ComplaintsforOppLoans

• Initial Complaint

  08/02/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  Yes I understand I signed a contract, but I learned that the APR is illegal in my state and Ive paid over $2700 and only 19% went to principal. I've never been late on payments and their reported it my credit report.

  

  Business response

  08/12/2024

  August 12, 2024
  ***********************
  RE:BBB Complaint: ********
  
  To:***********************,
  
  This is the response of Opportunity Financial, LLC ("OppFi")to the Better Business Bureau complaint referenced as ******** (the Complaint) made by you, *********************** on August 2, 2024. In the Complaint, you state that you understand you signed a contract, however, you learned that the interest rate is illegal in your state. You also state that you have paid over $2,700 and only 19% has gone to the principal. For resolution, you have requested a billing adjustment and for the interest rate to be lowered.
  
  Please be advised that ********************** (CCBank) is a Utah state-chartered, **** insured bank, with the **** as its primary federal banking regulator. Consequently, CCBank is governed by both federal banking laws and the laws of the State of Utah. CCBank contracts with OppFi to offer small-dollar installment loans to consumers. In this relationship, CCBank is the lender and OppFi is the technology provider. OppFi is contracted to provide the application platform facilitating loan origination for CCBank, as well as services the loan on behalf of CCBank after the origination. OppFi does not purchase the loans nor is title to the loans ever transferred to OppFi.
  
  At OppFi, we take all complaints seriously as we strive to provide exceptional service at every touchpoint. In response to the Complaint, we have conducted a thorough investigation, and according to our records, you received one (1) loan (the subject of the Complaint) from CCBank using the OppFi platform, which is current with an outstanding balance.
  
  You secured your loan on February 27, 2024, in the amount of $4,000.00,which required a total of thirty-five (35) semi-monthly payments in the amount of $301.60, with the first payment due on March 15, 2024. As of August 6, 2024,you have made nine (9) successful payments in the amount of $301.60, along with sixty (60) payments with transactions ranging between $1.20 and $12.00 that have all been successful. 
  In the Complaint, you state that you understand you signed a contract,however, you learned that the interest rate is illegal in your state. Please be advised that OppFi provides outsourced services to CCBank in order for CCBank to offer small-dollar installment loans to consumers with less than perfect credit history. CCBank markets the loans to potential consumers through OppFis technology platform, and CCBank then outsources the servicing function to OppFi. To be clear, CCBank contracts with Illinois consumers as the lender. It originates and funds the loans. OppFi does not provide or originate consumer loans in ********, nor does it contract with Illinois consumers. Moreover,under Section 27 of the Federal Deposit Act, a state-chartered, federally insured bank, such as CCBank, is authorized to impose finance charges under the governance of the usury laws of the state where the bank is located. 12 U.S.C. 1831d. This federal statute expressly preempts any State constitution or statute that sets forth state usury laws prohibiting an interest rate allowed by the state in which the state-chartered, federally insured bank is located.Hence, all loans originated by CCB and serviced by OppFi in the State of Illinois are allowable by all pertinent statutes. 
  
  Additionally, in your Complaint you stated you have paid over $2,700 and only 19% has gone to the principal. Please be advised that your loan incurs daily interest, which may increase your balance daily. However, it's important to note that all the interest you are scheduled to pay has been pre-calculated and equally distributed among the thirty-five (35) payments outlined in your agreement. Also, in the early phase of your loan, you may notice a larger proportion of your payment is applied towards interest. However, as you continue to make your payments on time as planned, the balance will begin to reduce more noticeably.
  
  Furthermore, you accepted the $4,000.00 loan on February 27, 2024, and signing the Promissory Note and Disclosure Statement (the Agreement) that includes Federal Truth in Lending Disclosures (inclusive of the APR), you acknowledged that the Agreement correctly reflected the terms of the loan and that you received a complete copy of the Agreement for your records. Also,within the Agreement, you agreed to section 15 titled Credit Reports, which states that You understand and agree that we may obtain credit reports on you on an ongoing basis until this Note is paid in full. You also understand that we may report your performance under this Note to credit reporting agencies.All payments, including on time payments, late payments, missed payments, or other defaults on your loan may be reflected in your credit report. By signing the Agreement, you acknowledged that you read, understood, and agreed to all the terms of the loan. A copy of the agreement is attached hereto.
  
  Regarding your requested resolution to receive a reduction in interest,we are unable to accommodate this request. You were made aware of the cost of credit and the rate is permissible by all pertinent statutes. The finance charge for the loan is prominently shown in the Truth-In-Lending Statement found on the first page of the Agreement, and assuming you reviewed the agreement prior to signing it, we can only conclude that you were aware of the interest charges prior to the funds being deposited in your account.
  
