Dear Ms***, Credit inquiries are made to assist a creditor with making a credit decision. Whether or not credit is approved is not related to whether an inquiry stays on a consumer's credit record. RISE has previously provided Mr*** with information regarding the denial of his applicationAccording to the Fair Credit Reporting Act, a consumer reporting agency may furnish a consumer report (which creates a hard inquiry) to a person (company) which it has reason to believe intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished. Note that our requesting, nor their issuing of such a report does not require the permission of the consumer. As stated in our previous response, Mr***'s permission was not required. Even though his permission was not required, because the inquiry was made for a permissible purpose, the fact that we will make credit inquiries is disclosed in our Terms and Conditions. When Mr*** submitted his application, he agreed to those Terms and Conditions. I have attached a PDF copy of his application to this response for your reference. Sincerely, RISE
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. According to our records, *** *** called RISE three times on 9/16/in regard to paying his RISE loan in full. He first called to ask for a payoff quote for 10/1/We emailed him to
advise that the amount due to pay in full on 10/would be $He called again to ask for the amount to pay in full that day, and we advised $4,He called again to ask if we would settle for $4800, but we declined that offerWe followed that call with an email confirming the amount due to pay in full that day only would be $4,965.33. Our records do not indicate that we ever quoted a payoff amount of $However, we received a check in the amount of $on 10/7/2016, and applied it to the account, leaving a remaining balance of $Due to daily interest accrual, the account balance has increased to $if paid todayA payment of $is scheduled to be processed by ACH debit to *** ***’s checking account on his next payment due date, 11/3/2016. Thank you for the opportunity to address this matter
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. RISE strives to be transparent and straightforward about available rates and terms on our website so that consumers can make an informed choiceWhen *** *** accepted his installment loan,
he was required to electronically sign 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 the loan*** *** agreed to repay his loan in biweekly installmentsIf all payments are paid in the amounts and on the dates indicted on the Loan Agreement, the loan will be paid in full on 12/22/2016. This is a simple interest loan, and as such, interest accrues daily in relation to the outstanding principal balanceThis causes the total balance to increase on a daily basis, then the balance is reduced each time a payment is applied. Each payment is applied first to the accrued interest, then to principalOver time, as the principal balance is reduced, the amount going toward interest will decrease and the amount going toward principal will increase. The balance of *** ***’ loan on 9/15/was $As disclosed in the Loan Agreement and as described above, interest has continued to accrue daily, so the loan balance as of the date of this letter is $The balance would have been lower at this point, but *** ***’ most recent payment was returned by his bank because he placed a “stop payment” order with his bankWe encourage *** *** to review his Loan Agreement (copy included with this response), and to contact our account services team at *** to make arrangements to resolve his account. Thank you for the opportunity to address this matter
Please see attached.Dear Ms***:We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.According to our records, applications were submitted in *** ***’ name, via www.risecredit.com on 6/8/and 12/21/The first application was
declinedOn 11/9/we received a credit dispute from Clarity, wherein Ms*** alleged ID fraudAt that time we sent her instructions for filing an ID theft claim, but did not receive anything back from herWhen we received the second application, our fraud department advised Ms*** that we could not proceed with the application because of the recent fraud allegation, for her own protection.On 10/25/2016, we received an ID theft affidavit from Ms***Our fraud department investigated, and were unable to validate that these applications were fraudulentSome of their key findings:The internet loan applications originated from an IP address that is associated to a Chicago, IL location, which is the same city in which Ms*** resides.The applicant provided a Driver’s license and SSN card for the first application, and paycheck stubs for both applicationsThe applicant provided information regarding her bank account, which we were able to confirm belongs to Ms***The email address associated to the RISE account is the same address that Ms*** has confirmed to be hers.Finally, in comparing handwriting from a fax cover sheet related to one of the prior applications, with handwriting from the recently submitted ID theft affidavit, we found the examples to be remarkably similarBased on the sum of these findings, our investigation concluded that these loan applications were submitted by Ms***
