Consumer complaint received 2024-09-02 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Payday loan
Issue: Charged fees or interest you didn't expect — 
Company: ENOVA INTERNATIONAL, INC.
State: FL

Complaint narrative:
This is a complaint for an unlawful credit product, cash advance, payday loan, consumer loan or line of credit contract or agreement with NetCredit XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX NetCredit ''. 

On XX/XX/XXXX I agreed for NetCredit to obtain my credit report for the purpose of a consumer loan. NetCredit approved and funded a {$1500.00} loan to me designated as a line of credit as shown on the attached contract for Account # XXXX. 

On XX/XX/XXXX the loan was funded by direct deposit to my checking account in the amount {$1300.00} after a {$150.00} fee charge was deducted. 

On XX/XX/XXXX I called NetCredit who said I owed a payment on XX/XX/XXXX of {$220.00}. The person I spoke with could not explain how the payment was determined, could not tell me the Annual Percentage Rate of Interest ( APR ) or anything else. The person referred me to a Minimum Payment Estimator for my Cash Advance Balance. 

Later I found the Minimum Payment Estimator for my Cash Advance Balance at this link https : //my.netcredit.com/my_account/loan_details XXXX XXXX Account XXXX XXXX Due Date Cash Advance Balance Portion of Cash Advance Balance Due Statement Balance Fee Minimum Payment XX/XX/XXXX {$1500.00} {$75.00} {$150.00} {$220.00} However there is no explanation of the Annual Percentage Rate of Interest ( XXXX ), and I was not provided a Truth In Lending Act ( TILA ) statement. Apparently I signed or agreed to through Electronic Fund Transfer Authorization Documentation for an ACH withdrawal from my XXXX XXXX XXXX, Account XXXX, Routing Number XXXX. This is the bank account for my Social Security retirement income. I am age XXXX. 

I also found online a XXXXXXXX XXXX XXXX  XXXX XXXX Open-Ended Line of Credit Agreement at, https : XXXX Separately, I found a letter from the Florida Office of Financial XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX Bank & XXXX XXXX XXXX XXXX XX/XX/XXXX, that states in part : " Reference is made to your recent letter/fax requesting approval of the above-referenced name which is a bank and trust company located in XXXX, Kentucky and will be operating a loan production office in XXXX XXXX XXXX. 

As Section XXXX, Florida Statutes, exempts a financial institution, holding company or its subsidiaries from the prohibition of using the word " bank, '' " banco, '' banque, '' " banker, '' " banking, '' " trust company, '' " savings and loan association, '' " savings bank, '' or " credit union, '' or words of similar import, in any context or in any manner in its corporate name, the Office will not object to the use of the above name being registered to transact business as a foreign corporation in the state of Florida. This does not authorize the institution to engage in a banking business in the state of Florida. Proper regulatory approvals will be required. '' As of today none of the lenders have obtained regulatory approval in Florida. NetCredit, XXXX XXXX  XXXX XXXX XXXX, and XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX have XXXX in XXXX banking business in Florida. None of them are registered with the XXXX XXXX XXXX XXXX. 

NetCredit XXXX XXXX XXXX, Principal Address, XXXX XXXX XXXX XXXX. XXXX XXXX, XXXX, IL XXXX, is registered as a Florida XXXX ( DE XXXX XXXX XXXX XXXX XXXX, but is not registered with the Florida Office of Financial Regulation. 

XXXX Bank XXXX XXXX XXXX, Principal Address, XXXX XXXX XXXX XXXX, XXXX, KY XXXX, is registered as a Florida XXXX XXXX DE XXXX XXXX XXXX, but it is not registered with the Florida Office of Financial Regulation. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX Holdings, XXXX XXXX not XXXX with XXXX the Florida Department of State or XXXX Florida XXXX XXXX Financial Regulation XXXX 

Enclosed you will find the letter from the Florida XXXX XXXX XXXX XXXX addressed to XXXX XXXX XXXX, XXXX, XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, dated XX/XX/XXXX, the XXXX Florida Annual Report for NetCredit XXXX XXXX XXXX, the XXXX Florida XXXX Report for XXXX Bank XXXX XXXX XXXX, and search results of the Florida XXXX XXXX XXXX XXXX showing none of the lenders are registered with the Florida XXXX XXXX XXXX XXXX. 

XXXX Bank XXXX XXXX XXXX XXXX FLORIDA XXXX Netcredit XXXX XXXX XXXX XXXX FLORIDA XXXX XXXX XXXX XXXX XXXX NO FLORIDA XXXX XXXX XXXX XXXX, XXXX NO FLORIDA XXXX Consumer Finance Companies with a license in Florida XXXX authorized to solicit, make and collect loans to consumers in this state for an amount not exceeding {$25000.00} at an interest rate greater than 18 %. 

