Consumer complaint received 2025-06-22 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: Duvera Billing Services, LLC
State: PA

Complaint narrative:
I purchased 4 tires, a wheel alignment, and a Tire pressure sensor at a store called XXXX in XXXX. I didn't have the money to purchase everything I needed so XXXX advised me they had a outside company that does financing called easypay finance. So I agree to use the financing and as I read the agreement on my phone it showed me a breakdown of my financing and indicated that my APR would be 118.99 %. That made no sense to me so I just assumed it was a typo and that the APR was actually 11.899 %. I didn't even realize that they based the APR on 24 months instead of 12 months which I've never seen before. The first page of the financing indicated the amount I borrowed, the APR, the number of days, but didn't go into details until page 3 were they actually showed the breakdown and amounts I would have to pay back if I borrowed the initial {$1500.00}. They do have an option of paying the finance agreement back within 3 months and you won't be charged called the XXXX XXXX XXXX XXXX. But if you are unable to pay the full amount back in 90 days then I would have to pay {$4000.00} over a 24-month period which is {$160.00} per month just for financing a {$1500.00} loan. This means my yearly APR would be 59.495 %. I started researching and found out that every state has laws regarding how much a finance company can charge for an APR and this company well exceeds any law in any state regarding the maximum amount of APR that can be charged. I was at a reputable store and was told that easypay Finance would not run my credit score which didn't really matter to me because I was desperate and needed 4 tires especially since my left front tire had a huge bulge and wires protruding from the tire because the tires were so bare. I'm on a fixed income Social Security and it sounded like easypay Finance was a great way to finance what I needed because I didn't have the money. I really had no other way to drive away from the store unless I purchased the tires because they were Dangerously worn down. My issue is first of all the APR is well outside any legal law in the United States regarding the maximum amount a company can use as well as their predatory practices because they are using their company to pray on people that don't have the money or credit cards to purchase what they need and who are desperate to fix their vehicles. The fact that they indicated their APR was 118.99 % sounds impossible so you assume that must be a typo or they must be using another way of calculating APR and so they are using this with the 24-month period to throw people off so they don't know what they're signing. EasyPay Finance has faced multiple lawsuits and settlements due to allegations of predatory lending practices, including operating a " rent-a-bank '' scheme to evade state interest rate caps and charging exorbitant interest rates. EasyPay Finance has been accused of using a " rent-a-bank '' scheme, where they partner with out-of-state banks to issue loans while circumventing state interest rate laws. This scheme allegedly allowed EasyPay to charge interest rates far exceeding state-mandated limits, sometimes reaching 163 % APR or higher, which is significantly above legal limits. These practices have led to consumers being trapped in cycles of debt with high interest rates, potentially damaging their credit scores and financial security. And unfortunately I don't have money to pay a lawyer and easypay Finance knows this and is just praying on people that are desperately needing the money and have no other option.

Company response to consumer: Closed with explanation