I have also had some bad dealings with One Main Financial. I live in North Idaho, I got a loan though them and have been paying on it for a while. Then one day they called me and wanted to give me $500 extra dollars by refinancing my loan so I agreed. Then a few months later I feel behind on my payments and they started calling me 4 or 5 times a day, plus put me on an automated calling list which also calls me every day. They then start calling my family and even my work. I did some research and it is clear to me that they are in violation of my credit consumer rights for harassment. Then I called them up to try and work something out and was not even 60 days past due yet (I have phone records of this conservation) and they threatened to take me to court and garnish my wages, which I know is in violation of my rights because bill collectors can not threaten to take you to court if they have no intention to do so.
I then talked to them about making payment arrangements in a few months down the road so I can get another job and start paying again and then the other day they send me a nasty letter saying I own them $8,000. The principle amount for the loan was $4,000 as per what the *** letter in the mail said I was prequalified for. I looked over their contract and IF I were to make all my payments in the agreed term then they would have collected a total return on investment for $8,000 but the principle amount of the loan is only $4,000. So if I paid it all tomorrow I would not own them $8,000 dollars. So I call them back and they tried to pull some b.s that I do own them this amount.
With all that being said, I am going to court to fight One Main Financial, I would love to get a bunch of people involved in some sort of class action law suit. I think the safest bet is Harassment and unfair business practices because after reading a bunch of these posts it seems clear that someone needs to do this. I have recently graduated from grad school with my MBA and would love an opportunity to get to use some business law that I have learned. I think One Main Financial fails to uphold honest business practices and should be turned in to the Better Business Bureau.
If anyone is interested email me at email@example.com
Product or Service Mentioned: Onemain Financial Loan.
Monetary Loss: $3800.