Consumer complaint received 2026-06-01 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem when making payments — 
Company: Paramount GR Holdings, LLC
State: NJ

Complaint narrative:
Hello, Im writing to describe my dealing with GoodLeap a loan servicer that I financed through to have my Furnace/HVAC system replaced. I wanted to pay off the installment loan as quickly as possible with the high interest rate on the agreed upon loan terms. I wanted to leverage my personal credit cards to maneuver the loan into more favorable terms for me to pay back the loan. The below describes the steps I took to have XXXX institute a balance transfer for {$4800.00} that would have paid about 98-99 % of the value of the loan which I intended to make one final payment to payoff the loan in full. This plan did not come to fruition instead GoodLeap engaged in unfair and deceptive billing practices, operational negligence in payment processing, and an explicit refusal to correct financial harm caused entirely by their own internal error. GoodLeap received a {$4800.00} electronic payment on my behalf, erroneously applied it to a closed loan account of mine with a {$0.00} balance, and is now forcing me to pay accrued interest on my active loan while refusing to reverse the mistake. Timeline of events : XXXXXX/XX/XXXX : I initiated a {$4800.00} balance transfer via XXXX to be paid directly to GoodLeap. XXXX XX/XX/XXXX : GoodLeap claimed they had no record of the payment, noting a 715 business day processing window for check receipts. I opened a dispute with XXXX to inform them that GoodLeap did not receive the {$4800.00} payment. XX/XX/XXXX : After I facilitated communication between both parties, XXXX confirmed the payment was successfully delivered to GoodLeap via ACH ( electronic transfer ) and provided full tracking details. GoodLeap continued to deny receipt. GoodLeap continued to lean on a 715 business day processing window for check receipts XX/XX/XXXX : I opened a formal " Missing Payment Inquiry '' with GoodLeap regarding the missing payment. I was promised a callback within 57 business days, which I never received. XX/XX/XXXX : I abruptly received a refund check in the mail from GoodLeap for {$4800.00} ( issued on XX/XX/XXXX ). Upon calling GoodLeap on XX/XX/XXXX to verify the ACH payment, a representative confirmed that GoodLeap had located the original {$4800.00} payment. However, due to an internal lack of direction, GoodLeap erroneously applied the {$4800.00} to a closed, {$0.00} balance loan ( ending in XXXX XXXXXXXX ) instead of my open, active loan ( ending in XXXX XXXXXXXX ). When asked why, the representative stated it was " because they didn't know how to apply the payment. '' I also questioned why I was never alerted about the {$4800.00} payment or credit balance against a closed loan when I had been calling about the missing payment multiple times and never got an answer on that. I requested that GoodLeap stop payment on the refund check and immediately credit my active loan as of the original XX/XX/XXXX receipt date. The representative as well as managers flatly refused, stating they can not stop payment on an issued check. Furthermore, because GoodLeap held and misapplied my funds for two months, my active loan accrued unnecessary interest. When I requested an interest adjustment due to their operational error, the representative explicitly stated, the interest will remain and they won't adjust it, as well as because we issued you a refund check, there is nothing we can do and added that even if I let the check void, they would simply reissue it and hold me liable for all interest. Thus far I am still in possession of the refund check which I am planning to hold until this matter is filed with GoodLeap. I dont want to lose my leverage in this matter with GoodLeap by giving them a path to claim they actually dont have the {$4800.00}. Once I have assurances that they will waive/adjust/remove the erroneous interest charges I will deposit the refund check and make the payment for the remining balance of the loan. I will continue to make payments on the account to keep my credit in good standing.

Company response to consumer: Closed with explanation