We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.According to our records, *** ***’s loan was originated on 1/24/She made monthly payments, then paid the balance in full on 7/1/Our standard business practice is to
submit a monthly report to TransUnionCredit reporting updates are not submitted transaction by transactionWe report the status of accounts as of the end of each month, in the following month. RISE has not yet reported for the month of July, as that reporting will be submitted in August.As a courtesy, we have submitted a manual update to TransUnion indicating that *** ***’s loan is paid in full. That update should be reflected on her credit report within the next two business days
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.RISE Credit Service of Ohio, LLC d/b/a RISE holds a certificate to engage in the business of a Credit Services Organization (CSO), granted by the State of Ohio Department of Commerce, Division of
Financial InstitutionsRISE operates in compliance with the provisions of Sections to of the Revised Code of Ohio, and all other applicable state and federal laws.As a CSO, we help consumers obtain an extension of consumer credit from a lenderFor this service, RISE charges a CSO fee The CSO fee is based on the amount and term of the loan obtainedThe lender charges 25% per annum simple interestThis information is disclosed on our website, and in *** ***’s Loan Agreements in much greater detail.We strive to be transparent and straightforward about our rates and terms so that consumers can make an informed choice Each time that *** *** accepted a loan, she electronically signed a Loan Agreement which included Federal Truth in Lending Disclosures that clearly state the Annual Percentage Rate, the Finance Charge (inclusive of CSO fees), and the exact payment schedule for the loan.*** *** indicated that her complaint is in regard to a payday loan However, according to our records, *** *** has received six installment loans, of which five have been paid in fullThe active loan was originated on 9/22/in the principal amount of $Two payments have been applied to this loan: $on 10/15/(applied as $to principal, $to interest, $to CSO fee), and $on 10/31/(applied as $to principal, $to interest, $to CSO fee)The current principal balance is $1, *** *** may access her Loan Agreement and account history at any time by logging into her account at www.risecredit.com.*** *** may prepay her loan in part or in full at any time without penalty Any amount paid above the minimum scheduled payment due will be applied to principal, which will reduce the amount of interest and CSO fees paid over time.Thank you for the opportunity to address *** ***’s concerns
Dear *** ***We believe that we have fully addressed *** ***'s complaint with our initial response. If she has any additional questions or concerns, we would be happy to review and provide an additional response. Sincerely, RISE
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.When *** *** applied for a RISE loan on 6/2/2015, he encountered a technical problem with our website which prevented him from selecting his preferred loan amount Unfortunately,
despite our diligent efforts, we were unable to resolve the technical issue until 6/30/The problem has now been resolved, and *** *** was able to accept a new RISE loan in the amount of $2000.We apologize for any inconvenience this has caused, and appreciate *** ***’s patience throughout the process As a courtesy, we are waiving the first payment due on the account Therefore, ***
***’s first loan payment will not be due until 7/24/2015, in the amount of $287.77.Thank you for the opportunity to address *** ***’s concerns
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.According to our records, *** *** has had three RISE loans, including the active loan that is the subject of this complaint.We understand that she is concerned with how her payments are being
applied to principal and interestThese are simple interest installment loans in which interest accrues daily on the unpaid principal balance, until the loan is paid in full Payments are applied first to fees due, then to interest, then to principalAs with all installment loans, at the beginning of repayment a larger portion of each payment goes to interest than to principal, and the portion that goes to principal increases over time*** *** stated that she has not had this problem with her previous loans. The same process was applicable to those loansHowever, the effect may not have been as apparent to her because those loans were for smaller amounts, had shorter repayment terms, and the bi-weekly payment amounts were larger in proportion to the amount borrowed.*** *** may prepay her loan in part or in full at any time, without penaltyAny amount paid above the minimum scheduled payment due will be applied to principal and will reduce the total amount of interest she will pay over time.For returning RISE customers, we lower the rate on future loans based on payment historyFor example: after a customer has made bi-weekly payments, the rate for their next loan will be 50% off (excluding customers with starting rates of less than 75%)This program is explained in more detail on our website.Sincerely,RISE
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my dispute
Please enter your reason(s) for rejecting the business response below
Regards,
Bobby Pearson
I do not accept the response made by the business because they haven't sent any documentation proving that debt is validI told them that this is a fraudlent account I had read about the numerous complaints that Payday One which is Rise Credit now had in the pastI want this debt remove immediately from my Experian and Equifax account.I'm a disabled veteran who is disappointed that this company will try to take advantage of meThis debt being placed on my credit reports have caused a major inconvenience to meMy father is homeless and I'm trying to get a loan to help him out with a place to liveHowever, due to this debt being place on my credit reports without any justification I"m unable to help my Dad I have been asking for proof constantly from Rise Credit and Midwest Recovery Systems (the agency who have this account at this time.) I think it is very suspicious that Rise Credit or Midwest Recovery Systems doesn't have any documentation showing that debt is validI have talk to both agencies who conatantly try to rationalized why they can;t send me proof of this debtI am certainly considering to contact my attorney regarding this if I can't get this account erase from my credit reportsAlso, I been trying to get a houseHowever, due to this debt showing that I was derogatory on this account in Feb 2016, I can't receive anything because of thisI have talk to credit repair bureau and they told me that even if the debt was validIt shouldn't be showing on my account as late now because this account according to my credit report is years oldTherefore, Rise Credit and Midwest Recovery Systems is using illegal tacticsI try to cooperate with this companyNevertheless, they are asking me to fill out a fraud report when this debt was initated by their company
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my dispute
Please enter your reason(s) for rejecting the business response below
Regards,
*** ***
I Bernadine skillom, would like copy of my contract stating that I signedstating that I signed I will pay 250%on this loan The loan was only for $1,
and now your company was $in intrests back for this loanThis is not making sinceI would like to be sent a copy sent that confirmed this
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. *** *** had previously cancelled his ACH authorization a few years ago when he had an active PayDay One loan. When he called about reapplying, the first agent he spoke to incorrectly
advised that *** *** could send in a handwritten letter re-authorizing ACH pay paymentsIn fact, we do require that a specific form be completed and signed, as *** *** was later informed when he spoke to different agent on 8/8/2016. We apologize for any inconvenience, and have removed *** ***’s email address and telephone numbers from our systems. Thank you for the opportunity to address this matter
Dear *** ***RISE (formerly PayDay One) has not and does not report PayDay One accounts to any major credit bureau. As explained in our previous response, we sold the debt years ago. We do not have any knowledge or control of credit reporting by Midwest Recovery Systems. We recommend that MrPearson submits a credit dispute directly to the credit bureaus and/or Midwest Recovery Systems if he believes the account should not be reported by Midwest Recovery. *** *** is currently in contact with one of our representatives who is retrieving his archived Loan Agreement to provide as verification of this account. Again, as we have explained, we will be happy to review the account in relation to an identity theft claim, but we do require appropriate documentation of the claim. Thank you, RISE
We are in receipt of *** ***’s additional complaint, and appreciate the opportunity to respond.Our Fraud department has processed *** ***’s Identity Theft Affidavit, and completed their investigationAs a result, we have charged off the fraudulently originated loanIn addition, we submitted a request to TransUnion to delete the tradeline due to fraud, and have confirmed today that the update has been completed We have also reported the confirmed fraud to Clarity Services and requested deletionThese are the only two credit reporting agencies to which we have reported the fraudulent account.We would like to assure *** *** that RISE takes fraud very seriouslyOur underwriting process includes multiple techniques designed to detect fraudulent loan applications, and we diligently work to continuously improve these processes to stay ahead of perpetrators of fraud
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.According to *** ***’s Loan Agreement, if any payment is not honored or cannot be processed for any reason, including not enough money in her Bank Account, she agrees to pay us a fee of
$30.00. Because payments are first applied to fees due, then interest and principal, the payment following the posting of the NSF fee to the account covered that feeOur agent was unable to “waive” the fee because it had technically been paid by the next payment that was applied to the account.Given her excellent payment history with RISE, we have decided to make a courtesy adjustment to ***
***s account in the amount of $to bring it to a current status.Thank you for the opportunity to assist
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.We have reviewed our records, and it appears that *** *** has never had an account with RISE (formerly known as PayDay One).We have recently seen an increase in phony debt collectors
claiming to collect on PayDay One loan accountsThe scammers claim to be with several different collection agencies or to represent certain attorneys and are calling and/or emailing consumers, claiming that they have defaulted on a loan Please be assured that our company has no association whatsoever with these scammersWe advise *** *** not to release any kind of payment or personal information to “*** ***” or anyone else who may contact her about a PayDay One accountShe may also contact the Federal Trade Commission (FTC) to report this activity.We are working with legal authorities to locate these scammersWe would appreciate any information that *** *** can provide to assist our investigation, such as the phone numbers or other email addresses from which these collection emails were initiated.Thank you for the opportunity to address *** ***’s concerns
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.PDO Financial LLC, DBA RISE is licensed as a loan company by the State of Wisconsin Department of Financial InstitutionsYou may view our license at www.risecredit.com under Loan Cost and
Terms; choose the State of Wisconsin, then “View License/Registration”RISE operates in compliance with all applicable federal and Wisconsin Laws.When *** *** accepted her RISE installment loan, she electronically signed a Loan Agreement that included Federal Truth in Lending DisclosuresThese disclosures clearly state the Annual Percentage Rate, the Finance Charge (the cost of credit expressed in a dollar amount), and the exact payment schedule.*** *** may prepay her loan in part or in full at any time without penaltyAny payment amount above the minimum scheduled payment due will be applied to principal and will reduce the total amount of interest paid over time. Sincerely,
We received your inquiry about the issues you are having with your credit report, and appreciate the opportunity to respond.It has come to our attention that some of our customers are seeing incorrect information about their RISE account on their TransUnion credit report. Your account...
status is correctly reflected in our system of record, and that information has been reported to TransUnion. We are working to determine the cause of this discrepancy and expect to have the issue resolved soon.In the meantime, we have submitted a manual update of your account status to TransUnion. You should be able to see the updated status within 48 hours. If you experience any additional problems with your TU credit reporting, please respond to this email to let us know.We apologize for any inconvenience you have experienced in relation to this issue.
We will mail a copy of the agreement to [redacted], per her request. However, she may access her Loan Agreement at any time by logging into her account at [redacted] .
Please be advised that RISE Credit is not affiliated with Axcess Financial Services. According to our records, on 2/26/2015 a RISE installment loan was originated in the name of [redacted], in the principal amount of $2600. In accordance with our standard operating practices and...
consistent with regulatory requirements, we request that [redacted] submits a notarized identity theft affidavit so that we may begin an identity theft investigation. A blank affidavit may be obtained at the following website: [redacted]
[redacted] . [redacted] may email the completed affidavit to [redacted], or he may fax it to [redacted]. We also suggest that [redacted] visits the Federal Trade Commission’s website, www.identitytheft.gov, which provides extensive information to assist consumers with identity theft recovery. When we receive [redacted]’s affidavit, we will begin our investigation and take prompt action to resolve this matter. In the meantime, we have blocked the phone numbers associated with this account to prevent further collection calls. We would also like to assure [redacted] that RISE takes ID fraud very seriously. Our underwriting process includes multiple techniques designed to detect fraudulent loan applications, and we diligently work to continuously improve these processes to stay ahead of perpetrators of fraud. Thank you for the opportunity to address [redacted]’s concerns. If he has any additional questions or concerns, he may contact our fraud department directly by email at [redacted] or by telephone at [redacted].
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.We would like to assure [redacted] that RISE operates in compliance with all applicable federal and state laws, and we strive to be transparent and straightforward about our product,...
