Clear Water Lending

Review: I originally initiated a payday loan with this company. I had recently found that they were not licensed in my state of SC, and emailed them to go over the fact. I also included the fact that the original loan was only for $225.00, but my bank had been debited in an amount over $1,000. I advised them that I would like to have my account considered to be paid in full and even receive a refund for the amount overpaid. I stated that I wished to revoke ACH from them. The company then emailed me back stating that it was my right to revoke ACH, and offered me a settlement that would need to be paid via debit card. I would have accepted that, and emailed the company stating it would be ok as long as I could make the payment on today's date, the 31st. I never received any reply back. This morning I emailed the company saying that I would go ahead and call in to make the payment but wanted to make sure that no other amount had been debited from my account before I do that. I then received an email response stating that the initial payment amount, no settlement, had already been debited from my account. So this company did say that would agree to have ACH revoked and that a settlement could be made, but then apparently backed out on that without ever letting me know.Desired Settlement: I do now wish to be refunded from this company the amount that has been overpaid and to also have my account marked as paid in full.

Business

Response:

Thank you for sending us our customer's concerns.

Review: [redacted] responded to a third party site online regarding my request for a payday loan. I spoke with them on the phone, both before and after signing loan paper agreements. During my second, and final phone call, they requested my bank account routing number, account number and password to verify my income and payroll deposit from my job. They also asked for my answers for security questions. At the end of the call, they decided to deny my loan. I also had another company gain access to my account, whom I also will be reporting, and I did tell [redacted] at [redacted] this in the email I asked my wife to send requesting my funds to be returned if their company is the one who did in fact illegally take funds from my account without permission. I had my wife explain that my lawyer is retained, and the police were contacted. He responded telling me not to threaten them, that I have no basis for what I was saying, etc. And told me they were flagging my application as fraudulent, which it absolutely was not. I am contacting the Attorney General as well. I am also going to seek a Defamation of character suit against this company now for attempting to damage my credibility by flagging me as fraudulent. I want this handled and my funds returned. Or, I will sue them for defamation of character, court costs as well as the $89.00 withdrawn if [redacted] is in fact to blame for larceny of my funds, and I will ensure they are prosecuted to the fullest extent of the law.Desired Settlement: I want them to remove the fraudulent application flag, cease their other defamation of character actions against myself and wife, and I want my $89.00 returned if they stole it, which will be determined by my bank, lawyer and local law enforcement.

Business

Response:

Mr. [redacted] applied

for a short term loan online through a third party site on September 10, 2013. His request was forwarded to us. Our representatives then attempted to contact

him by phone, email and text. All

telephone attempts to contact Mr. [redacted] at his home number ending in 5003 were

unsuccessful. We attempted to contact

him on his cell number ending in 4206 but the number was not working. We then attempted to call him at his employer's number but we were again unsuccessful. We

looked at all our phone records through September 12 but could not find a

single recording in which we spoke to Mr. [redacted] or Mrs. [redacted]. We continued to send email reminders each day through September 12, 2013.

On September 11,

2013 we sent a request to Mr. [redacted] by email asking him to send us his most

recent bank statement. The link we sent

him went to a third party site which allows a customer to securely enter their

banking credentials. Once the customer

has logged into their online bank account the service sends us a copy of the customer’s

latest banking information and ledger.

We never have access to the customer’s bank login information or

password. The third party site is

extremely secure and encrypts all sensitive information.

On September 12,

2013 we made one more attempt to contact Mr. [redacted]. At 8:46AM MT we receive an email from either

Mr. [redacted] or Mrs. [redacted]. The email is

very threatening and tells us that if took $89 from their bank account we

better but it back. The email states the

[redacted]s were going to file a police report, file a complaint with the State AG

office and file a Revdex.com complaint if it was determined we took the money.

I then sent Mr.

[redacted] an email responding to his email or the email from his wife. I explained that Mr. [redacted] applied at a

website that is not owned nor controlled by us.

His information was sent to several lenders before we accepted it. I also informed him that later that day we

received a second request from him or his wife with slightly different

information. We attempted in good faith

to contact him about his request but were unsuccessful. Given the tone of his initial email to us,

receiving a second slightly different loan request and the fact he stated his

bank account was compromised, we withdraw his request and flagged it for possible

fraud. This is a designation we keep

internally and it is not reported to any third party bureaus.

