. I do not understand how a company can refuse to service a loan or apply payments that are made to outstanding bills. If I have a bill due on XX/XX/XXXX which is paid, then make two payments of {$700.00} before my next bill of {$1300.00} is due on XX/XX/XXXX - I have paid the bill. 

Achieve has called me stating that I have great repayment history and wanting me to refinance my loan. I am absolutely frustrated and at my wits end with the way they service my loan and can not wait to have this paid off. 

True additional payments are made outside of my scheduled automatic biweekly payments. Again, these biweekly payments were advised and set up by an Achieve agent. 

In my opinion, the way they are servicing my loan is unfair and deceptive.

Company response to consumer: Closed with explanation