  
  We hope this resolves all concerns, but if you have additional questions, please reach out to OppFi at ************* or me directly at *************************************************
  
  
  
  
  
  *****************************
  Compliance Manager, Complaints
  OppFi,LLC

  Customer response

  08/12/2024

   
  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

  08/02/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am not liable for this debt Opploans I do not have the contract with Opploans they did not provide me with the original contract as I requested

  

  Business response

  08/06/2024

  August 6, 2024
  
  RE:BBB Complaint ********
  This is the response of Opportunity Financial, LLC ("OppFi") to the Better Business Bureau complaint referenced as ******** made by *************************** on August 2, 2024. In the complaint, you assert that you are not liable for the debt.  For resolution,you have requested a repair to your credit file.
  FinWise Bank (FinWise) is a ****-insured, Utah chartered bank. FinWise Bank contracts with Opportunity Financial, LLC (OppFi) to offer small-dollar installment loans to consumers with less than perfect credit history. In this relationship,FinWise is the lender and OppFi is the technology provider. FinWise originates the loan and provides funds to the consumer. OppFi is contracted to provide the application platform facilitating loan origination for FinWise, as well as services the loan on behalf of FinWise after the origination. As a ****-insured, Utah chartered bank, ******************* regulators are the **** and *************** of Financial Institutions (UDFI).
  At OppFi, we take all complaints seriously, as we strive to provide exceptional service at every touchpoint. In response to your complaint, OppFi has thoroughly researched this matter. According to our records, you received a loan from FinWise using the OppFi platform. The loan has been written off.
  ***************************, you secured your loan on November 27, 2019, in the amount of $1,400.00, which required a total of twenty bi-weekly payments in the amount of $119.60, with the first payment due on December 4, 2019.  You made two successful payments towards the loan, and sixteen unsuccessful payments, the unsuccessful payments were due to insufficient funds.  The last successful payment received towards the loan was on March 22, 2020, in the amount of $119.60.  OppFi began sending you emails regarding your account status; however, you did not respond.  The account went into written-off status on August 4, 2020, with a balance in the amount of $3,021.18.
  In the complaint, you are requesting a repair to your credit file.  ***************************,OppFis credit reporting team received two indirect disputes from you.  The disputes were received in October 2022,stating that the loan is not yours.  The dispute was responded to on November 9, 2022, advising that all information being reported to your credit file is accurate.  The account was first reported late as of June 5, 2020.  OppFis credit reporting team has confirmed that your account is accurately being reported as written-off on August 4, 2020, with an outstanding balance in the amount of $3,021.00.
  ***************************, the Installment Loan Agreement Promissory Note and Disclosure Statement (The Agreement) was executed by you on November 26, 2019.The Agreement is attached hereto. By signing the Agreement, you acknowledged that you read, understood, and agreed to all the terms of the loan.      
  Regarding your requested resolution to have a repair to your credit file, unfortunately, we are unable to do so, we are required to report accurate and complete information to credit bureaus under the Fair Credit Reporting Act and to not adjust such information unless we know or have reasonable cause to believe that the information is inaccurate.
  
  We hope this resolves all your concerns,but if there are additional questions, please reach out to OppFi at ************* or me directly at *********************************.
  
  Sincerely,
  ***********************
  Regulatory Complaints Associate
  Opportunity Financial, LLC
  
  
  
  
  
  
  
  
  
  
  
  

• Initial Complaint

  07/20/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This company allowed someone other than me to access an online personal loan in my name. I have reached out to them to resolve this matter but I received no response. It is illegal to report this information onto my credit without my knowledge. I am asking for the company to remove this information. Thank you.

  

  Business response

  08/01/2024

  August 1, 2024
  
  Re: BBB Complaint: ********
  
  This is the response of Opportunity Financial, LLC ("OppFi") to the Better Business Bureau complaint #******** made by ***************************** on July 20, 2024. In the complaint, you assert that OppFi allowed someone to open an account in your name.  For resolution, you are requesting a correction be made to your credit report. 
  
  Please be advised that ********************** (CCBank) is a Utah state-chartered bank with the ************************************* (FDIC) as our primary federal banking regulator. Consequently, CCBank is governed by both federal banking laws and the laws of the State of Utah. CCBank contracts with Opportunity Financial, LLC (OppFi) to offer small-dollar installment loans to consumers. In this relationship, CCBank is the lender and OppFi is the technology provider. OppFi is contracted to provide the application platform facilitating loan origination for CCBank, as well as services the loan on behalf of CCBank after the origination.
  
  At OppFi, we take all complaints seriously and strive to provide exceptional service at every touchpoint. In response to this Complaint, we thoroughly researched the matter and according to our records, *****************************, you received a loan from **********************, using the OppFi platform. The loan has been written off.
  
  *****************************, you obtained your loan on October 5, 2023, in the amount of $1,000.00 which required a total of twenty bi-weekly payments in the amount of $85.97, with the first payment due on October 13, 2023. You made four successful payments towards the loan and three unsuccessful payments.  The unsuccessful payments were due to insufficient funds.  The last successful payment received towards the loan was on December 8, 2023, in the amount of $85.97.  OppFi began sending you emails regarding your account status, and you did not respond.  The account was written off on March 21,2024, with an outstanding balance in the amount of $1,322.09.
  