Dear Ms***,We sincerely apologize for the inconveniences experienced by Ms*** in relation to this technical issue. The issue is not only affecting her account, but others as well. We want to assure Ms*** that our technical team is diligently working to resolve the problem,
and we hope that she will soon be able to access her account to request refinancing. One of our agents previously offered to extend Ms***'s 5/12/payment due date to 5/26/2017. However, because the issue is still unresolved, we we are going to forgive the extended payment. Only one payment will be due on 5/26/2017.Thank you for the opportunity to address this matter.Sincerely, RISE
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. We have previously responded to a complaint received directly from *** *** in regard to a promotional email she received from RISE That email did not offer or promise a
particular interest rate or a specific amount of rate reduction It did state that “Rates decrease over time based on a history of successful, on-time payments that may qualify you for larger loans with lower rates Reduced rates vary by state”.RISE offers installment loans via the internet, and our website provides clear details about our rates, and our rate reduction program Our “What It Costs” page, ***, states that rates and terms are customized to each customer and their unique financial situation This page also provides state-specific examples of loan amounts and rates Our rate reduction program is described on ***RISE encourages you to get out of debt as soon as possible, however if you need additional credit you will see a 50% drop in your rate on future loans after making months of scheduled payments (excluding customers with starting rates of less than 75%)Even better, after additional months of payments, you will qualify for a 36% rate! **In addition, this disclosure is included at the bottom of most of our website’s pages:**For returning RISE customers, the annual percentage rate ("APR") is reduced on future loans based on payment historyIf in one loan, you make monthly payments (bi-weekly payments), the APR for your next loan will be 50% off (excluding customers with starting rates of less than 75%)And, if in multiple loans you make monthly payments (bi-weekly payments), you qualify for a 36% APR for your next loanNote that it may take two or more loans to reach 36% rate.Also, our FAQ page at *** provides this information:For returning RISE customers, we lower the rate on future loans based on payment historyIf in one loan, you make monthly payments (bi-weekly payments), the rate for your next loan will be 50% off (excluding customers with starting rates of less than 75%)And, if in multiple loans you make monthly payments (bi-weekly payments), you qualify for a 36% rate for your next loan with RISENote that it may take two or more loans to reach 36% rate.Keep in mind that RISE loans are not one size fits all and can vary based on your state and repayment termWhat we can guarantee is that we'll do our part if you do your partMaking regular payments on your loan will be rewarded!Thank you for the opportunity to address this matter
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. According to our records, we received an application for a RISE installment loan in *** ***’s name on 6/10/2016 via our website, ***The application was not approved
because the applicant did not complete certain required verification steps, so we did not issue a loan. If *** *** would like for RISE to take any further action, we request that he submits his identity theft claim (preferably with a completed and notarized ID Theft Affidavit) to *** so that we can properly investigate and validate the claim. 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 ***, and find that this resolution is satisfactory to me
Regards,
*** ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. According to our records, *** ***-*** has taken out installment loans from RISE; the first were paid in full. The active loan was originated on 5/5/2016, in the principal amount of
$When *** *** ***-*** accepted her RISE loan, she signed a Loan Agreement that clearly disclosed the Annual Percentage Rate, the Finance Charge, and the exact payment schedule for her loan. To date, we have successfully processed (of 20) scheduled paymentsHowever, the 5th payment was returned because *** ***-*** placed a stop-payment request with her bankConsequently, we have cancelled all future ACH payments. Our records do not indicate that *** ***-*** has ever contacted us about this issueHowever, we understand from this complaint that *** ***-*** is experiencing a financial hardshipWe are willing to work with her to resolve the account balance, which is $1,as of the date of this letterWe will email *** ***-*** directly to provide contact information for one of our representatives who can assist her in that regard. Thank you for the opportunity to address this matter
Complaint: ***
I am rejecting this response because: In the TV commercials here in Salinas California that I watched in June, the statement did not say, a new loan would reduce in payments, it stated that your payments would be reduced over time as you paid, that interprets to THIS LOAN, NOT A FUTURE LOAN....I'll go to my grave before I EVER accept another loan from you sharks.
