AAA Community Finance

This is [redacted]'s second loan with our company.  All loan products have a contract length of one year.  This information is included in the Federal Truth in Lending Box, and the Amortization Schedule.  Both documents were reviewed and signed by [redacted].  The current loan was taken...

on May 24, 2016, and the Maturity date is May 19th, 2017.  A copy of the loan paperwork is given at the time of the loan at the store location, and an additional copy can be picked up at the store location during our business hours.

We spoke to Ms. [redacted] about the issue she was having on her account and were able to resolve to both of our satisfactions.  Thank you.

Complaint: [redacted]
I am rejecting this response because:
The information is correct, My application stated I was an Army Reservist. I am not on any active duty orders for more than 30 days. The Federal law does not prohibit loans, it provides special protections for Active Duty Military. I am not an ACTIVE DUTY Military Service member.
Sincerely,
[redacted]

We spoke to Ms. [redacted] on 1/3/18.  She understood that her due date was on 12/29/17, which was the day the payment was pulled.  The confusion was, her normal due dates land on Monday's, but Monday was a Holiday so the due date per the original signed contract was set on 12/29/17.  To...

accommodate the situation we came to a mutually beneficial agreement.  Ms. [redacted] is happy with the result.

The pre-approval is based on the information we received on the original application.  If information is verified to be different than the application it will affect the final approval.  On the application we received that the customer does not have any Military affiliation....

 Unfortunately, it was determined that the customer is part of the army reserves.  The Federal Government prevents us from offering our loan products to customers with Military affiliation.

Initial Business Response /* (1000, 5, 2015/08/06) */
Contact Name and Title: [redacted] Manager
Contact Phone: XXXXXXXXXX
Contact Email: [redacted]@aaacommunityfinance.com
On 4/27/15, the origination date of this cash advance, Mr. [redacted] asked us if we report to credit reporting agencies. We...

informed him that we do, which is outlined on the contract.
Mr. [redacted] received a copy of his contract on the origination date and has also received a billing statement outlining the charges every 2 weeks starting on 05/07/15, and this states the minimum payments due. The billing statement also states "Minimum Payment Warning: When you make only the minimum payment, you will not reduce your principal balance", and "To reduce your principal balance, you must pay more than the combined amounts listed above at least one day, before the NEXT MINIMUM PAYMENT AMOUNT DUE DATE and you will pay less in interest and fees and pay off the balance sooner."
On 7/29/15 Mr. [redacted] called in and inquired about how to lower the cash advance principle balance. He was advised to pay above the minimum payment and that would reduce his balance quicker. He made a payment above the minimum and that payment did affect the principle amount as advised. The fees that have been applied to the account are according to the original signed contract. We called Mr. [redacted] and discussed the complaint and explained the contract further and came to an understanding

Complaint: [redacted]
I am rejecting this response because: This company used an account they normally do not use causing me a overdraft fee.
Sincerely,
[redacted]

The overdraft was credited to her account per our original discussion on the phone.

[redacted] applied for a loan on 10/13/16.  It was approved on 10/13/16 and her funds were to be deposited on 10/14/16.  Unfortunately, the bank account supplied to us on her application was incorrect, thus the funds never got to her account.  Since 10/14/16 was a Friday the funds would...

not be returned back to us until Monday 10/17/16.  We received the funds back on 10/17/16 and voided her loan.  We spoke to [redacted] and she was still interested in receiving the funds, so the new agreement was setup with the updated banking information and released on 10/17/16.  [redacted] received her money on 10/18/16 and is happy with the service.If you have any questions let me know.Thanks,[redacted]

Ms. [redacted] took out a loan for $150 on 12/02/2016.  The legal binding agreement signed is for a year installment loan with monthly minimum payments.  The total paid if the loan was held out for an entire year would be $1,210.91.   However, this loan can be paid off at anytime and...

only interest due will be charged.  This is explained thoroughly at the inception of every loan and on the agreement. If Ms. [redacted] wishes to pay the loan off and save on interest, please have her call the store for the current payoff amount.