Complaints
This profile includes complaints for CFTPAY's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 17 total complaints in the last 3 years.
- 6 complaints closed in the last 12 months.
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Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:03/06/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I engaged ** ********* to help resolve some debts, but cancelled the contract with them last Monday. They were wanting to charge 30% of the original balance on debts. For example, the one account they negotiated was a little over $9,000. ** ********* wanted to charge ~$2700 for that. Since no payments on the account had been made on Monday, they were able to cancel the account. The representative was very clear that no further deposits or any withdrawals would be taken from the *** account. I have the phone recording of this if necessary. They should have a copy of it as well. I was also assured that I had control over the *** account and no transactions would occur without my approval. Yesterday, *** paid a $169.17 payment and a fee of $10. Today, *** paid $1,638 in "Fees". When I called ** *********, they said that they deserved the fee because they "settled the debt." The contract actually says: "2. Our Guarantee: We will not charge any fee for our services until (1) a debt becomes unenforceable under your states 3. 4. statute of limitations due to actions taken or advice given by Law Firm that results in the debt becoming unenforceable under your states statute of limitations, or (2) we successfully negotiate a debt for you and you have made a payment toward the settlement of that debt (unless the terms of the settlement require no payment by you, in which case we would still be entitled to receive our fee for resolving that debt), or (3) we obtain compensation for you by providing other services contained in this agreement."Since I was assured that no payments on the debt would be made by ****** on 3/3/2025, and that no deductions would be made from the escrow account or any other deductions from my savings account, I do not feel that this $1800 should have been deducted. And again, I have no control over this account I was assued I would have control over.
Business Response
Date: 03/11/2025
While we cannot speak for your debt settlement company, we inquired with them about the payment instructions that we received. We were told there was a miscommunication between their teams, they were reversing and refunding monies, that they discussed this with you on Friday 3/7, and that you were satisfied with their response. Please let us know if this is not the case, and we will follow up.Initial Complaint
Date:11/08/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
CFTPay was used as my special deposit account for when I signed up for a debt settlement program. On the welcome letter that I received from CTF is clearly states "Your SPA will, at all times, be under your control and you have the right to withdraw available funds or close your account, at any time, without penalty. I had a positive balance of $775.25 in my account prior to making the phone call to the customer service at ***. I had informed the customer service person that I had cancelled my service with the debt settlement company and wanted to withdraw the money from my account. However, I was told that I would have to take to someone at the debt settlement company to be able to make a withdraw or close my account. I thought this is supposed to be MY account under MY control. The customer service person then wanted me to hold so they could dial in someone from the debt settlement company. While I was on the phone, I saw that adjustments had been made to my account that now my balance was $0. Basically, this company and the debt settlement company took the money, so I couldn't withdraw anything or be refunded any amount of money. So much for this being MY account and under MY control. CFT basically let the debt settlement company steal the money from MY account. This is OBVIOUSLY not my account and I don't have control of it at all times like it says in the welcome letter. If that was the case, CFT would have refunded me or let me withdraw the $775.25 that was in my account when I called them.Business Response
Date: 11/12/2024
Yes, the account was owned by you and under your control, and there was no penalty for withdrawal. No monies were stolen from the account. In the account agreement that you executed, the first item under Terms and Conditions states that "You have the right to close your SPA at any time and receive the full balance, minus any processing fees and any earned but uncollected fees due to your DSP, within seven (7) business days of your request to us." In this case, you asked us to close the account when a creditor payment was in process, so we had to do a stop payment, which incurred a $17.50 fee, reducing your balance from $775.25 to $757.75. Further, at the time of closure, the earned but uncollected fees due to your DSP was $1,384.31. The $757.75 remaining in the account was applied to that $1,384.31, leaving a zero balance in your deposit account. Please let us know if you need additional information.Customer Answer
Date: 11/12/2024
Complaint: 22531434
I am rejecting this response because: the creditor was supposed to receive a cashiers check or money order according to the terms in the judgment therefore there should have never been a stop payment on it. So basically you did steal $160 from me that was owed to a creditor.
Sincerely,
****** *******Customer Answer
Date: 11/12/2024
Complaint: 22531434
I am rejecting this response because: the creditor was supposed to receive a cashiers check or money order according to the terms in the judgment therefore there should have never been a stop payment on it. So basically you did steal $160 from me that was owed to a creditor.
Sincerely,
****** *******Customer Answer
Date: 11/12/2024
Complaint: 22531434
I am rejecting this response because: the creditor was supposed to receive a cashiers check or money order according to the terms in the judgment therefore there should have never been a stop payment on it. So basically you did steal $160 from me that was owed to a creditor.
Sincerely,
****** *******Customer Answer
Date: 11/12/2024
Complaint: 22531434
I am rejecting this response because: the creditor was supposed to receive a cashiers check or money order according to the terms in the judgment therefore there should have never been a stop payment on it. So basically you did steal $160 from me that was owed to a creditor.