Regards,
*** ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. First, we would like to apologize to *** *** for her inconvenienceShe requested that we stop automatic ACH payments on August 11, but our agent did not properly update the account status
to prevent the August 19th payment from processingWhen *** *** contacted us to let us know this happened, we requested a copy of her bank statement so we could confirm that the debit cleared her accountOnce that was confirmed, we issued a refund check via Fon 8/25/2016; tracking confirms that the check was delivered on 8/26/In addition, we will provide appropriate coaching to the agent involved. Thank you for the opportunity to address this matter
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. According to our records, *** *** accepted a RISE installment loan on 2/17/in the principal amount of $Per her Loan Agreement, she agreed to repay the loan in biweekly
installments, by ACH debitOur records indicate that we successfully processed the first payments as scheduled, but the 4th payment was returned due to a stop paymentWe cancelled future ACH transactions. On 4/18/2016, we received an email from *** *** advising that she would be filing bankruptcy on 4/22/In response, we put all collection activity on hold for daysOn 4/28/2016, we received correspondence advising that *** *** was working with a debt consolidation companyOnce we confirmed that no bankruptcy had been filed, we updated the account status accordinglyHowever, we did not resume collection activity, as we were allowing time for the debt consolidation company to provide a repayment proposalWe never received a proposalOn 5/24/2016, we received an email from *** ***, advising that she is no longer working with the debt consolidation company, and now wants to work out a settlement with RISE directlyOn 5/27/we offered to accept $as settlement in full, and *** *** agreed to pay the settlement in payments of $530.00, on 6/1/and 6/15/2016. The first settlement payment was processed as agreedHowever, on 6/3/2016, *** *** called to advise that she would not be able to make the final settlement payment, and asked to re-negotiate the settlementOur agents advised that if she cannot keep this agreement, it will expire, but she could then attempt to work out a new agreementOn 6/9/2016, *** *** sent an email advising that she would be filing bankruptcyAgain, we suspended collection activity pending her filing, which never took placeThe account was charged off on 7/19/in the amount of $5140.15. On 8/7/2016, *** *** called again to ask for a settlement offerOur agent informed her that the account had been charged off, but we could offer a settlement of $We appreciate *** ***’ attempt to repay at least a portion of her debtTherefore, we have reconsidered our position and will extend a final settlement offer of $as settlement in full. If necessary, the amount can be paid in installmentsIf *** *** wishes to accept this settlement, and/or discuss an installment schedule, we ask that she sends an email to RISE at this address no later than 8/26/2016: *** Thank you for the opportunity to address this matter
RISE *** *** *** *** *** *** *** ***December 28, 2017Revdex.com of Central, Coastal, Southwest Texas and the Permian BasinAttn: *** *** ** ***
***
*** ** ***RE: Revdex.com Complaint ID *** * *** ***Dear Ms***,We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.RISE strives to be transparent and straightforward about our rates and terms by providing extensive information on theRISE website to help consumers make an informed choiceMs*** may review that information on here:https://***/how-online-loans-work (select “***”).Before accepting funds, customers must sign a Line of Credit Disclosure and Account Agreement, which describes all thepertinent terms of their account, including how periodic payments are calculated, and how payments will be applied.Ms*** may access her Line of Credit Disclosure and Account Agreement at any time by logging into her account at***.Per the Account Agreement, we will apply all payments we receive in the following order: (1) to any past due interest,(2) to any past due principal, (3) to current billed interest, (4) to current billed principal, (5) to unbilled principal and (6)to accrued but unbilled interest.On 12/15/17, we issued a billing statement indicating that a payment of $was due by 12/29/We receivedand applied a payment of $on 12/18/as follows, in accordance with the Account Agreement: $to (3)current billed interest, $to (4) current billed principal, and $to (5) unbilled principalHowever, this paymentwas returned due to a “stop payment” order.For future reference, if Ms*** would like to make a principal-only payment, she may do so one of two ways: payan additional amount along with/on the same day as her regular payment; or, in a situation where the regular paymentwas paid before the due date, she may make an additional payment at any time before her next billing statement isgenerated, which is what she did in November.Thank you for the opportunity to address this matter.Sincerely,RISE
Complaint: ***
