ComplaintsforCrane Finance

Loans

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Initial Complaint
08/07/2024
Complaint Type:
Order Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Transaction date: 5/9 Amount paid so far: $1134 Business provided a loan of $650 I was in need of a small loan to pay a small debt. I got approved for $650. The payments were $189 every 2 weeks so I figured I would pay it off quickly. After 6 payments I added the amount I have paid so far and the amount was $1134!! I contacted them to ask why the loan is not paid off yet and that's when they said it's a high finance loan of 700%!!!! I thought there is NO WAY that this is legal. I looked at the Usury laws in my state and it's illegal for them to charge that much. I sent them a dispute and told them I refuse to pay anymore because they've already received all the loan amount plus more, $484 more! They are saying I still have 12 payments left!!!!! That comes out to $2268 more that they want me to pay! After all is said and done I will have paid a total of $3402 for a $650 loan! This is robbery!! How is this allowed? I'm looking into seeing if I can sue and get this company shut down for robbing people and the Usury laws state it's illegal to charge 700% for finance charge. This is illegal in my state and should to be illegal in all states. I will see if I can get a refund on any future payment taken out by this scam of a company. I want payments to stop and this loan to be complete and marked as paid in full since I've already paid the $650 loan I borrowed plus $484 extra.
Business response
08/08/2024
Please see the attached response.
Initial Complaint
08/02/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Hello, On 5/1/2024, I signed a Wage Assignment for this company, which they sent to my employer 7/15/2024, and that Wage assignment was RESCINDED (Revocation Notice) 6/20/2024; however, the company STILL took money from my check and are saying that since THEY didn't pick up their mail until a month later, that they won't refund the wages they took in error. Today, 8/2/2024, I requested a refund from the company directly and was told since it was taken AFTER the revocation, they won't give it back. I've lost my home over this and that is NOT ok. I did my part and now I need my money back. This can't be legal.. not even a little bit.
Business response
08/09/2024
Please see the attached response.
Initial Complaint
07/21/2024
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I have used this company once before with great results but this time I borrowed 900 dollars and my payments are 239 every 2 weeks. I have made ten payments so far and I thought it would have been paid off already. ( which is over 2200 dollars) So I thought I would be done but no I got 9 payments left and after it is said and done I would have paid over **************************************************************************************************************************** a jam but paying 4 times the amount is crazy.
Business response
07/25/2024
Please see the attached response.
Customer response
07/25/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

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.

Regards,

*******************
Initial Complaint
06/24/2024
Complaint Type:
Billing Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I took out an emergency loan with crane, the first one was $300 and after all the interest they offered me $500. Unfortunately I fell on hard times and the $500 sounded helpful so I took it. After no longer being able to pay $117 every two weeks due to a death in the family I revoked my ach. Within two weeks of doing so crane finance sent me an email that they would be contacting my employer for wage garnishment unless I signed otherwise so I signed not permitting them to do so. They sent me to collections with customer care global. I began to start a payment plan with customer care but they are asking for over $500 owed. Paid off $459 so how do I owe over $500 still? This is a predatory loan they charge almost 700% interest so my $500 loan was turning out to be $1757. This is a scam for people who fall on hard times. I noticed that the payment I did make to customer care global went directly to ********************** because it is in my payment history. I am asking for this loan to be considered paid in full or I am willing to pay the remaining balance on the $500 I borrowed which should be no more than a $60 payment and no longer be contacted by them. They do not have my permission to garnish wages on an illegal loan.
Business response
06/26/2024
Please see the attached response
Customer response
06/26/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

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.

Regards,

*************************
Initial Complaint
05/28/2024
Complaint Type:
Order Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I borrowed ****** from Crane Finance to address an immediate emergency. I was shown the information that stated what my payments would be. i did not realize i would be making these payments to meet 767% annual percentage rate. I cannot imagine a company actually being in business that would charge this interest rate to anyone, much less people who are dealing with emergency situations. This loan will cost me ******** !! Is this even legal? Please let others know how dangerous and deceptive this company's practices are. I don't know how i will address these payments at this unbelievable level.
Business response
05/29/2024
Please see the attached response
Customer response
05/30/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

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.

Regards,

*************************
Initial Complaint
03/12/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I received a loan from this company in order to pay a debt that was getting out of control. Little did I realize the exorbitant amount of interest this would end up costing me. A small loan for $700 should not end up costing over $3000 due to an interest rate of over 700. This is extremely deceptive and should be illegal! I have more than satisfied paying back the loan of $700 and would like this company to settle my account as paid in full.
Business response
03/25/2024
Please see the attached response
Customer response
03/25/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.

[Please type your response here.]

Regards,

***********************
Initial Complaint
03/01/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I was having a family emergency so I sought a loan online. It appeared I would have the 600 dollar loan paid off in 2-3 months. I tried to pay it off today, two payments in and I realize they are charging me thousands. I am in shock. These are bloodthirsty people. I am asking for a reasonable adjustment to satisfy this loan.
Business response
03/04/2024
Please see the attached response
Customer response
03/04/2024
Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.

You hide the payment from the customer. On your website, it says "This is an expensive way to borrow." At thr very least you must flash this before the customer puts their bank info in. This is no less than bloodthirsty trickery. I have the luxury of paying off my loan now but the majority of borrowers will be materially hurt and damaged by your failing to flash the reprehensible cost to take out a loan from Crane Financial. You should not be allowed to do business.

Regards,

***********************
Initial Complaint
02/28/2024
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I applied for a $400 loan on December 2, 2023 after almost being evicted, unaware that the interest rate would be ******%. This loan was meant to help me, but now I'm in a deeper pit. I already paid off the $400 I borrowed. However, with that ridiculous APR I'll end up paying $2,221.22 by the time I pay it off.
Business response
03/04/2024
Please see the attached response
Customer response
03/07/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

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.

Regards,

*************************
Initial Complaint
02/28/2024
Complaint Type:
Billing Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
On February 26, 2024, I was notified by my employer that they had received a Wage Garnishment from **************** a collection agency servicing Crane Finance in the amount of $1008.89. I called **************** to inform them this was a case of fraud and asked for the next steps. In order to access the information, ****** asked for my name, social security number and date of birth. FIRST RED FLAG was that the date of birth they had is incorrect. I was informed that they take fraud seriously and an email would be sent to me requesting information to start the fraud investigation. I provided bank statements to ***** via email at **************** on February 26, 2024, clearly showing that NO deposits were made to my account from *********************** reviewing the Wage Garnishment, it states the account was opened online on January 25, 2024 from ** Address 172.56.28.56. SECOND RED FLAG, I tracked the ** Address and it shows this ** Address is located in ************ and I live nowhere near ************. THIRD RED FLAG is what company issues a Wage Garnishment for an alleged account that is only one (1) month old? My employer has reached out to them too requesting copies of a signed loan agreement and any other information regarding this issue before they will move forward. We are in the process of getting a police report and completing an Identity Theft Affidavit and filing with Federal Trade Commission.I have drafted a letter to them instructing them to provide any documentation to me but they have not been forthright in providing anything my employer is requesting either.They need to cease their attempt at a Wage Garnishment immediately.
Business response
03/04/2024
Please see the attached response.
Customer response
03/04/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

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.

Regards,

*************************
Initial Complaint
02/11/2024
Complaint Type:
Billing Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I never took a loan never signed an agreement and never recieved money they are claiming.. now trying to withdrawl 216 from my account claiming I borrowed 700 and owe almost **** in repayment...
Business response
02/13/2024
Please see the attached response.
Customer response
02/13/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

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.

Regards,

*************************

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