LoanDepot Consumer Loan Complaint

Installment loan Managing the loan or lease

LoanDepot Consumer Loan department,

Installment loan Managing the loan or lease Alabama

On -/-/-, I sent a payoff to Loan Depot in the amount of $34000.00 for a loan balance of # $33000.00. Due to untimely payment processing I ordered a stop pay on -/-/-. At that time my bank issued another check to loan depot in the amount of $34000.00. Again due to untimely payment processing I ordered a stop payment on -/-/-. On -/-/- I called Loan Depot to payoff the loan via ACH over the phone. At that time Loan Depot was unable to accept my payment because the prior - checks were not returned. Loan depot stated that they would honor my -/-/- payoff as soon as their system allowed for an ACH payment. Loan Depot 's system updated on -/-/- to allow for me to make an ACH payment. When I called to pay, I was told that my payoff is as of -/-/-, not -/-/-. I was told by the customer service representative that it was my fault their system would not allow them to accept my payoff on - because of the stop pays, therefore, I was being charged an additional 20 days of interest.

LoanDepot customer in Alabama
Jan 05, 2016

* Source: CFPB Complaint Database

LoanDepot response to complaint:
Closed with explanation

Consumer disputes how LoanDepot handled their complaint

Created with Highcharts 4.2.3LoanDepotComplaint HistoryComplaints7/201512/20151/201600.250.50.7511.25Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3LoanDepotManaging the loan or lease100.0%Closed with explanationSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageManaging the loan or lease0.3%8.4%1.4%0.5%1.9%9.2%76.9%1.4%Untimely responseClosed with non-monetary reliefClosed without reliefClosed with reliefClosedClosed with monetary reliefClosed with explanationIn progressSource: Consumer Financial Protection Bureau

Get Help

Get personal financial help today. Free tools, resources, and support you need.

Help Me

File a complaint

Submit a complaint with the Consumer Financial Protection Bureau today

File Complaint

Stop Phone Calls

Stop the phone calls, learn how to stop harassing phone calls

Stop Calls

Loading similar complaints