our rates and terms so that consumers can make an informed choice.According to our records, [redacted] applied for and accepted a RISE installment loan in the principal amount of$2600.00 on 3/4/2015. When [redacted] accepted her loan, she electronically signed a Loan Agreement which includes Federal Truth in Lending Disclosures that clearly state the Annual Percentage Rate, the Finance Charge, and the exact payment schedule for her loan. [redacted] called on 3/4/2015 to ask questions about early pay off—our agent explained that the loan would accrue interest daily, and that she would only have to pay interest for the number of days that she kept the loan. The agent also advised there would be no penalty for paying the account off early.Payments of $499.78 were due on the first of each month, starting on 4/1/2015. Although [redacted] states that she has paid four payments of $551.00, our records indicate that we processed three payments of $499.78 (on 4/1, 5/1, and 6/1), for a total of $1499.34. Per the Loan Agreement, interest accrues daily and payments are applied first to fees due, then to accrued interest, then to principal. For example, as of 3/31/2015, interest in the amount of $416.68 had accrued; therefore, the 4/1 payment was applied as $416.68 to interest and $83.10 to principal.On 6/29/2015, [redacted] paid her loan balance of $2881.21 in full. This amount included principal of $2457.13, and accrued interest of $424.08. [redacted] may access her Loan Agreement and review her account history by logging into her account at [redacted].Thank you for the opportunity to address [redacted]’s concerns.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my dispute.
Please enter your reason(s) for rejecting the business response below. I think this a mendacious person who is writing this message. I never seen this collection on my credit report until I applied for a loan with Rise Credit. I had talked to Midwest Recovery Systems and they receive this account from Rise Credit. Therefore I can't believe that they have no knowledge of this account. A collection agency can't pursuit a collection without being authorized to do this first. I really disappointed that Rise Credit will even stoop to this level. I talked to one of the representatives almost two weeks ago. How long should it take Rise Credit to send me proof when they say this debt is valid? If the Revdex.com want me to send a copy of my credit report from Equifax showing that Pay One( Rise Credit)is the original creditor I will be more than happy to do so.I want this account remove from my Equifax and Experian report. I think basically by reading everything online and my personal experience with Rise Credit and its parent company that they are constantly ripped innocent people off. I do not want to provide Rise Credit with any of my personal information further because I personally this is a scam. I think this company making their living out of making fraud claims. Regards,
[redacted]
We are in receipt of [redacted]’s follow-up to the above referenced consumer complaint, and appreciate theopportunity to respond to her additional concerns.Please be assured that applications are not submitted automatically, because they require an electronic signature. According to our records, [redacted] applied on several occasions and she electronically signed a unique and separate application each time.We cannot delete [redacted]’s application information, because federal law does require that lenders retain all information submitted in connection with an application for consumer credit. However, [redacted] may log onto her account to opt out of receiving marketing emails if she prefers.As previously stated, RISE does not share consumer information with third parties, so we are unable to address [redacted]’s concern about spam email and phone calls.Sincerely,RISE
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.According to our records, [redacted] called on Saturday, 7/25/2015 to pay her account in full. Our agent recommended that [redacted] wait until that Monday to make the payment because...
we were experiencing problems with our payment processing system. However, [redacted] indicated that she didn’t want to pay any additional interest accrual, so our agent processed the payment with a debit card, in the amount of $2,405.61.Unfortunately, that payment was actually processed both as a debit card payment and as an ACH payment. Although our agents had escalated this issue for a resolution, we were unable to make the needed corrections to reconcile the account until the ACH payment had either returned or been paid by [redacted]’ bank. The ACH payment was returned by [redacted]’ bank on 7/30/2015, but was automatically represented to [redacted]’ bank; then it was returned again on 8/5/2015. We resolved the payment application error on 8/6/2015.[redacted] states a concern about discovering on 7/31/2015 that her account still had a balance of $103. This resulted as a further complication of the 7/25/2015 payment posting error. On 7/31, this balance appeared because the debit card payment had still not been posted and the ACH payment had been represented to the bank. Interest had continued to accrue as if a payment had not been received. On 8/1/2015, we waived this amount from the account balance.At this point we can confirm that [redacted]’ account was paid in full with the debit card payment that she submitted on 7/25/2015, she has a -0- balance, and we will not be attempting to process any additional payments. When our agents spoke to her on 8/3, they assured her that we will reimburse any fees she has incurred as a result of our error.We want to apologize for the inconvenience that [redacted] has experienced, and reiterate that we will reimburse any NSF fees incurred. We have sent her an email to explain the process for obtaining reimbursement.