  In the Complaint, *****************************, you indicate that OppFi allowed someone to open an account in your name. *********************** fraud department investigated your claim on July 26, 2024. The investigation found that the name, address, phone number and bank account on the ********************** account matches back to you.  No evidence of fraud was found.  OppFis credit reporting team has confirmed that you are accurately being reported as written off as of March 21, 2024,with an outstanding balance in the amount of $1,322.00.
  
  Regarding your requested resolution to update your credit report, unfortunately we are unable to so, as stated above no evidence of fraud was found. Furthermore, we are required to report accurate and complete information to credit bureaus under the Fair Credit Reporting Act and to not adjust such information unless we know or have reasonable cause to believe that the information is inaccurate.
  
  We hope this resolves all your concerns, but if there are additional questions, please reach out to OppFi at ************** or me directly at *********************************.
  
  Sincerely,
  ***********************
  Regulatory Complaints Associate
  Opportunity Financial, LLC
  
  
  
  
  
  
  
  
  
  
  
  

  Customer response

  08/01/2024

   
  Complaint: 22017814
  
  I am rejecting this response because:

  The address on file is not mine. The information on this account does not align with my actual information. It was the information given to you. 
  
  Sincerely,
  
  *****************************

  

  Business response

  08/05/2024

  August 5, 2024
  
  Re: BBB Complaint ********
  To whom it may concern:
  This is the response of Opportunity Financial (OppFi) to the Better Business Bureau regarding a rejection to our response on complaint #******** made by ***************************** on August 1, 2024. In the Complaint, you state that the address on file is not yours.
  Please be advised that ********************** (CCBank) is a Utah state-chartered, **** insured bank, with the **** as its primary federal banking regulator. Consequently, CCBank is governed by both federal banking laws and the laws of the State of Utah. CCBank contracts with OppFi to offer small-dollar installment loans to consumers. In this relationship, CCBank is the lender and OppFi is the technology provider. OppFi is contracted to provide the application platform facilitating loan origination for CCBank, as well as services the loan on behalf of CCBank after the origination. OppFi does not purchase the loans nor is title to the loans ever transferred to OppFi.
  As stated in the previous response, OppFis fraud department investigated your claim on July 26, 2024.  As part of the investigation, OppFis fraud department did a search and found the name, address and phone number on the OppFi profile matches back to you.  Also,the funds from the loan were applied to a ***** ********** account ending in 8360, it was confirmed that you are the owner of the bank account.
  We truly hope the above final explanation resonates and resolves all concerns, but if by chance there are additional questions, please reach out to me at *********************************. 
  
  Sincerely,
  ***********************
  Regulatory Complaints Associate
  Opportunity Financial, LLC
  
  
  
  

• Initial Complaint

  07/15/2024

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I originally obtained a loan for $900.00 though Opploans in 2023. They offered to give an estimate loan amount to refinance when my balance hit $544. They said on the website that I would not be offered more than what I had paid on principal so far so presumed close to my prior loan amount. They take you though verifying your bank account and then state you may get up to 2500 but that isnt verified, yet- taking you to a contract to sign. I had asked customer service if I could choose a lower (1200) loan amount and they told me to sign the contract and then call. I did this I was then told once I sign the contract, you cannot change your loan amount. This is absolutely predatory. I was told to call payment center when the money is received today and they would take it back. Lies. They now say I have to pay the money back AND the prior principal balance I refused within 5 days! They are con artists and 1000% predatory. I cannot believe no one has put them out of business. They prey on poor people with no resources .Do not walk, RUN!

  

