Consumer complaint received 2025-12-23 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Payday loan
Issue: Struggling to pay your loan — 
Company: Possible Financial Inc
State: CA

Complaint narrative:
I am writing to resubmit my complaint against Possible Finance regarding their predatory practices related to payday loans. My original complaint, it was closed as feedback, and I believe it was not adequately addressed. 

Key Points for Resubmission : XXXX. Incomplete Investigation : The response from Possible Finance did not fully address my concerns, and the issues remain unresolved. 
XXXX. Misclassification of Complaint : My complaint was closed as feedback, but it should have been treated as a formal complaint given the nature of the predatory practices. 
XXXX. Ongoing Financial Harm : The practices of Possible Finance have caused ongoing financial harm, and further review is necessary to protect my rights. 
XXXX. Lack of Proper Response : I was not given the opportunity to respond to the companys statements before the complaint was closed. 

Thank you for your attention to this matter. I hope that this resubmission will ensure a thorough review of my concerns. 

See below for my initial clam, their response and my feedback : CLAIM : When I was younger, I used a cash advance app without fully understanding the terms, fees, or consequences. I took out multiple advances that I could not afford to repay, which led to mounting fees and financial hardship. At the time, I had little financial knowledge and was not aware of the long-term impact of using these services. I believe I was taken advantage of because the app targeted young users like me who lacked experience with credit and financial management. I am seeking assistance to address the debt, fees, and any unfair practices associated with my use of this service. 

Response from Possible Finance : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX Email : XXXX Response to Customer Complaint : Dear XXXX XXXX : In your complaint, you requested that XXXX XXXX XXXX ( XXXX  XXXX  or XXXX  ) Forgive a debt you received from the Company. You received XXXX loans with the XXXX and paid XXXX in full. The loan you received on XX/XX/year> is likely the subject of your complaint. The following is the history of the loan and verification of the accuracy of the Companys reporting. Your loan documents are available to you in app or by contacting XXXX. On XX/XX/year>, you electronically signed a loan agreement pursuant to the XXXX XXXX in XXXX XXXX XXXX XXXXXXXX XXXX ( XXXX XXXX ) and consequently, received the funds as you borrowed {$220.00} ( amount financed ). On your loan agreement, you owed XXXX payments of {$64.00} on XX/XX/year>, XX/XX/year>, and XX/XX/year> and a fourth payment of {$64.00} on XX/XX/year>. You made successful payments on XX/XX/year> and XX/XX/year>. Thus, your loan is still outstanding, and you owe {$120.00}. The XXXX has reviewed the reporting it has furnished to the credit reporting agencies and determined that its reporting is accurate and will not be removed. Please note that the original due dates for your loan were previously updated to XX/XX/year>, XX/XX/year>, XX/XX/year>, and XX/XX/year>. You requested reasonable accommodation from the XXXX for your loan. The XXXX provides customers with loan payment plan options to help alleviate stress related to completing repayment. However the Company was unable to find a record of you contacting XXXX requesting an accommodation. Please note that neither the XXXX nor its collection partners offer a pay-to-delete option or a goodwill adjustment option as the XXXX is required to make its reporting to the XXXX  in both an accurate and fair manner for all of its borrowers. You believe you were taken advantage of, however, you initiated each loan application, accepted loans and signed loan agreements. The XXXX offers a XXXX  day grace period on each payment and does not charge late fees. The XXXX did not provide misleading information. The company is in receipt of your direct communications requesting a status on your CFPB response. If you would like to pay off your loan or discuss repayment options, please contact us directly at XXXX. Thank you My feedback : The companys response to my complaint mischaracterizes my concerns as a request for simple debt forgiveness and focuses almost entirely on payment history and contract execution. My original complaint did not ask merely for forgiveness of a balance ; it raised significant issues regarding the design, marketing, structure, and disclosure practices of repeated shortterm cash XXXX XXXX as they relate to young or financially inexperienced borrowers. Specifically, my complaint addresses whether the companys practices misled or failed to adequately inform consumers about material terms and the longterm consequences of repeated shortterm borrowing, whether the products design encouraged a cycle of borrowing ( i.e., debt cycling ), and whether disclosures were presented in a clear, understandable, and nonmisleading manner. These issues are exactly the types of unfair, deceptive, or abusive acts or practices prohibited under the XXXX XXXX XXXX XXXX ( XXXX ). The companys response does not address : XXXX. User Vulnerability and XXXX Practices The structure and marketing of the product may have taken unreasonable advantage of my lack of understanding of the material risks, costs, and conditions of the product, inconsistent with CFPA protections against abusive conduct. XXXX. Debt Cycling While the company emphasizes that previous loans were paid in full, it fails to acknowledge that those repayments were only possible because I repeatedly took out new shortterm loans to cover prior balances. This pattern resulted in a cycle of borrowing that increased my overall financial harm and demonstrates the harmful structure of these products. XXXX. Disclosure and Informed Consent The automated statements that you electronically signed the agreement do not address whether disclosures were clear, conspicuous, and sufficiently understandable at the time of acceptance, nor whether the design of the interface impeded informed consent or obscured material terms. XXXX. Remedy Consideration The company did not engage with whether forgiveness of the remaining balance or some form of balance adjustment is an appropriate corrective action under CFPB standards for unfair, deceptive, or abusive acts or practices, instead treating my request as a simple repayment dispute. To clarify, I am seeking forgiveness of the remaining balance as a remedy for the cumulative financial harm caused by repeated shortterm loans, not a denial that funds were received. I have repaid multiple loans in full and paid hundreds of dollars to the company. However, continued collection and credit reporting of the remaining balance is unfair and disproportionate given the structure of the product, the harm caused by the cycle of repeated borrowing, and my age and financial inexperience at the time of use. Its important to mention while the company states that I paid XXXX loans in full, those payments were only possible because I repeatedly took out new short-term loans to cover prior balances. This resulted in a cycle of borrowing that increased my overall financial harm rather than resolving it. The companys response fails to engage with these substantive issues and instead provides a generalized recap of payments and contract signing without addressing the core concerns of unfair design, misleading disclosure, consumer vulnerability, debt cycling, or appropriate corrective remedies. I respectfully request that this complaint be reviewed with my original concerns fully and accurately represented, and that consideration be given to relief commensurate with the harm incurred I hope that my resubmission of this complaint is taken seriously as I believe it demonstrates a repeated pattern within the company that shows signs of continuous shady practices that takes advantage of young individuals with lack of financial literacy, and the company has shown time and time again that they will use Legal jargon, mischaracterize complaints, and use word salad for lack of better term to scare customers away from making valid complaints to their company and its predatory practices. I was not told upon submission of feedback that a complaint is closed and can not be reopened, and this is only caused more frustration because I thought submission of feedback would be reviewed and possibly be reopened as the subject of my feedback was largely focused on the fact that I dont believe this shouldve been closed as it did not address any of the substance of my initial complaint in the first place. 

CLOSED COMPLAINT ID XXXX XXXXXXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation