We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.According to our records, *** ***’ loan was originated on 1/4/in the principal amount of $1200, and her payments are due semi-monthly on the 15th and last days of each month as
indicated in her Loan Agreement When *** *** accepted the loan, she authorized the lender to process her payments by ACH debit on the due datesOn the evening of 4/14/2016, a scheduled payment was processed for the 4/15/due date in accordance with the Loan AgreementIn addition, a payment that was previously returned due to insufficient funds was re-presented to *** ***’ account, also in accordance with her Loan Agreement and ACH authorization.On 4/14/2016, *** *** answered an outbound collection callDuring the call, she stated that she was unable to pay any amount until 4/20/ Our agent correctly informed *** *** that her account would charge off after 4:pm if no payment was receivedHowever, the agent failed to recognize that two payments were scheduled to process by automatic ACH debit that dayInstead, the agent discussed the consequences of charge-off and offered a pay-in-full settlement to *** ***, which *** *** declined.*** *** is responsible for knowing when her payments are due, and did not actually ask to stop the processing of any scheduled paymentRegardless, we see that the conversation with our agent did lead to confusion, and set an incorrect expectation of the account status that was not completely accurate Prior to our receipt of this complaint, *** *** spoke with an agent who agreed to refund the $payment, and that refund was processed on 4/21/ During that call, *** *** stated that she had no dispute with us retaining the other payment, as she had previously agreed to make a payment on 4/20/2016.We processed another ACH payment on 4/30/2016, per the Loan Agreement*** *** stopped payment with her bank, so that payment has been returnedAs a result, we have cancelled all future ACH debit transactions *** ***’ account is days past due as of the date of this letter, and will be charged off if it reaches days past dueIf *** *** would like to make a payment by debit card, she may call our account services team at *** to arrange a payment.Thank you for the opportunity to address this matter
Rise response leaves out info and excludes conververstion in which their company stated the account would be considered in good standing and not past dueAlso falsely claims loan was accepted before they transfered fundsI request they immediately contact *** *** and have this item removed as promised as their dishonest behavior has damaged my credit and caused personal stress to me Complaint: ***
I am rejecting this response because:
Regards,
*** ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. RISE Credit of California, LLC d/b/a RISE operates in compliance with all applicable state and federal lawsWe strive to be transparent and straightforward about our product, our rates, and
terms so that consumers can make an informed choiceWhen *** *** received his RISE 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 loanAlthough payment schedules cannot be changed once set, RISE does provide courtesy extensions on a payment by payment basis. 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 principalOver time, as the principal balance is reduced, the amount going toward interest will decrease and the amount going toward principal will increaseAny amount prepaid will have the effect of reducing the amount of interest accrued over time. According to our records, *** *** submitted a large payment by money order which posted to his account on 8/29/As of the date of this letter, his remaining balance is $34.51. Thank you for the opportunity to address this matter
Dear Ms***, Again, we are sorry for the inconvenience, but your account is not currently eligible for refinancing. It may become eligible again when all the conditions are met, and you are welcome to reapply at that time. Sincerely, RISE
At this point it is unclear to us what *** *** is asserting. If she is alleging that RISE does not exist, that is inaccurate. RISE gave her loan proceeds, and has received payments toward the loan from her. We have fully responded to her concerns, and do not have anything to add to our previous response. If *** *** would like to discuss her account, she may call customer support at ***. If she would like to visit our website, she may follow this link ***. Thank you, RISE
Please see attached.Dear Ms***:We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.Unfortunately, Mr***’s original application expired because we were experiencing a technical issue with his loan applicationHowever, our records indicate that Mr
*** worked directly with our escalation team on 12/and 12/to solve this problem, and his loan was issued on 12/20/2016.We sincerely apologize for the difficulties Mr*** encountered during his application process, and are pleased that we were able resolve the issue.Thank you for the opportunity to address this matterSincerely,RISE
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.According to our records, *** *** received her first RISE installment loan on 11/13/That loan was paid in full when she refinanced it on 4/14/A new loan in the principal amount