I am rejecting this response because: The email that was received from Rise to help me resolve the account was the same information I was given over the phoneIn addition to the unclear email I receivedI was also told that I would no longer be charged due to my account being charged off before my next payment was dueThe payment was still put throughI specifically spoke with a customer service agent that told me that "No, your account will not be charged, because it will be charged off." At this point my account will be sold to a collection agency, which I am aware ofThey have asked if I would like to resolve my account through them, but at this point it will be shown as a charge off and making payments through Rise after the fact would make no senseIt would be best to deal directly with the collections agency that my information will be sold toI did also respond to the most recent email sent to me explaining that my account was charged even after I was told it would not beI also called and spoke to customer service and was told I would just need to wait and see if it would clear my accountIt did not as I have been trying to improve my financial situation, but at the moment I do not have a positive balance in my bank account
Regards,
*** ***
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,
*** ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. *** *** did request that we cancel future ACH payments on 7/30/2016, but our agent did not update the account correctly, causing the 8/22/payment to process by ACH as originally
scheduledThis error was compounded when payments were double-processed on that date due to a system problem. We spoke with *** ***’s bank on 8/23/2016, and their agent advised that the 2nd /duplicate payment would be rejected (not paid) and no fees would be assessedWe can confirm that a refund check for the other payment, in the amount of $187.29, was mailed to *** *** on 8/31/We would have refunded the payment by ACH, but *** *** advised us that she was closing her bank account. We sincerely apologize for *** ***’s negative experienceIf her concerns have not been fully addressed, or if she is still unable to access her account online, we ask that she send an email to *** so that we may assist her further
Dear Ms***,Please be advised that the attached response was emailed to your offices via *** on 2/22/2018, because we were unable to upload it via the website portal at that time. We had requested that you attach the response to the complaint record. Please extend our apologies to Ms*** for the delay.Sincerely, RISE
Complaint: ***
I am rejecting this response because:The response doesn't not accurately describe the situationI logged in to the website the same day I received the email, and there was no offer anywhere that I could seeIt appeared the website may have been glitching, as there was ano error messageI called in, and was told to wait until Saturday (a few days later), and that it would the definitely be available to meI waited and logged in there, and still nothing, so I called again, and was then told a different story (rather than being told specifically when it would be available, as with the first time, I was told there was no way to tell when So it is not my fault that I didn't sign up the day of the emailThere was some type of issue on the company's end and did what I was instructed to do, only to be told later I basically shouldn't have done what I was told to doAnd again, this response offers no solution, and and again seems as if noone in the company has any power or controlWho administers this algorithm? There's noone in the company in a position to override it? Is your company run entirely by machines? Most likely not, so it's not anecessary issue of can't help me, but an issue of don't want to help me. I do not believe what is described is a sensible or fair business practiceTo be offered something that you can't get to, told to wait and you definitely will be able to receive it on such and such a date, and then told sorry you waited to long and there's nothing we can doI know that there are things the company can doSomeone in the company has this power or controlI would expect at the very least a lowering of the interest on my current loan as an apology for this messAnything beyond a "well we can't do anything for you and it's your fault anyway."This algorithm thing makes no sense to begin withI'm eligible for a reduced rate one day, but not after the loan has been paid off more? I'm being punished for having the loan further paid off? I will not accept any response from the company that does not include actually doing something for me to make up for this.