NetCredit, et al, failed to provide me with a Truth In Lending Act ( TILA ) statement in violation of 12 CFR Part 1026 - Truth in Lending ( Regulation Z ), under TILA, 15 USC 1601 et seq., title I of the Consumer Credit Protection Act ( Pub. L. 90-321 ). 

NOTE : Apparently in XXXX I applied for a loan through NetCredit, and one of several offers up to {$1700.00} was only {$150.00} a month for 30 months, at 98.59 % APR. See the attached document I located yesterday. The offer assured me " Your chance of approval is excellent '' but the loan was denied. The APR of 98.59 % violates Florida law for usury. Section 687.02 ( 1 ), Florida Statues, defines " Usurious contracts '' as " All contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt, or upon any obligation whatever, at a higher rate of interest than the equivalent of XXXX percent per annum simple interest are hereby declared usurious '' Section 516.031, Florida Statues, Finance charge, sets a maximum interest rate at 36 %. The APR of 98.59 % is exploitation of the poor, and in particular elderly persons like me, age 68, see section 825.101, Business relationship ; and section 825.103 Exploitation of an elderly person ; Florida Statutes.

I am a citizen of the State of Florida, and a citizen of the United States.

On May 19, 2023, the Florida Office of Financial Regulation wrote me in another matter about Cash Advance lenders like NetCredit, also called payday lenders : " Unfortunately, the payday lenders in question are not licensed by the OFR. Licensed Florida payday lenders ( also known as deferred presentment provider or installment deferred presentment providers ) are regulated by the OFR. However, a growing number of unlicensed payday lending companies are preying on consumers. These unauthorized companies charge interest and fees in excess of the permissible limits mandated by the state. '' " Florida has extensive rules that govern how payday lenders operate. Unlicensed lenders advertise loans that fail to comply with XXXX consumer protection laws, including the number of payday loans that a consumer can have open at XXXX time, the amount of the loan, and allowable fees. While the offer of immediate cash might be enticing, these loans prey upon consumers who XXXX be experiencing financial distress and evade all the consumer protections offered by Florida law. '' " Effective XX/XX/XXXX, the Florida Legislature provided additional protections to consumers in this state through a new law that renders any payday loan made by unauthorized lenders unenforceable and uncollectable in Florida ( see 560.125 ( 1 ), Florida Statutes ). '' This means NetCredit, et al, broke the law because each is an unauthorized lender in FL : XXXX XXXX  XXXX XXXX XXXX is an unauthorized lender in Florida Netcredit Loan Services LLC is an unauthorized lender in Florida XXXX XXXX XXXX XXXX is an unauthorized lender in Florida XXXX XXXX XXXX, XXXX is an unauthorized lender in Florida Therefore the XXXX XXXX  XXXX XXXX XXXX Open-Ended Line of Credit Agreement is unenforceable and uncollectable in Florida, and the agreement is void or voidable. 

As such, I hereby revoke my prior ACH Electronic Fund Transfer Authorization, effective today, XX/XX/XXXX, and give notice of the revocation to Netcredit XXXX XXXX XXXX, XXXX Bank XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, and XXXX XXXX XXXX, XXXX that I revoke my XXXX XXXX Fund Transfer Authorization made XX/XX/XXXX and at any other time. 

Also, I gave notice to Netcredit XXXX XXXX XXXX, XXXX XXXX  XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, and XXXX XXXX XXXX, XXXX, that I opt-out of the Arbitration Agreement in the XXXX XXXX  XXXX XXXX XXXX XXXX Line of Credit Agreement, a/k/a the " Cash Advance '' agreement or payday loan agreement. 

XXXX XXXX  XXXX XXXX XXXX, c/o NetCredit Attn : General Counsel XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, IL XXXX. 

I also gave notice to Netcredit XXXX XXXX XXXX, XXXX XXXX  XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, and XXXX XXXX XXXX, XXXX, that I demand a jury trial of all issues tirable in the event of a dispute ; and that any such dispute be adjudicated in a court of competent jurisdiction, including class-action litigation. 

Proposed resolution : Declare as void, unenforceable and uncollectable the XXXX XXXX  XXXX XXXX XXXX Open-Ended Line of Credit Agreement, a/k/a the " Cash Advance '' agreement or payday loan agreement. My prior Electronic Fund Transfer Authorization for an ACH withdrawal from my XXXX XXXX Bank, Account XXXX, Routing Number XXXX is revoked and void. In addition, Netcredit XXXX XXXX XXXX, XXXX Bank XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, and XXXX XXXX XXXX, XXXX ought to be sanctioned and fined as provided by law. 

Thank you. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, FL XXXX XXXX : XXXX Email : XXXX Enclosures

Company response to consumer: Closed with explanation