Complaint Review: RISE Credit - Fort Worth TX

Loan sharks. Predatory Lenders. Plain and simple. To begin with, yes, I should've read the fine print closer and I know ther errors of my ways now (and did before this debacle even began)...

In April 2022, I refinanced another loan to pay this abomination of a loan off for good. The financial institution (bank) I used for doing this sent RISE Credit a check via USPS for the amount they told me over the phone was a pay-off.

This was not the case. There is DAILY interest on their loans. This check was sent around April 22nd. Three weeks later...nothing. They have NO record of receiving the check for the pay-off amount. Meanwhile, their daily interest amounts were causing the balance to RISE! (I see how they got their name)...

When I contacted RISE, they requested tons of info to track the check, which I provided to my best abilities and with no resolve. So, after calls back-and-forth and some research from the bank I used for my new loan -- my bank found the check that they sent RISE had been returned / denied receipt.  It was the CORRECT address -- a P.O. Box in Dallas, TX -- both listed on their website and given to me verbally over the phone.

The check was sent from my bank's disbursment offices in Evansville, Indiana USA on 4/22 and was returned to them several weeks later. So, after some back-and-forth again, I was told an overnight check would be credited to my account same day as received, so my bank sent them a check OVERNIGHT via FedEx on 5/17...with tracking...to their "Overnight Payment" lock box/physical address in Richardson, TX....tracking confirms that it was received and signed-for on 5/18 at 9:38am. So on 5/18, when 5pm rolled around and no credit to my account was seen, I made note. The same was true the morning of 5/19, so I contacted them. I was told again that it would post by 5pm. Nothing.

On 5/20, I contacted RISE and was told a note on my account said the check was received and should post on that day by 5pm. I was skeptical (and rightfully so), but hoped since they had noted the check was received that it was true. They said to check the account after 5pm, and if it wasn't credited to contact them.

As of 7pm on 5/20, I now have a balance that's $433 higher than the "pay-off" amount given to me in April, and no credit to my account. I call to them again... This time, the representative I spoke with (Katherine) told me they have no record of receiving any checks, just notes on my account about my calling them previously and "why can't you just pay it off and let the bank reimburse you?" comments made (because banks don't work that way when THEY want to pay-off a loan).

So at this point, now they've escalated my "ticket" and allegedly will call me within 24 hours. We'll see how that goes. Meanwhile, I'll have to wait until Monday to contact my bank again to see if the check was actually cashed, and go through goodness knows what else to resolve this atrocity up to and including contacting my family lawyer.

I cannot say it enough... I DO NOT RECOMMEND RISE CREDIT / COMMUNITY CAPITAL BANK FOR ANYTHING! 

This company is rife with predatory lending at its best and they're not very professionally-operated either. Most lenders work with their customers in good standing when they want to pay-off a loan. This so-called lender works much like a payday loan service or any number of other predatory lenders I've heard and seen. I cannot in good faith say they're here to help those with tough credit or bad credit situations. They only tend to make it worse.