Risecredit, LLC Payday Loan Complaint

Payday loan Charged fees or interest I didn't expect charged fees or interest i didn't expect

Risecredit, LLC Payday loan department,

Payday loan Charged fees or interest I didn't expect Charged fees or interest I didn't expect Ohio

I have had a loan with Rise Credit for over a year now, they meet every criteria of being a predatory lender. Each time I pay it off I am forced to take out another because the interest and fees of the last loan left me unable to pay my normal expenses. Out of a $ - monthly payment only about $50.00 goes to principal, I end up paying over triple the amount I originally received by the time the loan is paid off. Since this is an internet company I do n't think they are regulated and I believe they break Federal and Ohio Consumer Lending laws. I selected that I initiated contact but actually I received emails and mailers from them before ever taking out a loan.

Risecredit, LLC customer in Ohio
Oct 28, 2015

* Source: CFPB Complaint Database

Risecredit, LLC response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Risecredit, LLCComplaint HistoryComplaints3/20144/20148/20149/201410/20141/20152/20154/20155/20156/201510/20151/20163/20165/201610/20164/2017012345Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Risecredit, LLCCharged fees or interest I didn't expect100.0%Closed with explanationSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageCharged fees or interest I didn't expect5.7%4.1%2.5%5.2%82.2%0.3%Untimely responseClosed with non-monetary reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

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