Dear Ms***,We are in receipt of the referenced complaint, and appreciate the opportunity to respond.When Ms [redacted] established her RISE line of credit account, she agreed for her payments to be processed by ACHwithdrawal on the due datesAs described in her Flex Loan Plan Disclosure and Account Agreement, Ms [redacted] may stopany pre-authorized ACH payment simply by calling RISE and making that request, at least three business days before the duedate.Ms [redacted] payments are due semi-monthly, on the 15th and last days of the monthStatements are generated daysbefore each due date, and indicate the amount due on the next due dateIn relation to this complaint, we reviewed Ms[redacted] account history, and found the following:? The first payment ($210.57) due on 10/31/was successfully processed as scheduled.? The second payment ($199.72) due on 11/15/was processed as scheduled, but returned twice due to insufficientfunds.? The third payment ($194.92) due on 11/30/was processed as scheduled, but was initially returned due toinsufficient fundsIt was re-presented to Ms [redacted] bank and paid on 12/4/17.? An additional one-time ACH payment of $was processed by Ms [redacted] on 12/1/17, but was initiallyreturned due to insufficient fundsIt was re-presented to Ms [redacted] bank and paid on 12/4/17.If these transactions do not match Ms [redacted] records, we encourage her to call us, and provide applicable documentationso that we may investigate further.On 12/4/17, we received an email from Ms [redacted] alerting us to her payment application concerns as outlined in thiscomplaintOur agent submitted a request for research to ensure that the payments were properly appliedOur agentreached out to her on 12/11/17, and again on 12/18/to discuss her concerns, and assured her that her payments had beenproperly appliedWe apologize for any inconvenience experienced by Ms [redacted] in regard to the amount of time it took toreach a resolution.Thank you for the opportunity to address this matter.Sincerely,
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respondAccording to our records, [redacted] paid her loan in full on 9/20/When that payment was processed, a system error occurred, resulting in a small balance remaining on the account [redacted] emailed us on 10/5/to alert us to this issueWe responded to advise that the matter would be escalated for resolutionOn 10/8/2016, the remaining balance was cleared, bringing [redacted] ’s account to a -0- balanceThat same day, an automated payment reminder email had already been sent [redacted] contacted us that day via Facebook regarding the email – we responded to ask that she call us to discuss furtherWe regret any inconvenience [redacted] experienced as a result of this system errorWe are not aware of any problem with our phone system, and can assure [redacted] that her account access has not been disabledIf she is still unable to log-in, we encourage her to call [redacted] for further assistance
Complaint: [redacted] I am rejecting this response because: I want to be able to pay back my responsibility but the company is making that impossibleI cannot call for each payment because the phone does not workIt rings once and then nothing Regards, [redacted] ***
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Regards, [redacted]
Dear Ms [redacted] ,We are in receipt of the referenced complaint, and appreciate the opportunity to respond We first would like to assure Ms [redacted] that RISE Credit of Missouri, LLC d/b/a RISE operates in compliance with all applicable state and federal laws, including those that apply to interest rates RISE is registered as a Consumer Installment Lender with the State of Missouri Division of Finance We strive to be transparent and straightforward about our product, our rates and terms by providing extensive information on the RISE website to help consumers make an informed choice To accept a loan, customers are required to electronically sign a Loan Agreement which contains Federal Truth in Lending Disclosures that clearly display the Annual Percentage Rate, the total amount of the Finance Charge that will accrue over the full term of the loan, and the exact payment schedule for their loan In addition, the Loan Agreement includes a business day right of rescission, so customers may cancel their loan at no cost if they change their mind Ms [redacted] accepted a RISE installment loan on 12/21/2016, in the principal amount of $2500, and agreed to repay the loan in bi-weekly installments via ACH withdrawal on the dues datesShe may review her Loan Agreement at any time via her online account at www.risecredit.com This is a simple interest loan, and as such, interest accrues daily in relation to the outstanding principal balanceEach payment is applied first to the accrued interest, then to principal Over time, as the principal balance is reduced, the amount applied to interest will decrease and the amount applied to principal will increase Ms [redacted] may prepay the loan in part or in full, without penalty Any amount prepaid will have the effect of reducing the amount of interest that accrues over time, and may shorten the term of the loan Although Ms [redacted] remains obligated for repayment according to the terms of her Loan Agreement, we do understand that she may be experiencing a hardship If she would like to stop automatic ACH payments, Ms [redacted] may call [redacted] or email [redacted] to make that request She may instead make payments by debit card, or by mailing a check or money order Thank you for the opportunity to address this matter Sincerely, RISE
Please see attached.We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.Settlements are offered as a courtesy to assist customers with resolving their debt, and are always subject to certain limitations. According to our records, we emailed a settlement... offer to Ms. [redacted] on 1/5/2017. Although the email did not explicitly state that the offer would expire after 1/11/2017, it did state that the offer was good for a limited time, and requested a call by 1/11/2017.We don’t believe that anything in the email indicated that there may be a longer time available to make the payment. Regardless, we do regret that the offer was misunderstood, and we appreciate Ms. [redacted] ’s feedback in regard to her experience.We have emailed Ms. [redacted] separately to provide direct contact information for an agent who can assist her with resolving her account, and encourage her to call. Thank you for the opportunity to address this matter.