of $2,was originated on that date, the proceeds of which paid the balance of the previous loan, and provided $of additional principal directly to *** ***Per the Loan Agreement, *** *** agreed to repay this loan in semi-monthly installments, starting on 4/30/ *** *** may log into her account at www.risecredit.com to view her Loan Agreement and payment history at any timeWe are including a copy of the Loan Agreement with our response, for her convenience.Our records indicate that *** *** called us on 6/18/to provide a new checking account number for us to draft her ACH payments fromShe also emailed us on 6/20/to ask if we have a license in Alabama She may view our Alabama Consumer Credit License on our website via this link: *** ***From this page, she must select “Alabama” for state-specific information, including a copy of our license.Thank you for the opportunity to address this matter
We are in receipt of the referenced complaint, and appreciate the opportunity to respond.We first want to assure Ms*** that RISE issues loans in compliance with applicable state and federal laws.According to our records, someone has applied for and received several installment loans in the name
of *** via the RISE website (***), going back as far as June, All of the previous loans werepaid in full; however, the most recent loan was charged off in the amount of $after it reached dayspast dueThis debt was sold to National Credit Adjusters, LLC on 9/21/All of the loans’ proceeds weredeposited by ACH to a Delta Community Credit Union account ending with ***.On 12/20/2017, we received a call from Ms***, claiming that she had discovered the charged off loan on hercredit report, but the loan is not hersOur agent advised her to submit a notarized identity theft affidavit so thatwe can proceed with an investigation of her identity theft claim, and emailed her a blank affidavit form.If Ms*** would like us to continue our investigation of her claim, we again request that she emails a notarizedidentity theft affidavit, or a police report, along with a copy of her photo ID, to: ***Uponreceipt, we will promptly proceed with an investigation, and will take appropriate action upon validation of theclaim.Thank you for the opportunity to address this matter.Sincerely
Dear Ms***,Please find attached our additional response for the referenced complaint (***) We would appreciate it if you would upload this to the complaint
file.Thank you, *** *** *** *** ***P: *** *** | Elevate.com*** *** *** *** ***Fort Worth, TX ***
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.First, we would like to extend our condolences to *** ***We are truly sorry for her loss.According to our records, *** *** called RISE on 1/6/to settle her accountOur agent offered to
settle the account for $850.00, and *** *** agreedThe agent processed a debit card payment, but inadvertently entered the payment in *** ***’s account record as an ACH payment rather than a debit card paymentThis caused the payment to also process as an ACH withdrawal to the checking account we had on fileThe reason that we had access to the checking account is that when the loan was originated, *** *** provided the checking account information to receive a deposit of loan funds, and also gave her authorization for us to withdraw her payments by ACH.When *** *** brought this to our attention on 1/7/2016, our agent requested that she provide a bank statement so that we could process a refundThe reason for this request is so we can confirm that the payment cleared her checking account, and would not be returned to us It also provides validation of the amount of any fees incurred, for our records.We sincerely apologize for the payment processing error, and regret the inconvenience that Ms. Pauley experienced during an already difficult time We have waived the balance of her account, so that her RISE loan will be reported to the credit bureaus as “paid in full”, rather than “settled for less than the full balance”.Thank you for the opportunity to address this matter
Dear Ms***,
We are in receipt of Mr***'s
complaint, and appreciate the opportunity to respond.
First, we would like
to apologize for misinformation given to Mr*** regarding his request
to delete his draft application. Although it is accurate that we are
required by
the Equal Credit Opportunity Act to retain information submitted in relation to
applications for credit, Mr*** did not submit a completed
application, so we are not bound by that legal requirement in this situation.
However, Mr*** did give us his authorization to retain such information
when he submitted the first page of the application, which includes the
following statement: "By entering my information on this application, I understand that
I am authorizing RISE to retain a copy of all such information." We will address this with our agents to be
sure they more clearly understand the legal requirement, and the applicable policy
In
accordance with this disclosure, we will not delete the information. We will certainly honor Mr***’s request for
no further contact, and have already taken appropriate steps in that regard. In addition, we want to assure Mr***
that we are committed to keeping his personal information safeHe may review the Security section of our
website to learn more: https://www.risecredit.com/security
Thank you for the opportunity to address this matter
Sincerely,
RISE
We are in receipt of the referenced complaint and appreciate the opportunity to respond.According to our records, Ms. [redacted] has taken two RISE installment loans. Each time she accepted a loan, she wasrequired to electronically sign a Loan Agreement that included a detailed payment schedule.The...
