Preferred Credit, Inc. Consumer Loan Complaint

Installment loan Managing the loan or lease

Preferred Credit, Inc. Consumer Loan department,

Installment loan Managing the loan or lease Oregon

Back in - -, - I got approved for a loan from Preferred Credit , Inc., for $3000.00. After - phone calls from them during the last 6 weeks, to verify my address again, to make sure I am me, finally I have received in the mail the first statement, today, - -, -. To my astonishment I was already charged with $43.00 interest. I called the loan company, and was told that the interest starts accruing from the day I signed the contract. To my question of why they dragged their feet and took their time to issue this first statement so late ( again, 6 weeks later ), they had no reply. I mean, is their interest to delay the setting up of the accounts and so on, as long as possible, because, at the end me, the customer, will pay interest retroactively. Why I did n't get this first statement at the beginning of -? So I can be charged these accrued interest? I have no control of the speed they process their paperwork, yet I need to pay now. I think they are playing an unfair game regarding my case.

Preferred Credit, Inc. customer in Oregon
Feb 02, 2016

* Source: CFPB Complaint Database

Preferred Credit, Inc. response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Preferred Credit, Inc.Complaint HistoryComplaints8/201411/20144/20157/20158/20152/20163/201600.511.522.5Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Preferred Credit, Inc.Managing 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

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