ComplaintsforNC Financial Solutions, LLC

• Initial Complaint

  07/04/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  A hard I inquiry from NetCredit was put on my report on 6/21 for TransUnion. There wasn't supposed to be any hard inquiry plus the portal said I was approved and then email said I wasn't.This inquiry need to be removed from my credit report.

  Business response

  07/11/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by *************************. As we understand it, Mr. ******** concerns are regarding his recent experience applying for a NetCredit loan product.
  

  As an initial matter, we previously responded to a Consumer Financial ***************** (CFPB) complaint and address Mr. ******** concerns.
  

  As mentioned, on June 17, 2024 and June 21, 2024, ****************** visited our website, www.netcredit.com, and proceeded to check his eligibility for a NetCredit loan product. After providing some general information to us via the website,***************** received an offer to apply for a NetCredit open-ended line of credit with NetCredits bank partner, ************* & ************* (*************), which is serviced by NetCredit. Contrary to his assertion, he was not advised that he was approved for a line of credit.

  ****************** opted to move forward with the process and applied for the line of credit. As part of the application process, consumers must authorize NetCredit and/or Republic to obtain credit reports from consumer reporting agencies. When he signed the contract and pursued the loan, a hard inquiry was made on his credit report.  For more information on the use of information provided by credit bureaus in conjunction with a loan application, please visit ******************************************.
  

  After careful consideration, it was determined that ****************** did not meet our underwriting requirements for a NetCredit loan. Mr. ******** application was ultimately denied for a NetCredit loan product, and a notice of adverse action (NOAA) was sent as required by law, informing him of the principal reason(s)his loan application was not approved.
  

  We would like to clarify that ****************** received notification after his second application attempt on June 21, 2024 advising that he was eligible for a loan that was less than the amount he applied for. As he did not accept the offer and he did not complete the necessary verifications successfully, the offer expired. Please note that if he had accepted the offer and the complete the necessary verifications, his application may still have been declined.  Again, the notice of eligibility to apply for a loan is not a guarantee.  
  

  If ****************** has any additional questions regarding this matter, we ask that he please contact our customer service department at ************, Monday Friday, 8:00AM 8:00PM CT or Saturday Sunday, 9:00AM 5:30PM CT.

  Customer response

  07/11/2024

   
  Complaint: 21942375
  
  I am rejecting this response because it is a sad reality of the world we live in. Net credit did hold up their end and then are lying about the application process. There is really is no shame in those who practice wickedness. I guess God is the only one that ***********************************************************

  Business response

  07/17/2024

  Thank you for forwarding the additional correspondence to our attention. As we understand it, Mr. ******** concerns are regarding his application experience for a NetCredit loan product.
  

  As mentioned in the previous response, ****************** received an offer to apply for a NetCredit opened-ended line of credit with NetCredits bank partner, ************* & ************* (*************), which is serviced by NetCredit. He opted to move forward with the application process for a NetCredit line of credit and received notification after his second application attempt on June 21, 2024 advising that he was eligible for a loan that was less than the amount he applied for. As he did not accept the offer and he did not complete the necessary verifications successfully, the offer expired. Please note that the notice of eligibility to apply for a loan is not a guarantee that he will be approved for the line of credit. If ****************** had accepted the offer and completed the necessary verifications, his application may still have been declined.

  If ****************** has any additional questions regarding this matter, we ask that he please contact our customer service department at ************, Monday Friday, 8:00AM 8:00PM CT or Saturday Sunday, 9:00AM 5:30PM CT.

  
  

  Customer response

  07/17/2024

   
  Complaint: 21942375
  
  I am rejecting this response because it is still incorrect information. Is there any proof or documents of your claim?
  
  Sincerely,
  
  *************************

• Initial Complaint

  07/02/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have been given conflicting information. Despite having my credit pulled, I have been denied twice for seemingly fabricated reasons. Like could not verify identity. Not true! I submitted all necessary documents. I have given what you ask for them you come back and said oh have it notarized. This is now the third time and now Im stuck in the processing stage with no update. it should be approved this time, with me giving them everything that theyre asking for.

  Business response

  07/12/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by *********************.  As we understand it, ***** is displeased that Averys application for a NetCredit loan product was denied.
  

  Between June 29, 2024, and July 4, 2024, ********************* has submitted five (5) applications with NetCredits bank partner,Transportation ******************* dba TAB Bank, to be serviced by NetCredit **** Services, LLC. These applications were submitted either directly on the NetCredit website or through our marketing partner, Even Financial.
  

  After careful consideration,it was determined that ***** did not meet the underwriting requirements for a NetCredit loan, and the applications were denied. As required by law, a notice of adverse action (****) was sent for each declined application informing ***** of the principal reason(s) these loan applications were not approved.
  