  Business response

  07/24/2024

  July 24, 2024
  
  Re: BBB Complaint: ********
  
  Dear *************************,
  This is the response of Opportunity Financial, LLC ("OppFi") to the Better Business Bureau complaint referenced as ******** (the Complaint) made on July 15, 2024. In the Complaint, you state that you originally obtained a loan for $900.00 though Opploans in 2023. You also state you were offered an estimated loan amount to refinance when your balance hit $544.00. Furthermore, you asked customer service if you could choose a lower loan amount and you state you were advised to sign the contract and then call. However, you assert that after calling, you were told once you sign the contract, you cannot change your loan amount, and claim this is predatory. Additionally, you state that you were advised to call once you received the funds for the loan and the funds would be taken back, but state this is a lie. For a resolution, you have requested to restore your original loan and to receive a refund of $1,938.37.
  FinWise Bank (FinWise) is a FDIC-insured, Utah chartered bank. FinWise contracts with OppFi to offer small-dollar installment loans to consumers with less than perfect credit history. In the relationship, FinWise is the lender and OppFi is the technology provider. FinWise originates the loan and provides funds to the consumer. OppFi is contracted to provide the application platform facilitating loan origination for FinWise, as well as services the loan on behalf of FinWise after the origination.
  At OppFi, we take all complaints seriously as we strive to provide exceptional service at every touchpoint. In response to your complaint, we have thoroughly researched this matter. According to our records, you received three (3) loans from FinWise,using the OppFi Platform. Two (2) refinance loans and one (1) reloan. Between July 11, 2024, and July 12, 2024, you applied four (4) times. However, three (3) of the applications were withdrawn by you either the same day, or the following day. As of July 22, 2024, the most recent loan (the subject of this complaint) was showing current, with an active balance owing.
  Our records indicate you received your most recent loan on July 15, 2024, in the amount of $2,500.00 which required a total of eighteen (18) semi-monthly payments in the amount of $244.12, with the first payment due on August 1, 2024.
  In the Complaint, you state that you asked customer service if you could choose a lower loan amount and you were advised to sign the contract and then call. However, you assert that after calling, you were told once you sign the contract, you cannot change your loan amount, and claim this is predatory. As a valued customer, this is not the impression we wish for you to have about our company. We take pride in being one of the top-rated companies in the non-prime consumer lending industry. Please note, during the application process it is our goal to be completely transparent in our lending practices. Due to this you are provided with information regarding the loan, prior to signing.
  A review of your loan indicates that on July 11, 2024, you contacted OppFi to see if you could lower the loan amount to $1,300.00. The representative placed the call on hold to look into the loan amount. It was then advised the system was processing and the representative inquired if you would prefer to hold or call back after five (5) minutes. You stated you would call back. The loan terms were also confirmed.
  It was not until July 12, 2024,that you contacted OppFi back to say that you were just approved yesterday and tried to get another refinance last night due to wanting a lesser amount, but it was canceled. You stated you were advised to wait until this loan was approved and then you could call and ask for a lesser amount. The representative advised the loan amount can be changed, but only prior to approval and signing the contract. You stated you only wanted $1,800.00 and the loan contract had already been signed and you didnt know what you are approved for until you signed the contract. The representative advised the system will show you what you are approved for prior to signing the contract. You stated you signed the contract before being approved, you would send the money back and go to an attorney before disconnecting the call.
  You contacted OppFi back that same day, July 12, 2024, to say you were trying to refinance and you were told last night that you could withdraw or cancel the loan and then you could ask for a lower amount.  However, per the phone conversation you had earlier, you were advised that you could not ask for a lower amount as you had already signed the contract, but you have to sign the contract before being told how much you are approved for. The representative advised when signing the contract, the system will show under the terms how much you are eligible for. It was advised you could wait until Monday when you receive the funds, and then call the payments department in order to pay the loan back or make an arrangement so the refinance could be canceled. You stated you would close your account and send the $544.00 you owe and if necessary, go to an attorney. You stated this was fraudulent and predatory. You asked how to stop the process and the representative advised that the application was already approved. You stated you would go to the government and disconnected the call.
  You contacted OppFi once more on July 15, 2024, to say you did not want the funds and when you applied for the refinance, you were not given an option for the loan amount, and you were forced to sign the contract. You stated you wanted OppFi to take the funds back and you would pay back what you owe. You confirmed that you received the funds for the loan. The representative advised that in order to cancel the loan; you would need to repay the full amount within five (5) calendar days from the funding date, you can make this payment via debit card or ACH, through the customer portal or by calling in, and you can also send a check via mail as long as it's postmarked by the fifth day. If you would like to reapply for a new loan, you would have to wait thirty (30) days to reapply. You asked how long you had to pay it in full and was advised you have five (5) calendar days from the dispersal date. The call was then disconnected.
  In the Complaint you also state that you were advised to call once you received the funds for the loan and the funds would be taken back, but you state this is a lie. We can confirm that a payment of $1,938.97 was received via ACH on July 17, 2024. Please note, it may take three (3) to five (5) business days for the payment to clear.
  Regarding your request to restore your original loan and refund you $1,938.37, your most recent loan ending in ****9875 will be rescinded as the funded amount was paid within five (5) days of the origination. Once the payment clears, the refinance loan will show as canceled. Please note, after rescinding the approved refinance loan application, your prior loan ending in ****6711 will be reopened. Additionally,we are unable to provide a refund as the $1,938.37 which was received on July 17, 2024, was used to rescind your loan.
  We hope this resolves all concerns, but if you have additional questions, please reach out to OppFi at ************** or me directly at **********************************.
  
  Sincerely,
  *********************
  Regulatory Complaints Analyst
  Opportunity Financial, LLC
  
  
  Enclosures
  July 2024 Loan Agreement
  Payment History

  Customer response

  07/24/2024

   
  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.

  The company did cancel the new loan and reinstate my original that I had already opened. 

  
  Sincerely,
  
  *************************

• Initial Complaint

  07/13/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  This business has committed or allowed identity theft to my name. They allowed someone else to use my name to get a loan and I was never ever informed. I never received any communication from them and the email address they have does not belong to me. I never requested a loan from them at anytime.Identity theft and fraud is against the law and allowing illegal loan signing as well is a criminal act. They need to confront the person responsible and get the facts straight.

