Consumer complaint received 2025-11-14 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Payday loan
Issue: Problem with the payoff process at the end of the loan — 
Company: EGL US, LLC
State: PA

Complaint narrative:
To Whom It May Concern, I am submitting this formal complaint against BMG Money/BMG XXXX XXXX XXXX regarding deceptive, unfair, and predatory lending practices that have subjected me to escalating costs and misleading marketing. I have been repeatedly solicited with special offer refinancing products that substantially increase my loan cost, directly violating consumer protection laws. 

Compelling Evidence of Harmful Practices : - Recorded Phone Call Confirmation : On XX/XX/XXXX, at XXXXXXXX XXXX EST, I spoke with a BMG representative on a recorded phone line and was told explicitly that the APR rate on my loan would " never change from the initial loan taken out. '' However, subsequent refinancing offers from BMG in XXXX and XXXX demonstrate significant APR escalation, contradicting this assurance.

- Deceptive Marketing Tactics : BMG repeatedly sent SMS and email solicitations ( see attached BMG-Text-Message.jpg and BMG-Refinance-Email.pdf ) congratulating me and advertising special offers for refinancing. These communications imply substantial benefits and financial relief, yet the actual terms impose far higher costs and APRs.

- Predatory Refinancing Terms : Recent refinancing offers reveal stark and unjustifiable increases in APR and total repayment : Current Offer ( XX/XX/XXXX ) : Loan Amount Presented : {$4000.00} Origination Fee : {$110.00} Amount Paid to Me : {$2200.00} Bi-weekly Payment : {$80.00} Number of Payments : XXXX ( XXXX  months ) APR : 35.98 % Total Repayment : {$6600.00} Detailed Comparison of Loan Offers and Escalating Burden : Key Points : DATE LOAN AMOUNT AMOUNT PAID TO YOU ORIGINATION FEE XXXX BI-WEEKLY PAYMENTS TOTAL REPAYMENTS NOTES XX/XX/XXXX {$2000.00} {$2000.00} {$49.00} 20.52 % {$65.00} {$2300.00} Paid in full XX/XX/XXXX XX/XX/XXXX {$3000.00} {$2500.00} {$59.00} 28.48 % {$75.00} {$3900.00} On-time payments, refinanced XX/XX/XXXX {$4000.00} {$2200.00} {$110.00} 35.98 % {$80.00} {$6600.00} Special offer refinance XXXX has increased from 20.52 % to 28.48 % to now 35.98 %, a 75 % increase in XXXX years, DESPITE consistent, on-time payments from me as a borrower. 
Origination fees have more than doubled, and the gap between loan amount and cash received has grown, while the total cost to borrow has tripled. 
I am now being asked to repay {$6600.00} for a {$2200.00} advance. This is financially crippling and predatory, especially to those who have acted in good faith and should expect BETTER terms, not worse. 

Why This Is Unfair and Illegal : The APR has increased 75 % over XXXX years, despite all payments being made on time and in full. Origination fees have more than doubled, and the difference between loan amount and net cash received continues to widen. In effect, I am being forced to repay {$6600.00} for a {$2200.00} advance, an exploitative and punitive arrangement. 

Applicable Laws : Truth in Lending Act ( TILA ), Regulation Z ( 15 U.S. Code 1631 et seq. ) : Requires lenders to clearly and conspicuously disclose all loan terms, costs, and APRs. BMGs marketing and disclosures misrepresent and omit the true cost of refinancing, violating TILA and Reg Z [ CFPB Guide ].

Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP ), under Dodd-Frank and the FTC Act : Prohibits practices causing substantial consumer injury, not reasonably avoidable and not outweighed by any benefit. Targeting responsible borrowers with ever-increasing APRs and costs qualifies as unfair and abusive [ FDIC Guide ].

State Usury and Anti-Predatory Lending Laws : Many states explicitly prohibit repeated loan flipping, excessive fees, and APRs above legal caps. BMGs escalation may violate state usury limits and regulatory requirements [ NCLC Report ].

Conclusion & Call for Urgent Regulatory Action : Despite my consistent, on-time payments, BMG continues to exploit borrowers with worsening terms and escalating APRs. The recorded XX/XX/XXXX phone call assurance that my APR would never increase was directly contradicted, demonstrating deceptive practices. I demand that regulators intervene, require BMG to provide restitution, and mandate accurate, transparent disclosures in all future offers. 
All supporting documentation and recorded communications are attached for your review. 

Thank you for your urgent attention to this matter. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation