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Fradkin & Weber PA – CFPB Complaint

By on March 17, 2018

Date Received: 2018-02-15T00:00:00

Product: Payday loan debt

Issue: False statements or representation

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I took out a {$5000.00} dollar loan in XX/XX/XXXX from XXXX XXXX. I took the money out to start my now very successful business.

I made the payments on time every month until XXXXXX/XX/XXXX when I was called by a debt solution company about renegotiating my debt. I agreed to enter the program as I had already purchased my home and car so I didn’t think it would be a bad idea. The debt solution company XXXX XXXX XXXX XXXX XXXX told me to treat it like a bankruptcy while they negotiated the outstanding balances lower. A month later I received a summons from Fradkin & Weber collection agency. The XXXX XXXX XXXX XXXX XXXX company told me not to respond to it. I had an over 700 credit score at the time. Then F & W called me and threatened me and it made me extremely nervous. I was able to make the payments, it was never about not being able to make the payments so on XX/XX/XXXX I exited the debt program and made a payment to get up to date with XXXX. I made this payment at the XXXX MD branch off XXXX XXXX. I called F & W and asked what did I need to do to make the hearing go away. They sent me a form to fill out and fax back to them and I faxed it from a XXXX in XXXX PA.

I found out later that they did not stop the hearing, and it went on and I did not show up to court and the judgment was awarded against me. I didn’t have money to attain an attorney at the time and rather than go deeper into trouble with this agency I started making the requested payments to them.

I made payments on time every single month for years. I then requested F & W to send me a payoff balance several times. All of my emails went unresponded to. I wanted to pay the remainder in full. No one got back to me.

READ  General Financial, Inc. - CFPB Complaint

I had an automatic bill pay set up with my bank but I had switched banks. I missed two payments to F & W and they without my knowledge or permission pulled a large amount of money out of my bank account on XX/XX/XXXX This was way more than the balance owed. I have paid nearly 8000 dollars on this {$5000.00} loan.

I have emailed them and called them repeatedly for an explanation and no one has responded. This place has turned my life upside down,

Company: Fradkin & Weber PA

State/Zip: MD 211XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2815067

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.

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