Complaint #1539275 submitted on 08/27/2015 relating to Armed Forces Loans of Nevada Inc.. Complaint relates to Consumer Loan Installment loan - Managing the loan or lease .
Complaint was submitted via Web and sent to the company on Thursday 3rd September 2015.
I took out a loan with a company Called Armed Forces Loans of XXXX. I was active duty military at the time and I was in need of a loan due to unexpected expenses. I received an approval through Armed Forces Loans of XXXX. At the time I was just excited to get approved for the funds that I need, but as time went on I realized I was in a much better situation without the funds from this company than before I made contact with this company.
I was charged interest rates upwards of 34 % which I know now is not allowed for XXXX military members for an interest rate to be so high it should be maxed at 6 % ( due to laws such as the SCRA etc. ), this interest rate is also not allowed for the state of XXXX Residents. I was also not aware that this company may not even be allowed to lend to Maryland residents due to not being licensed in the state or not following the XXXX interest rate guidelines.
This company has left countless remarks on my credit report in order to get this debt collected and it has become very damaging to my credit profile. I am willing to take full responsibility for the debt and I would like to get this account settled but only if this is indeed legal account ( loan ).
I would like to request the company send me : A copy of my full account statement ( Loan Amount and Terms ( signed by me ) to include interest and fees ) which have never been provided by the company and are not available on my online account.
Also I request the company send me their License information that grants them authority to lend in the State of XXXX and or to XXXX Residents.
Any other relevant documentation to prove this company has the ability to lend to myself.
While this process is ongoing I would like Armed Forces Loans to remove all account information ( collection accounts, derogatory remarks etc. ) and to cease collection attempts.
It has been brought to my attention that I may be a victim of deceptive lending or predatory lending and if this is the case due to what has been listed above then this account should become void. It makes this very suspicious when they do not want to reveal original documents or provide certain proofs that are required by law.
Upon the Company receiving this complaint I wish that if I am wrong about any of the above mentioned that they will not show any type of retaliation efforts and cause more damage to my credit than they already are. I am just a concerned consumer that wishes to verify my rights.
I do not wish for Armed Forces Loan to contact me until they can provide what was listed about as I do not want to be put in a more stressful situation than this already is.
Servicemember
| Company | Armed Forces Loans of Nevada Inc. |
| Complaint ID | 1539275 |
| Date Received | 08/27/2015 |
| Product | Consumer Loan Installment loan |
| Issue | Managing the loan or lease |
| State/ZIP Code | MD 207XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 09/03/2015 |
| Result | Timely Response: Yes, Consumer Disputed: No |
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