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.According to our records, *** ***’s loan was originated on 1/24/She made monthly payments, then paid the balance in full on 7/1/Our standard business practice is to
submit a monthly report to TransUnionCredit reporting updates are not submitted transaction by transactionWe report the status of accounts as of the end of each month, in the following month. RISE has not yet reported for the month of July, as that reporting will be submitted in August.As a courtesy, we have submitted a manual update to TransUnion indicating that *** ***’s loan is paid in full. That update should be reflected on her credit report within the next two business days
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.RISE Credit Service of Ohio, LLC d/b/a RISE holds a certificate to engage in the business of a Credit Services Organization (CSO), granted by the State of Ohio Department of Commerce, Division of
Financial InstitutionsRISE operates in compliance with the provisions of Sections to of the Revised Code of Ohio, and all other applicable state and federal laws.As a CSO, we help consumers obtain an extension of consumer credit from a lenderFor this service, RISE charges a CSO fee The CSO fee is based on the amount and term of the loan obtainedThe lender charges 25% per annum simple interestThis information is disclosed on our website, and in *** ***’s Loan Agreements in much greater detail.We strive to be transparent and straightforward about our rates and terms so that consumers can make an informed choice Each time that *** *** accepted a loan, she electronically signed a Loan Agreement which included Federal Truth in Lending Disclosures that clearly state the Annual Percentage Rate, the Finance Charge (inclusive of CSO fees), and the exact payment schedule for the loan.*** *** indicated that her complaint is in regard to a payday loan However, according to our records, *** *** has received six installment loans, of which five have been paid in fullThe active loan was originated on 9/22/in the principal amount of $Two payments have been applied to this loan: $on 10/15/(applied as $to principal, $to interest, $to CSO fee), and $on 10/31/(applied as $to principal, $to interest, $to CSO fee)The current principal balance is $1, *** *** may access her Loan Agreement and account history at any time by logging into her account at www.risecredit.com.*** *** may prepay her loan in part or in full at any time without penalty Any amount paid above the minimum scheduled payment due will be applied to principal, which will reduce the amount of interest and CSO fees paid over time.Thank you for the opportunity to address *** ***’s concerns
Dear *** ***We believe that we have fully addressed *** ***'s complaint with our initial response. If she has any additional questions or concerns, we would be happy to review and provide an additional response. Sincerely, RISE
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.When *** *** applied for a RISE loan on 6/2/2015, he encountered a technical problem with our website which prevented him from selecting his preferred loan amount Unfortunately,
despite our diligent efforts, we were unable to resolve the technical issue until 6/30/The problem has now been resolved, and *** *** was able to accept a new RISE loan in the amount of $2000.We apologize for any inconvenience this has caused, and appreciate *** ***’s patience throughout the process As a courtesy, we are waiving the first payment due on the account Therefore, ***
***’s first loan payment will not be due until 7/24/2015, in the amount of $287.77.Thank you for the opportunity to address *** ***’s concerns
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.According to our records, *** *** has had three RISE loans, including the active loan that is the subject of this complaint.We understand that she is concerned with how her payments are being
applied to principal and interestThese are simple interest installment loans in which interest accrues daily on the unpaid principal balance, until the loan is paid in full Payments are applied first to fees due, then to interest, then to principalAs with all installment loans, at the beginning of repayment a larger portion of each payment goes to interest than to principal, and the portion that goes to principal increases over time*** *** stated that she has not had this problem with her previous loans. The same process was applicable to those loansHowever, the effect may not have been as apparent to her because those loans were for smaller amounts, had shorter repayment terms, and the bi-weekly payment amounts were larger in proportion to the amount borrowed.*** *** may prepay her loan in part or in full at any time, without penaltyAny amount paid above the minimum scheduled payment due will be applied to principal and will reduce the total amount of interest she will pay over time.For returning RISE customers, we lower the rate on future loans based on payment historyFor example: after a customer has made bi-weekly payments, the rate for their next loan will be 50% off (excluding customers with starting rates of less than 75%)This program is explained in more detail on our website.Sincerely,RISE
