ComplaintsforNC Financial Solutions, LLC

• Initial Complaint

  04/21/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I received an alert from Credit Karma stating a new address was reported for me but I have lived in the same place for almost three years so it prompted me to check my credit to see whats going on. I saw that a loan was opened up through NetCredit for ***** and I did not even apply for a loan from this company nor did I receive money from this company. I immediately called the company on 3/25/24. I talked to two different representatives that day and they were asking me questions to verify identity. I had never lived at the address they had on file, they did not have a correct email address for me, the bank they had on file to where Im assuming they sent money was a bank that Ive never had an account with. To be exact she stated it was Navy Federal and I have never banked with a credit union in my life nor do I have a family member with military background for me to receive an account with them. They didnt have my correct phone number so it was clearly fraud. She told me to go file a police report for identity theft and they must have the report within 7 days of the complaint. Also, they stated once I send the police report, the issue would be resolved in 5 days. I emailed them the official police report on 3/27/2024. I did not get any resolution 5 days after. I have called and emailed this place numerous times asking for a resolution and they keep ignoring or making excuses such as the investigation is ongoing with no date of it being resolved. They have started sending me notices to pay this bill that I did not open. My credit score is being affected because of this loan. The verification process has to be extremely weak for them to allow scammers to prey on innocent people. Also, there was high proof that this isnt something I did and they will not correct the problem nor give any definitive answers on when this will be resolved. This has been emotionally damaging and financially damaging for something I DID NOT DO!

  Business response

  05/02/2024

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

  On February 2, 2024, someone identifying themselves as ***** applied for a NetCredit loan product, issued by ********************************** (TAB Bank) and serviced by NetCredit. This person provided ****** personal information such as date of birth and social security number. As part of the application process, consumers must authorize NetCredit and/or TAB Bank to obtain credit reports from consumer reporting agencies. 
  

  Subsequently,a NetCredit installment loan was approved, and the NetCredit Credit Agreement and Terms and Conditions (Agreement) were acknowledged and accepted by electronic signature on the application dated February 2, 2024.
  

  On March 25, 2024, ***** contacted the NetCredit customer support team to assert that ***** did not apply for the line of credit and has been the victim of identity theft. In accordance with our policy, ***** was asked to file a police report and provide a full copy to NetCredit so that an investigation could begin.
  
  ***** submitted a copy of the police report. Upon review of the full police report, our fraud department has accepted the identity theft claim and the loan in Karens name with NetCredit is now closed. We corrected our records, contacted the credit-reporting agency,and furnished the corrected information to them. A confirmation email was sent to ***** regarding the results of our investigation.  We ask that ***** please allow 30 days for the corrected information to reflect on the credit report.
  
  If ***** has any additional questions regarding this matter, our ************************* is available Monday Friday, 9:00AM 5:00PM CST to help answer questions via phone or email.NetCredit ************************* Phone: ************** Email: ***************************************** Fax:************** www.netcredit.com 

  
  

• Initial Complaint

  04/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I had a loan with this company and fell behind waiting for payment to my business from another company to pay off the loan. I called this company several times and tried to find a way to decrease my payment to a more manageable one until I received the funds in my business account. I was encouraged each time to let the account default and then they can work with me on lowering my payments. When I got the funds to pay off the account, I called and asked if they could remove the late payments as I would be paying off the account. I was told they would remove all late payments from the reporting agencies if I paid the balance in full. I paid the account off in full on 3/25/24. They didn't honor what I was told. All I am asking is they remove the late payments showing on my credit report, as stated to me. This severely hurts my outlook on getting any business loans to help my business stay afloat.

  Business response

  04/26/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by *****************************.  As we understand it, ****** has an inquiry regarding information sent to the credit reporting agencies.
  

  On May 15, 2023, ***************************** entered into a Line of Credit Agreement with ********************************************** whereby TAB Bank provided ****** a $4,100.00 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. ****** voluntarily accepted the *** through an electronic signature.  The Agreement also detailed a minimum payment is due every billing period that carries a balance. 
  

  These terms included a provision regarding credit reporting, which authorized TAB Bank and NetCredit, as servicer of TAB Bank, to report information about the *** to credit bureaus.Late payments, missed payments, or other defaults on your Account may be reflected in your credit report.  
  