first loan, in the principal amount of $400, was funded on 10/1/2016. Ms. [redacted] agreed to repay this loan in7 monthly installments, starting on 11/1/2016. Our records indicate that we posted the first 3 payments(11/1/2016, 12/1/2016, and 1/1/2017), as scheduled per the Loan Agreement. On 1/5/2017, Ms. Baileyrefinanced this loan. Refinancing creates a new loan, and pays off the existing loan.The new loan, in the principal amount of $1000, was applied to pay off the balance of the first loan ($306.85), andthe remaining principal ($693.15) was sent to Ms. [redacted] by ACH deposit on 1/5/17. Per the new LoanAgreement, Ms. [redacted] agreed to repay in 11 monthly payments, starting on 1/20/2017. Unfortunately, we arenot able to change the contractual due dates for Ms. [redacted] current loan. However, she may make her paymentsby debit card on the first of each month if she prefers (call customer support at 866-580-1226). If she chooses todo so, we must advise that her account will be considered technically past due, so she may receive some calls.Ms. [redacted] may review her Loan Agreement online at any time by logging into her account at www.risecredit.com.Sincerely,RISE
Complaint: [redacted]
I am rejecting this response because:There is no reason to charge 239.34 per cent interest rate. I have paid off this loan and am still waiting for a response from the State of [redacted], consumer protection. If this state allows a company to charge up to 400 percent interest, things need to change. It is obvious that you are offering loans to individuals who cannot get one elsewhere, which is fine, but please be nice and ask them to bend over before you totally screw them. This is unethical, no matter what agreement is signed or how much each state lets you screw their residents.
Regards,
[redacted]
Complaint: [redacted]
I am rejecting this response because:I neglect to agree with the company’s terms because when I called per the letter to ask for a representative, I made contact with Ms. [redacted]). Ms. [redacted] and I conversation had to be cut short, because she could not find the letter that RISE sent to Revdex.com. The last thing I mentioned before the conversation ended was that I would like to begin making payments September 5, 2017, and Ms. [redacted] stated that the payments would be approximately $358.00 per month. Ms. [redacted] said she would give me a call back before 11pm that night of 8/14/17 or on 8/15/17. We communicated again on 8/15/17, and elaborated again on the fact that I am unemployed, and we have canceled the ACH withdrawal from my bank account. Ms. [redacted] and I apparently had some mis-communication as to my agreement date to begin this loan. Ms. [redacted] stated that I did not agree to begin monthly payments on 9/5/17 and per a recording she had of me during our phone conversation 8/14/17 she said I canceled the agreement. I asked Ms. [redacted] could I hear the communication, because I did state I wanted to begin making payments 9/5/17. Ms. [redacted] placed me on hold, came back and said she was not able to provide me that information, and that team support of RISE will review the recording and get back in touch with me via email. I told Ms. [redacted] I needed to hear that communication as well, it is not fair for one side to hear a thing and make a determination. Ms. [redacted] said that maybe there was some miscommunication in our conversation, which I agree with, but one thing for sure; I do know that I stated I could begin making payments on 9/5/17. Ms. [redacted] stated that the interest will continue, which I was not happy with, and as I explained to Ms. [redacted], when I make a payment every month, it will appear as if nothing was ever paid because the interest is steadily accruing daily. Ms. [redacted] stated because I was not terminated the interest will not be stopped. I also made Ms. [redacted] aware that my payments may not be as quoted each month or on time, because I am unemployed, but I will do the best I can. I am looking for work and am hoping that I will be able to receive unemployment compensation to help me with these payments due. Ms. [redacted] stated that if my payments are 60 days late, accounts department will be in contact with me. I even mentioned to Ms. [redacted], RISE need to evaluate their policy, because some people who are terminated have been due to insubordination or lousy employee performance, yet that person can get the benefits of paying back a loan with help and no interest to where a person who left because they had no choice on good terms is not helped. Nonetheless, It must be realized that I want to pay this loan back, but RISE must also realize that I am unemployed and that the interest is not helping me at all, which will make it harder for me to catch up, but it will be paid, if it is just $50.00 a month that I can only afford, I will pay it, but I am hoping that I can pay the $358.00 or more if I have it, a month.
