Back in September, I needed to buy some plane tickets last minute and it was few days before payday so I took out a loan from Bridge Lending Solutions, an online lender thats run under Tribal law, for $550. I fully expected to pay it all off plus their finance fee on my next payday. However I ended up losing my job and got stuck in a trap of paying them over $150 every 2 weeks with no reduction in my principle balance.
I ended up getting a new job pretty quickly, less than one week after getting laid off, however, the payday schedule was different. I attempted to make changes to my pay schedule but their website and customer service were impossible to navigate. They wouldnt even let me pay it off in full before the next due date if I wanted to. At this point I had paid them over $900, so they had made a pretty fair profit off of me, but were continuing to charge me and my payment went UP even after I paid $200 down on it one pay period to try to reduce the
So I sent a complaint to the BBB of Wisconsin, where the lender is located. (I am in San Francisco)
I received a message from the BBB stating that they had received my complaint and were awaiting response from the company.
So I decided to try a payday loan consolidation service and they asked me the total amount they need to charge off the loan, and when I logged into my account with Bridge to see what I still owed them, on their customer portal it said I had no outstanding loans, so I decided not to use that service if I no longer needed it.
I am curious if they got rid of my loans because of the complaint from the BBB. I've seen on the BBB's site that they have made offers of settlement and closed other people's accounts who made complaints, but I received no communication from the BBB OR the company indicating a resolution.
My next withdrawal date was supposed to be this Friday and I'm not sure if theyre gonna take the money out or not.
I'm really hoping that the BBB complaint motivated them to close out my loans or what but I am cautiously optimistic.
Has anyone else experienced this? Is the BBB just slow to respond to my compliant with updates once resolved?
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