  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 Sherrys 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 line of credit, ****** has requested six (6) cash advances. However, ****** has failed to make the required payments on the account. As such, our collection efforts were initiated. As part of the loan process, account activity will be sent to the consumer reporting agencies.
  

  On March 3, 2024, ********************** was sent a Notice of Right to Cure Default due to successive non-payment of the account balance informing ********************** of the right to cure the default by paying the default balance before April 3,2024. If the account is not in current status or Shakeemia ****** does not set up payments to cure the past due balance by April 3, 2024, then the entire account balance may be accelerated and become immediately due.
  
  On March 22, 2024, ****** paid the full account balance.Therefore, at this time, ****** does not have an outstanding balance with NetCredit. Please note, that although ****** paid the full account balance, it does not negate payment history that occurred prior to the date the *** was paid off and our responsibility to report this information accurately. 
  

  Our review of the loan performance information sent to the consumer reporting agencies indicates that NetCredit has reported 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 the request of altering or deleting credit reporting. 
  

  Based on our review, ****** contacted the NetCredit customer support team to inquire about the payments, however, our records do not indicate that ****** was advised that the credit would be removed once the account balance was paid in full.
  

  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.
  
  
  

  
  

  Customer response

  04/30/2024

   
  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.  I have reviewed my updated credit file and it now only shows 1-30 day late and account closed, before it was showing 60 days late.

  I accept this update.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  04/17/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I opened an account with Net Credit in 8/2022 for $6200. I have paid approximately $4800 to this company and they still say my principle owed is $5939.79, so just a little over $200 has gone to principle. Now when I pay $164.69 twice a month, this 100% goes to principle. When you talk to them (which is rare because you can never get in to talk to anyone and their email responses are all canned responses so they don't even answer your question most of the time) they tell you that all the interest is pretty much added up front.. but their paperwork says there is no penalty for paying off early.. how is that not a penalty? Today if I paid the full loan off it says I owe $8227.65. So not only is that over $2000 more than I borrowed from them initially I have also already paid close to $5000 to them already! This is predatory lending at its finest. How is this legal? I have more than paid them enough interest and it is killing my livelihood! I can't even feed my family half of the time or pay my rent on time because of them. They won't work with you on the interest either. And if you are one day late, they call you NON-STOP all day long! I pay what I am supposed to but this is ridiculous and how can anyone ever pay this off?!? I would like them to work out a settlement with me so that I can be done with them and be able to focus on my family and my well-being. Even if they stopped with the interest and just had me pay off the principal amount they STILL would have made almost $5000 from me so it is NO loss to them!

  Business response

  05/03/2024

  Thank you for forwarding this customer complaint. We take all complaints seriously and make every effort to implement a fair and satisfactory resolution.

  On August 2, 2022, **************** was funded with a $6,200.00 installment loan 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 Kentucky law.

  When **************** applied for the installment loan, 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 August 2, 2022.  **************** can access a copy of her Agreement at any time by signing into her online account at www.netcredit.com.
  This Agreement also outlines, in detail, all the terms of the account, including the Loan Duration, Annual Percentage Rate, Finance Charge,Amount Financed, Total of Payments and Payment Schedule.

  We would also note that the top of the Agreement that was presented to **************** and she agreed to prior to submitting her application,it states, HIGH COST CREDIT DISCLOSURE. This loan is an expensive for of credit. Other credit options may be less expensive.

  As set forth in her loan agreement, payments are applied to unpaid interest first. For detailed information about her specific loan, we recommend that **************** refer to her loan agreement, which is always available through her online account. Specifically, we would like to direct her attention to the section of the agreement labeled APPLICATION OF PAYMENTS.
  
  Please note that **************** has the right to make a payment in advance and in any amount on the loan agreement at any time without incurring additional charges. Prepayments of principal may reduce the total amount of interest she is scheduled to pay under the Agreement. **************** has failed to make the required payments on the account. As such, our collection efforts have been initiated. NetCredit strives to comply with all applicable regulatory and legal requirements while conducting regular business and collection activities.    
  

  Based on our review, Ms.Butlers account has been managed in alignment with the above referenced Agreement and we are unable to honor her request.
  

