Harpeth Financial Services, LLC Payday Loan Complaint

Charged fees or interest I didn't expect

Harpeth Financial Services, LLC Payday loan department,

Charged fees or interest I didn't expect Tennessee

I applied for a pay day loan with this company on - as I have done several times. In times past I applied for a specific amount and was given a pay schedule which told me how many payments I had to make until the loan was paid. When I applied on the - I was under the impression I was applying for the same type of loan but the company changed the name of the loan to flex pay. I got a loan for - and thought I would be paying about - installments until the loan was paid. I called the company today to find out how much owed and I was shocked that I still owed over - and I 've made - payments. I was told by the representative that the way they do loans have changed and now it is an open line of credit and that if I only make the minimum payment on - is going towards the principle. He said it was like a credit card. I feel that I have been a victim of predatory lending and full disclosure was given to me at the time of the loan. They changed the name of the loan. Under these terms I will never pay it off

Harpeth Financial Services, LLC customer in Tennessee
Nov 21, 2015

* Source: CFPB Complaint Database

Harpeth Financial Services, LLC response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Harpeth Financial Services, LLCComplaint HistoryComplaints7/201412/20148/20159/201511/201512/20151/20164/20168/20169/201610/201600.511.522.5Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Harpeth Financial Services, LLCCharged fees or interest I didn't expect7.7%38.5%46.2%7.7%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageCharged fees or interest I didn't expect2.5%82.2%5.2%4.1%0.3%5.7%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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