Regards,
[redacted]
RISE [redacted]
[redacted]October 2, 2017Revdex.com of Central, Coastal, Southwest Texas and the Permian BasinAttn: [redacted]
[redacted]Austin, TX [redacted]RE: Revdex.com Complaint ID [redacted] [redacted]Dear Ms. [redacted],We are in receipt of the referenced...
complaint, and appreciate the opportunity to respond.Our records indicate that Ms. [redacted] received a RISE installment loan in the principal amount of $1250 on5/17/2016. However, Ms. [redacted]’s loan was charged off on 9/17/2016, and sold to National Credit Adjusters, LLC(NCA) on 11/1/2016.As RISE no longer owns or services the account, we have not made any attempt to contact Ms. [redacted] for about ayear. For further assistance with this account, we recommend that Ms. [redacted] contacts NCA by telephone at[redacted] or by mail: National Credit Adjusters, LLC, [redacted] [redacted].Thank you for the opportunity to address this matter.Sincerely,RISE
Dear Ms. [redacted]:According to our records, Ms. [redacted] received a RISE loan in the principal amount of $2600 on 10/15/2015, and agreed torepay the loan in 16 monthly installments of $378.46 on the 3rd of each month. On 6/25/2016 we received an email fromMs. [redacted], in which she directed us to stop...
processing payments by ACH because she planned to repay the debt via a debtmanagement program with Money Management International (MMI). Because of the ACH revocation, no payment wasprocessed when due on 7/3/2016 (nor did we receive that payment by another method).On 7/6/2016, we received MMI’s proposed payment plan. MMI submitted monthly payments of $279 starting on 7/18/2016,through 12/13/2016. Debt management plans do not change the original Loan Agreement; a debt management plan is acompromised settlement. The primary effect of these plans is to prevent collection activity; when a plan is active, we do notcommunicate directly with the customer. Per our standard business practice, accounts loans are charged off when they reach60 days past due. Because the MMI payments were less than the contractual amount due, Ms. [redacted]’s account eventuallybecame 60 days past-due, and was charged off on 11/2/2016. The benefit to consumers is that this stops interest accrual.We are not obligated to advise a customer when their account is charged off. However, if the account had not been in theMMI program, we would have called Ms. [redacted] regarding her account status, and likely would have discussed charge off.On 12/16/2016, we received notification from MMI advising that Ms. [redacted] is no longer participating in the debtmanagement program. On 1/3/2017, Ms. [redacted] called RISE and advised she would be paying in full. Unfortunately, whenquoting the amount to pay in full, the agent did not account for the payments received from MMI after the charge off date,which resulted in Ms. [redacted] overpaying. When she called on 1/7/2017 to verify receipt of the payment, our agent advisedher that a refund was owed, and would be sent out by 1/20/2017. This timeframe is due to a 10 business day hold to ensurethat the payment check has cleared.In reviewing our records, we see that there was some confusion surrounding the final payment on the account, and theservice provided by our agents was inadequate. It appears that the refund was overlooked, and not actually processed until1/27/2017. In addition, when Ms. [redacted] called to follow up, multiple agents failed to recognize that the check wasprocessed later than expected and instead referred to the date the check should have been sent, as the date it was sent. Ms.Worrall did receive the overpayment refund on 2/6/2017. We sincerely apologize for the delay, and the misunderstandingsregarding the refund timeframe. We will provide appropriate coaching to the agents involved, and make sure theyunderstand how to direct a customer who wishes to further escalate an issue. We will also update credit reporting to reflectthat Ms. [redacted]’s account was paid in full after charge off.We appreciate the opportunity to address this matter.Sincerely,Rise
[redacted]
[redacted]October 6, 2017Revdex.com of Central, Coastal, Southwest Texas and the Permian BasinAttn: [redacted]
[redacted]RE: Revdex.com Complaint ID [redacted]Dear Ms. [redacted],We are in receipt of the referenced...