  NetCredit remains willing to work with her and her outstanding account balance, we ask that she please contact our customer support team to schedule available repayment options at ************,Monday Friday, 8:00AM 8:00PM CT or Saturday Sunday, 9:00AM 5:30PM CT.

  
  

  Customer response

  05/03/2024

   
  Complaint: 21589074
  
  I am rejecting this response because:
  it says I have failed to make payments but that is not accurate.   I am making payments in the amount of $330 a month and absolutely none of it is going to principal! i have already paid 5000 and all but maybe $200 has gone to interest and they say my balance is still over $8000! if i paid off today with no penalty you cant still add interest to what i would have paid had I not paid it off.  That is in fact a penalty!  if I paid off the principal today which is $5900+ on top of the $5000 i have already paid that would be almost $11000 for a $6200 loan so I have more than paid interest.   Your business practice of applying all payment to interest before anything goes to principal is unethical and should be illegal.  This is predatory lending at its finest.  How could anyone ever pay it off if it 100% goes to interest!?! that doesnt even make sense.   And all you give is the same canned responses over and over 
  Sincerely,
  
  ***********************

  Business response

  05/04/2024

  Thank you for forwarding the additional correspondence to our attention.
  

  As mentioned, when **************** applied for the installment loan, 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 August 2, 2022.  **************** can access a copy of her Agreement at any time by signing into her online account at www.netcredit.com.
  

  This Agreement also outlines, in detail, all the terms of the account, including the Loan Duration, Annual Percentage Rate, Finance Charge,Amount Financed, Total of Payments and Payment Schedule.
  Although **************** has made successful payments towards the account balance, she has failed to make payments according to the payment schedule as set forth in her loan agreement. As a result, her account balance became past due and our collection efforts were initiated.   Currently, Ms. ******* account balance is past due for the missed installment payment that was due on May 2, 2024.   

  As mentioned, as set forth in her loan agreement, payments are applied to unpaid interest first.
  
  As mentioned, **************** has the right to make a payment in advance and in any amount on the loan agreement at any time without incurring additional charges. Prepayments of principal may reduce the total amount of interest she is scheduled to pay under the Agreement. 
  

  As mentioned, Ms. ******* account has been managed in alignment with the above referenced Agreement and we are unable to honor her request.
  

  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

  05/07/2024

   
  Complaint: 21589074
  
  I am rejecting this response because: It is past due what like 3 days when you sent this? Sorry I choose to pay my rent and the necessities first before your ridiculous loan. I have never in my life known any loan payment that 100% goes to interests before any principal is paid.  That should be illegal and you should be out of business.  It doesnt matter what your stuff said because everything you have mentioned is very misleading. You need to say there IS a penalty for paying off early and that is the fact that you still have to pay 100% of the interest even if you pay off early.   There is a reason when you ****** Net Credit that there are peopling suing you for shady business practice.  Like I said, you are a predatory lending company and you prey on people that are already struggling and refuse to work with anyone to make things more manageable
  
  Sincerely,
  
  ***********************

• Initial Complaint

  04/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I'm urgently reaching out regarding the inaccuracies on my credit report resulting from the sharing of my personal information with credit bureaus. This has caused significant financial and emotional distress.As outlined in 15 USC 1681 Section 602, I affirm my right to financial privacy and expect my information to be treated confidentially.Furthermore, under 15 USC 1681 Section 604(a)(2), a consumer reporting agency is prohibited from disclosing account details without my explicit consent, which I haven't provided.The discrepancies associated with NETCREDIT have negatively impacted my financial situation, necessitating immediate correction.Additionally, I emphasize adherence to 15 USC 1666(b), which prohibits creditors from treating credit card payments as late under specific circumstances.Below, you'll find my account details for your reference:Account Number: ***********I urgently request a thorough review of my account, prompt rectification of the credit report inaccuracies, and strict compliance with federal laws governing my information.Failure to address these concerns promptly may result in legal action. I appreciate your immediate attention to this matter.Sincerely,***********************

  Business response

  05/01/2024

  Thank you for forwarding this customer complaint. We take all complaints seriously and make every effort to implement a fair and satisfactory resolution.
  

  On January 18, 2022, **************** was funded a $6,800.00 installment loan offered by ************* & ************* (*************) and serviced by NetCredit. When **************** applied for the installment loan, 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 January 18, 2022. **************** can access a copy of his Agreement at any time by signing into his online account at www.netcredit.com.

