I have a loan with One Main Financial. I went in to pay it off, and was told i could notpay it off. It was in a 6 day cycle. This was on 6/29. She told me I could pay it off afterthe first of the month. At the time of the loan they said I could pay it off anytime. Is this ethical or legal?
State/Country relating to question: Texas
Hi,My name is XXXXX XXXXX X'd be happy to answer your questions today. We have recently implemented a new payment and feedback system. Please be aware that you are rating my courtesy and service as a professional, and not whether the answer supports your legal position. Choosing either of the low two options reflects poorly on me (and not the law), and ensures that I receive no credit for my time in helping you, so please do not choose either of these options without first giving me the opportunity to address your concerns by clicking the "reply" tab. I appreciate your patience while we adjust to the new system.What does the contract say about early payment? Did they give you a reason for not accepting the money?
the contract states I can pay it off at anytime
If the signed documents say that you can pay it off any time you want, then they have to accept your payments. They can't send you away just so they can charge additional interest. There are a few different options here. One is to send them a letter, with a check and a copy of the contract showing your right to pay off the loan early (underlined or highlighted), demanding that they accept the payment, backdated to your first attempt to make it, or that you'll take further action against them. If the letter is sent via certified mail, that should get their attention. You could also try to send a copy to their legal department. If you haven't already done so, you may want to try talking to a manager about the situation first, in case they can fix it and save you some time and energy.Another option is to file a complaint with the Better Business Bureau, to see if they will help you mediate. http://www.bbb.org/us/Find-Business-Reviews/name/One+Main+Financial/Another option is to file a complaint with the Federal Trade Commission, because banks and loans are federally regulated.https://www.ftccomplaintassistant.gov/You can also notify the Attorney General's Office.https://www.oag.state.tx.us/consumer/complain.shtmlPlease remember to rate my service before signing out, as this is the only way that I get credit for the time I spend helping you. I hope that you are 100% satisfied - if not, please click "reply" so that we may continue the conversation. Good luck.
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