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my dispute
Please enter your reason(s) for rejecting the business response below
Regards,
Bobby Pearson
I do not accept the response made by the business because they haven't sent any documentation proving that debt is validI told them that this is a fraudlent account I had read about the numerous complaints that Payday One which is Rise Credit now had in the pastI want this debt remove immediately from my Experian and Equifax account.I'm a disabled veteran who is disappointed that this company will try to take advantage of meThis debt being placed on my credit reports have caused a major inconvenience to meMy father is homeless and I'm trying to get a loan to help him out with a place to liveHowever, due to this debt being place on my credit reports without any justification I"m unable to help my Dad I have been asking for proof constantly from Rise Credit and Midwest Recovery Systems (the agency who have this account at this time.) I think it is very suspicious that Rise Credit or Midwest Recovery Systems doesn't have any documentation showing that debt is validI have talk to both agencies who conatantly try to rationalized why they can;t send me proof of this debtI am certainly considering to contact my attorney regarding this if I can't get this account erase from my credit reportsAlso, I been trying to get a houseHowever, due to this debt showing that I was derogatory on this account in Feb 2016, I can't receive anything because of thisI have talk to credit repair bureau and they told me that even if the debt was validIt shouldn't be showing on my account as late now because this account according to my credit report is years oldTherefore, Rise Credit and Midwest Recovery Systems is using illegal tacticsI try to cooperate with this companyNevertheless, they are asking me to fill out a fraud report when this debt was initated by their company
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my dispute
Please enter your reason(s) for rejecting the business response below
Regards,
*** ***
I Bernadine skillom, would like copy of my contract stating that I signedstating that I signed I will pay 250%on this loan The loan was only for $1,
and now your company was $in intrests back for this loanThis is not making sinceI would like to be sent a copy sent that confirmed this
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. *** *** had previously cancelled his ACH authorization a few years ago when he had an active PayDay One loan. When he called about reapplying, the first agent he spoke to incorrectly
advised that *** *** could send in a handwritten letter re-authorizing ACH pay paymentsIn fact, we do require that a specific form be completed and signed, as *** *** was later informed when he spoke to different agent on 8/8/2016. We apologize for any inconvenience, and have removed *** ***’s email address and telephone numbers from our systems. Thank you for the opportunity to address this matter
Dear *** ***RISE (formerly PayDay One) has not and does not report PayDay One accounts to any major credit bureau. As explained in our previous response, we sold the debt years ago. We do not have any knowledge or control of credit reporting by Midwest Recovery Systems. We recommend that MrPearson submits a credit dispute directly to the credit bureaus and/or Midwest Recovery Systems if he believes the account should not be reported by Midwest Recovery. *** *** is currently in contact with one of our representatives who is retrieving his archived Loan Agreement to provide as verification of this account. Again, as we have explained, we will be happy to review the account in relation to an identity theft claim, but we do require appropriate documentation of the claim. Thank you, RISE
We are in receipt of *** ***’s additional complaint, and appreciate the opportunity to respond.Our Fraud department has processed *** ***’s Identity Theft Affidavit, and completed their investigationAs a result, we have charged off the fraudulently originated loanIn addition, we submitted a request to TransUnion to delete the tradeline due to fraud, and have confirmed today that the update has been completed We have also reported the confirmed fraud to Clarity Services and requested deletionThese are the only two credit reporting agencies to which we have reported the fraudulent account.We would like to assure *** *** that RISE takes fraud very seriouslyOur underwriting process includes multiple techniques designed to detect fraudulent loan applications, and we diligently work to continuously improve these processes to stay ahead of perpetrators of fraud
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.According to *** ***’s Loan Agreement, if any payment is not honored or cannot be processed for any reason, including not enough money in her Bank Account, she agrees to pay us a fee of