  This Agreement also outlines, in detail, all the terms of the account, including the Loan Duration, Annual Percentage Rate,Finance Charge, Amount Financed, Total of Payments and Payment Schedule. Additionally, the Agreement **************** signed also advised that we may report information about the account to ********************** bureaus.  These terms included a provision that authorized NetCredit, to report information about the Loan to the credit bureaus. Late payments, missed payments, or other defaults on your Account may be reflected in your credit report.
  

  *************** failed to repay those funds as agreed. Accordingly,the account became delinquent. As part of the loan process, we report payment activity to the consumer reporting agencies.
  
  On January 27,2023, NetCredit sent **************** a notice informing him of the default and that he had the right to cure the past due balance before February 27, 2023, or the balance would become immediately due (accelerated).  **************** failed to cure the default, and the Loan was accelerated on February 27, 2023, making the entire outstanding balance, plus all accrued and unpaid interest owed under the agreement, immediately due and payable.
  

  Our review of the loan performance information sent to the consumer reporting agencies revealed that NetCredit is reporting accurate information concerning the repayment history of this loan and the status of the account. As we are required to report accurate information, we are unable to fulfill his request of altering credit reporting that is confirmed as accurate.
  

  NetCredit strives to provide the ultimate customer experience, and we would be more than happy to address any outstanding questions or concerns that **************** may have regarding his account. We ask that he contact our customer support team at ************ for assistance.
  
  We hope this response resolves this complaint and answers any questions your office has. If we can provide any additional information, please contact us.
  
  
  
  

  
  

• Initial Complaint

  04/16/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I paid off this loan, over 30 days ago. I was dutiful, never missed a payment, never complained about their high-interest rates, and yes, I read your contract, and even though I think your were predators, I knew what I was getting myself into. The problem that i am having is you not picking up your phone to explain why my balance with you is still showing over 3000 on my credit report. You are always touting our responsibility to you, but now you have a responsibility to me, that I expect you to comply with. You are impacting my debt-to-income ratio, and I want you to meet your commitment to report this correctly.

  Business response

  04/26/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by *********************************. As we understand it, ********* has an inquiry regarding information sent to the credit reporting agencies.

  Based on our review, on March 14, 2024, ********* paid off the full account balance. Accordingly, in April 2024, we reported to the credit reporting agencies (CRAs) that the account was paid in full with a zero balance.
  

  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. 
  

  Please note that NetCredit does not have control over the timing of the update to *********s loan or how the credit reporting agencies interpret the data received for their proprietary scoring systems. We recommend ********* ******* TransUnion and Experian directly if ********* has questions about their records.

  If ********* has any additional questions regarding this matter, please ******* 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

  04/15/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Took out a cash advance loan $3450. Paid $1950. Still owe $3028.80. I called customer service and asked how much to pay to pay off in 3 or 4 payments. They refused to answer the question. I requested to escalate the call. They have not called me. This feels like predatory lending. There should be legal limits of interest and "fees" they are collecting but there seems to be no end to the payments.

  Business response

  04/30/2024

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

  On November 15, 2023, Mr. ****** opened a $3,450.00 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 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 November 15, 2023.  Mr. ****** 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 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, Mr. ****** 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. Mr. ****** 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 Mr. ******* Agreement. 
  

  During the application process, Mr.****** advised that his pay frequency was biweekly, and his repayment dates were scheduled accordingly as biweekly.
  

  Since establishing the NetCredit line of credit, Mr. ****** has requested one (1) cash advance and his account balance is past due.
  

  Based on our review, Mr. ****** has correctly been assessed Statement Balance Fees and Cash Advance Fees as detailed above. As his account has been managed in alignment with the above referenced Agreement, we are unable to honor his request and alter his account balance.
  

  Mr. ****** contacted our customer service department in regard to the concerns mentioned in his complaint.  We advised Mr. ****** of the aforementioned information. Please note that settlement arrangements are currently not offered for Mr. ******* line of credit. Additionally, payoff amounts can only be quoted for the entire outstanding balance in a lump sum payment.
  

  If Mr. ****** would like to inquire about payment options to pay off his account in full, we ask that he please contact our in-house ********************** directly at **************.Additionally, if Mr. ****** 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.

