BBB Accredited Business since

Personal Finance Company, LLC

Additional Locations

Phone: (708) 747-4888 Fax: (708) 747-5288 19065 Hickory Creek Dr STE 300, Mokena, IL 60448 View Additional Email Addresses

BBB Business Reviews may not be reproduced for sales or promotional purposes.


Personal Finance Company, LLC, is a consumer finance and loan company which provides loans and credit for individuals and businesses. This company serves the greater Midwest as well as customers throughout the Chicagoland area, including in Chicago Heights, Ford Heights, Matteson, Homewood, Flossmoor, Park Forest, Hazel Crest, Country Club Hills, Frankfort, Frankfort Square, Mokena, University Park, Crete, Thornton, Glenwood, Lynwood, Sauk Village, Lansing, South Holland, Oak Forest, Harvey, Monee, Orland Hills, Midlothian, Posen, Dixmoor, and Alsip. Services available from this company include personal loans, consolidation loans, appliance financing, medical and dental financing, vacation loans, school loans, emergency loans, retail financing, and accounts receivables acquisitions.

BBB Accreditation

A BBB Accredited Business since

BBB has determined that Personal Finance Company, LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Personal Finance Company, LLC include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 2 complaint(s) filed against business
  • Resolution of complaint(s) filed against business

Customer Complaints Summary Read complaint details

2 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 1
Billing/Collection Issues 0
Delivery Issues 1
Guarantee/Warranty Issues 0
Problems with Product/Service 0
Total Closed Complaints 2

Customer Reviews Summary Read customer reviews

2 Customer Reviews on Personal Finance Company, LLC
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 2
Total Customer Reviews 2

Additional Information

BBB file opened: March 07, 1990 Business started: 10/01/1953 Business started locally: 10/01/1953 Business incorporated 07/09/2003 in DE
Licensing, Bonding or Registration

This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Illinois Department Of Financial And Professi...
320 W Washington St Fl 3, Springfield IL 62701
Phone Number: (800) 560-6420

Type of Entity

Limited Liability Company (LLC)

Business Management
Mr. Steven Schmelzer, President & CEO Mr. Kevin Byrd, Vice President & CFO Ms. Paula Moore, Payroll Administrator
Contact Information
Customer Contact: Ms. Paula Moore, Payroll Administrator
Principal: Mr. Steven Schmelzer, President & CEO
Number of Employees


Business Category

Consumer Finance & Loan Companies Credit Services Financial Services Loans Commercial Banking (NAICS: 522110)

Customer Review Rating plus BBB Rating Summary

Personal Finance Company, LLC has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of A+.

BBB Customer Review Rating plus BBB Rating Overview

Additional Locations

  • 19065 Hickory Creek Dr STE 300

    Mokena, IL 60448

  • PO Box 335

    Olympia Fields, IL 60461


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

Complaint Detail(s)

9/26/2014 Delivery Issues | Read Complaint Details

Additional Notes

Complaint: I took out an installment loan with Personal Finance. I paid for disability coverage (this was pushed by Personal Finance as they are part of the same company) in case I would have any disability issues while I was paying the loan. I did take a bad fall and became disabled. My doctors forwarded all the needed information to Personal Finance and ********* Life. ********* Life kept making excuses for paying on my policy late. Personal Finance who is part of the same company as ********* Life marked my credit reports as being late when it was the fault of ********* Life. In addition, I have copies of checks I submitted to Personal Finance where their office actually "blacked out" the date I paid. This is illegal. To date, Personal Finance has not made any effort to contact the credit bureaus and straighten this out. I dealt with **** ******** at Personal Finance and he promised me on more than one occasion that my credit would not be affected, and if it was, it would be straightened out by the company. Personal Finance never did what they promised. I have supporting documentation on all of this. I am a senior citizen who has been terribly abused by both of these companies that work together as they are part of the same group. I always paid on time with prior loans that I took out with Personal Finance and again, I have documentation to prove this. I want justice and my credit straightened out once and for all.

Desired Settlement: I want all the negative information removed from my credit reports at all three bureaus. Both ********* Life and ******** Finance failed to meet their contractual agreement with me. They are part of the same company. I paid for disability coverage. I want the public to know what they did to me.