  In evaluating Averys application, the credit reporting agencies(CRA) listed on the **** provided us with information that in whole, or in part, influenced the decision. For more information on the use of information provided by credit bureaus in conjunction with a loan application, please visit ******************************************.
  

  Please note, we provide a thorough verification process in order to ensure responsible lending. During our underwriting process, we use a variety of tools and techniques to verify identity, employment, banking information, and overall financial health. A review of each of Averys applications confirms that the applications were reviewed uniformly with our proprietary underwriting model/standards and that ***** received the correct adverse action reason(s) in each instance.
  

  Further in our review, on July 9,2024, a member of management called ***** to address the concerns ***** mentioned in the complaint and advised of the aforementioned information.
  

  If ***** has any additional questions regarding this matter, we ask that they please contact our customer service department at ************, Monday Friday, 8:00 a.m. 8:00 p.m. CT or Saturday Sunday, 9:00 a.m. 5:30 p.m. CT.
  
  
  
  
  
  

  
  

  Customer response

  07/12/2024

   
  Complaint: 21932572
  
  I am rejecting this response because: this company had me run through hopes for nothing. Please remove inquiry on my credit report. 
  
  Sincerely,
  
  *********************

  Business response

  07/18/2024

  Thank you for forwarding the customers correspondence to our attention.
  

  ********************* opted to move forward with the process and applied for the line of credit, as outlined in the original response. As part of the application process, consumers must authorize NetCredit and/or TAB Bank to obtain credit reports from consumer reporting agencies.  When ***** signed the contract and pursued the loan, a hard inquiry was made on Averys credit report.  For more information on the use of information provided by credit bureaus in conjunction with a loan application,please visit ******************************************.
  

  As mentioned, we provide a thorough verification process in order to ensure responsible lending. During our underwriting process, we use a variety of tools and techniques to verify identity, employment, banking information, and overall financial health. Unfortunately,***** did not meet the underwriting requirements.
  

  If ***** has any additional questions regarding this matter, we ask that they please contact our customer service department at ************, Monday Friday, 8:00 a.m. 8:00 p.m. CT or Saturday Sunday, 9:00 a.m. 5:30 p.m. CT.
  

  
  

  Customer response

  07/19/2024

   
  Complaint: 21932572
  
  I am rejecting this response because: this company is a joke. You guys never call anyone back. You had me going around circles when you all knew you wasnt going to approve me. 
  
  Sincerely,
  
  *********************

• Initial Complaint

  07/01/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I revoked authorization to my bank account. This company continued to pull from that account for months and refused to refund me. I finally got my bank to refund a few of the charges, but not all. They are now harassing me, calling me all day everyday off new numbers, even after refusing authorization for contact with them. I applied for a loan and saw that their fees would cost me much more than the loan I was needing, over $200 in fees per month, along with interest, and only around $10 going towards the principle. They are now falsely reporting to my credit report and also, still trying to pull from my bank account but my bank has blocked the charges.

  Business response

  07/11/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by *****************************.  As we understand it, ******************** has an inquiry about her line of credit account.
  

  On February 10, 2024, ******************** opened a $2,300.00 line of credit, offered by ************* & ************* (*************) and serviced by NetCredit. ************* is a Kentucky-chartered, federally insured bank. Federal law (Section 27 of the ************************* Act and 12 U.S.C. 1831d) permits state-chartered insured depository institutions to charge interest and/or fees at the highest rateallowed by the laws of the state where the institution is located.Since ************* also maintains a presence and banking center in ****, federal law permits it to export interest rates and/or fees that comply with Ohio law.
  

  When she applied for the line of credit, she was presented with and required to agree to the Republic Credit Agreement and Terms and Conditions (Agreement) if she wanted to proceed with the application process; she acknowledged her acceptance by providing her electronic signature on the application dated February 10, 2024.  ******************** can access a copy of her Agreement at any time by signing into her online account at www.netcredit.com.
  

  We would note that the top of the Agreement states, HIGH COST CREDIT DISCLOSURE. THIS IS AN EXPENSIVE FORM OF CREDIT. IT SHOULD BE USED FOR SHORT-TERM FINANCIAL NEEDS, NOT AS A LONG-TERM FINANCIAL SOLUTION. OTHER CREDIT OPTIONS MAY BE LESS EXPENSIVE.
  

  This Agreement also outlines, in detail, all the terms of the account. Specifically, section IV of the Agreement defines and describes the two types of fees associated with the line of credit.A Cash Advance Fee is the Finance Charge charged for each Cash Advance at the time a Cash Advance is requested, as disclosed in the Account Opening Disclosure in Section I. The Cash Advance Fee is 10% of the amount of the Cash Advance.  A Statement Balance Fee is assessed for each Billing Cycle where the Cash Advance Balance, as displayed on the statement, is greater than $25.00. Section V. of the Agreement also describes how minimum required payments are calculated; the minimum amount due on each due date will be 2.5% of the ending Cash Advance balance plus the Statement Balance Fee for that cycle. The Agreement also includes details regarding how payments are applied and that we may report information about the account to ********************** bureaus and that late payments, missed payments, or other defaults on the account may be reflected in her credit reporting.
  

  A minimum payment is due every billing period that carries a balance.  Whenever a billing period closes, ******************** receives an email notification that her statement has been generated. This statement will detail her scheduled payment obligations, including the due date and minimum payment amount. ******************** has the right to make a payment in advance in any amount and at any time without penalty. Additional or larger payments generally may reduce the statement balance fees incurred, which is also set forth in Ms. ********* Agreement. 
  

  Please be advised that ******************** signed an Automated Clearing House (ACH) authorization allowing debits and credit to be made to her Heritage Federal Credit ********** account ending in 9966. Please note, on April 17, 2024, ******************** contacted the NetCredit customer support team and requested to update her bank account details. As such, a new ACH authorization was received for her ********************** account ending in 4031. A confirmation email was sent to ********************. Contrary to her assertion, our records do not indicate that she has contacted the NetCredit customer support team requesting a refund.
  

  Since establishing the NetCredit line of credit, ******************** has requested two (2) cash advances. A cash advance was requested on February 10, 2024 and funded to Ms. ********* Heritage Federal Credit ********** account ending in 9966. In addition, a cash advance was requested on May 20, 2024 and funded to Ms. ********* ********************* account ending in 4031.
  

  On June 5, 2024, ******************** logged into her online account and requested a cash advance, however, later that same day ******************** contacted the NetCredit customer support team and requested to cancel/rescind the cash advance request. Therefore, the cash advance was cancelled.
  

  On June 6, 2024, ******************** contacted the NetCredit customer support team and requested to revoke our ACH authorization. As such, we honored her request and contrary to her assertion,NetCredit has not attempted to debit either bank account since June 6, 2024.
  

  ******************** has failed to make the required payments under her Agreement. As such, our collection efforts have been initiated. Contrary to her assertion, our records do not indicate that she requested to cease telephone communication, however, we have since updated our records.
  

  On June 26, 2024, ******************** was sent a Notice of Right to Cure Default informing her of her right to cure her default by paying $811.96 and all required Minimum Payments on her due dates as shown on her Statements since the date of the notice.  The notice explained these payments needed to be received before July 29, 2024, or her entire outstanding balance would become immediately due (accelerated).
  

  As part of the loan process, account activity will be sent to the consumer reporting agencies (CRAs).
  

  Our review of Ms. ********* line of credit account and the performance information we sent to the consumer reporting agencies indicates that we reported accurate information concerning the repayment history and status of Ms. ********* account. As we are required to report accurate information, we are unable to fulfill the request of altering or deleting accurate credit reporting.
  

  If ******************** has any additional questions regarding this matter, we ask that she please contact our customer service department at ************, Monday Friday, 8:00AM 8:00PM CT or Saturday Sunday, 9:00AM 5:30PM CT.

• Initial Complaint

  06/29/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Received an email about an application I put in for funds. I called the company and told them it was fraud. Instead of them terminating Tha application they continued to ask questions and I didnt give n e more info they are also using an address of my deseased mom

  Business response

  07/15/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by *****************************. As we understand it, ****************** asserts that she is the victim of identity theft.
  
  If ****************** is wishing to proceed with filing an identity theft claim with our institution, we ask that she file a police report and provide a full copy to NetCredit via email or fax to:
  
  NetCredit
  Fax: ************
  Email: *******************************************
  
  Additionally, if ****************** believes that she is a victim of identity theft, we strongly encourage she file an identity theft report online with the ************************ (***) at ******************************. The *** can provide suggestions on how to protect her personal identification information going forward and how to alert other agencies, such as credit bureaus, that her identity information may be compromised.
  
  If ****************** has additional concerns about this matter, we ask that she please contact our service team at her earliest convenience. While we understand she has concerns about providing information to us,we would like to reiterate that she will need to provide an account number (available in the emails she references in her complaint) and/or personal identifiable information in order for us to assist her.  Our customer service departments phone number is ************.  Please note the hours of operation are Monday Friday 8AM 8PM CT and Saturday Sunday 9AM 5:30PM CT.
  
  We look forward to hearing from ****************** in the coming days so that we can assist with addressing any questions or requests that she may have regarding the application in question.

• Initial Complaint

  06/27/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  On June 26th, 2024 I was contacted from a phone number, ************ calling saying they were from ******* ******* company).The person on the phone stated that it was a business matter and then proceeded to ask me to verify my name and date of birth. The person then said they would be transferring me to someone else related to this business matter.Another call was incoming on the other line from ************ and this person also stated they were from *******. They also confirmed my full name and verified my Date of Birth. Somehow the call was disconnected. I called the number back and some man answered and stated again saying they were from ******* and then again verified my information. I thought this was ***** telling me they needed to reschedule a service date. Later in the call he stated he was with Net Credit and explained that they are attempting to collect a debt. This interaction was strange and I disengaged the call.Per *****, Section 807:False and Misleading Representations, line 10 & 14, (10)The use of any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a consumer.(14) The use of any business, company, or organization name other than the true name of the debt collector's business, company, or organization.Regardless of the attempt to collect debt, this business is violating debt collecting practices with misleading representations of themselves. After that interaction, I called ***** *******) customer support directly and spoke to a "*****" and she stated no one from their customer support team reached out to me (June 26, 2024) and that the appointment time and date were still scheduled.I called back to the ************ phone number, and a man answered, "This ******* from *****."I am currently seeking legal counsel and filing a formal complaint with the ************************ to check if Net Credit is violating the ***** in their practices to collect on debts.

  Customer response

  06/29/2024

  
  Better Business Bureau:
  
  The Business has addressed my concerns outside of addressing the BBB in reference to complaint ID ********. My issue is resolved and my complaint can be closed. 
  
  Sincerely,
  
  *********************************

• Initial Complaint

  06/24/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Who us trying to takeout loans in my name. I'm contacting an attorney on this and also filing a police report on this company, this is the 9th time someone is trying any I want this stopped as of today with this. I've contacted you several times on this matter, sent in police report and it's still continuing. Received email from you stating this would go to the proper person and nothing is is getting done. THIS IS FRAUD I'm also reporting this to the credit bureau. I've been contacting NetCredit and requesting that my name and all personal information get removed from there system, police report been sent in and this is the 9 time some one is trying to take a loan out in my name and this company is refusing to do so, I ask for phone number to there legal department and they wouldn't give me that either since last week

  Business response

  07/05/2024

  We received the complaint sent to the Better Business Bureau (BBB) by ***********************************. As we understand it,******************** is asserting that she is the victim of identity theft.
  

  On August 27, 2023 and June 20,2023, someone identifying themselves as ******************** submitted six (6)applications for a NetCredit loan, issued by ************* & Trust Company (*************) and serviced by NetCredit either directly through the NetCredit website or through a third-party lead provider/website.  The applications have been submitted via various third-party lead providers/websites, such as Leads Market for example.This person has provided Ms. ********* personal information such as date of birth and social security number. As part of the application process, consumers must authorize NetCredit and/or ************* to obtain credit reports from consumer reporting agencies. The application was ultimately declined as it did not meet our underwriting requirements for a NetCredit loan.
  

  On June 20, 2024, ******************** contacted the NetCredit customer support team to assert that she did not authorize the loan applications and has been the victim of identity theft. In accordance with our policy, she was asked to file a police report and provide a full copy to us so that we could begin an internal investigation.  On June 21, 2024, ******************** submitted the required documentation, completed our investigations and concluded the claim was valid.  As such, we updated our records and contacted the credit-reporting agency and furnished the corrected information to them. We ask that ******************** please allow 30 days for the correct information to reflect her credit report.  On June 24, 2024, we sent ******************** an email explaining the outcome of the claim.
  

  Additionally on June 20, 2024, we deactivated the online NetCredit profile that was created on her behalf,however, NetCredit cannot take action by preventing someone from applying through third-party providers/websites. 
  

  Since ******************** is a victim of identity theft, we strongly encourage she file an identity theft report online with the ************************ (***) at ******************************. The *** can provide suggestions on how to protect her personal identification information going forward and how to alert other agencies, such as credit bureaus, that her identity information may be compromised.
  

  If ******************** has any additional questions regarding this matter, we ask that she please contact our customer service department at ************, Monday Friday, 8:00AM 8:00PM CT or Saturday Sunday, 9:00AM 5:30PM CT.

  Customer response

  07/08/2024

   
  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

  06/24/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This item [REPUBLIC BANK/NETCREDIT] maintains its inaccuracies and refuses to update its status from "charged-off account" to "paid charge-off." Their inability to maintain updated status on my credit report encumbers me with great financial grievances. The item [REPUBLIC BANK/NETCREDIT] shows account closed on Oct 15, 2023, and on Nov 29, 2023, I paid $913.60 to the ***************** [NCB ********** Services Incorporated] who bought the loan from [REPUBLIC BANK/NETCREDIT].