Regards,
*** ***
Dear Ms***, Credit inquiries are made to assist a creditor with making a credit decision. Whether or not credit is approved is not related to whether an inquiry stays on a consumer's credit record. RISE has previously provided Mr*** with information regarding the denial of his applicationAccording to the Fair Credit Reporting Act, a consumer reporting agency may furnish a consumer report (which creates a hard inquiry) to a person (company) which it has reason to believe intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished. Note that our requesting, nor their issuing of such a report does not require the permission of the consumer. As stated in our previous response, Mr***'s permission was not required. Even though his permission was not required, because the inquiry was made for a permissible purpose, the fact that we will make credit inquiries is disclosed in our Terms and Conditions. When Mr*** submitted his application, he agreed to those Terms and Conditions. I have attached a PDF copy of his application to this response for your reference. Sincerely, RISE
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. According to our records, *** *** called RISE three times on 9/16/in regard to paying his RISE loan in full. He first called to ask for a payoff quote for 10/1/We emailed him to
advise that the amount due to pay in full on 10/would be $He called again to ask for the amount to pay in full that day, and we advised $4,He called again to ask if we would settle for $4800, but we declined that offerWe followed that call with an email confirming the amount due to pay in full that day only would be $4,965.33. Our records do not indicate that we ever quoted a payoff amount of $However, we received a check in the amount of $on 10/7/2016, and applied it to the account, leaving a remaining balance of $Due to daily interest accrual, the account balance has increased to $if paid todayA payment of $is scheduled to be processed by ACH debit to *** ***’s checking account on his next payment due date, 11/3/2016. Thank you for the opportunity to address this matter
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. RISE strives to be transparent and straightforward about available rates and terms on our website so that consumers can make an informed choiceWhen *** *** accepted his installment loan,
he was required to electronically sign 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 the loan*** *** agreed to repay his loan in biweekly installmentsIf all payments are paid in the amounts and on the dates indicted on the Loan Agreement, the loan will be paid in full on 12/22/2016. This is a simple interest loan, and as such, interest accrues daily in relation to the outstanding principal balanceThis causes the total balance to increase on a daily basis, then the balance is reduced each time a payment is applied. Each payment is applied first to the accrued interest, then to principalOver time, as the principal balance is reduced, the amount going toward interest will decrease and the amount going toward principal will increase. The balance of *** ***’ loan on 9/15/was $As disclosed in the Loan Agreement and as described above, interest has continued to accrue daily, so the loan balance as of the date of this letter is $The balance would have been lower at this point, but *** ***’ most recent payment was returned by his bank because he placed a “stop payment” order with his bankWe encourage *** *** to review his Loan Agreement (copy included with this response), and to contact our account services team at *** to make arrangements to resolve his account. Thank you for the opportunity to address this matter
Please see attached.Dear Ms***:We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.According to our records, applications were submitted in *** ***’ name, via www.risecredit.com on 6/8/and 12/21/The first application was
declinedOn 11/9/we received a credit dispute from Clarity, wherein Ms*** alleged ID fraudAt that time we sent her instructions for filing an ID theft claim, but did not receive anything back from herWhen we received the second application, our fraud department advised Ms*** that we could not proceed with the application because of the recent fraud allegation, for her own protection.On 10/25/2016, we received an ID theft affidavit from Ms***Our fraud department investigated, and were unable to validate that these applications were fraudulentSome of their key findings:The internet loan applications originated from an IP address that is associated to a Chicago, IL location, which is the same city in which Ms*** resides.The applicant provided a Driver’s license and SSN card for the first application, and paycheck stubs for both applicationsThe applicant provided information regarding her bank account, which we were able to confirm belongs to Ms***The email address associated to the RISE account is the same address that Ms*** has confirmed to be hers.Finally, in comparing handwriting from a fax cover sheet related to one of the prior applications, with handwriting from the recently submitted ID theft affidavit, we found the examples to be remarkably similarBased on the sum of these findings, our investigation concluded that these loan applications were submitted by Ms***