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to meThe representative I spoke to could not fully explain why my statement and online account still show that payments were returned, but DID cancel the ACH so that I can pay by debit card, so I am satisfied with the resolution Regards, [redacted]
Dear Ms [redacted] , Our previous response, and the supporting documents we provided, clearly detail the facts as reflected in both RISE’s and ***’s records All our research indicates that Mr***, or someone with access to his personal information and bank account, applied for and received a loan via www.risecredit.com Further, our records do not indicate that we received a payment from Mr [redacted] after the debt was charged off (but [redacted] confirmed that they did receive a payment) We received calls from Mr [redacted] on 10/28/ and 12/13/– in each case he called to say he had made a payment, and had been told that the RISE account would not be reported negatively on his credit report Our agents told him then that we had no record of such a conversation, or of a paymentAccording to our records, Mr [redacted] never contacted us to alert us that he had received a loan by mistake The only other documented conversation with Mr [redacted] was a collection call on 2/24/– that conversation was regarding the reason the account fell past due, and when the next payment would be made.Sincerely, RISE
Complaint: [redacted] I am rejecting this response because:Once again rice credit fails to address the issue that was brought to the table in the first placeThey're neglectfulness and poor management and not allowing me to pay this loan off in full when I wanted to as a reason that it ended into faultThey need to remove their account from all three of my credit bureaus immediatelyThis is nothing more than a stall tactic from a bottom feeding company that preys on people in Desperate situations [redacted] ***
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Regards, [redacted] ***
Complaint: [redacted] I am rejecting this response because:Again, in your terms and conditions, there is no mention of a hard inquiry that will be made upon application submittal, only a soft inquiryRise does not get to negatively affect my credit for two years, then provide an invalid reason for the denial of the applicationConsumers do have some rights, and in this case, Rise has failed to follow the fair credit reporting act Regards, [redacted] ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.RISE does not offer payday loans, [redacted] ’s loan is a simple-interest installment loan When [redacted] accepted her loan, she was required to electronically sign a Loan Agreement that included Federal Truth in Lending Disclosures that clearly state the interest rate, total cost of credit, and the monthly payment schedule According to our records, [redacted] accepted her RISE installment loan in the principal amount of $on 10/29/2015, and agreed to repay the loan in monthly installments.With simple-interest loans, interest accrues daily on the unpaid principal balance Per the Loan Agreement, each payment is applied first to accrued but unpaid interest, then to principalTherefore, each time a regular monthly payment is posted, it is applied first to cover all the interest that has accrued since the previous payment, and the remainder is applied to principalAt the beginning of repayment, a larger portion of each payment will apply to interest than principal, because more interest is accruingAs the principal balance is reduced over time, less interest will accrue, and more of each payment will apply to principal.RISE does not have an arbitrary policy that we do not accept a principal only paymentAny amount submitted in addition to the regular payment, on the same day, will be applied to principalHowever, when an extra or early payment is posted between regular payment dates, some interest will have accrued since the last payment was applied (because interest accrues daily)The extra/early payment will first be applied to cover that accrued interest, and the remainder of the payment will go to principalWhenever the principal balance is prepaid in any amount, less interest will accrue over time, and the loan may be repaid earlier.If [redacted] has any further questions she may contact our Customer Support team at [redacted] Thank you for the opportunity to address this matter
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.The business claimed that it would contact me within two business daysHowever, it has failed to do so Regards, [redacted]
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 Apparently RISE does not understand the definition of bait and switchHowever, perhaps they now realize that it would have been a better decision for them to take responsibility for their actions instead of having to deal with the consequence of having to explain them to future customers
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 The original loan I agreed to had lower payments and when they approached me with the new loan it had way higher interest rates and payments than what I originally agreed to Regards, [redacted]
Dear Ms***, The RISE application form is entirely electronic, so there are no paper documents or signatures. As we previously stated, Mr*** did not submit a completed application. However, he did start an application, which is how his information was received by RISE. The application is a five step process - on the first page, before the "continue" button there is a disclosure regarding retention of information submitted, as displayed belowMr*** gave his authorization when he clicked "continue" to move to the nest page. Sincerely, RISE
Complaint: ***
I am rejecting this response because: Rise stated in there letter, admitting they have no record or an account in my nameAlso, Rise wants proofWell here is the proof you need on my Transunion reportPlease note: This is a hard inquiry not softWhether
its hard or soft, it was still an unauthorized inquiry made under my name and informationAlso, I called Rise weeks ago and was told they don't remove inquiriesSo why the back and forth and information. Remove ASAP or I will contact my attorney!