$30.00. Because payments are first applied to fees due, then interest and principal, the payment following the posting of the NSF fee to the account covered that feeOur agent was unable to “waive” the fee because it had technically been paid by the next payment that was applied to the account.Given her excellent payment history with RISE, we have decided to make a courtesy adjustment to ***
***s account in the amount of $to bring it to a current status.Thank you for the opportunity to assist
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.We have reviewed our records, and it appears that *** *** has never had an account with RISE (formerly known as PayDay One).We have recently seen an increase in phony debt collectors
claiming to collect on PayDay One loan accountsThe scammers claim to be with several different collection agencies or to represent certain attorneys and are calling and/or emailing consumers, claiming that they have defaulted on a loan Please be assured that our company has no association whatsoever with these scammersWe advise *** *** not to release any kind of payment or personal information to “*** ***” or anyone else who may contact her about a PayDay One accountShe may also contact the Federal Trade Commission (FTC) to report this activity.We are working with legal authorities to locate these scammersWe would appreciate any information that *** *** can provide to assist our investigation, such as the phone numbers or other email addresses from which these collection emails were initiated.Thank you for the opportunity to address *** ***’s concerns
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.PDO Financial LLC, DBA RISE is licensed as a loan company by the State of Wisconsin Department of Financial InstitutionsYou may view our license at www.risecredit.com under Loan Cost and
Terms; choose the State of Wisconsin, then “View License/Registration”RISE operates in compliance with all applicable federal and Wisconsin Laws.When *** *** accepted her RISE installment loan, she electronically signed a Loan Agreement that included Federal Truth in Lending DisclosuresThese disclosures clearly state the Annual Percentage Rate, the Finance Charge (the cost of credit expressed in a dollar amount), and the exact payment schedule.*** *** may prepay her loan in part or in full at any time without penaltyAny payment amount above the minimum scheduled payment due will be applied to principal and will reduce the total amount of interest paid over time. Sincerely,
We received your inquiry about the issues you are having with your credit report, and appreciate the opportunity to respond.It has come to our attention that some of our customers are seeing incorrect information about their RISE account on their TransUnion credit report. Your account...
status is correctly reflected in our system of record, and that information has been reported to TransUnion. We are working to determine the cause of this discrepancy and expect to have the issue resolved soon.In the meantime, we have submitted a manual update of your account status to TransUnion. You should be able to see the updated status within 48 hours. If you experience any additional problems with your TU credit reporting, please respond to this email to let us know.We apologize for any inconvenience you have experienced in relation to this issue.
We will mail a copy of the agreement to [redacted], per her request. However, she may access her Loan Agreement at any time by logging into her account at [redacted] .
Please be advised that RISE Credit is not affiliated with Axcess Financial Services. According to our records, on 2/26/2015 a RISE installment loan was originated in the name of [redacted], in the principal amount of $2600. In accordance with our standard operating practices and...
consistent with regulatory requirements, we request that [redacted] submits a notarized identity theft affidavit so that we may begin an identity theft investigation. A blank affidavit may be obtained at the following website: [redacted]
[redacted] . [redacted] may email the completed affidavit to [redacted], or he may fax it to [redacted]. We also suggest that [redacted] visits the Federal Trade Commission’s website, www.identitytheft.gov, which provides extensive information to assist consumers with identity theft recovery. When we receive [redacted]’s affidavit, we will begin our investigation and take prompt action to resolve this matter. In the meantime, we have blocked the phone numbers associated with this account to prevent further collection calls. We would also like to assure [redacted] that RISE takes ID fraud very seriously. Our underwriting process includes multiple techniques designed to detect fraudulent loan applications, and we diligently work to continuously improve these processes to stay ahead of perpetrators of fraud. Thank you for the opportunity to address [redacted]’s concerns. If he has any additional questions or concerns, he may contact our fraud department directly by email at [redacted] or by telephone at [redacted].
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.We would like to assure [redacted] that RISE operates in compliance with all applicable federal and state laws, and we strive to be transparent and straightforward about our product,...
