Consumer complaint received 2025-04-02 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Payday loan
Issue: Loan payment wasn't credited to your account — 
Company: FIRSTBANK PUERTO RICO
State: PR

Complaint narrative:
To Whom It May Concern, I am writing to express my deep concern and frustration regarding my ongoing efforts to resolve a dispute related to Complaint No. XXXX. Despite multiple attempts to contact your institution, I have not received any meaningful response. I hope this communication will prompt a thorough and transparent review of my case. 

This complaint specifically refers to a series of 90 loan payments I have made to date, which I will be attaching for your reference. I understand and acknowledge that I requested a loan moratorium during periods of financial hardship. However, I have recently been informed that additional charges were added to my loan balance without proper disclosure. These appear to be hidden fees, which were not communicated in any clear or written form at the time they were imposed. 

I believe this constitutes multiple violations of federal financial regulations, including : Regulatory Violations Cited Truth in Lending Act ( TILA ) Regulation Z You failed to properly disclose changes to my loan structure and the addition of fees related to the moratorium. This is a direct violation of disclosure requirements under TILA. 
Fair Debt Collection Practices Act ( FDCPA ) I was never notified that the final payment on the loan would be a lump sum or balloon payment. No clear statement, notice, or updated payment schedule was provided. 
Furthermore, I was threatened with negative credit reporting unless I made this lump sum payment immediately. This is coercive and against fair collection practices. 
Consumer Financial Protection Act ( CFPA ) Dodd-Frank Act Your actions may fall under Unfair, Deceptive, or Abusive Acts or Practices ( UDAAPs ) due to lack of transparency and misleading communication. 
As you stated in your own response to Complaint No. XXXX, the moratorium granted after Hurricane Mara was treated as a loan modification. However, Exhibit 1 attached to that same response clearly refers to it as a loan moratorium, not a modification. This contradiction is both misleading and confusing. 
Lack of Proper Notification At no point did I receive formal communication stating that the paused payments would be billed as a lump sum at the end of the loan, nor was I given an updated amortization schedule showing the true final balance. The documentation you provided with the previous response only displays the amortization you creatednot a legally compliant disclosure outlining final terms or repayment conditions. 

Request for Immediate Action Given the seriousness of these issues, I am formally requesting the following : A full and clear breakdown of how my final payoff amount was calculated, including any fees or interest charged due to the moratorium. 
An explanation of why I was never provided notice of these changes. 
A copy of any documentation or notices you claim were sent to me informing me of a final lump sum or modified terms. 
A reconsideration of my initial reimbursement request in light of the apparent regulatory violations. 
As a customer, I feel completely dismissed by your customer service team, who continue to brush me off without providing answers or connecting me with someone who can assist. 

Sincerely

Company response to consumer: Closed with explanation