• Initial Complaint

  04/09/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Ive been going through financial difficulties and i reached out to this business to work out a possible settlement and they claim they dont offer settlements for line of credit however, the complaints within the BBB about this business show otherwise. On March 22 (twice that day), March 25 and March 28, NetCredit attempted to draft from my account for two different payments despite being told in an email twice and once over the phone that the funds were not in the account. The person I spoke to from Final Resolution claims I was supposed to be offered the option to move the payment when I spoke with an agent but I was not offered that option. Their numerous attempts led to my account being NSF for -$116. I tried to get a reimbursement for their negligence and was pretty much told I was screwed and that they werent obligated to refund me about that since my payments were late and stated since it was contractual payments theres nothing they can do so at that point they were basically telling me that I was screwed and that it wasnt their problem because of a contract. This company is predatory and doesnt care about their customers and will lie anytime they think they can get over on you. Im requesting a settlement once again for my account and a reimbursement of $116 due to their negligence. I would also like communication with the *** herself of NetCredit to discuss my experience with her.

  Business response

  04/19/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by ************************.  As we understand it, ********* is requesting repayment options.
  

  On September 22, 2023, ************************ entered into a Line of Credit Agreement with ********************************** ("TAB Bank") whereby TAB Bank provided Shakeemia a $1,100.00 line of credit (hereafter ***), to be serviced by NetCredit Loan Services,LLC. 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.  In addition, ********* voluntarily signed an Automated Clearing House (ACH) authorization allowing credits and debits to be made towards *************** account.
  

  We would also note that the top of the Agreement that was presented and agreed to by Shakeemia 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.  Shakeemia can access a copy of the Agreement at any time by signing into Shakeemias 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 line of credit, Shakeemia has requested three (3) cash advances. ********* has made payments towards the account balance; however, the account is past due. As such, our collection efforts have been initiated.
  
  Based on our review, Shakeemia had a minimum payment of $81.18 due on December 29, 2023. However, on December 19,2023, ********* logged into Shakeemias account home and scheduled to adjust the payment due date to March 28, 2024, and a confirmation email was sent to Shakeemia confirming that an adjustment to the upcoming due date had been processed. 
  

  In addition, Shakeemia had a minimum payment of $81.16 due on January 26, 2024. However, on January 19, 2024, ********* logged into Shakeemias account home and scheduled to adjust the payment due date to March 25, 2024, again a confirmation email was sent to Shakeemia confirming that an adjustment to the upcoming due date had been processed. 
  

  Please note, the confirmation emails also advised that regularly scheduled payment due dates would continue as originally agreed upon and specifically acknowledged that the adjusted payment date *** land on the same day as the next scheduled payment.
  

  On March 13, 2024, Shakeemia was sent a Notice of Right to Cure Default due to successive non-payment of the account balance informing Shakeemia of the right to cure the default by paying the default balance before April 15, 2024. If the account is not in current status or Shakeemia does not set up payments to cure the past due balance by March 25, 2024, then the entire account balance *** be accelerated and become immediately due.
  
  On March 14, 2024, ********* contacted our customer support team and scheduled a payment arrangement for the past-due balance.
  
  On March 21, 2024, ********* contacted our customer support team via email to advise that Shakeemia is experiencing financial hardship and requested a settlement. As such, Shakeemia was advised that the Line of Credit Product is not eligible for settlement. NetCredit has attempted to assist ********* regarding the past due balance but ********* has declined the available payment plan options.
  
  As Shakeemia did not cure the default balance,the entire account balance became due on April 15, 2024.
  
  Based on our review, Shakeemias concerns were escalated and Shakeemia was advised of the aforementioned information. In addition, we provided available repayment options including a repayment plan. ********* has declined our offer.
  
  We are willing to work with ********* and the past due balance. We ask that Shakeemia contact our customer support team for available repayment options 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

  04/22/2024

   
  Complaint: 21554384
  
  I am rejecting this response because: Ive been working tirelessly to try and come to terms with the company and I keep getting met with pushback. Its ever their way or no way in my case. They keep saying they dont offer settlements for line of credit however numerous complaints FROM other customers about NetCredit to the BBB has shown otherwise, Ive attached a screenshot to one complaint I came across but there are numerous cases with the same issues as my own. The payment options provided wouldnt help my case nor were they affordable since, once again, Im going through financial hardship. Im requesting a settlement as well as a reimbursement of $116 for the unnecessary NSF fees brought on by their negligence even after being advised both in email and over the phone that the funds were not in the account and to not draft the account. 
  