our rates and terms so that consumers can make an informed choice.According to our records, [redacted] applied for and accepted a RISE installment loan in the principal amount of$2600.00 on 3/4/2015. When [redacted] accepted her loan, she electronically signed a Loan Agreement which includes Federal Truth in Lending Disclosures that clearly state the Annual Percentage Rate, the Finance Charge, and the exact payment schedule for her loan. [redacted] called on 3/4/2015 to ask questions about early pay off—our agent explained that the loan would accrue interest daily, and that she would only have to pay interest for the number of days that she kept the loan. The agent also advised there would be no penalty for paying the account off early.Payments of $499.78 were due on the first of each month, starting on 4/1/2015. Although [redacted] states that she has paid four payments of $551.00, our records indicate that we processed three payments of $499.78 (on 4/1, 5/1, and 6/1), for a total of $1499.34. Per the Loan Agreement, interest accrues daily and payments are applied first to fees due, then to accrued interest, then to principal. For example, as of 3/31/2015, interest in the amount of $416.68 had accrued; therefore, the 4/1 payment was applied as $416.68 to interest and $83.10 to principal.On 6/29/2015, [redacted] paid her loan balance of $2881.21 in full. This amount included principal of $2457.13, and accrued interest of $424.08. [redacted] may access her Loan Agreement and review her account history by logging into her account at [redacted].Thank you for the opportunity to address [redacted]’s concerns.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my dispute.
Please enter your reason(s) for rejecting the business response below. I think this a mendacious person who is writing this message. I never seen this collection on my credit report until I applied for a loan with Rise Credit. I had talked to Midwest Recovery Systems and they receive this account from Rise Credit. Therefore I can't believe that they have no knowledge of this account. A collection agency can't pursuit a collection without being authorized to do this first. I really disappointed that Rise Credit will even stoop to this level. I talked to one of the representatives almost two weeks ago. How long should it take Rise Credit to send me proof when they say this debt is valid? If the Revdex.com want me to send a copy of my credit report from Equifax showing that Pay One( Rise Credit)is the original creditor I will be more than happy to do so.I want this account remove from my Equifax and Experian report. I think basically by reading everything online and my personal experience with Rise Credit and its parent company that they are constantly ripped innocent people off. I do not want to provide Rise Credit with any of my personal information further because I personally this is a scam. I think this company making their living out of making fraud claims. Regards,
[redacted]
We are in receipt of [redacted]’s follow-up to the above referenced consumer complaint, and appreciate theopportunity to respond to her additional concerns.Please be assured that applications are not submitted automatically, because they require an electronic signature. According to our records, [redacted] applied on several occasions and she electronically signed a unique and separate application each time.We cannot delete [redacted]’s application information, because federal law does require that lenders retain all information submitted in connection with an application for consumer credit. However, [redacted] may log onto her account to opt out of receiving marketing emails if she prefers.As previously stated, RISE does not share consumer information with third parties, so we are unable to address [redacted]’s concern about spam email and phone calls.Sincerely,RISE
We are in receipt of the above referenced consumer complaint, and appreciate the opportunity to respond.According to our records, [redacted] called on Saturday, 7/25/2015 to pay her account in full. Our agent recommended that [redacted] wait until that Monday to make the payment because...
we were experiencing problems with our payment processing system. However, [redacted] indicated that she didn’t want to pay any additional interest accrual, so our agent processed the payment with a debit card, in the amount of $2,405.61.Unfortunately, that payment was actually processed both as a debit card payment and as an ACH payment. Although our agents had escalated this issue for a resolution, we were unable to make the needed corrections to reconcile the account until the ACH payment had either returned or been paid by [redacted]’ bank. The ACH payment was returned by [redacted]’ bank on 7/30/2015, but was automatically represented to [redacted]’ bank; then it was returned again on 8/5/2015. We resolved the payment application error on 8/6/2015.[redacted] states a concern about discovering on 7/31/2015 that her account still had a balance of $103. This resulted as a further complication of the 7/25/2015 payment posting error. On 7/31, this balance appeared because the debit card payment had still not been posted and the ACH payment had been represented to the bank. Interest had continued to accrue as if a payment had not been received. On 8/1/2015, we waived this amount from the account balance.At this point we can confirm that [redacted]’ account was paid in full with the debit card payment that she submitted on 7/25/2015, she has a -0- balance, and we will not be attempting to process any additional payments. When our agents spoke to her on 8/3, they assured her that we will reimburse any fees she has incurred as a result of our error.We want to apologize for the inconvenience that [redacted] has experienced, and reiterate that we will reimburse any NSF fees incurred. We have sent her an email to explain the process for obtaining reimbursement.