Regards,
*** ***
Dear Ms***, As it is not clear to us that Ms*** is fully authorized on Mr***' account, we are responding directly to Mr*** via the email address we have on record. Sincerely, RISE
Complaint: ***
I am rejecting this response because: I cannot access the contract I signed, they did not provide a copy to Revdex.com. I would never have clicked and accepted if it had showed or intended to take pmts a month, I simply cannot afford it. They took a pmt on the 10th and and 18th. Not even days apart. I have a major pmt due on 15th of ea mo. I can only only do the payment plan of one payment a month of less than 280.00. I had left in the account to tide me over til February and that is gone alreadyThey took pmts in two months. I tried to priint the contract the day I signed up with it, and nothing prints out but their logoI have copies of everything they have emailed me, if the Revdex.com Would like to see more, but no contract or proof except disappearing money at a rapid rate. Regards
*** ***
Dear Ms***,We are in receipt of the referenced complaint, and appreciate the opportunity to respond.When Ms [redacted] established her RISE line of credit account, she agreed for her payments to be processed by ACHwithdrawal on the due datesAs described in her Flex Loan Plan Disclosure and Account Agreement, Ms [redacted] may stopany pre-authorized ACH payment simply by calling RISE and making that request, at least three business days before the duedate.Ms [redacted] payments are due semi-monthly, on the 15th and last days of the monthStatements are generated daysbefore each due date, and indicate the amount due on the next due dateIn relation to this complaint, we reviewed Ms[redacted] account history, and found the following:? The first payment ($210.57) due on 10/31/was successfully processed as scheduled.? The second payment ($199.72) due on 11/15/was processed as scheduled, but returned twice due to insufficientfunds.? The third payment ($194.92) due on 11/30/was processed as scheduled, but was initially returned due toinsufficient fundsIt was re-presented to Ms [redacted] bank and paid on 12/4/17.? An additional one-time ACH payment of $was processed by Ms [redacted] on 12/1/17, but was initiallyreturned due to insufficient fundsIt was re-presented to Ms [redacted] bank and paid on 12/4/17.If these transactions do not match Ms [redacted] records, we encourage her to call us, and provide applicable documentationso that we may investigate further.On 12/4/17, we received an email from Ms [redacted] alerting us to her payment application concerns as outlined in thiscomplaintOur agent submitted a request for research to ensure that the payments were properly appliedOur agentreached out to her on 12/11/17, and again on 12/18/to discuss her concerns, and assured her that her payments had beenproperly appliedWe apologize for any inconvenience experienced by Ms [redacted] in regard to the amount of time it took toreach a resolution.Thank you for the opportunity to address this matter.Sincerely,
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respondAccording to our records, [redacted] paid her loan in full on 9/20/When that payment was processed, a system error occurred, resulting in a small balance remaining on the account [redacted] emailed us on 10/5/to alert us to this issueWe responded to advise that the matter would be escalated for resolutionOn 10/8/2016, the remaining balance was cleared, bringing [redacted] ’s account to a -0- balanceThat same day, an automated payment reminder email had already been sent [redacted] contacted us that day via Facebook regarding the email – we responded to ask that she call us to discuss furtherWe regret any inconvenience [redacted] experienced as a result of this system errorWe are not aware of any problem with our phone system, and can assure [redacted] that her account access has not been disabledIf she is still unable to log-in, we encourage her to call [redacted] for further assistance
