BlueChip Financial Payday Loan Complaint

Can't stop charges to bank account

BlueChip Financial Payday loan department,

Can't stop charges to bank account California

I requested and received a $400.00 payday loan from - on -/-/-. I lost my job on -/-/- however I continued to make my payments of $71.00, twice per month as agreed because I could not do more to pay off the loan. I did notify them and they would not work with me to reduce interest or to stop interest charges. Although they did not argue that I could not make a payment -/-/-, they are now charging me approximately $130.00 per month with just a few dollars going toward the principal balance. I am still unemployed and not from a lack of diligently seeking employment. I have to borrow money to pay this loan! I have asked - to work with me but they will not. To date, I have paid - approximately $630.00 and they told me that they would be charging me $130.00 for another 8 months or so!

BlueChip Financial customer in California
Jul 10, 2015

* Source: CFPB Complaint Database

BlueChip Financial response to complaint:
Closed with explanation

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