Consumer complaint received 2025-11-21 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Paramount GR Holdings, LLC
State: VA

Complaint narrative:
I am filing a complaint about GoodLeap ( formerly Loanpal ) in connection with a residential solar loan and their refusal to provide a basic, itemized accounting of my loan proceeds. 

In XX/XX/XXXX, I was approached at my home by XXXX XXXX XXXX sales representative for a door-to-door solar sale. On XX/XX/XXXX, I signed a solar financing agreement with Loanpal ( now GoodLeap ) for a XXXX XXXX system with XXXX XXXX Q Cells panels and a XXXX XXXX XXXX. The total amount financed was {$47000.00} at 2.99 % interest over XXXX  years. 

The sales representative presented XXXX XXXX XXXX company that would finance the deal and did not offer any other lenders, loan options, or cash pricing comparisons. My initial monthly loan payment was {$170.00}, with a later payment of {$230.00} unless I made a 26 % prepayment that was described as being tied to a tax credit or rebate. I was led to believe I would receive a large rebate aligned with the tax credit that I could apply to the loan so my payments would stay low. I was also told my utility bill would be eliminated or reduced to a small amount because the system would pay for itself. 

None of this has happened. Before solar, my electric bills were about {$100.00} in winter and {$110.00} in summer. After solar, I still had utility bills around {$120.00}, plus the solar loan payment of {$170.00} for about XXXX  months and then {$230.00} per month. My total monthly costs went up instead of down. No reasonable consumer would knowingly sign a XXXX loan that raises their total monthly expenses. 

The XXXX XXXX XXXX estimated about XXXX kWh of yearly production, but the system has not performed as promised. I experienced inconsistent production and months where my system did not work at all. XXXX XXXX XXXX went out of business in XXXX, well before the end of my five-year workmanship warranty, leaving me without warranty support or a responsible installer to fix the problems. My monitoring was never properly set up or supported, and I kept asking for help but did not receive effective service. 

I later learned that the financed amount of {$47000.00} for a XXXX kW system with XXXX battery is extremely high and likely includes a large hidden dealer or financing fee. No one ever gave me a breakdown of how the contract price was calculated, how much was actually paid to the installer, or how much was kept as dealer or origination fees. The finance paperwork just shows the full contract amount with no clear itemization. I also discovered there is a XXXX lien on my equipment that was never clearly explained during the sale. 

Because of these issues, I sent GoodLeap a written demand letter explaining the misrepresentations, the systems underperformance, the lack of warranty support after the installer went out of business, and the excessive/hidden financing costs. I specifically asked GoodLeap to : Pause all billing, collection, and credit reporting activity while the dispute is pending ; and Provide a full, itemized accounting of my loan proceeds, including : Amounts actually paid to the installer or affiliates ; and Any dealer, broker, or origination fees or other amounts withheld or retained.

GoodLeaps recent response states that they have paused billing and collection activity, but they refuse to stop credit reporting and they refuse to provide the itemized accounting of my loan proceeds. In writing, GoodLeap told me they are not inclined to provide this information.

In other words, while acknowledging my dispute and pausing billing/collections, GoodLeap is : Continuing to report my loan to the credit bureaus during an active dispute ; and Refusing to give me basic, core information that is entirely in their control about how my loan funds were used and how much was taken as dealer or origination fees.

I believe this is unfair and deceptive. GoodLeap is the lender/loan holder and has full access to how my loan proceeds were disbursed. By refusing to provide an itemized accounting, they are preventing me from understanding the true cost of the loan, whether I was charged hidden or excessive finance charges, and whether the transaction complies with the Truth in Lending Act and other consumer-protection laws. It also keeps me from fully evaluating my options to resolve the dispute. 

On top of that, XXXX XXXX XXXX is out of business, leaving me with an underperforming or non-operational system and no installer warranty support. Yet GoodLeap continues to benefit from the inflated loan while refusing to be transparent about where the money went or how much they and their partners received.

I am an ordinary homeowner who relied on the representations of the solar company and GoodLeap. Instead of savings, I ended up with higher monthly costs, an unreliable system, a defunct installer, and a lender that will not even tell me how my loan money was used.

Company response to consumer: Closed with explanation