Dear Ms***,We sincerely apologize for the inconveniences experienced by Ms*** in relation to this technical issue. The issue is not only affecting her account, but others as well. We want to assure Ms*** that our technical team is diligently working to resolve the problem,
and we hope that she will soon be able to access her account to request refinancing. One of our agents previously offered to extend Ms***'s 5/12/payment due date to 5/26/2017. However, because the issue is still unresolved, we we are going to forgive the extended payment. Only one payment will be due on 5/26/2017.Thank you for the opportunity to address this matter.Sincerely, RISE
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. We have previously responded to a complaint received directly from *** *** in regard to a promotional email she received from RISE That email did not offer or promise a
particular interest rate or a specific amount of rate reduction It did state that “Rates decrease over time based on a history of successful, on-time payments that may qualify you for larger loans with lower rates Reduced rates vary by state”.RISE offers installment loans via the internet, and our website provides clear details about our rates, and our rate reduction program Our “What It Costs” page, ***, states that rates and terms are customized to each customer and their unique financial situation This page also provides state-specific examples of loan amounts and rates Our rate reduction program is described on ***RISE encourages you to get out of debt as soon as possible, however if you need additional credit you will see a 50% drop in your rate on future loans after making months of scheduled payments (excluding customers with starting rates of less than 75%)Even better, after additional months of payments, you will qualify for a 36% rate! **In addition, this disclosure is included at the bottom of most of our website’s pages:**For returning RISE customers, the annual percentage rate ("APR") is reduced on future loans based on payment historyIf in one loan, you make monthly payments (bi-weekly payments), the APR for your next loan will be 50% off (excluding customers with starting rates of less than 75%)And, if in multiple loans you make monthly payments (bi-weekly payments), you qualify for a 36% APR for your next loanNote that it may take two or more loans to reach 36% rate.Also, our FAQ page at *** provides this information:For returning RISE customers, we lower the rate on future loans based on payment historyIf in one loan, you make monthly payments (bi-weekly payments), the rate for your next loan will be 50% off (excluding customers with starting rates of less than 75%)And, if in multiple loans you make monthly payments (bi-weekly payments), you qualify for a 36% rate for your next loan with RISENote that it may take two or more loans to reach 36% rate.Keep in mind that RISE loans are not one size fits all and can vary based on your state and repayment termWhat we can guarantee is that we'll do our part if you do your partMaking regular payments on your loan will be rewarded!Thank you for the opportunity to address this matter
Dear Ms***, We are still reviewing Ms*** complaint, and expect to provide our full response on 3/23/2018. We appreciate your patience.Sincerely, RISE
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. According to our records, we received an application for a RISE installment loan in *** ***’s name on 6/10/2016 via our website, ***The application was not approved
because the applicant did not complete certain required verification steps, so we did not issue a loan. If *** *** would like for RISE to take any further action, we request that he submits his identity theft claim (preferably with a completed and notarized ID Theft Affidavit) to *** so that we can properly investigate and validate the claim. 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 ***, and find that this resolution is satisfactory to me
Regards,
*** ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. According to our records, *** ***-*** has taken out installment loans from RISE; the first were paid in full. The active loan was originated on 5/5/2016, in the principal amount of
$When *** *** ***-*** accepted her RISE loan, she signed a Loan Agreement that clearly disclosed the Annual Percentage Rate, the Finance Charge, and the exact payment schedule for her loan. To date, we have successfully processed (of 20) scheduled paymentsHowever, the 5th payment was returned because *** ***-*** placed a stop-payment request with her bankConsequently, we have cancelled all future ACH payments. Our records do not indicate that *** ***-*** has ever contacted us about this issueHowever, we understand from this complaint that *** ***-*** is experiencing a financial hardshipWe are willing to work with her to resolve the account balance, which is $1,as of the date of this letterWe will email *** ***-*** directly to provide contact information for one of our representatives who can assist her in that regard. Thank you for the opportunity to address this matter
Complaint: ***
I am rejecting this response because: In the TV commercials here in Salinas California that I watched in June, the statement did not say, a new loan would reduce in payments, it stated that your payments would be reduced over time as you paid, that interprets to THIS LOAN, NOT A FUTURE LOAN....I'll go to my grave before I EVER accept another loan from you sharks.