  

  Business response

  07/15/2024

  July 15, 2024
  
  RE: BBB Complaint No: 21984120
  
  
  Dear ***********************,  
  
  Thank you for reaching out to OppFi. We received your message through the Better Business Bureau regarding an issue dated July 13, 2024. We appreciate the opportunity to address your concern.However, after a thorough review of our records, we were unable to locate an account associated with the email and phone number you provided.
  
  We understand from your complaint that a loan was taken out fraudulently in your name. OppFi would like to investigate further and provide accurate information. However, in order for us to investigate, please provide additional information such as the email address or loan ID associated with this account. Once you provide this information, we can begin a review of your complaint. Thank you for your cooperation, and please let us know if you have any further questions or concerns.

   

  
  Sincerely, 
  *****************************
  Compliance Manager, Complaints
  Opportunity Financial, LLC

  
  

  Customer response

  07/15/2024

   
  Complaint: 21984120
  
  I am rejecting this response because:
  
  Sincerely,
  
  ***********************

  I have provided this company with more than enough information thru email...MY REAL EMAIL .... and they refuse to comply.  A fraud is illegal and they have allowed it to happen.  And from history on here it looks like it has happened too many times and a law suit has even been posted against them..This company should be shut down for allowing fruad and scamming to happen.  I want this cleared up immediately and there better darn well not be any negative agaist my credit report!!

  

  Business response

  07/18/2024

  July 18, 2024
  
  Re: BBB Complaint ********

  
  To ***********************,  
  
  This is the response of Opportunity Financial, LLC ("OppFi") to the Better Business Bureau complaint referenced as ******** (the Complaint) made on July 13, 2024.Initially, we did ask for some additional information to proceed with the complaint. We appreciate you providing additional information to investigate. In the Complaint, you state that a loan was taken out fraudulently using your personal information. For resolution, you have requested this to be removed from your credit report.
  
  Please be advised that ********************** (CCBank) is a Utah state-chartered, **** insured bank, with the **** as its primary federal banking regulator. Consequently,CCBank is governed by both federal banking laws and the laws of the State of Utah. CCBank contracts with OppFi to offer small-dollar installment loans to consumers. In this relationship, CCBank is the lender and OppFi is the technology provider. OppFi is contracted to provide the application platform facilitating loan origination for CCBank, as well as services the loan on behalf of CCBank after the origination. OppFi does not purchase the loans nor is the title to the loans ever transferred to OppFi.
  
  At OppFi, we take all complaints seriously and strive to provide exceptional service at every touchpoint. In response to the Complaint, we conducted a thorough investigation regarding your complaint stating you are a victim of identity theft and that this loan was taken out fraudulently. 
  
  Please be advised that OppFis fraud team investigated the loan you stated was taken out fraudulently. After a thorough investigation regarding your complaint of identity theft, it was determined that the $3,000.00 loan taken out on June 18,2024, was unauthorized and fraudulent. Accordingly, the loan charge and any related charges have been removed. The credit reporting agencies will be notifiedthat the loan account was tied to a fraud finding by our company, and as a result, the tradeline will be removed.These actions have been made pursuant to the Fair Credit Billing Acts amendments to the Truth in Lending Act, 15 U.S.C. 1666-1666b, 12 C.F.R. *******. See also 12 C.F.R. 1026.12(b). OppFi will also be sending you an email advising you of the fraud finding to the email you indicated on your Better Business Bureau complaint.
  
  We hope this resolves all concerns, but if you have additional questions, please reach out to OppFi at ************* or me directly at  ***********************************.
  Sincerely,
  
  *****************************
  Compliance Manager, Complaints
  OppFi, LLC
  

  
  

• Initial Complaint

  07/02/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Opp loans notified me that my loan had been paid back in full. However they are continuing to withdraw money from my account without providing me with paperwork on these charges. I've paid over $3000 to this company.

  

  Business response

  07/09/2024

  July 9, 2024
  
  RE:Ref No. 21931398
  
  We are in receipt of the complaint you submitted to the Better Business Bureau and appreciate the opportunity to respond. In the complaint, *************************, you assert that your loan has been paid in full,however payments are being drafted from your bank account.  For resolution,you have requested a billing adjustment.
  At OppFi, we take all complaints seriously, as we strive to provide exceptional service at every touchpoint. In response to your complaint, OppFi has thoroughly researched this matter. According to our records, you received four loans from ********************* (FEB) using the OppFi platform. The first two loans have been paid in full.  You refinanced your third loan and your current loan is active and past due.
  *************************, you secured your most recent loan in the amount $3,000.00, on January 24,2024.  The loan required a total of nine monthly payments in the amount of $539.06.  The proceeds from this refinanced loan were distributed in two parts with $2,029.42 being deposited into the bank account you provided on your application and $970.58 was used to satisfy a previous loan. You made five successful payments towards the loan and one unsuccessful payment.  The unsuccessful payment was due to insufficient funds.  The loan is currently past due in the amount of $539.06.
  