Complaint: [redacted] I am rejecting this response because: I want to be able to pay back my responsibility but the company is making that impossibleI cannot call for each payment because the phone does not workIt rings once and then nothing Regards, [redacted] ***
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Regards, [redacted]
Dear Ms [redacted] ,We are in receipt of the referenced complaint, and appreciate the opportunity to respond We first would like to assure Ms [redacted] that RISE Credit of Missouri, LLC d/b/a RISE operates in compliance with all applicable state and federal laws, including those that apply to interest rates RISE is registered as a Consumer Installment Lender with the State of Missouri Division of Finance We strive to be transparent and straightforward about our product, our rates and terms by providing extensive information on the RISE website to help consumers make an informed choice To accept a loan, customers are required to electronically sign a Loan Agreement which contains Federal Truth in Lending Disclosures that clearly display the Annual Percentage Rate, the total amount of the Finance Charge that will accrue over the full term of the loan, and the exact payment schedule for their loan In addition, the Loan Agreement includes a business day right of rescission, so customers may cancel their loan at no cost if they change their mind Ms [redacted] accepted a RISE installment loan on 12/21/2016, in the principal amount of $2500, and agreed to repay the loan in bi-weekly installments via ACH withdrawal on the dues datesShe may review her Loan Agreement at any time via her online account at www.risecredit.com This is a simple interest loan, and as such, interest accrues daily in relation to the outstanding principal balanceEach payment is applied first to the accrued interest, then to principal Over time, as the principal balance is reduced, the amount applied to interest will decrease and the amount applied to principal will increase Ms [redacted] may prepay the loan in part or in full, without penalty Any amount prepaid will have the effect of reducing the amount of interest that accrues over time, and may shorten the term of the loan Although Ms [redacted] remains obligated for repayment according to the terms of her Loan Agreement, we do understand that she may be experiencing a hardship If she would like to stop automatic ACH payments, Ms [redacted] may call [redacted] or email [redacted] to make that request She may instead make payments by debit card, or by mailing a check or money order Thank you for the opportunity to address this matter Sincerely, RISE
Please see attached.We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.Settlements are offered as a courtesy to assist customers with resolving their debt, and are always subject to certain limitations. According to our records, we emailed a settlement... offer to Ms. [redacted] on 1/5/2017. Although the email did not explicitly state that the offer would expire after 1/11/2017, it did state that the offer was good for a limited time, and requested a call by 1/11/2017.We don’t believe that anything in the email indicated that there may be a longer time available to make the payment. Regardless, we do regret that the offer was misunderstood, and we appreciate Ms. [redacted] ’s feedback in regard to her experience.We have emailed Ms. [redacted] separately to provide direct contact information for an agent who can assist her with resolving her account, and encourage her to call. Thank you for the opportunity to address this matter.