  Business response

  07/11/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by *********************.  As we understand it, ************** is requesting Netcredit update information on his credit report.
  

  On June 26, 2021, ************** opened a $1,150.00 NetCredit line of credit, offered by ************* & ************* (*************) and serviced by NetCredit. 
  

  When he applied for the line of credit, he was presented with and required to agree to the Republic Credit Agreement and Terms and Conditions (Agreement).  As set forth in his Agreement, he is required to pay at least the minimum payment every billing period in which there is an account balance.  Additionally, the Agreement advised that we may report information about the account to ********************** bureaus and that late payments, missed payments, or other defaults on the account may be reflected in his credit reporting. ************** acknowledged his acceptance by electronic signature on the application dated June 26, 2021.  ************** can access a copy of his Agreement at any time by signing into his online account at www.netcredit.com.
  

  Since establishing the line of credit, three (3) cash advances have been requested.However, ************** has failed to make the required payments under his Agreement. As part of the loan process, his account activity was sent to the consumer reporting agencies (CRAs).
  

  On June 22, 2023, a Notice of Right to Cure Default was sent to ************** notifying his of his right to cure the default balance by paying $316.02 before July 24, 2023 to prevent his entire outstanding balance from accelerating and becoming immediately due.
  

  Mr. ****** entire outstanding balance was accelerated due to non-payment of past-due amounts, and the entire balance for his line of credit totaling $1,141.98, which includes all amounts owed on his line of credit became due on September 05, 2023.
  

  On November 27, 2023, Mr. ****** line of credit account was sold to a third-party debt buyer, NCB ********** Services (NCB) due to continued non-payment of the past due amounts. As a result,NetCredit is no longer servicing Mr. ****** line of credit account since it is not currently owned by *************. Therefore, inquiries regarding Mr. ****** account after it was sold should be directed to NCB their contact number is ************.
  

  Our review of Mr. ****** line of credit account and the performance information we sent to the consumer reporting agencies indicates that we reported accurate information concerning the repayment history and status of Mr. ****** account during the period that the account was owned by *************. As we are required to report accurate information, we are unable to fulfill the request of altering or deleting accurate credit reporting.
  

  Please note, although ************** asserts that he has paid off his account balance with NCB, he did not pay the account balance with **********************.
  

  If ************** has any additional questions regarding this matter, we ask that ************** please contact NCB directly at ************ for assistance as NCB is the current owner of Mr.****** debt.

• Initial Complaint

  06/22/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I had originally taken out a loan with the company a few years ago. During that time I was making my payments with no issues. My contract with the company I worked for ended and was between jobs for a month. Net credit refused to work with me on the issue even when I told them I was starting another job and needed breathing room for just one month. After this I went to a third part company to consolidate my debt and started making payments which was three times my monthly minimum payment. But because I wasnt paying direct it wasnt good enough for Netcredit. I reached out to the company and they informed me that until the balance is payed off the account would be considered delinquent which was far from the truth. I was also told that anything that was reported to the credit bureau would be taken off the account like it never happened. I called today noticing the it was still showing that for over a year I was delinquent in my payments. I was told I had to provide the proof that the account affected my ********************** score. (Crazy when they are the ones making false claims of delinquency). I then asked for a supervisor and was told I was not allowed to talk to one and they would email me in 24 hours. Which in my experience means Ill never hear from one. All Im asking is for them to right the false claims they made to my credit.

  Business response

  07/03/2024

  We have received the complaint sent to the Consumer Financial ***************** (CFPB) by ***************************.  As we understand it, **************** disputes the accuracy of the credit reporting on his credit file.
  

  On October 13, 2021, **************** opened a $2,600.00 NetCredit line of credit, offered by ************* & ************* (*************) and serviced by NetCredit. ************* is a Kentucky-chartered, federally insured bank. Federal law (Section 27 of the ************************* Act and 12 U.S.C. 1831d) permits state-chartered insured depository institutions to charge interest and/or fees at the highest rateallowed by the laws of the state where the institution is located.Since ************* also maintains a presence and banking center in ****, federal law permits it to export interest rates and/or fees that comply with Ohio law.
  

  When he applied for the line of credit, he was presented with and required to agree to the Republic Credit Agreement and Terms and Conditions (Agreement) if he wanted to proceed with the application process; he acknowledged his acceptance by providing his electronic signature on the application dated October 13, 2021.  **************** can access a copy of his Agreement at any time by signing into his online account at www.netcredit.com.
  