  Regarding your requested resolution for a billing adjustment, unfortunately, we are unable to do so.  As stated above the loan requires a total of nine monthly payments, you have made five successful payments and missed your payment scheduled for June 1, 2024, due to insufficient funds.  Your loan is currently past due in the amount of $539.06, with an outstanding balance in the amount of $1,894.49.
  
  We hope this resolves all your concerns, but if there are additional questions, please reach out to OppFi at ************** or me directly at *********************************.
  
  Sincerely,
  ***********************
  Regulatory Complaints Associate
  Opportunity Financial, LLC
  
  
  
  
  
  
  
  
  
  
  
  

• Initial Complaint

  06/24/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have a negative item on my credit report for a loan from OPP loans that was never taken. They state I took a loan out in 2020 for over $2300.00 but can only provide me with their collections letter while I had asked for the date of the loan, documents relating to that loan, etc. NOTHING. This is still affecting my credit and I want Opp Loans to make amends and fix this issue.

  

  Business response

  06/28/2024

  June 28, 2024
  
  Re: BBB Complaint: ********
  
  This is the response of Opportunity Financial (OppFi) to the Better Business Bureau complaint #******** made by *********************** on June 24, 2024.  In the complaint, you are disputing the debt with OppFi that is shown on your credit report. 
  At OppFi, we take all complaints seriously as we strive to provide exceptional service at every touchpoint. In response to the Complaint, we thoroughly researched the matter, and according to our records, you received a loan from OppFi, which has been written/charged off.   
  ***********************, you obtained your loan on September 28, 2020, in the amount of $2,400.00 which required a total of forty weekly payments in the amount of $105.43, with the first payment due on October 6, 2020.  You made two successful payments towards the loan and one unsuccessful payment.  Your payment scheduled for October 20, 2020,was unsuccessful due to the bank account on file being closed.  Due to the bank account on file being closed OppFi did not attempt any other payments. The loan was written/charged off on January 18, 2021. 
  OppFis credit reporting team confirmed the first delinquency was reported on November 19, 2020. Regarding your claim of not applying for the loan, OppFis fraud department investigated your account. The investigation found the name, address, phone number and email address provided on your Better Business Bureau complaint matches that on the OppFi account. The phone number on the OppFi account as well as the bank account is registered in your name.  There was no evidence of fraud found.  The account is accurately being reported as written/charged off as of January 18,2021.
  In the complaint, you are disputing the debt with OppFi. The Installment Loan Agreement Promissory Note and Disclosure Statement (The Agreement) was executed by you on September 25, 2020. By signing the Agreement, you acknowledged that you read, understood, and agreed to all the terms of the loan.
  We hope this resolves all your concerns, but if there are additional questions,please reach out to OppFi at ************** or me directly at *********************************.
  
  Sincerely,
  ***********************
  Regulatory Complaints Associate
  Opportunity Financial, LLC
  
  
  
  
  
  
  
  
  
  
  
  

• Initial Complaint

  06/24/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  A 1400$ Loan was given and signed for by OPPLOANS. OPPLOANS has recieved 4 payments of ****** on time by the due dates present in the contract. On each four payment receipts they have divided each payment by interest and by principal. The principal amounts equal a total of 154.19$ the remaining balance after the last payment was accurate and changed to an inaccurate amount of 1300$ in remaining balance. The interest on the payments made differed in high manner (Receipt's). The interest in those payments equals a total of 334.15$. The total amount stating payed within the four receipts equal 488.34$ inaccurate of the payment receipts stating a payment of ******$ each. The remaining balances on the receipts provided do not match up to the charges stated in the receipts provided or the balance remaining on the loan.

  

