Tower Loan Debt Collection Complaint

Payday loan Disclosure verification of debt right to dispute notice not received

Tower Loan Debt collection department,

Payday loan Disclosure verification of debt Right to dispute notice not received Louisiana

I took out a loan with Tower Loans of - la 17 months ago. I was told at the time, that I could repay the amount within 30 days for a $200.00 - $300.00 principal charged. I borrowed $1200.00. The manager at this establishment insured that I could repay within 30 days and it would not be added to my other personal loan balance. She sat with me and my husband with quick sign here comments. Less than a week later I went in to pay it off and I was told my payoff was $3300.00. When I asked about what I had originally been told, I was told that had been a false statement and how much will you be paying today. Feeling ashamed of myself for being fooled I have went in every month for the past 17 months and paid $230.00 each time. Making my total paid in this time period $3900.00. I called for payoff this week and my balance is still $2000.00. Hearing this infuriates me. I have paid more than double the amount I was promised I could originally pay off. I spoke with - the district supervisor and was made to feel like I 'm just trying to get out of paying my bill. I asked him some questions that he refused to answer. Like the APR and his cap % as well as how the principal is charged. He then took it upon himself to hang up on me. I feel this company SHOULD be looked into for unfair practices. I have basically paid almost $4000.00 in PRINCIPAL. This should be illegal. Not to mention the tactics used to get me to sign a contract agreeing to this. I forgot to mention the harassing phone calls and overall BAD ATTITUDES of All their employees including the District Supervisor. The District Supervisor also told me, you 've been paying it for over a year, why is it an issue now. Well because I honestly believe I 'm being treated unfair and I honestly believe TOWER LOAN is breaking the law.

Tower Loan customer in Louisiana
Sep 02, 2016

* Source: CFPB Complaint Database

Tower Loan response to complaint:
Closed with explanation

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