  We would note that the top of the Agreement that was presented and agreed to by **************** states, HIGH COST CREDIT DISCLOSURE. THIS IS AN EXPENSIVE FORM OF CREDIT. IT SHOULD BE USED FOR SHORT-TERM FINANCIAL NEEDS, NOT AS A LONG-TERM FINANCIAL SOLUTION. OTHER CREDIT OPTIONS MAY BE LESS EXPENSIVE.
  

  This Agreement also outlines, in detail, all the terms of the account. Specifically, section IV of the Agreement defines and describes the two types of fees associated with the line of credit.A Cash Advance Fee is the Finance Charge charged for each Cash Advance at the time a Cash Advance is requested, as disclosed in the Account Opening Disclosure in Section I. The Cash Advance Fee is 10% of the amount of the Cash Advance.  A Statement Balance Fee is assessed for each Billing Cycle where the Cash Advance Balance,as displayed on the statement, is greater than $25.00. Section V. of the Agreement also describes how minimum required payments are calculated;the minimum amount due on each due date will be 2.5% of the ending Cash Advance balance plus the Statement Balance Fee for that cycle. The Agreement also includes details regarding how payments are applied.
  

  A minimum payment is due every billing period that carries a balance.  Whenever a billing period closes, **************** receives an email notification that his statement has been generated. This statement will detail his scheduled payment obligations, including the due date and minimum payment amount. **************** has the right to make a payment in advance in any amount and at any time without penalty. Additional or larger payments generally may reduce the statement balance fees incurred, which is set forth in Mr. ******* Agreement. 
  

  Since establishing the line of credit,five (5) cash advances have been requested. However, **************** has failed to make the required payments under his Agreement. As part of the loan process,account activity will be sent to the consumer reporting agencies (CRAs).
  
  On April 1, 2022, we received notification that **************** had retained a debt management company and requested to cease communication with NetCredit.  Therefore, we have honored this request.  In addition, we worked with his debt management company and scheduled a repayment plan. Please note that this arrangement does not replace Mr. ******* Minimum Payments due on his account.
  

  ********************** and his debt management company mutually agreed to a repayment plan for the outstanding balance.
  

  On September 27, 2023, **************** completed the settlement repayment plan. Accordingly, we reported to the credit reporting agencies that the account was open with a zero balance; however, the line was reporting as suspended. As of July 2, 2024, we have now updated the credit reporting to show the account as closed. Please allow ***** days for the credit report to reflect this update. Please note, although **************** paid the settlement, it does not negate payment history that occurred prior to him paying the settlement balance. 
  

  It is important to understand that in regards to credit reporting, the information submitted to the consumer reporting agencies is based upon the contractual obligations signed by our customers. For ********************** reporting purposes, a delinquency is reported when 30 days has elapsed without a payment being made that satisfies a full scheduled payment.
  

  Based on our review, **************** contacted the NetCredit customer support team to inquire about the credit reporting, as such we advised for him to submit a copy of his credit report to clearly identify each item present on his credit report that he wishes to dispute. **************** submitted the required information, and we will investigate his concerns and provide the details of the investigation.
  
  Our review of the loan performance information sent to the consumer reporting agencies indicates that NetCredit is reporting accurate information concerning the repayment history of this loan and status of the account. As we are required to report accurate information, we are unable to fulfill his request to alter credit reporting. 
  
  If **************** has any additional questions regarding this matter, please contact our customer service department at ************, Monday Friday, 8:00AM 8:00PM CT or Saturday Sunday, 9:00AM 5:30PM CT.

  
  

  Customer response

  07/03/2024

   
  Complaint: 21887558
  
  I am rejecting this response because:
  I was told by an employee of Netcredit. That Netcredit would remove all negative marks of missed payment on completion of payment. The fact that this is being ignored and I was told a supervisor would call me to talk about this which they never called me when they said they would. Shows that you guys allow your workers to make false statements to customers. 
  Sincerely,
  
  ***************************

  Business response

  07/13/2024

  Thank you for forwarding the customers additional correspondence to our attention.
  

  As mentioned in the previous response,**************** has failed to make the required payments under his Agreement. On April 01, 2022, we received notification that **************** retained a debt management company and we worked with his debt management company to schedule a repayment plan; however, the arrangement does not replace Mr. ******* Minimum Payments due on his account. Although **************** paid the settlement, it does not negate payment history that occurred prior to him paying the settlement balance.
  

  On April 08, 2022,**************** had a minimum payment due. However, this payment was not satisfied until July 12, 2022. The account remained past due until the final settlement payment was received on September 27, 2023. As mentioned, account activity will be sent to the consumer reporting agencies (CRAs) as part of the loan process. Therefore, his account was reported in a past due status during that time.
  

  As of July 02, 2024, we have now updated the credit reporting to show the account as closed. Please allow ***** days for the credit report to reflect this update. 
  