  Business response

  06/27/2024

  June 27, 2024
  
  Re: BBB Complaint: ********
  
  Dear *************************************,
  This is the response of Opportunity Financial,LLC ("OppFi") to the Better Business Bureau complaint referenced as ******** (the Complaint) made on June 24, 2024. In the Complaint, you state that OppFi has received four (4) on-time payments of $124.44 with a total of $154.19 being applied towards the principal. Additionally, the remaining balance after the last payment was accurate, but then changed to an inaccurate amount of $1,300.00. You further assert that the interest on the payments made differed in a higher manner and the interest for those payments equals a total of $334.15. However, you claim that the total amount paid according to the receipts is $488.34 but is inaccurate. Furthermore, you state that the remaining balances on the receipts provided do not match up to the charges stated or the balance remaining on the loan. For a resolution, you have requested to cancel and remove the debt owed from your credit report and have included a disputed amount of $497.76.
  FinWise Bank (FinWise) is a ****-insured, Utah chartered bank. FinWise contracts with OppFi to offer small-dollar installment loans to consumers with less than perfect credit history. In the relationship,FinWise is the lender and OppFi is the technology provider. FinWise originates the loan and provides funds to the consumer. OppFi is contracted to provide the application platform facilitating loan origination for FinWise, as well as services the loan on behalf of FinWise after the origination. As an ****-insured,Utah chartered bank, ******************* regulators are the **** and *************** of Financial Institutions.
  At OppFi, we take all complaints seriously as we strive to provide exceptional service at every touchpoint. In response to your complaint, we have thoroughly researched this matter. According to our records,you received one (1) loan from FinWise, using the OppFi Platform, (the subject of this complaint) which is active and in good standing with an outstanding balance in the amount of $1,316.81.
  Our records indicate you received your loan on April 17, 2024, in the amount of $1,400.00 which required a total of twenty (20) bi-weekly payments in the amount of $124.44, with the first payment due on May 3, 2024. You have made four (4) successful payments of $124.44, with the last payment being made on June 14, 2024.
  In the Complaint, you state that the remaining balance after the last payment was accurate, but then changed to an inaccurate amount of $1,300.00. You further assert that the interest on the payments made differed in a higher manner and the interest for those payments equals a total of $334.15. However, you claim that the total amount paid according to the receipts is $488.34 but is inaccurate. Furthermore, you state that the remaining balances on the receipts provided do not match up to the charges stated or the balance remaining on the loan.
  Please keep in mind that interest is added to the loan daily, and you may see fluctuations and increases in your balance day to day. However, all the interest you are scheduled to pay has already been calculated and divided among the twenty (20) payments you agreed to make. At the beginning of your loan, you will notice more of your payment is applied towards interest, however as you continue to make your payments on time as scheduled, the balance will start to diminish. We have attached a copy of the detailed loan payment transaction history for your review which will show the payments being applied, the amounts applied to principal and interest, the number of days between payments and the principal balance.
  Additionally, OppFis credit reporting team has not received any indirect or direct disputes on your behalf. OppFis credit reporting team has verified with all three bureaus that all reported information is accurate, and the account reflects as Current/Active.
  Regarding your request to cancel and remove the debt owed from your credit report, we are unable to do so as OppFi is required by the Fair Credit Reporting Act to report accurate and complete information to credit bureaus unless we know or have reasonable cause to believe the information is inaccurate. Therefore, we are unable to remove this from your credit report as the information is accurate.
  We hope this resolves all concerns, but if you have additional questions, please reach out to OppFi at ************** or me directly at **********************************.
  Sincerely,
  *********************
  Regulatory Complaints Analyst
  Opportunity Financial, LLC

• Initial Complaint

  06/20/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I DO NOT HAVE A CELL PHONE SO THEY CAN NOT DUE BUSINESS WITH ME ANYMORE!

  

  Business response

  06/25/2024

  June 25, 2024
  
  Re: BBB Complaint: ********
  Dear *************************,
  This is the response of Opportunity Financial,LLC ("OppFi") to the Better Business Bureau complaint referenced as ******** (the Complaint) made on June 20, 2024. In the Complaint, you state that OppFi would not accept your refinance application as you do not have a cell phone.You further state that you used a landline to open an account years ago.
  First *************** (FEB) is an ****-insured, Utah chartered bank. FEB contracts with OppFi to offer small-dollar installment loans to consumers with less than perfect credit history. In this relationship, FEB is the lender and OppFi is the technology provider. FEB originates the loan and provides funds to the consumer. OppFi is contracted to provide the application platform facilitating loan origination for FEB, as well as services the loan on behalf of FEB after the origination.As a ****-insured, Utah chartered bank, FEBs ********** regulators are the **** and *************** of Financial Institutions.
  At OppFi, we take all complaints seriously, as we strive to provide exceptional service at every touchpoint. According to our records, you received one (1) loan from FEB, using the OppFi Platform, which is currently active and in good standing. You also applied for a refinance loan (the subject of this Complaint), on June 20, 2024, in the amount of $1,600.00.
  In the complaint, you state that OppFi would not accept your refinance application as you do not have a cell phone. We are very sorry to hear that you had difficulties, as a valued customer this is not the experience,we wish for you to have.
  After reviewing your account, our records indicate that on June 20, 2024, you contacted OppFi to inquire if your application was approved and advised there was a message stating there was a security freeze on your credit report, but you had removed the freeze. It was advised that the application was now good to go, and the next step would be to verify the account. A link was emailed to you to verify the account information, and it was advised once verified, you would be contacted within the next few hours. You inquired about increasing the loan amount and the representative advised an offer would be sent and there would be an option to increase the amount.
  That same day you called back to say that while completing the bank verification, you were asked for a phone number, but you stated your phone is a landline so a code could not be sent, and you were receiving a message that the phone number was not valid. It was advised the bank sends the code and it was suggested that you contact the bank so the code could be emailed to you.
  You contacted OppFi once more on June 20, 2024, to say you tried to refinance but you dont have a cell phone and you contacted your bank to get authorization to give to OppFi. You stated you have the authorization/number the bank provided to you. The representative advised you to go to the website, but you stated when you try, it asks for a phone number,and the only phone number you have is a landline which is not accepted.  It was advised that OppFi cannot move forward without a phone number on the application. You stated you gave your phone number, and it just cant receive a text. The representative advised a code would need to be sent to your phone once the bank verification is complete as it is a requirement.
  After thoroughly reviewing your account, we can confirm that as of June 20, 2024, you were able to successfully complete the bank verification. However, we see that your refinance loan application ending in ****0272 was withdrawn per your request the same day, effective June 20,2024, due to the amount offered not being enough. An email confirmation regarding the withdrawal request was sent out to you on June 20, 2024.
  Please be advised that the actual approved loan amount and terms are dependent on standard underwriting guidelines and credit policies. We apologize for any inconvenience this may have caused you at this time. If you are still interested in refinancing, you may reapply by visiting opploans.com/.
  We appreciate your valuable feedback, as it will help us to improve our services. We hope this resolves all concerns, but if you have additional questions, please reach out to OppFi at ************** or me directly at **********************************.
  Sincerely,
  *********************
  Regulatory Complaints Analyst
  Opportunity Financial, LLC