complaint, and appreciate the opportunity to respond.Our records indicate that Mr. [redacted]’s loan application was declined because his income was not sufficient tosupport repayment of the proposed loan. RISE takes affordability very seriously, and must validate eachapplicant’s income before final approval. The offer was made based on data we received from credit bureaus, butwe are unable to validate income before an application is actually submitted. The income that Mr. [redacted] enteredon his application was $500 per month, which would have been insufficient to make payments on a loan. Themost common RISE loan in the state of California is $2,600 (the minimum amount that we lend), with 32 bi-weeklypayments of $241.44, and an APR of 224.35%.We regret any inconvenience Mr. [redacted] may have experienced. Thank you for the opportunity to address thismatter.Sincerely,RISE
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.According to our records, *** ***’ loan was originated on 1/4/in the principal amount of $1200, and her payments are due semi-monthly on the 15th and last days of each month as
indicated in her Loan Agreement When *** *** accepted the loan, she authorized the lender to process her payments by ACH debit on the due datesOn the evening of 4/14/2016, a scheduled payment was processed for the 4/15/due date in accordance with the Loan AgreementIn addition, a payment that was previously returned due to insufficient funds was re-presented to *** ***’ account, also in accordance with her Loan Agreement and ACH authorization.On 4/14/2016, *** *** answered an outbound collection callDuring the call, she stated that she was unable to pay any amount until 4/20/ Our agent correctly informed *** *** that her account would charge off after 4:pm if no payment was receivedHowever, the agent failed to recognize that two payments were scheduled to process by automatic ACH debit that dayInstead, the agent discussed the consequences of charge-off and offered a pay-in-full settlement to *** ***, which *** *** declined.*** *** is responsible for knowing when her payments are due, and did not actually ask to stop the processing of any scheduled paymentRegardless, we see that the conversation with our agent did lead to confusion, and set an incorrect expectation of the account status that was not completely accurate Prior to our receipt of this complaint, *** *** spoke with an agent who agreed to refund the $payment, and that refund was processed on 4/21/ During that call, *** *** stated that she had no dispute with us retaining the other payment, as she had previously agreed to make a payment on 4/20/2016.We processed another ACH payment on 4/30/2016, per the Loan Agreement*** *** stopped payment with her bank, so that payment has been returnedAs a result, we have cancelled all future ACH debit transactions *** ***’ account is days past due as of the date of this letter, and will be charged off if it reaches days past dueIf *** *** would like to make a payment by debit card, she may call our account services team at *** to arrange a payment.Thank you for the opportunity to address this matter
Rise response leaves out info and excludes conververstion in which their company stated the account would be considered in good standing and not past dueAlso falsely claims loan was accepted before they transfered fundsI request they immediately contact *** *** and have this item removed as promised as their dishonest behavior has damaged my credit and caused personal stress to me Complaint: ***
I am rejecting this response because:
Regards,
*** ***
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond. RISE Credit of California, LLC d/b/a RISE operates in compliance with all applicable state and federal lawsWe strive to be transparent and straightforward about our product, our rates, and
terms so that consumers can make an informed choiceWhen *** *** received his RISE 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 loanAlthough payment schedules cannot be changed once set, RISE does provide courtesy extensions on a payment by payment basis. 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 principalOver time, as the principal balance is reduced, the amount going toward interest will decrease and the amount going toward principal will increaseAny amount prepaid will have the effect of reducing the amount of interest accrued over time. According to our records, *** *** submitted a large payment by money order which posted to his account on 8/29/As of the date of this letter, his remaining balance is $34.51. Thank you for the opportunity to address this matter
We are continuing our research into this issue, and will communicate a resolution to *** *** shortly
Dear Ms***, Again, we are sorry for the inconvenience, but your account is not currently eligible for refinancing. It may become eligible again when all the conditions are met, and you are welcome to reapply at that time. Sincerely, RISE
At this point it is unclear to us what *** *** is asserting. If she is alleging that RISE does not exist, that is inaccurate. RISE gave her loan proceeds, and has received payments toward the loan from her. We have fully responded to her concerns, and do not have anything to add to our previous response. If *** *** would like to discuss her account, she may call customer support at ***. If she would like to visit our website, she may follow this link ***. Thank you, RISE
Please see attached.Dear Ms***:We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.Unfortunately, Mr***’s original application expired because we were experiencing a technical issue with his loan applicationHowever, our records indicate that Mr
*** worked directly with our escalation team on 12/and 12/to solve this problem, and his loan was issued on 12/20/2016.We sincerely apologize for the difficulties Mr*** encountered during his application process, and are pleased that we were able resolve the issue.Thank you for the opportunity to address this matterSincerely,RISE
I do not accept this response as it (Rise Credit) preys on the low income/minoritiesI did not sign the contract