Regards,
*** ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. First, we would like to apologize to *** *** for her inconvenienceShe requested that we stop automatic ACH payments on August 11, but our agent did not properly update the account status
to prevent the August 19th payment from processingWhen *** *** contacted us to let us know this happened, we requested a copy of her bank statement so we could confirm that the debit cleared her accountOnce that was confirmed, we issued a refund check via Fon 8/25/2016; tracking confirms that the check was delivered on 8/26/In addition, we will provide appropriate coaching to the agent involved. Thank you for the opportunity to address this matter
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. According to our records, *** *** accepted a RISE installment loan on 2/17/in the principal amount of $Per her Loan Agreement, she agreed to repay the loan in biweekly
installments, by ACH debitOur records indicate that we successfully processed the first payments as scheduled, but the 4th payment was returned due to a stop paymentWe cancelled future ACH transactions. On 4/18/2016, we received an email from *** *** advising that she would be filing bankruptcy on 4/22/In response, we put all collection activity on hold for daysOn 4/28/2016, we received correspondence advising that *** *** was working with a debt consolidation companyOnce we confirmed that no bankruptcy had been filed, we updated the account status accordinglyHowever, we did not resume collection activity, as we were allowing time for the debt consolidation company to provide a repayment proposalWe never received a proposalOn 5/24/2016, we received an email from *** ***, advising that she is no longer working with the debt consolidation company, and now wants to work out a settlement with RISE directlyOn 5/27/we offered to accept $as settlement in full, and *** *** agreed to pay the settlement in payments of $530.00, on 6/1/and 6/15/2016. The first settlement payment was processed as agreedHowever, on 6/3/2016, *** *** called to advise that she would not be able to make the final settlement payment, and asked to re-negotiate the settlementOur agents advised that if she cannot keep this agreement, it will expire, but she could then attempt to work out a new agreementOn 6/9/2016, *** *** sent an email advising that she would be filing bankruptcyAgain, we suspended collection activity pending her filing, which never took placeThe account was charged off on 7/19/in the amount of $5140.15. On 8/7/2016, *** *** called again to ask for a settlement offerOur agent informed her that the account had been charged off, but we could offer a settlement of $We appreciate *** ***’ attempt to repay at least a portion of her debtTherefore, we have reconsidered our position and will extend a final settlement offer of $as settlement in full. If necessary, the amount can be paid in installmentsIf *** *** wishes to accept this settlement, and/or discuss an installment schedule, we ask that she sends an email to RISE at this address no later than 8/26/2016: *** Thank you for the opportunity to address this matter
RISE *** *** *** *** *** *** *** ***December 28, 2017Revdex.com of Central, Coastal, Southwest Texas and the Permian BasinAttn: *** *** ** ***
***
*** ** ***RE: Revdex.com Complaint ID *** * *** ***Dear Ms***,We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.RISE strives to be transparent and straightforward about our rates and terms by providing extensive information on theRISE website to help consumers make an informed choiceMs*** may review that information on here:https://***/how-online-loans-work (select “***”).Before accepting funds, customers must sign a Line of Credit Disclosure and Account Agreement, which describes all thepertinent terms of their account, including how periodic payments are calculated, and how payments will be applied.Ms*** may access her Line of Credit Disclosure and Account Agreement at any time by logging into her account at***.Per the Account Agreement, we will apply all payments we receive in the following order: (1) to any past due interest,(2) to any past due principal, (3) to current billed interest, (4) to current billed principal, (5) to unbilled principal and (6)to accrued but unbilled interest.On 12/15/17, we issued a billing statement indicating that a payment of $was due by 12/29/We receivedand applied a payment of $on 12/18/as follows, in accordance with the Account Agreement: $to (3)current billed interest, $to (4) current billed principal, and $to (5) unbilled principalHowever, this paymentwas returned due to a “stop payment” order.For future reference, if Ms*** would like to make a principal-only payment, she may do so one of two ways: payan additional amount along with/on the same day as her regular payment; or, in a situation where the regular paymentwas paid before the due date, she may make an additional payment at any time before her next billing statement isgenerated, which is what she did in November.Thank you for the opportunity to address this matter.Sincerely,RISE
Complaint: ***
