Consumer complaint received 2021-05-13 00:00:00
Product: Payday loan, title loan, or personal loan — Payday loan
Issue: Problem with the payoff process at the end of the loan — 
Company: WLCC
State: CT

Complaint narrative:
XXXX  XXXX XXXX sets up their loans so that you are repaying 30 % of the outstanding payday loan on every payday but that is only the finance charge, none of that 30 % repayment goes toward the principal loan amount. This is an endless cycle of thinking you are repaying your payday loan when in reality your loan is still outstanding and they deduct money from your bank account automatically every 14 days. As a new customer they only allow you a max amount of {$600.00} which I did not even take out. After a year of paying this I was contacted via email that I still had an outstanding balance and they wanted to offer me a settlement. This email was sent on Friday, XX/XX/XXXX at XXXX XXXX  the settlement amount was for {$670.00} which was more than the original amount I borrowed, On the same day at XXXX XXXX  I replied stating that this settlement offer was way more than the original amount of the payday loan  I borrowed and that it did not reflect the principal amount that I already paid off which was more than half of the payday loan. I declined this offer due to that reason. After this I spoke to someone on the phone and ended up settling the account and paying it off. Well that's what I thought at least. Two years later on XX/XX/XXXX I receive another email stating that they were going to escalate in order to rectify and that I incurred additional costs, fees, etc and they would like to offer me a settlement on that. However, there was NEVER a settlement amount offered, and there were NO details regarding my account the past due amount I supposedly still owed, all of the fees I incurred, etc. This is the email I received " At this time your delinquent account with XXXX XXXX XXXX must be escalated in order to rectify the owing balance. If you wish to prevent this and choose a payment option available which can include assistance from a possible tax return please contact us prior to the deadline of XX/XX/XXXX. As of XX/XX/XXXX we will begin to move forward. 

As it currently stands your account has accrued several additional finance charges. We are willing to work with you on this in an effort to prevent escalation. We are offering you settlement on the accounts via a payment plan for the principle balance owing only. This will mean you will recover the cost of all of the past due fees you have accumulated. Furthermore, we are willing to do this in an affordable payment plan, tailored to your needs. You can still avoid escalation and clear your balance, but this offer is only available until XX/XX/XXXX. 

Contact us today to take advantage of this. The balance on your account is increasing every pay period. 

Ask yourself ; wouldnt it be great to get rid of it for an affordable amount before it is escalated externally at a much higher balance? 

Call Call XXXX XXXX ext. XXXX to speak with Ms. XXXX before XX/XX/XXXX to take advantage of this! 
XXXX XXXX XXXX - Payment Service '' When I responded asking for account information to be emailed so I had it documented they said that they did not provide account information via email and I never heard from them again until now. 

It is now XXXX, four years later and I received a voicemail from a third party collector with a case file # threatening to show up to my old address that I no longer live at to be served papers if I did not call them back or to my place of employment. My mother, father, sister and brother also received the same voice message on each of their cell phones regarding this. I haven't received any information regarding this outstanding " account '' except emails stating that I still owed money. They never once notified me of the debt amount that is due. Even when I called back the # the collector left on my voicemail they did not have any information regarding this account except that it was past due and I owed them money. Only time I was notified of the $ amount due was back in XXXX and I resolved this issue a few months later.

Company response to consumer: Closed with explanation