Tower Loan Consumer Loan Complaint

Installment loan Managing the loan or lease

Tower Loan Consumer Loan department,

Installment loan Managing the loan or lease Louisiana

I purchased furniture at - - of -, The terms of the agreement were 12 months same as cash. My finance agreement is through TOWER LOAN and is calculated differently. The interest has been added to the purchase before the finance agreement of 12 months with no interest has expired. This company also does not send out statements for the monthly payment due. I asked them about the statement and was told we do n't send statements- they only send out late reminders. Date of - - -, 2016, I reported this to the furniture company - -, 2016 and I am now reporting this to you. This is unfair lending practices and needs to be investigated and prosecuted for taking advantage of the undeserved -. TOWER LOAN is charging interest in advance and this is against the law.

Tower Loan customer in Louisiana
Jul 06, 2016

* Source: CFPB Complaint Database

Tower Loan response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Tower LoanComplaint HistoryComplaints8/201310/201312/20133/20144/20146/201410/201411/201412/20142/20154/20155/201512/20151/20164/20167/20168/20162/201700.511.522.5Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Tower LoanManaging the loan or lease95.2%4.8%Closed with explanationClosed with monetary reliefSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageManaging the loan or lease1.9%76.9%9.2%8.4%0.5%1.4%1.4%0.3%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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