Consumer complaint received 2024-10-27 00:00:00
Product: Debt collection — I do not know
Issue: False statements or representation — Attempted to collect wrong amount
Company: World Acceptance Corporation
State: GA

Complaint narrative:
**NOTICE OF RESOLUTION** Dear [ WORLD FINANCE/WORLD ACCEPTANCE ) ], Subject : Notice of Resolution Regarding Disputed Balance, Contractual Issues, and Demand for Compensation I am writing to formally address and resolve the ongoing issues regarding the disputed balance on my account, which currently reflects an inflated total due to unverified charges. 

1. **Lack of Contractual Agreement with Wet Signature** : It has come to my attention that there is an absence of a legally binding contract, confirmed with my wet signature, to support any agreement to the charges currently applied to my balance. This oversight negates any implied consent to the outstanding balance.

2. **Disputed Charges** : The current balance shows a series of charge accumulations totaling {$290.00}, significantly deviating from the agreed monthly balance cap of {$240.00}. This ongoing discrepancy suggests the possibility of erroneous or fraudulent additions to my bill. 

3. **Reinstatement of Demand for Compensation** : In light of these violationsincluding potential breaches of the Fair Credit Reporting Practices Act ( FCRA ) and the Fair Debt Collection Practices Act ( FDCPA ) I hereby demand compensation for the damages incurred as a result of these unfair and deceptive practices. Furthermore, I hold World Acceptance Corporation accountable as an accessory to this fraud, due to their involvement in these unethical billing practices ; as you indicated your parent companys collusion in your response.

4. **Resolution Request** : I request an immediate review and adjustment of the billing records to accurately reflect the agreed terms and dismiss any unverified or inflated charges. Additionally, I expect a response regarding the compensation for the violations mentioned above. Please provide confirmation of the corrective actions taken, along with a revised balance statement and information on the compensation process, within [ reasonable timeframe, e.g., 10 business days ] from the date of this notice.

I trust that you will address this matter urgently to prevent further complications. 

Thank you for your prompt attention to this issue. 

Sincerely, [ XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX - Here formal letter from the consumer, XXXX XXXX XXXX denying the allegations regarding the transactions : -- XXXX XXXX XXXX [ Your Address ] [ City, State, Zip Code ] [ Email Address ] [ Phone Number ] XX/XX/XXXX **Consumer Financial Protection Bureau** [ CFPB Address or relevant department ] [ City, State, Zip Code ] **Re : Response to Allegations by World Finance Company of South Carolina, LLC** **CFPB ID : XXXX Dear Sir or Madam : I am writing to formally respond to the allegations made by World Finance Company of South Carolina, LLC ( World ) regarding my account referenced above . 

In their statement, World asserts that I owe a debt related to a closed-end installment loan taken out on XX/XX/XXXX. They claim that I was given an installment loan for {$200.00} with a total repayment amount of {$240.00}, to be repaid in four monthly installments. However, I would like to deny these allegations on the following grounds : 1. **Accuracy of Reporting** : The charge-off reported on my credit report does not accurately reflect my payment history and efforts to resolve any discrepancies regarding the loan. I maintained communication with World regarding this account and was under the impression that a resolution was forthcoming. 

2. **Loan Agreement Clarity** : I contest the terms of the loan as stated by World. There is confusion surrounding the repayment process, including an understanding regarding my payment obligations and communication from World regarding my payments. 

3. **Lack of Proper Notice** : There appear to be discrepancies in the notifications I received regarding missed payments. It is my belief that I did not receive adequate notice before the account was charged off. 

Due to these concerns, I believe that the reporting of this account and subsequent charge-off is in violation of the Fair Credit Reporting Act ( FCRA ). I am therefore requesting the removal of the charge-off from my credit report and am seeking compensation for the adverse effects this has had on my financial status. 

I appreciate your attention to this matter and request that you consider my position seriously. I am ready to provide any additional information or documentation necessary to support my claims. 

Thank you for your assistance. 

Sincerely, XXXX XXXX -- - Here formal letter from the consumer, XXXX XXXX, denying the allegations regarding the transactions : -- - XXXX XXXX XXXX XXXX XXXXXX/XX/XXXX XXXXConsumer Financial Protection BureauXXXX **Re : Response to Allegations by World Finance Company of South Carolina , LLC** **CFPB ID XXXX XXXX Dear Sir or Madam : I am writing to formally respond to the allegations made by World Finance Company of South Carolina, LLC ( World ) regarding my account referenced above.

In their statement, World asserts that I owe a debt related to a closed-end installment loan taken out on XX/XX/XXXX. They claim that I was given an installment loan for {$200.00} with a total repayment amount of {$240.00}, to be repaid in four monthly installments. However, I would like to deny these allegations on the following grounds : 1. **Accuracy of Reporting** : The charge-off reported on my credit report does not accurately reflect my payment history and efforts to resolve any discrepancies regarding the loan. I maintained communication with World regarding this account and was under the impression that a resolution was forthcoming.

2. **Loan Agreement Clarity** : I contest the terms of the loan as stated by World. There is confusion surrounding the repayment process, including an understanding regarding my payment obligations and communication from World regarding my payments. 

3. **Lack of Proper Notice** : There appear to be discrepancies in the notifications I received regarding missed payments. It is my belief that I did not receive adequate notice before the account was charged off. 

Due to these concerns, I believe that the reporting of this account and subsequent charge-off is in violation of the Fair Credit Reporting Act ( FCRA ). I am therefore requesting the removal of the charge-off from my credit report and am seeking compensation for the adverse effects this has had on my financial status. 

I appreciate your attention to this matter and request that you consider my position seriously. I am ready to provide any additional information or documentation necessary to support my claims. 

Thank you for your assistance. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation