Consumer complaint received 2024-04-25 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Other advances of future income
Issue: Confusing or missing disclosures — 
Company: Revenued LLC
State: TX

Complaint narrative:
I signed for a Revenued credit limit of $ XXXX which is an open ended ( revolving ) credit limit which was explained to me as an advance against future receivables remitted with a daily payment. The sales person also told me that the faster I pay off each purchase made with the " credit card '' the less I would pay back. At the time of getting the credit line my company was making $ XXXX per month. Toward the end of XXXX, my company was making more like $ XXXX $ XXXX per month. I was told that the company monitors my banking and would adjust the payments as the income fluctuates so that I'm never paying out more than we were receiving in. It wasn't until the payments of $ XXXX per day that I was offered an opportunity to lower my daily payment AND told how to actually go online and apply for the lower payment. Somehow even while paying over {$1200.00} per week, the balance seemed to be decreasing ever so slowly. I have requested on multiple occasions the accounting so that I can see how my payments are being applied since I have also made some lump sum payments in addition to the daily payment. I got the run arounds at least 4 times without getting any proper accounting. Finally I was sent a statement ONLY SHOWING HOW 1 of my payments was being applied to the balance and that statement showed that instead of my payments going toward the oldest transaction first to pay of the debts in full in the order they were made ( in order to pay less in costs ) the payment was being divided up paying only XXXX cent toward XXXX of the purchases made and dividing a payment of {$64.00} to 10 -12 transactions instead of paying toward the oldest one first. this is causing me to pay more per debit than it would be if the payment were rightfully applied toward the oldest debts first. In addition, when I declined authorizations of debits of my account, there were still multiple payments taken while threatening to put my account in an automatic default even though i mentioned I simply wanted to get an accurate accounting record so that I know how much I am supposed to be paying back as the numbers provided by what Sergesta ( the agent ) was sending me was not adding up. In addition once they sent my account to default ( collections ) while negotiating the new payment ( never declining negotiations on my part ) my clients started receiving XXXX letters requesting that they withhold payment from me WITH A LARGER AMOUNT THAN WHAT WAS OWED ON THE ACCOUNT. Once finally reaching an agreement with XXXX XXXX, and being told that the additional fees like collections fee and bounced fees would be waived upon reaching an agreement and re-instating the account, I agreed to sign for the withdrawls to be made from my account as I was told I was unable to send an ACH to them ( even though i was initially told that we could opt to do that ... in writing ). I was also told that the release letter would be sent to my clients to stop withholding funds as we concluded that I can't pay their bill if i can't operate and receive income. Once I signed the agreement to withdraw and requested the fees be waived as we agreed, the terms changed again and I was told that the fees would not be waived unless i made a settlement amount for an amount that was greater than the settlement amount offered directly by the company. In addition to that changing, I was then told that they would not be sending letters of release until the initial draft payment had been received which will not be for another 2 days. This company has legalese disclosures that are predatory and force unknowing small businesses to waive all rights in filing judgements against them and sign XXXX. This agreement was signed under duress and undue influence. In addition to the fact that the company has securitized the contract and I have an audit of the account pending.

Company response to consumer: Closed with explanation