  As mentioned, our review of the loan performance information sent to the consumer reporting agencies indicates that NetCredit is reporting accurate information concerning the repayment history of this loan and status of the account. As we are required to report accurate information, we are unable to fulfill his request to alter credit reporting. 
  
  We apologize if **************** feels as though he received conflicting information regarding the reporting during the settlement process, as such, his concerns have been escalated for further review. If **************** has any additional questions regarding this matter, please contact our customer service department at ************, Monday Friday, 8:00AM 8:00PM CT or Saturday Sunday, 9:00AM 5:30PM CT.

  
  

  Customer response

  07/15/2024

   
  Complaint: 21887558
  
  I am rejecting this response because:

  I have already reached out multiple times. I was told a supervisor would contact me which they never did. The fact that net credit can lie to a customer with no penalties especially when it affects someones life is dumbfounding. Net credit keeps hiding behind the fact that they considered my payments behind *** never argued that. The fact that they keep targeting this shows me they know they are in the wrong and not willing to remove the negative history from my account which they have full power and does not hurt them to do so. I will be waiting for the supervisor to contact me like I was promised. My number is ************. I expect net credit to hold to the claim that was made by one of their representatives and do the right thing even if what the representative said was not correct. Its not my job to know this. It is there just b to properly train their employees and accept fault when they make a promise to a consumer. Thank you I look forward to seeing net credit do the right thing and hold up to the promise. 
  
  Sincerely,
  
  ***************************

• Initial Complaint

  06/17/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I previously took a line of credit with the merchant NetCredit in the amount of $2,800 however after making monthly payments each and every month totaling $1,756.84 they are stating that I still owe $2,173.16 on the account. I have been paying $298.65 each month for the past six months and now am being advised that on a monthly basis my account is charged a statement balance fee of $10 for every $100 borrowed meaning that every month I am paying $280.00 in fees towards the debt and only $18.85 is being applied to my principal which is why my balance is not being paid down as it should be. This is complete usury and I would like some assistance in resolving this matter. I requested a possible settlement and was advised that the merchant doesnt offer settlements. No additional payments will be made on this account until some resolution is able to be obtained.

  Business response

  06/25/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by ****************************** we understand it, ******** is frustrated with fees and how payments are allocated.
  

  On November 15, 2023, *************************** entered into a Line of Credit Agreement with ********************************************** whereby TAB Bank provided ******** a $2,550.00 line of credit (hereafter ***), to be serviced by NetCredit **** Services, LLC. ******** is a state-chartered financial institution.
  
  Section 27(a) of the ************************* Act, 12 USC 1831d(a), governs the interest and fees that TAB Bank may charge on its loans. It provides that,"notwithstanding any State constitution or statute which is hereby preempted for the purposes of this section," a state bank may "take,receive, reserve, and charge on any loan interest at the rate allowed by the laws of the State where the bank is located ." TAB Bank is located in ****, and Utah law expressly permits any finance charge set forth in the contract between the lender and the consumer. Utah Code 70C-2-101 states "Except where restricted or otherwise covered by provisions of this title,the parties to a consumer credit agreement may contract for payment by the debtor of any finance charge and other charges and fees." The interest and fees charged are appropriate under Federal and applicable State law. 
  
  When ******** applied for the ***,terms were presented and were required to be reviewed prior to accepting the *** offered by TAB Bank. ******** voluntarily accepted the *** through an electronic signature. The Agreement also detailed a minimum payment is due every billing period that carries a balance.
  
  We would also note that the top of the Agreement that was presented and agreed to by ******** states, HIGH COST CREDIT DISCLOSURE. THIS IS AN EXPENSIVE FORM OF CREDIT. IT SHOULD BE USED FOR SHORT-TERM FINANCIAL NEEDS, NOT AS A LONG-TERM FINANCIAL SOLUTION. OTHER CREDIT OPTIONS MAY BE LESS EXPENSIVE. ******** can access a copy of the Agreement at any time by signing into Herschels online account at www.netcredit.com.
  

  This Agreement outlines, in detail, all the terms of the account. Specifically,section IV of the Agreement defines and describes the two types of fees associated with the ***. A?Cash Advance Fee?is assessed for each Cash Advance at the time a customer requests a Cash Advance on their ********************** Account. A?Statement Balance Fee is assessed for each Billing Cycle where the Cash Advance Balance,as displayed on the statement, is greater than $25.00. Section V. of the Agreement also describes how?minimum required payments?are calculated; the minimum amount due on each due date will be 2.5% of the ending Cash Advance balance plus the Statement Balance Fee for that cycle.
  