We are in receipt of the referenced consumer complaint, and appreciate the opportunity to respond.According to our records, *** *** received her first RISE installment loan on 11/13/That loan was paid in full when she refinanced it on 4/14/A new loan in the principal amount
of $2,was originated on that date, the proceeds of which paid the balance of the previous loan, and provided $of additional principal directly to *** ***Per the Loan Agreement, *** *** agreed to repay this loan in semi-monthly installments, starting on 4/30/ *** *** may log into her account at www.risecredit.com to view her Loan Agreement and payment history at any timeWe are including a copy of the Loan Agreement with our response, for her convenience.Our records indicate that *** *** called us on 6/18/to provide a new checking account number for us to draft her ACH payments fromShe also emailed us on 6/20/to ask if we have a license in Alabama She may view our Alabama Consumer Credit License on our website via this link: *** ***From this page, she must select “Alabama” for state-specific information, including a copy of our license.Thank you for the opportunity to address this matter
We are in receipt of the referenced complaint, and appreciate the opportunity to respond.We first want to assure Ms*** that RISE issues loans in compliance with applicable state and federal laws.According to our records, someone has applied for and received several installment loans in the name
of *** via the RISE website (***), going back as far as June, All of the previous loans werepaid in full; however, the most recent loan was charged off in the amount of $after it reached dayspast dueThis debt was sold to National Credit Adjusters, LLC on 9/21/All of the loans’ proceeds weredeposited by ACH to a Delta Community Credit Union account ending with ***.On 12/20/2017, we received a call from Ms***, claiming that she had discovered the charged off loan on hercredit report, but the loan is not hersOur agent advised her to submit a notarized identity theft affidavit so thatwe can proceed with an investigation of her identity theft claim, and emailed her a blank affidavit form.If Ms*** would like us to continue our investigation of her claim, we again request that she emails a notarizedidentity theft affidavit, or a police report, along with a copy of her photo ID, to: ***Uponreceipt, we will promptly proceed with an investigation, and will take appropriate action upon validation of theclaim.Thank you for the opportunity to address this matter.Sincerely
Dear Ms***,Please find attached our additional response for the referenced complaint (***) We would appreciate it if you would upload this to the complaint
file.Thank you, *** *** *** *** ***P: *** *** | Elevate.com*** *** *** *** ***Fort Worth, TX ***
We are in receipt of the above referenced complaint, and appreciate the opportunity to respond.First, we would like to extend our condolences to *** ***We are truly sorry for her loss.According to our records, *** *** called RISE on 1/6/to settle her accountOur agent offered to
settle the account for $850.00, and *** *** agreedThe agent processed a debit card payment, but inadvertently entered the payment in *** ***’s account record as an ACH payment rather than a debit card paymentThis caused the payment to also process as an ACH withdrawal to the checking account we had on fileThe reason that we had access to the checking account is that when the loan was originated, *** *** provided the checking account information to receive a deposit of loan funds, and also gave her authorization for us to withdraw her payments by ACH.When *** *** brought this to our attention on 1/7/2016, our agent requested that she provide a bank statement so that we could process a refundThe reason for this request is so we can confirm that the payment cleared her checking account, and would not be returned to us It also provides validation of the amount of any fees incurred, for our records.We sincerely apologize for the payment processing error, and regret the inconvenience that Ms. Pauley experienced during an already difficult time We have waived the balance of her account, so that her RISE loan will be reported to the credit bureaus as “paid in full”, rather than “settled for less than the full balance”.Thank you for the opportunity to address this matter
Dear Ms***,
We are in receipt of Mr***'s
complaint, and appreciate the opportunity to respond.
First, we would like
to apologize for misinformation given to Mr*** regarding his request
to delete his draft application. Although it is accurate that we are
required by
the Equal Credit Opportunity Act to retain information submitted in relation to
applications for credit, Mr*** did not submit a completed
application, so we are not bound by that legal requirement in this situation.
However, Mr*** did give us his authorization to retain such information
when he submitted the first page of the application, which includes the
following statement: "By entering my information on this application, I understand that
I am authorizing RISE to retain a copy of all such information." We will address this with our agents to be
sure they more clearly understand the legal requirement, and the applicable policy
In
accordance with this disclosure, we will not delete the information. We will certainly honor Mr***’s request for
no further contact, and have already taken appropriate steps in that regard. In addition, we want to assure Mr***
that we are committed to keeping his personal information safeHe may review the Security section of our
website to learn more: https://www.risecredit.com/security
Thank you for the opportunity to address this matter
Sincerely,
RISE
We are in receipt of the referenced complaint and appreciate the opportunity to respond.According to our records, Ms. [redacted] has taken two RISE installment loans. Each time she accepted a loan, she wasrequired to electronically sign a Loan Agreement that included a detailed payment schedule.The...