We receive two more

emails from Mr. [redacted] in which he threatened legal action against us for

falsely accusing us of taking $89 from his account and for defamation. He stated in his emails that he spoke to us

(which was not correct) and that he gave us his bank ID and password. He claimed in this call that we asked for

this information. No reputable company

would ask a customer for such information and we certainly did not. Mr. [redacted] did indicate that he had spoken to

another lender and was going to file complaints against them.

We feel this

complaint is unwarranted and baseless.

Mr. [redacted] uses the word “if” to describe actions we did not commit. We have contact the company from whom we

received Mr. [redacted]’s loan request and asked them to investigate his

claims. They are still looking into the

matter. At this point we feel we have

answered this complaint in a timely and thorough manner.

Review: I took a $300 payday loan out 10/01/2013 with this company. I was told that after 5 payments my principle amount would decrease & be paid off in several weeks. This company charged me ridiculous interest rates and has charged me approximately $1400 for a $300 loan & when the loan was supposed to be satisfied they continued to take payments from my checking account. Now they continue to send me emails, call me & texts telling me my account is past due. I threatened them previously with reporting them to the Revdex.com and they said they would resolve the issues but yet continue to contact me everyday!Desired Settlement: I would like some compensation from this company for over charging me & continuing to take money from my checking account when the loan was fulfilled. I believe I was way overcharged & deserve some of my money back.

Business

Response:

To Whom This May Concern:

Ms. [redacted] applied for a FlexPay loan (not a payday loan) on or about September 30, 2013. Ms. [redacted] electronically signed her loan agreement on September 30, 2013. She was required to sign in three places on the document. One part of the loan agreement she signed dealt with the loan fees and repayment options. We clearly state on the loan agreement that she could have paid the loan back in full on her next pay period, pay her loan fee and elect to pay down on her loan balance or she could elect to only make the minimum scheduled payment.

One of our representatives contacted Ms. [redacted] to discuss her loan request of $300 and proceeded to review the information she entered on her application. During the loan review process, Ms. [redacted] was informed that her first fee payment would be due on October 18, 2013 and that she would receive a reminder email three days prior to each loan payment due date. The reminder messages stated that the fee of $90 would be debited from her account and if she wanted to pay the loan off or pay down on the loan she needed to call us back two days before her loan due date. Our representative went over the terms and conditions with Ms [redacted] on a recorded line. The rep asked Ms. [redacted] if she understood how the loan worked and how she could pay back her loan and Ms. [redacted] acknowledged that she did understand. At no time during the call did the rep tell Ms. [redacted] that after five payments her principal would decrease and her loan would pay off several weeks later. What the rep did tell Ms. [redacted] is that after five fee only payments, we would begin to deduct an additional $10 plus the loan fee. The extra $10 would be applied to Ms. [redacted] loan balance for the purpose of bringing her loan balance down. Her loan agreement even had a schedule of payments and showed that if she only made the minimum payments her loan would pay off in early 2015. Ms. [redacted] received her loan proceeds the next business day.

On December 11, 2013 we noticed that Ms. [redacted] had not received a copy of her loan agreement so we emailed the agreement to the email address we had on file.

On January 14, 2014 we received a call from Ms. [redacted]. She asked our rep why we had debited her account since she did not have a loan with us. Our rep told her that she did in fact have a loan with us and she had made seven payments up to that point. Ms. [redacted] ended the call by telling our rep she needed to do some research and would get back to us.

On April 15, 2014 Ms. [redacted] emailed us expressing concerns that her loan balance was still at $299 (in fact it was down to $230) and she thought her loan should have been paid off by now. One of our reps in our workout department responded to her email and explained again how the loan was working and how after five fee payments we would begin to collect an additional $10 which would go to her loan balance. In his email he offered to cease the finance fees and apply all subsequent payments to her loan balance of $230.