  Customers are not charged a traditional periodic interest rate. Instead, we charge fees (Statement Balance Fees) for each Billing Cycle in which customers carry an Ending Account Balance greater than $25.00, as mentioned above. In addition, a minimum payment is due every billing period that carries a balance. Additionally,the NetCredit *** applies payments to unpaid statement balance fees first and then to the account balance.
  

  Since establishing the NetCredit ***, ******** has requested one (1) cash advance. Although ******** has made payments toward the account balance, the account balance has been past due since June 3, 2024. As such, our collection efforts have been initiated.
  
  Based on our review, ******** spoke to the NetCredit customer support team in regard to the concerns mentioned in the complaint. As such,******** was advised of the aforementioned information.  
  
  Please note, we are unable to settle the NetCredit ***, however,we are willing to work with ******** to arrange an available repayment plan.
  
  If ******** has any additional questions regarding this matter, please contact our customer service department at ************, Monday Friday, 8:00 a.m. 8:00 p.m. CT or Saturday Sunday, 9:00 a.m. 5:30 p.m. CT.

  
  

• Initial Complaint

  06/06/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I needed a personal loan for an emergency trip overseas, but I did not apply or so go for a loan from Net Credit. I noticed (Im not sure how much time had passed) that they had placed funds in my bank account that I did not ask them for. I contacted Net Credit and paid back the amount that was placed in my account, but they said that I owed them $530 in fees for the loan that I never agreed to. I told them I am not responsible for the $530 fees and will not pay it. I gave them their money back. They said I needed to do an identity theft investigation, which I explained to them several times I can not and will not do, because I am leaving the country for an emergency and can not have my bank accounts frozen at this time. They refuse to listen to me and refuse to waive the fees because they say my name is typed on a document that I did not sign. They repeatedly tell me that a supervisor will call me within 48 hours. It has been well over 10 days and a supervisor has not called. I am not responsible for an extra $530 on a $2000 loan that I did not ask for, when I have given them the $2000 back. Their company is not out anything. I can not and will not pay $530 that I do not owe and they tell me that there is no resolution to this. This company has absolutely terrible customer service and has treated me like they are doing nothing but taking advantage of me to make an extra $530 that I do not owe them.

  Business response

  06/25/2024

  We have received the complaint sent to the Consumer Financial ***************** (CFPB) by ***************************. As we understand it, ***** asserts that ***** is the victim of identity theft.
  

  Our records indicate that someone identifying themselves as *************************** applied for a loan with NetCredits bank partner ***************************** **** dba TAB Bank, on April 23, 2024.This person provided personal information, such as date of birth and social security number. 
  

  Subsequently, *************************** entered into a Line of Credit Agreement with ******** whereby TAB Bank provided ***** a $2,300.00 line of credit (hereafter ***), to be serviced by NetCredit **** Services, LLC. When ***** applied for the **** terms were presented and were required to be reviewed prior to accepting the *** offered by TAB Bank. In addition, ***** signed an Automated Clearing House (ACH) authorization allowing debts and credits to be made toward *********** account.
  

  This Agreement outlines, in detail,all the terms of the account. Specifically, section IV of the Agreement defines and describes the two types of fees associated with the line of credit.A Cash Advance Fee is the Finance Charge charged for each Cash Advance at the time a Cash Advance is requested, as disclosed in the Account Opening Disclosure in Section I. The Cash Advance Fee is 10% of the amount of the Cash Advance. A Statement Balance Fee is assessed for each Billing Cycle where the Cash Advance Balance, as displayed on the statement, is greater than $25.00.
  

  On April 23, 2024, ***** requested one (1) cash advance in the amount of $2,300.00, and $2,070.00 was sent to *********** account due to the Cash Advance fee detailed above. 

  On May 28, 2024, ***** spoke with the NetCredit customer support team and advised that they did not apply for the loan, but did receive the cash advance. In addition, ***** advised that ***** would only return the $2,000.00 cash advance and requested to have the fees waived. In accordance with our policy, ***** was asked to file a police report and provide a full copy to NetCredit to launch an internal investigation. However, ***** did not wish to pursue an identity theft claim.  

  The support representative who was assisting ***** advised ***** the Fees would remain and that the full account balance was $2,530.00. 

  On May 28, 2024, ***** logged into their online account and scheduled a payment of $2,000.00 to return the cash advance.  
  

  Based on our review, Marens concerns were escalated and ***** was again advised of the aforementioned information.
  

  At this time, Marens full account balance is $590.00.   
  

  If ***** has any additional questions regarding this matter, please contact our customer service department at ************, Monday Friday, 8:00 a.m. 8:00 p.m. CT or Saturday Sunday, 9:00 a.m. 5:30 p.m. CT.
  
  

  
  

*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. ↩