NCP Finance Limited Partnership Payday Loan Complaint

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

NCP Finance Limited Partnership Payday loan department,

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

I received - loans from various payday loan Agencies, all in which were financed by the same Finance Company. I needed the loans to pay medical bills, and well needed car repairs, I was not aware that their was - Finance Company for all - loans. When I went back to payoff - my loans and re-loan, I was told that I could not re-loan due to my reaching my cap with the Finance Company. This caused a great financial crisis for me, because I had given them over $700.00 contingent upon them giving a portion of it back so I could fulfill my other obligations. I contacted the Finance Agency, whom had - my loans listed under a different ss # and another not listed at all, but yet I was declined receiving another loan " due to reaching my cap '' I had also paid off another loan to get a higher amount the lower amount was $1100.00 APR of 286.27 % total payments of $3100.00. I had paid $2400.00 at $280.00 monthly for six months. I was told I had to payoff the loan first before increasing the amount, so the Lender said I still owed $810.00 plus pay a additional fee of $55.00, so the interest that was deducted for paying off the loan early was only $560.00 ( which was unfair amount ) so now the new financed amount was $4100.00, I received $3300.00 after they deducted fees at a 221.13 % APR with monthly payments of $760.00, so the total amount owed to this same Finance Company would be $13000.00 over a period of 17 months for a loan less then $3000.00. I 'm certain that the Loan Agencies are not allowed to charge this much for small loans, and if they are someone need to do something about it. If they are licensed under the Mortgage Lending Act then they should be giving Mortgage Loans not payday loans. Payloans from -, - - -, - and installment loan from - all financed by NCP Finance ( Lender ).

NCP Finance Limited Partnership customer in Ohio
Dec 18, 2015

* Source: CFPB Complaint Database

NCP Finance Limited Partnership response to complaint:
Closed with monetary relief

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