Mobiloans, LLC Consumer Loan Complaint

Mobiloans, LLC Consumer loan department,

Installment loan Problems when you are unable to pay Oregon

In - 2014 I took out a $1000.00 'Line of Credit ' at about the same percentage as a payday loan from a tribal lender - Mobiloans. Over the course of the next 10 months I made regular payments of $95.00 every two weeks. A few times I paid off the loan completely, only to need to take it out again. In - I signed up with a debt management program. Mobiloans denied the proposal, saying they do n't work with those. I was told they would not accept any payment discussions on my loan until I was 30 days late. Once at 30 days, I called back to again discuss payment arrangements. I was not trying to 'settle the debt ', I was trying to pay it back with arrangements I could handle in my budget. I was told I could pay $950.00 in - installments of $470.00 each within 30 days and this would satisfy the remaining amount due of $1300.00. I was told this would be accepted as payment in full and release me from the remaining debt. At great hardship, I made these payments on time, for a grand total of $5000.00 paid on $3400.00 loaned.


email Mobiloans Disputes. Disputes told me they would change it to Charged Off/Balance $0.00 because I had 'accepted a settlement '. At no time during the payment arrangements was I told this would report to my credit this negatively. Usually Charge Offs are reported when there are - plus months of non payment. This was not the case. I offered to pay the remainder of the amount they accepted as Paid in Full just to have this removed. They refused, saying it was my mistake that I chose the settlement option. I asked that they remove the Charge Off then as this was only hurting my credit, not them, as they 'd received $1500.00 above the original loan paid back in full. I was told that they had to report 'accurately '. However, they had not reported 'accurately ' the amounts paid, nor the good payment history before the accepted final payment. I 've sent multiple letters and called numerous times. At best, I 've been told 'I should be thankful they are only reporting - '.