On May 30, 2014, Ms. [redacted] emailed us expressing her confusion and frustration that we were still taking finance fee payments out of her account. Our work out specialist sent her an email stating that we did not get an email back from her in which she had agreed to the proposed loan repayment plan. Ms. [redacted] responded to his email and attached her email that she sent back to us in April showing that she did agree to the terms of three payments of $76 over the pay dates of 4/18, 5/2 and 5/16. At this point the account was escalated to the operations manager and an investigation was opened to locate the email Ms. [redacted] claimed she sent to us. On May 30, 2014 we did locate her email agreeing to the repayment terms. One of our service rep inadvertently put Ms. [redacted] email in an incorrect folder. When we discovered our error we immediately responded to Ms. [redacted] by email, apologizing to her and letting her know the last three fee payments would be applied to her loan balance. Also if there was any over payment we would credit the difference to her. She responded back by email expressing her satisfaction that we located the email and would close her account out.

The delay in posting these last three payments was due to us trying to work with our programmers to figure out a way to reverse out the last three payments without showing that Ms. [redacted] had defaulted on any of them. Up until this point Ms. [redacted] has made all her payments on time and we did not want to blemish her history with reversed out payments. Unfortunately, this took longer than we thought and Ms. [redacted] received another payment reminder email from us. When she received this email in June she became quite upset and emailed us that she was going to file a complaint with Revdex.com and the CFPB if we did not correct her account immediately. We reversed out her last three payments and posted them to her remaining loan balance. We then credited her $70 for over paying.

At this point we feel we satisfied the agreement that Ms. [redacted] agreed to in April 2014 with the email she sent back to us. Ms. [redacted] always received payment reminder emails prior to her payment due date and at any time she could have contacted us about make additional payments to bring her loan balance down faster.

We can provide any supporting documentation this bureau feels is necessary to close this investigation if it is warranted and will not violate Ms. [redacted]’s privacy.

Sincerely,

[redacted] Operations Manager [redacted] ###-###-####

Review: I applied for a loan with Clearwater Lending, DBA Cash Fairy, on Monday 3/23/15. I was approved for $350. I requested the expedited same day wire deposit for an extra $20.00. I was sent an email confirmation with a link to sign the deposit and repayment agreement. Then I was given different times the funds would be deposited and eventually, on Tuesday, was told they will not charge me for the expedite because my funds were sent regular ACH on Monday. [redacted] and another woman were very kind in assisting me, but nothing they said was the same. I was told by [redacted] that I now had an actual loan and the funds were sent via ACH to my bank account on Monday. I made multiple calls to different agents on Tuesday and Wednesday and was told the funds were sent Monday and I will receive them by the end of the business day Wednesday. Once my bank closed at 4pm EST on Wednesday, and still no deposit, I called back and got [redacted]. She then informed me that I was never approved for the loan and that it was never sent to my bank! She also says an email was sent to me explaining this, but I did not receive it. I was shocked and appalled that a valid business could do this. I called back Wednesday evening and asked for a supervisor or manager. I was told the manager was not in, and to call back Thursday. I called Thursday and was told there is no manager and to email [redacted]. In the email, I explained everything I have here, asked them to listen to the recorded calls, and make this right. I also said if this was not resolved by Friday, I would take this to the Revdex.com. On Thursday, I returned to their website to do more investigating. I came across a phone number to call if I could not resolve the issue at the original number. It said "Pease contact the [redacted] Hotline at ###-###-#### between the hours of 9 am and 5 pm MT." I called this number and they answered "[redacted] Complaint Hotline" and I explained everything I said here. They assured me someone would get back to me. My main problem: Because I was told more than once on Tuesday, that funds were sent to my bank account on Wednesday, I spent my last $200 on a bill Tuesday KNOWING that I would have the $350 Wednesday. Why would I expect a lenders employees to lie directly to me more than once?! I cannot pay my full rent now and don't know what to do. We live paycheck to paycheck. Now it's Friday, May 27t, and I still have no return phone call or email. If needed, I can provide the original emails from the company saying I was approved along with the agreement I signed.Desired Settlement: I expect to either receive the loan I was promised and approved for, or at least $200 to cover my rent/bills. I would never have spent that if I did not believe I was getting this money. I have received loans like this in the past and know how they work. I have never had an issue. The signed document also says: Any Agreement entered into through this Application shall be governed by applicable [redacted] and federal law.