  Sincerely,
  
  ************************

  Business response

  04/26/2024

  Thank you for forwarding the additional correspondence regarding ****************** concerns.

  As mentioned previously,the Line of Credit Product is not eligible for settlement. NetCredit has attempted to assist ********* regarding the past due balance but ********* has declined the available payment plan options.
  

  We are willing to work with ********* and the past due balance. We ask that Shakeemia contact our customer support team for available repayment options 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

  04/26/2024

   
  Complaint: 21554384
  
  I am rejecting this response because u keep being told that you dont offer settlements however, I keep seeing complaints on the BBB stating otherwise? On top of that, you still havent mentioned my reimbursement request due to your negligence, Im trying to work with you all but you all are not trying to work with me unless they are on your terms, youre not even trying to meet me in the middle on this. Until, you all can actually use empathy and put yourself in my shoes, Im going to keep rejecting the response until we can meet common ground which will not be on your terms only. 
  
  Sincerely,
  
  ************************

• Initial Complaint

  04/08/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  In the month of October 2023 I was approved for a line of credit through NetCredit in the amount of *******. Since then, I have been making payments on the account. However, I noticed the balance was not decreasing as much as it should have making biweekly payments. I called and the *** explained to me I am charged interest and statement fees each time a billing statement is sent (biweekly) I am charged $70.00-80.00. That is complete insanity. I thought it was a monthly fee. At this rate, the loan will never be paid off. I looked over the contract and it seems very "wordy" to me. I have no problem repaying the company for the initial amount borrowed but I refuse to pay these fees. This company needs to be investigated.

  Business response

  04/18/2024

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

  On October 4, 2023, *************************** entered into a Line of Credit Agreement with ********************************************** whereby TAB Bank provided ******* a $1,600.00 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. ******* voluntarily accepted the *** through an electronic signature. The Agreement also detailed a minimum payment is due every billing period that carries a balance.  In addition, ******* voluntarily signed an Automated Clearing House (ACH)authorization allowing credits and debits to be made towards ************* account.
  

  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 Tanishas 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 line of credit, ******* has requested three (3) cash advances. In reviewing Tanishas account statements and payment history, our records confirm that ******* has correctly been assessed Statement Balance Fees and Cash Advance Fees as detailed above. 
  

  ******* 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 Tanishas loan agreement.
  

  Based on our review, ******* contacted the NetCredit customer support team to inquire about the outstanding account balance and how payments are allocated, as such she was advised of the aforementioned information.
  

  In addition, our review of Tanishas account history, specifically the payment history, shows that payments have been applied in alignment with the Agreement ******* electronically signed upon account opening. 
  

  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.
  
  

  
  

  Customer response

  04/19/2024

   
  Complaint: 21535869
  
  I am rejecting this response because:

   

  I no longer want to do business with your company because in reality there is not a way to pay the balance off. Essentially, I am paying your company astronomical fees. I am simply asking to close my account and I will pay it off. I feel this company takes advantage of people who are in financial need and it is terrible.
  
  Sincerely,
  
  ***************************

  Business response

  04/26/2024

  Thank you for forwarding the additional correspondence regarding ******* Gholars concerns.
  

  As previously mentioned, ******* 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 Tanishas loan agreement.
  
  We cannot honor ******** request to close out her line of credit until the balance has been satisfied in full.
  

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

  
  

  Customer response

  04/26/2024

   
  Complaint: 21535869
  
  I am rejecting this response because: Those terms are ridiculous and I will not be ripped off by this company. Thee is no need for further explanation from them. I will take care of it on my end.
  
  Sincerely,
  
  ***************************

• Initial Complaint

  04/03/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am not liable for the debt with this, I do not have a contract with about NETCREDIT/TABLOC. They did NOT provide me with the original contract with my wet signature as requested.

  Customer response

  04/04/2024

  The previous document has everything being requested. 