Sincerely,
****** *******Customer Answer
Date: 11/12/2024
Complaint: 22531434
I am rejecting this response because: the creditor was supposed to receive a cashiers check or money order according to the terms in the judgment therefore there should have never been a stop payment on it. So basically you did steal $160 from me that was owed to a creditor.
Sincerely,
****** *******Customer Answer
Date: 11/12/2024
Complaint: 22531434
I am rejecting this response because: the creditor was supposed to receive a cashiers check or money order according to the terms in the judgment therefore there should have never been a stop payment on it. So basically you did steal $160 from me that was owed to a creditor.
Sincerely,
****** *******Business Response
Date: 11/13/2024
In your account agreement, you authorize us to accept payment instructions from both you and your DSP as your representative. In this case, your DSP instructed us to remit the payment to your creditor and later instructed us to stop that payment, and we executed on both instructions. If you have an issue with the way your DSP remitted instructions on your behalf, you would need to take that up with them. As your account provider, we processed the transactions appropriately on the instructions we received, in accordance with the account agreement.Initial Complaint
Date:10/22/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I signed up with this company over 6 months ago. They were supposed to get a offer to get accounts out of collection. I was contacted by discover bank of a settlement on the account and the monthly amount to pay. I got this settled. They collect fees every month but don't do anything to help. They never contacted any other creditors on my credit file. Right now I would like the over %$700 that's in my account and the October payment t. After 6 months they were suspose to give me a loan to pay off creditors and pay them. But they never settled any a counts.Business Response
Date: 10/29/2024
CFTPay is the provider of the special purpose account used to support your settlement program. We do not negotiate debts or make loans, those services are performed by a debt settlement provider. We reached out to your provider on your behalf. We have been informed that they have communicated with you and will be reversing all fees and submitting a withdrawal back to your external account. Please let us know if that does not get taken care of. Thank you.Customer Answer
Date: 10/29/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***** *****Initial Complaint
Date:09/26/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I called CFTPay to cancel my account on the 20th of September. I told that my account would be cancelled and my money would be returned. I am closing the account be ** ********* is a terrible company to work with and I am going with a different debt settlement company. I called CFTPay again on the 23rd to see what was going on with my account and I was told that there was a debit for $****.** and it would be credited within 24 to 48 hours. Here I am 2 days later with no credit back in my banking account. I called ********************** again on the 25th and I was told that the return credit was not set until the 30th. However that is not what I was told 2 days prior. I also see that there have been payments out of my account on the 25th and 26th but I closed the account on the 20th so those payments should not have went through. The money in the account is mine and I should receive it all back. I am not out $****.** because they did not close the account when I told them too.Business Response
Date: 10/02/2024
The original information given was accurate and in accordance with the language in our account agreement, but what was conveyed on the second call was not. There were payments in transit that affected the available balance, and the 2 day timeline was incorrect. We apologize for that miscommunication and have provided additional training to relevant staff. *** replenished the funds to your account for the payment that went out, and the in transit payments were cancelled. The withdrawal was then completed, for the full expected amount, should've been at your bank by Monday 9/30. Please let us know if you did not receive. Also, we noticed a new account opened with us, in support of the enrollment with your new provider. We have waived our normal account setup fee and first maintenance fee on that account, due to your prior account relationship with us. Again we apologize for the errant communication, and we hope this has now been resolved to your satisfaction,Initial Complaint
Date:09/12/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I was under the impression that I would secure a loan from *** pay to pay off high interest credit card debts. This is not the case. At any rate they are removing money from my checking account and putting it in an escrow account. This is not the service I thought I was signing up for. I called the company to withdraw from this program and was told only the special sales team could facilitate my withdrawal. I am on day three of waiting to hear from them. When I call the company to try and facilitate my withdrawal I'm told they are unavailable and to wait for their call. I just want to resolve this matter.Business Response
Date: 09/20/2024
*** does not offer loans or market directly to consumers. We offer deposit/escrow accounts that consumers use to support debt settlement programs, and customers come to us via debt settlement providers. It seems there was confusion about the offering from the debt settlement company, and that they did not satisfy your request to cancel (we have no record of a call to us, and we don't have the types of positions referenced in the complaint). We reached out to your debt settlement company and told them of your dissatisfaction and intent to cancel. Accordingly, both their enrollment for services and our deposit account were closed, and funds were returned via *** back to the account from which the deposits came. This should've been received in your account on or around Sept 16, in the amount of $358.93. If you did not receive this, please let us know, so we can trace it through the banking system and ensure we resolve for you.Initial Complaint
Date:06/27/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
They will not allow me to log into my account and make excuses. I have good reason to believe this is a scam companyBusiness Response
Date: 07/01/2024
Our records show that you contacted us on the same day as this BBB filing for a password reset, and the issue was resolved on the call. We contacted your debt settlement company, to see if they had a reported issue. We were told they spoke to you on the same day, and that your account was being closed. The account is now showing closed and your funds returned, so we assume this satisfies your complaint. Please let us know if anything further is needed.Customer Answer
Date: 07/01/2024
Complaint: 21910878
I am rejecting this response because:
Sincerely,
*******************I will close my complaint once I have also received the $790 payment. The $1300 has been received but not the $790.