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to meThe representative I spoke to could not fully explain why my statement and online account still show that payments were returned, but DID cancel the ACH so that I can pay by debit card, so I am satisfied with the resolution Regards, [redacted]
Dear Ms [redacted] , Our previous response, and the supporting documents we provided, clearly detail the facts as reflected in both RISE’s and ***’s records All our research indicates that Mr***, or someone with access to his personal information and bank account, applied for and received a loan via www.risecredit.com Further, our records do not indicate that we received a payment from Mr [redacted] after the debt was charged off (but [redacted] confirmed that they did receive a payment) We received calls from Mr [redacted] on 10/28/ and 12/13/– in each case he called to say he had made a payment, and had been told that the RISE account would not be reported negatively on his credit report Our agents told him then that we had no record of such a conversation, or of a paymentAccording to our records, Mr [redacted] never contacted us to alert us that he had received a loan by mistake The only other documented conversation with Mr [redacted] was a collection call on 2/24/– that conversation was regarding the reason the account fell past due, and when the next payment would be made.Sincerely, RISE
Complaint: [redacted] I am rejecting this response because:Once again rice credit fails to address the issue that was brought to the table in the first placeThey're neglectfulness and poor management and not allowing me to pay this loan off in full when I wanted to as a reason that it ended into faultThey need to remove their account from all three of my credit bureaus immediatelyThis is nothing more than a stall tactic from a bottom feeding company that preys on people in Desperate situations [redacted] ***
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Regards, [redacted] ***
Complaint: [redacted] I am rejecting this response because:Again, in your terms and conditions, there is no mention of a hard inquiry that will be made upon application submittal, only a soft inquiryRise does not get to negatively affect my credit for two years, then provide an invalid reason for the denial of the applicationConsumers do have some rights, and in this case, Rise has failed to follow the fair credit reporting act Regards, [redacted] ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.RISE does not offer payday loans, [redacted] ’s loan is a simple-interest installment loan When [redacted] accepted her loan, she was required to electronically sign a Loan Agreement that included Federal Truth in Lending Disclosures that clearly state the interest rate, total cost of credit, and the monthly payment schedule According to our records, [redacted] accepted her RISE installment loan in the principal amount of $on 10/29/2015, and agreed to repay the loan in monthly installments.With simple-interest loans, interest accrues daily on the unpaid principal balance Per the Loan Agreement, each payment is applied first to accrued but unpaid interest, then to principalTherefore, each time a regular monthly payment is posted, it is applied first to cover all the interest that has accrued since the previous payment, and the remainder is applied to principalAt the beginning of repayment, a larger portion of each payment will apply to interest than principal, because more interest is accruingAs the principal balance is reduced over time, less interest will accrue, and more of each payment will apply to principal.RISE does not have an arbitrary policy that we do not accept a principal only paymentAny amount submitted in addition to the regular payment, on the same day, will be applied to principalHowever, when an extra or early payment is posted between regular payment dates, some interest will have accrued since the last payment was applied (because interest accrues daily)The extra/early payment will first be applied to cover that accrued interest, and the remainder of the payment will go to principalWhenever the principal balance is prepaid in any amount, less interest will accrue over time, and the loan may be repaid earlier.If [redacted] has any further questions she may contact our Customer Support team at [redacted] Thank you for the opportunity to address this matter
We are still reviewing this matter, and expect to reach out directly to [redacted] within the next two business days with our response
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.The business claimed that it would contact me within two business daysHowever, it has failed to do so Regards, [redacted]
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 Apparently RISE does not understand the definition of bait and switchHowever, perhaps they now realize that it would have been a better decision for them to take responsibility for their actions instead of having to deal with the consequence of having to explain them to future customers
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 The original loan I agreed to had lower payments and when they approached me with the new loan it had way higher interest rates and payments than what I originally agreed to Regards, [redacted]
Dear Ms***, The RISE application form is entirely electronic, so there are no paper documents or signatures. As we previously stated, Mr*** did not submit a completed application. However, he did start an application, which is how his information was received by RISE. The application is a five step process - on the first page, before the "continue" button there is a disclosure regarding retention of information submitted, as displayed belowMr*** gave his authorization when he clicked "continue" to move to the nest page. Sincerely, RISE
Complaint: ***
I am rejecting this response because: Rise stated in there letter, admitting they have no record or an account in my nameAlso, Rise wants proofWell here is the proof you need on my Transunion reportPlease note: This is a hard inquiry not softWhether
its hard or soft, it was still an unauthorized inquiry made under my name and informationAlso, I called Rise weeks ago and was told they don't remove inquiriesSo why the back and forth and information. Remove ASAP or I will contact my attorney!
Regards,
*** ***
Dear Ms***, As it is not clear to us that Ms*** is fully authorized on Mr***' account, we are responding directly to Mr*** via the email address we have on record. Sincerely, RISE
Complaint: ***
I am rejecting this response because: I cannot access the contract I signed, they did not provide a copy to Revdex.com. I would never have clicked and accepted if it had showed or intended to take pmts a month, I simply cannot afford it. They took a pmt on the 10th and and 18th. Not even days apart. I have a major pmt due on 15th of ea mo. I can only only do the payment plan of one payment a month of less than 280.00. I had left in the account to tide me over til February and that is gone alreadyThey took pmts in two months. I tried to priint the contract the day I signed up with it, and nothing prints out but their logoI have copies of everything they have emailed me, if the Revdex.com Would like to see more, but no contract or proof except disappearing money at a rapid rate. Regards
*** ***