I am rejecting this response because: The email that was received from Rise to help me resolve the account was the same information I was given over the phoneIn addition to the unclear email I receivedI was also told that I would no longer be charged due to my account being charged off before my next payment was dueThe payment was still put throughI specifically spoke with a customer service agent that told me that "No, your account will not be charged, because it will be charged off." At this point my account will be sold to a collection agency, which I am aware ofThey have asked if I would like to resolve my account through them, but at this point it will be shown as a charge off and making payments through Rise after the fact would make no senseIt would be best to deal directly with the collections agency that my information will be sold toI did also respond to the most recent email sent to me explaining that my account was charged even after I was told it would not beI also called and spoke to customer service and was told I would just need to wait and see if it would clear my accountIt did not as I have been trying to improve my financial situation, but at the moment I do not have a positive balance in my bank account
Regards,
*** ***
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,
*** ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. *** *** did request that we cancel future ACH payments on 7/30/2016, but our agent did not update the account correctly, causing the 8/22/payment to process by ACH as originally
scheduledThis error was compounded when payments were double-processed on that date due to a system problem. We spoke with *** ***’s bank on 8/23/2016, and their agent advised that the 2nd /duplicate payment would be rejected (not paid) and no fees would be assessedWe can confirm that a refund check for the other payment, in the amount of $187.29, was mailed to *** *** on 8/31/We would have refunded the payment by ACH, but *** *** advised us that she was closing her bank account. We sincerely apologize for *** ***’s negative experienceIf her concerns have not been fully addressed, or if she is still unable to access her account online, we ask that she send an email to *** so that we may assist her further
Please see attached
Dear Ms***,Please be advised that the attached response was emailed to your offices via *** on 2/22/2018, because we were unable to upload it via the website portal at that time. We had requested that you attach the response to the complaint record. Please extend our apologies to Ms*** for the delay.Sincerely, RISE
Complaint: ***
I am rejecting this response because:The response doesn't not accurately describe the situationI logged in to the website the same day I received the email, and there was no offer anywhere that I could seeIt appeared the website may have been glitching, as there was ano error messageI called in, and was told to wait until Saturday (a few days later), and that it would the definitely be available to meI waited and logged in there, and still nothing, so I called again, and was then told a different story (rather than being told specifically when it would be available, as with the first time, I was told there was no way to tell when So it is not my fault that I didn't sign up the day of the emailThere was some type of issue on the company's end and did what I was instructed to do, only to be told later I basically shouldn't have done what I was told to doAnd again, this response offers no solution, and and again seems as if noone in the company has any power or controlWho administers this algorithm? There's noone in the company in a position to override it? Is your company run entirely by machines? Most likely not, so it's not anecessary issue of can't help me, but an issue of don't want to help me. I do not believe what is described is a sensible or fair business practiceTo be offered something that you can't get to, told to wait and you definitely will be able to receive it on such and such a date, and then told sorry you waited to long and there's nothing we can doI know that there are things the company can doSomeone in the company has this power or controlI would expect at the very least a lowering of the interest on my current loan as an apology for this messAnything beyond a "well we can't do anything for you and it's your fault anyway."This algorithm thing makes no sense to begin withI'm eligible for a reduced rate one day, but not after the loan has been paid off more? I'm being punished for having the loan further paid off? I will not accept any response from the company that does not include actually doing something for me to make up for this.
Regards,
*** ***