Discover Consumer Loan Complaint

Discover Consumer Loan department,

Installment loan Managing the loan or lease Colorado

Discover is now offering consolidation loans. I took - out and I also opened a discover " bank '' account. The bank account pulls money from my checking account but then holds the money for over a week. I want to say the funds were held for 7-10 days. That 's fine if it was a check but this is an EFT transfer. So, I 'm losing the money out of my bank and not able to use it to pay my loan. So, In the meantime I look at my loan and pay the bill but the payment gets returned because the funds that they pulled electronically are n't available yet. Ok fine that does n't seem right but whatever. So, I paid 2 months on the loan and it should be due again in -. I get online and verify this. Then today I find that the loan payment pulls monthly even if it 's not due. So, the site a few days ago says the payment is due in -. I look at the next payment and that says - and yet the payment gets pulled for - anyway. So now I 'm overdrawn on the bank


bill it will be short and I 'll have to send more money that will get held and have fees taken out of. So, it 's this vicious cycle that you ca n't get out of. They should n't hold a deposit that they pulled eft out of my bank account for that long. They need to give better info on when payments are being pulled and they should n't say a payments not due and still pull it. It all ends up costing the consumer a lot in fees. After the last time this happened I thought I was planning ahead and getting the money into the " bank '' account a month early was enough time. It is n't. I 'm out fees again. Does n't seem right. Maybe it 's just me,