  Business response

  04/12/2024

  We have received the complaint sent to the Better Business Bureau (BBB) by *************************.
  

  We believe that ****** may be requesting that we delete credit reporting related to ******* loan, and may further be requesting a validation of debt. As described below, ****** executed a valid loan agreement,and we cannot delete any credit reporting associated with that loan that is true and accurate.
  

  On July 2, 2023, ************************* entered into a Line of Credit Agreement with ********************************** ("********") whereby ******** provided ****** a $2,500.00 line of credit (hereafter ***), to be serviced by NetCredit **** Services, LLC (NetCredit). When ****** applied for the ***,terms were presented and were required to be reviewed prior to accepting the *** offered by ********. ****** voluntarily accepted the *** through an electronic signature.  The Agreement also detailed a minimum payment is due every billing period that carries a balance. 
  

  These terms included a provision regarding credit reporting, which authorized ******** and NetCredit, as servicer of ********, to report information about the *** to credit bureaus. Late payments, missed payments, or other defaults on your Account may be reflected in your credit report.  
  

  Since establishing the ***, ****** has requested one (1) cash advance. However,****** has failed to make any of the required payments on the ***. As indicated in the *** Agreement, we reported this account activity to the consumer reporting agencies.
  

  On October 18, 2023, NetCredit sent ****** a notice informing ****** of the default and that ****** had the right to cure the past due balance before November 20, 2023, or the balance would become immediately due (accelerated).  ****** failed to cure the default, and the **** was accelerated on November 20, 2023, making the entire outstanding balance, plus all accrued and unpaid interest owed under the agreement,immediately due and payable. Due to continued non-payment of the past due amounts, on March 25, 2024, the *** was sold to a third-party debt buyer, ***** Services (*****). As a result, NetCredit is no longer servicing the *** since it is not currently owned by ********. Therefore, inquiries regarding this debt should be directed to *****. Their contact number is ************. 
  

  Finally,our review of the *** performance information sent to the consumer reporting agencies indicates that we reported accurate information concerning the repayment history of this *** and status of Jeromes account during the period that the account was owed by ********.  As we are required to report accurate information, we are unable to fulfill the request of altering or deleting accurate credit reporting. For any credit reporting disputes after the account was sold to *****, ****** will need to contact ***** directly.
  

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

  
  

• Initial Complaint

  04/03/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am a victim of identity theft. I've noticed unauthorized transactions and suspicious activities linked to my identity. I've filed a police report, but I need assistance in resolving this issue. I hope to recover my financial losses, clear my name, and request your help in removing this account from my ********************** report. Please help meinthismatter. -------- NET CREDIT opened on Oct 11, 2018 --------

  Business response

  04/18/2024

  Thank you for forwarding this customer complaint. We take all complaints seriously and make every effort to implement a fair and satisfactory resolution.
  
  As an initial matter, we have previously addressed **************** concerns addressed in a previous Better Business Bureau (BBB) complaint.
  

  On October 9, 2018, someone identifying themselves as ******************************* applied for a Installment loan with NetCredit. This person provided ********************************* 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. 
  

  On October 11, 2018, a $2,870.00 Installment loan was approved, and the Installment Loan Agreement and Terms and Conditions (Agreement) were acknowledged and accepted by electronic signature on the application. In the Agreement, a payment schedule was provided. Additionally,the loan 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 credit reporting.
  

  NetCredit has received some payments towards the account balance, however, the account balance became past due. As such, our collection efforts have been initiated. As part of the loan process, account activity is reported to consumer reporting agencies (CRAs).
  
  Due to continued nonpayment of past due amounts, the account was sold to a third party debt buyer, DNF Associates (DNF) on August 8, 2019. The direct contact number for DNF is ************.
  
  Upon receipt of **************** initial BBB complaint ************** was asked to file a police report and provide a full copy to NetCredit, so that an investigation could begin.
  
  ************** submitted a copy of the police report with this complaint and after further review, our identity theft department was not able to confirm that fraud occurred. Therefore, ************** is liable for the account balance and the terms of the agreement are in full effect. A confirmation email was sent to ************** advising her the status of her claim.
  

  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.
  

  We hope this response resolves this complaint and answers any questions your office has. If we can provide any additional information, please contact us.
  

  
  

*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. ↩