Consumer complaint received 2022-04-05 00:00:00
Product: Debt collection — Other debt
Issue: Took or threatened to take negative or legal action — Threatened or suggested your credit would be damaged
Company: Aqua Finance, Inc.
State: OH

Complaint narrative:
We were scammed by a contracting company in XX/XX/XXXX for services not received and unsafe/poor workmanship ( XXXX XXXX ). They financed through their lending partner, Aqua Finance. We were never provided a contract stating terms, APR, loan term. We signed nothing with them. They claim the contractors contract with us was also a binding loan contract with them yet nothing is mentioned in that contract regarding a loan or terms of any sort and this was not stated to us by XXXX XXXX  which we would not have accepted. Also, only I signed the contractors contract, not my husband. Aqua Finance also placed a lien on our home which we found out on our own and the only reason we continue making payments. We purchased this home XX/XX/XXXX. We were conned by XXXX XXXX for the incomplete work and our loan was for {$34000.00}. We have made 25 payments to Aqua Finance, and to date, our bill is still {$34000.00}. Monthly payments are {$380.00}. Out of over {$9600.00} we've paid Aqua Finance, only {$270.00} has been applied to our loan. We've learned this is a 9 year loan@ XXXX XXXX daily compounded interest which was told to us verbally by Aqua Finance... again, nothing in writing. 
In XXXX of this year, my husband and I both contracted XXXX placing me in the hospital with a XXXX XXXX and him out of work for 4 months with no income other than social security. We paid for the month of XXXX and XXXX and explained to Aqua Finance we are working to catch up on ALL bills once my husband returns to work on XX/XX/XXXX. I've explained this twice to Aqua Finance and they rudely stated they have no record of my calls and now want proof of hardship and have threatened to foreclose on our home. I've tried reaching XXXX XXXX, the account manager, since mid XXXX and shes yet to return my calls or respond to emails. I want to make a settlement agreement as I believe we have paid well beyond the incompetent project supplied by XXXX XXXX ( the contractor ) and that XXXX XXXX should return the remaining amount of this loan to Aqua Finance. I also do not believe this to be a binding contract as we've signed nothing with loan terms and nothing with Aqua Finance. The contract with XXXX XXXX  is also invalid as we both did not sign nor did they live up to their contractual agreement. We would also like to know where all of the 25 payments @ {$380.00} have gone since only {$270.00} has been applied to this loan. We are seeking your assistance in removing the remaining balance of this loan to Aqua Finance as we do not see how this can be a valid loan, and also, they are reaping our payments unlawfully, threatening to take our home, harassing us during a time of hardship and illnesses, and just plain scamming us for money we should not owe them. Over {$9000.00} unaccounted for to them. They should be in jail and put out of business. Thank you so much for your time and efforts in assisting us to resolve this nightmare.

Company response to consumer: Closed with explanation