Business

Response:

Complaint Handler

Clearwater Lending Group

[redacted]Mail Returned

Review: On 4/29/13 I sent an email to this illegal payday lona company stating that I revoked any and all ACH authorizations with the compnay from debiting any and all of my personal accounts. I advised them that I would pay back the principal amount which was 300.00 but not any interest because according to the state og Georgia I am bound by the state laws where I reside. I received an email back from the company stating that thy would cease all withdrawls and allow me to mail them payments of 100.00 each on 5/3, 5/17, and 5/31. That was not an option for me and I advised I would send a payment once a month. On 5/9/13 I checked my account with [redacted] and there was a debit in the amount of 300.00 that was debited from my new account. I closed my old account just for safty reasons and I did explain to the bank why I was closing my account. [redacted] stated that this company filed a claim on 4/19/13 which is the same day they deposited the 300.00 requesting the money back. I was never notified that they were doing this and now my account with [redacted] is overdrawn. [redacted] is basically saying there is nothing I can do and Cash Fairy is saying they can do this. I asked why I was sent the payment plan letter and the rep could not give me an answer.Desired Settlement: They need to refund [redacted] and cover any fees that have accrued on my checking account. I will pay them back what I owed which is 300.00

Business

Response:

Joel [redacted]

Resolution Moderator

The Revdex.com

Mr. [redacted],

Below is our response to Ms. [redacted]’s complaint dated May 15, 2013.

Ms. [redacted] took out her second loan with our company on April 19,

2013 for $300. During the phone

verification process we asked Ms. [redacted] if she read the loan contract and

understood it. She replied that she

had. We informed Ms. [redacted] that we

could electronically transfer the loan proceeds to her debit card so she would

have the funds that day. Ms. [redacted]

accepted this form of transfer and gave us her debit card information. We also

told Ms. [redacted] that if she defaulted we would reverse the transfer if we

deemed it necessary. Ms. [redacted] stated

she would pay the loan back according to the terms.

On April 30, 2013 Ms. [redacted] send us an email informing us that

she had no intention on repaying her loan according to the terms and conditions

of the document she signed. She sent us

a form letter explaining her position and that she would only pay the loan

principal back and not that $90 in loan fees for the use of our money. Ms. [redacted] indicated in her email that she

was revoking our pre-authorized ACH privileges and that she was closing her

account. She feature stated in her form letter that she would repay the principal in monthly installments.

We responded to her email on April 30, 2013. We informed Ms. [redacted] that our company is

owned by the Ft. Belknap Indian Tribe and as a Sovereign Nation; The Tribe

follows Federal Lending Laws. We

acknowledged that we would not attempt to ACH her account for the loan fee she

rightfully owed or the principal. We

further instructed her that repaying the principal in monthly installments was

not an option for us. We instructed her

to make her first $100 repayment by May 3, 2013 and the next two installments

over her next two pay periods.

On May 2, 2013 we received another email from Ms. [redacted] stating

that she would not be making her installments starting on May 3 or on her other

pay periods. At that point we considered

her loan in default and initiated a recovery of our principal from her debit

card. This was not an ACH withdrawal but

a recovery under the Electronic Funds Transfer guidelines. Under the guidelines the receiving bank must

return the funds if the sender submits the proper reason and explanation.

We did not debit Ms. [redacted]’s second bank account. We were not aware Ms. [redacted] had opened

another bank account. The fact that Ms.

[redacted] had the funds withdrawn from her other account is an issue she will need

to address with her bank.

Ms. [redacted] then sent us another email on May 14, 2013 demanding

that we send her an email stating her account was paid in full. We told Ms. [redacted] that we would not do

this. We told Ms. [redacted] that the loan

fees will remain on our system as unpaid and will be reported to the risk

reporting companies we use. We also told

Ms. [redacted] that we would not seek to collect the fees she owed us. We feel this is a fair compromise and

consider the matter closed.

In this complaint, Ms. [redacted] is demanding we reimburse her for

the overdraft charges she incurred. We

feel that loan fees Ms. [redacted] refused to pay us should more than offset her

claims.

Sincerely

Customer Support

Cash Fairy

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

[To assist us in bringing this matter to a close, we would like to know your view on the matter.]

Regards,