first loan, in the principal amount of $400, was funded on 10/1/2016. Ms. [redacted] agreed to repay this loan in7 monthly installments, starting on 11/1/2016. Our records indicate that we posted the first 3 payments(11/1/2016, 12/1/2016, and 1/1/2017), as scheduled per the Loan Agreement. On 1/5/2017, Ms. Baileyrefinanced this loan. Refinancing creates a new loan, and pays off the existing loan.The new loan, in the principal amount of $1000, was applied to pay off the balance of the first loan ($306.85), andthe remaining principal ($693.15) was sent to Ms. [redacted] by ACH deposit on 1/5/17. Per the new LoanAgreement, Ms. [redacted] agreed to repay in 11 monthly payments, starting on 1/20/2017. Unfortunately, we arenot able to change the contractual due dates for Ms. [redacted] current loan. However, she may make her paymentsby debit card on the first of each month if she prefers (call customer support at 866-580-1226). If she chooses todo so, we must advise that her account will be considered technically past due, so she may receive some calls.Ms. [redacted] may review her Loan Agreement online at any time by logging into her account at www.risecredit.com.Sincerely,RISE
Complaint: [redacted]
I am rejecting this response because:There is no reason to charge 239.34 per cent interest rate. I have paid off this loan and am still waiting for a response from the State of [redacted], consumer protection. If this state allows a company to charge up to 400 percent interest, things need to change. It is obvious that you are offering loans to individuals who cannot get one elsewhere, which is fine, but please be nice and ask them to bend over before you totally screw them. This is unethical, no matter what agreement is signed or how much each state lets you screw their residents.
Regards,
[redacted]
Complaint: [redacted]
I am rejecting this response because:I neglect to agree with the company’s terms because when I called per the letter to ask for a representative, I made contact with Ms. [redacted]). Ms. [redacted] and I conversation had to be cut short, because she could not find the letter that RISE sent to Revdex.com. The last thing I mentioned before the conversation ended was that I would like to begin making payments September 5, 2017, and Ms. [redacted] stated that the payments would be approximately $358.00 per month. Ms. [redacted] said she would give me a call back before 11pm that night of 8/14/17 or on 8/15/17. We communicated again on 8/15/17, and elaborated again on the fact that I am unemployed, and we have canceled the ACH withdrawal from my bank account. Ms. [redacted] and I apparently had some mis-communication as to my agreement date to begin this loan. Ms. [redacted] stated that I did not agree to begin monthly payments on 9/5/17 and per a recording she had of me during our phone conversation 8/14/17 she said I canceled the agreement. I asked Ms. [redacted] could I hear the communication, because I did state I wanted to begin making payments 9/5/17. Ms. [redacted] placed me on hold, came back and said she was not able to provide me that information, and that team support of RISE will review the recording and get back in touch with me via email. I told Ms. [redacted] I needed to hear that communication as well, it is not fair for one side to hear a thing and make a determination. Ms. [redacted] said that maybe there was some miscommunication in our conversation, which I agree with, but one thing for sure; I do know that I stated I could begin making payments on 9/5/17. Ms. [redacted] stated that the interest will continue, which I was not happy with, and as I explained to Ms. [redacted], when I make a payment every month, it will appear as if nothing was ever paid because the interest is steadily accruing daily. Ms. [redacted] stated because I was not terminated the interest will not be stopped. I also made Ms. [redacted] aware that my payments may not be as quoted each month or on time, because I am unemployed, but I will do the best I can. I am looking for work and am hoping that I will be able to receive unemployment compensation to help me with these payments due. Ms. [redacted] stated that if my payments are 60 days late, accounts department will be in contact with me. I even mentioned to Ms. [redacted], RISE need to evaluate their policy, because some people who are terminated have been due to insubordination or lousy employee performance, yet that person can get the benefits of paying back a loan with help and no interest to where a person who left because they had no choice on good terms is not helped. Nonetheless, It must be realized that I want to pay this loan back, but RISE must also realize that I am unemployed and that the interest is not helping me at all, which will make it harder for me to catch up, but it will be paid, if it is just $50.00 a month that I can only afford, I will pay it, but I am hoping that I can pay the $358.00 or more if I have it, a month.