Business Response
Date: 07/08/2024
CFTPay is the provider of the account and payment services you use to support the settlement process. We maintained the account and processed payments in accordance with the instructions we received. Your dispute about fees charged is with your debt settlement provider. We reached out to the provider, and they have refunded the fees in question to your CFTPay account. We have initiated an ACH withdrawal to your bank account, which you should see within two business days.Customer Answer
Date: 07/09/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***** Woodsbecause the money was refunded but my credit that was ruined using this program will still be affecting me unfortunately
Initial Complaint
Date:12/23/2023
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have been in contact with *********************** for 3 weeks now trying to get my account canceled and the money refunded to me. For some reason when I spoke to CFT they said that I have 2 accounts and they did cancel one of them and refunded me 2 weeks ago in the amount of $663. I also have another account with them that has a balance on $**** and they say that the account is still active despite my request for 2 weeks now to cancel it. I should have never had 2 accounts with them and they can not explain as to why I do. I have sent them my banking documents to show that they did not sent the $663 to me they will not respond to that. Also, the **** account they will not close it and send me my money. I do not know who else to talk with as I have spoke to them and the *********************** to no availBusiness Response
Date: 12/26/2023
It appears that you enrolled with the debt settlement company and an account was opened with us on 12/1/2022. That account was closed shortly after opening, and the $663.02 balance was sent back via ACH to your bank account on 12/13/2022 (it generally takes a 1-2 business days for your bank to post the deposit). On 5/31/2023, we received a new enrollment and account opening request. That account was recently closed, and the remaining balance of $4,044.12 was sent back to your bank account via ACH on 12/23/2023 (again, it may take 1-2 business days for your bank to post, so that would likely show up today or tomorrow). If you have not received either amount, please let us know, and we can trace the transaction(s). If you previously provided bank statements regarding the $663.02, please resend, so we can use that information as we research the transaction. Thank you.Initial Complaint
Date:10/05/2023
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Summer 2023 Having ************** Debt relief apparently involved me with Crossroads Financial Technologies. The welcome package I received was a two page set of instructions on accessing my funds or close my account..at any time, without penalty. A web address was provided as well as a user ID (BEYOND ************. I called the number provided for assistance. Imagine my surprise when I was given a sales pitch for one product after another..I kept pushing their stop button before I got to another robo person who provided a different number. Upon calling that number I was told I wasnt in their system. Another number was provided which I tried. The same robo person **** came on with same number I just dialed. By this time, I was pretty disgusted and decided to do something. I am contacting BBB for help.Business Response
Date: 10/05/2023
Please let us know which number you called. We don't use robo persons or have anything to sell to our customers (we only provide deposit accounts), so the concern is that the communication you received contained a wrong contact number. Regardless, your information will be forwarded to our customer service group, and someone will be contacting you to help you with your account.Initial Complaint
Date:10/03/2023
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I paid in full through CFT Pay this debt from Island Finance. These people alleges that they have been requesting this letter from Island Finance and does not allow me to request it directly from Island Finance. For debiting $156 every two weeks are very fast and efficient, which 60% goes to Veritas Legal Plan, but to send the payments and report to the credit bureaus, not so. They are keep holding the payments, and instead of improving my credit score, are shredding it. Now thanks to CFT pay, I requested a small emergency loan, and it was denied because of the low credit score.Business Response
Date: 10/09/2023
CFTPay is the provider of the special purpose account you established to support your debt settlement program you entered into with JW Financial Services (****). We are not involved in the negotiation of debts or communicating with your creditors. Those are the functions of a debt settlement company. According to our records, you called our offices the same day as this BBB complaint was filed, and this same information was shared on that call, and we provided the contact number for ****. If this issue is still outstanding, you will need to contact ****, as we don't have information about your settlements and negotiations.Initial Complaint
Date:09/27/2023
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I recently spoke to cancel this debt settlement program since I was misled by ********* that I would not be in a debt settlement program. ********* also said I could still use my credit card while I would be on the program which I cant through CFT. So I have been lied to and I want to refund. CFT said they would refund me but my account is still active and I received no cancellation confirmation from the company. I also see my account is still in active status which should be on cancelled status. So now both CFT and ********* lied to me and are just trying to **** in as many fees as they can from me.Business Response
Date: 10/05/2023
CFT is the provider of the deposit account used with your debt settlement program. We do not participate in the debt settlement process or restrict the usage of your credit cards. In reviewing our records, we find that you emailed us on 9/26, we reached out for confirmation, but didn't get a response. However, we initiated the account closure, but transactions were in process and could not be stopped. Those transactions settled on 9/28, and they have all been reversed. We can now close the account and remit the funds back to your external bank account.Customer Answer
Date: 10/05/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
*********************
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