• Initial Complaint

  06/18/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I am not liable for this debt with First Electronic, I do not have a contract with OppLoans. They did not provide me with the original contract as I requested.

  

  Business response

  06/25/2024

  June 25, 2024

  
  Re: BBB Complaint: ********

  
  Dear ***************************,

  
  This is the response of Opportunity Financial, LLC ("OppFi") to the complaint you submitted to the Better Business Bureau (BBB) on June 18. 2024,referenced as ******** (the Complaint). In the Complaint, you state that you are not liable for this debt, as you were not provided with the original contract. For a resolution, you have requested to have this deleted from your credit report and be provided with validation of the debt.

  
  First *************** (FEB) is an ****-insured, Utah chartered bank. FEB contracts with OppFi to offer small-dollar installment loans to consumers with less than perfect credit history. In this relationship, FEB is the lender and OppFi is the technology provider. FEB originates the loan and provides funds to the consumer. OppFi is contracted to provide the application platform facilitating loan origination for FEB, as well as services the loan on behalf of FEB after the origination. As a ****-insured, Utah chartered bank, FEBs ********** regulators are the **** and *************** of Financial Institutions.

  
  At OppFi, we take all complaints seriously, as we strive to provide exceptional service at every touchpoint. In response to the Complaint, we have conducted a thorough investigation and according to our records, you received one (1) loan (the subject of this Complaint) from First *************** using the OppFi platform, which has an outstanding balance and has been written off.

  
  Our records indicate that you received the loan on March 17, 2022, in the amount of $2,000.00, which required a total of twenty (20) bi-weekly payments in the amount of $171.94, with the first payment due on March 25, 2022. You made thirteen (13) successful payments, along with twelve (12) unsuccessful payments, that were returned due to insufficient funds. Your last successful payment was made on November 18, 2022, and due to nonpayment thereafter, OppFi began sending you emails regarding your account status. You never responded to those emails;therefore, your account was then charged off on March 2, 2023, in the amount of $2,005.14. Due to no further communication regarding your account status, your account was then placed with True Accord on December 4, 2023, to collect the outstanding balance.

  
  In the Complaint, you state that you are not liable for the debt and were not provided with the original contract. Please be advised that OppFi has not received any request from you regarding providing any validation of debt until we received your Better Business Bureau Complaint on June 18, 2024. Please be advised that the Promissory Note and Disclosure Statement (the Agreement) under section 15 titled Credit Reports, states that You understand and agree that we may obtain credit reports on you on an ongoing basis until this Note is paid in full. You also understand that we may report your performance under this Note to credit reporting agencies. Late payments, missed payments, or other defaults on your loan may be reflected in your credit report.

  
  Please be advised that by accepting the $2,000.00 loan on March 17, 2022, and signing the Promissory Note and Disclosure Statement (the Agreement), you acknowledged that you read, understood, and agreed to all the terms of the loan. The Agreement is attached hereto.

  
  Additionally,you contacted OppFi on June 18, 2024, regarding the account status. On that call, you verified your personal information and stated that you were not acknowledging the debt, however, you did want to talk about a settlement agreement. You were advised that your loan was now with True Accord and would need to contact them directly regarding a settlement agreement and were provided with their number. You understood and disconnected the call.

  
  Furthermore,OppFis credit reporting team has not received any indirect or direct disputes on your behalf. OppFis credit reporting team has verified with all three (3)bureaus that all reported information is accurate, and you are currently being reported as charged off.

  
  Regarding your requested resolution to have this loan deleted from your credit report, we are unable to do so, as OppFi is required by the Fair Credit Reporting Act to report accurate and complete information to credit bureaus unless we know or have reasonable cause to believe the information is inaccurate.

  
  We hope this resolves all concerns, but if you have additional questions, please reach out to OppFi at ************** or me directly at ***********************************.

  
  Sincerely,
  *****************************
  Compliance Manager, Complaints
  Opportunity Financial, LLC

*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. ↩