Consumer complaint received 2024-09-13 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem when making payments — 
Company: Aqua Finance, Inc.
State: TN

Complaint narrative:
SOMEONE, PLEASE READ AND INVESTIGATE THIS COMPANY!!! 

I used a home improvement company that uses Aqua Finance. Had I known, I never would have used that home improvement company. 

My credit limit was overextended ( I purchased doors and after making a few payments, purchased a sliding glass door ). No notification was sent stating I had exceeded my credit limit. Months later, I tried to do a debt consolidation and found out that Aqua Finance put a lien on my home. This was not known to me nor was it reflected in any paperwork that I signed through the home improvement company. I quickly obtained two other jobs to financially catch up and get back on track.

Aqua Finance charges both a regular APR rate ( shown on paper statement ) and a " daily finance charge '' that is only shown when paying online. However, when paying your bill, you are paying both an APR and a daily finance rate. 

To add insult to injury, I've sometimes made two payments in a month to get them quickly paid off and out of my hair. I called them XX/XX/year> when I didn't see the extra payment from XXXX applied on neither the paper statement nor online. I called them and was told information by two different reps. The first rep ( female ) said she will apply the second payment I made in XXXX to XXXX. It will look like I never made a payment and she would need to " send a form to in for me to request that the payment be applied to my account ... '' WAIT... ..WHAT?!?!?!? 

She muted the call and didn't come back on the line so I had to call again. I spoke to a different rep ( male ) who said that yes, he could see that I made two payments in XXXX, XXXX and XXXX but the payments would not be reflected in the dollar amount shown online nor on the statement. They could " only see it on their end ''. He said he would, again, send in a form requesting that the payments be reflected on my account. So in other words, if customers are going by their statements or the online amount shown and they have made double payments on some months, the amount paid will NEVER BE REFLECTED IN THE BALANCE. THE CUSTOMER WILL END UP OVERPAYING!!! I thought of all the double payments I made last year and wondered if my account has truly been paid off or the balance due is much, MUCH lower that what is reflected on the statement. Even if you overpay, I don't trust Aqua Finance to send a refund check. Moreover, why should I have to give permission for you to apply payments that I've made to my account? Should you not just post it correctly to reflect the payment made and the correct balance? 

Please, someone, investigate Aqua Finance. There are so many shady practices and how they are still in business is beyond my comprehension. I know I'm going to have issues with the final payoff and now I'm not sure if my balance is really {$5000.00}. I have a feeling that it is much lower but due to them adding fees and additional charges and not applying payments, how can you ever get away from a company so dirty in tactics?

Company response to consumer: Closed with explanation