Regards,
[redacted]
RISE [redacted]
[redacted]October 2, 2017Revdex.com of Central, Coastal, Southwest Texas and the Permian BasinAttn: [redacted]
[redacted]Austin, TX [redacted]RE: Revdex.com Complaint ID [redacted] [redacted]Dear Ms. [redacted],We are in receipt of the referenced...
complaint, and appreciate the opportunity to respond.Our records indicate that Ms. [redacted] received a RISE installment loan in the principal amount of $1250 on5/17/2016. However, Ms. [redacted]’s loan was charged off on 9/17/2016, and sold to National Credit Adjusters, LLC(NCA) on 11/1/2016.As RISE no longer owns or services the account, we have not made any attempt to contact Ms. [redacted] for about ayear. For further assistance with this account, we recommend that Ms. [redacted] contacts NCA by telephone at[redacted] or by mail: National Credit Adjusters, LLC, [redacted] [redacted].Thank you for the opportunity to address this matter.Sincerely,RISE
Dear Ms. [redacted]:According to our records, Ms. [redacted] received a RISE loan in the principal amount of $2600 on 10/15/2015, and agreed torepay the loan in 16 monthly installments of $378.46 on the 3rd of each month. On 6/25/2016 we received an email fromMs. [redacted], in which she directed us to stop...
processing payments by ACH because she planned to repay the debt via a debtmanagement program with Money Management International (MMI). Because of the ACH revocation, no payment wasprocessed when due on 7/3/2016 (nor did we receive that payment by another method).On 7/6/2016, we received MMI’s proposed payment plan. MMI submitted monthly payments of $279 starting on 7/18/2016,through 12/13/2016. Debt management plans do not change the original Loan Agreement; a debt management plan is acompromised settlement. The primary effect of these plans is to prevent collection activity; when a plan is active, we do notcommunicate directly with the customer. Per our standard business practice, accounts loans are charged off when they reach60 days past due. Because the MMI payments were less than the contractual amount due, Ms. [redacted]’s account eventuallybecame 60 days past-due, and was charged off on 11/2/2016. The benefit to consumers is that this stops interest accrual.We are not obligated to advise a customer when their account is charged off. However, if the account had not been in theMMI program, we would have called Ms. [redacted] regarding her account status, and likely would have discussed charge off.On 12/16/2016, we received notification from MMI advising that Ms. [redacted] is no longer participating in the debtmanagement program. On 1/3/2017, Ms. [redacted] called RISE and advised she would be paying in full. Unfortunately, whenquoting the amount to pay in full, the agent did not account for the payments received from MMI after the charge off date,which resulted in Ms. [redacted] overpaying. When she called on 1/7/2017 to verify receipt of the payment, our agent advisedher that a refund was owed, and would be sent out by 1/20/2017. This timeframe is due to a 10 business day hold to ensurethat the payment check has cleared.In reviewing our records, we see that there was some confusion surrounding the final payment on the account, and theservice provided by our agents was inadequate. It appears that the refund was overlooked, and not actually processed until1/27/2017. In addition, when Ms. [redacted] called to follow up, multiple agents failed to recognize that the check wasprocessed later than expected and instead referred to the date the check should have been sent, as the date it was sent. Ms.Worrall did receive the overpayment refund on 2/6/2017. We sincerely apologize for the delay, and the misunderstandingsregarding the refund timeframe. We will provide appropriate coaching to the agents involved, and make sure theyunderstand how to direct a customer who wishes to further escalate an issue. We will also update credit reporting to reflectthat Ms. [redacted]’s account was paid in full after charge off.We appreciate the opportunity to address this matter.Sincerely,Rise
[redacted]
[redacted]October 6, 2017Revdex.com of Central, Coastal, Southwest Texas and the Permian BasinAttn: [redacted]
[redacted]RE: Revdex.com Complaint ID [redacted]Dear Ms. [redacted],We are in receipt of the referenced...
complaint, and appreciate the opportunity to respond.Our records indicate that Mr. [redacted]’s loan application was declined because his income was not sufficient tosupport repayment of the proposed loan. RISE takes affordability very seriously, and must validate eachapplicant’s income before final approval. The offer was made based on data we received from credit bureaus, butwe are unable to validate income before an application is actually submitted. The income that Mr. [redacted] enteredon his application was $500 per month, which would have been insufficient to make payments on a loan. Themost common RISE loan in the state of California is $2,600 (the minimum amount that we lend), with 32 bi-weeklypayments of $241.44, and an APR of 224.35%.We regret any inconvenience Mr. [redacted] may have experienced. Thank you for the opportunity to address thismatter.Sincerely,RISE
Dear Ms. [redacted],We are still reviewing this matter, and will provide a full response as soon as possible.Sincerely,RISE