Business Response: Initial Business Response /* (1000, 5, 2014/08/15) */ Contact Name and Title: **** ********* Vice Presi Contact Phone: (XXX) XXX-XXXX Contact Email: ************* Ms. ********* had contacted the Better Business Bureau In April 2013 with this same complaint. At that time it was agreed that Personal Finance Company as a gesture of goodwill would rate her account as "un-rated" in the three credit bureaus and delete any negative payment history. Personal Finance at that time notified all three (3) credit bureaus and corrected the rating, see exhibit #1. Personal Finance Company has no control over what the individual credit bureaus do with our information once submitted to them. All negative pay histories and account ratings were to be corrected as promised. Personal Finance Company has once again, on today's date, submitted another request to the three (3) credit bureaus to correct the reporting of Ms. ********* showing the account as "un-rated" and deleting all negative payment history. Initial Consumer Rebuttal /* (3000, 7, 2014/08/21) */ (The consumer indicated he/she DID NOT accept the response from the business.) The reason I had to go to the BBB again is because this negative information still remains on my credit reports with all three agencies. It was through no fault of my own that payments were late. I signed a contract with Personal Finance and was promised by their employee, *****, that there would be not negative reporting. I paid for disability coverage through Personal Finance's sister commpany. They were responsiable to make sure that no negative information be reported and that the bills were paid on time when I was injured. Neither one of these things has occurred. To date, nothing has been straightened out. Since this insurance company is a sister company of Personal Finance, they had full control of these things. It is very important that Personal Finance show my accounts as being paid current. Again, their insurance company was reponsible for on time payments to Personal Finance when I was injured. Final Business Response /* (4000, 11, 2014/09/15) */ Although the payment history is technically correct, as a customer courtesy PFC submitted a request to the credit reporting agencies to delete the payment history on August 15, 2014. It typically takes up to 45 days for the changes to be processed. The customers rebuttal was submitted 6 days after our changes were submitted. This is not sufficient time for the credit reporting agencies to make the requested changes. We have contacted the customer with our response. We will take no additional action on the account and consider the matter closed.

10/28/2013 Advertising/Sales Issues | Read Complaint Details

Additional Notes

Complaint: -personal finance company -lien placed march 31, 2010 -attorney #XXXXX *********** of *** w. ***** st. ******* *****t, **. XXXXX ph.XXX XXX-XXXX, -fax XXX XXX-XXXX -doc.#XXXXXXXXXX -ct. case# 09mXXXXXXX -owner of the loan ****** R. ******** -monthly payments vary -bal. unknown $500.00 - $750.00 owner refused -acct. unknown owner refused -judge **************** order in the decree that each party be held accountable for any debts in their own name holding the other party free - ------------------------------------------------ X-XX-XX additional info from consumer: PFC is currently receiving garnish payments and refuse to release their lien since march 2010, on my property where the defaulted party has no interest.

Desired Settlement: -an immediate release of their lien on my property which has cost me hundreds since my refinance was approved sept.26,2012. by *************. mr. ********** -$2000.00 for all the inconvenience

Business Response: Initial Business Response /* (1000, 5, 2013/09/20) */ Contact Name and Title: **** ********* Supervisor Contact Phone: XXX-XXX-XXXX Contact Email: ************* Chain of events concerning Mr. *******'s BBB complaint. 09/17/2007 - Mrs. ******* cashed a Live Check from PFC for $1,000 creating a loan in this amount. 03/31/2010 - PFC was granted a judgment against Mrs. ******* for none payment and a memorandum of judgment was filed against any properties she might own in **** County. At the time she was a joint owner with her husband of a property located at **** S **** Street, ******** 04/14/2010 - The ******** entered into a Judgment For Dissolution of Marriage and Mr. ******* was awarded the residence in the Property Settlement and Mrs. ******* was to quit claim the property. Both parties represented and warranted there were no outstanding liens on the property other than the first mortgage. 05/12/2010 - PFC's attorney filed a wage garnishment against Mrs. ******* and started to receive minimal payments monthly, 10/28/2010 - ******** filed a foreclosure proceeding against the ******** 06/08/2012 - Mrs. ******* quit claimed the property to Mr. *******. 09/26/2012 - Mr. ******* was approved for a HARP loan pending release of his ex wife's judgment liens from the title. Mr. ******* is still trying to get the property refinanced and is seeking PFC to release our judgment lien. Mr. *******'s attorney has been in touch with PFC's attorney and Mr. *******'s attorney agreed that PFC has a valid lien on the property and they are trying to negotiate a settlement to release our lien. Our judgment balance per our attorney is $668.95. Final Consumer Response /* (3000, 7, 2013/09/26) */ (The consumer indicated he/she DID NOT accept the response from the business.) sept. 26, 2013, i had my daughter text their mom about paying the lien off but she refused just as i thought she would. being the third party, to finally resolve this in good faith i would like to offer a fair payment of $222.98 for the release of their lien. the reponsible ******************* only be held accountable for her defaulted loans. She just don't care. to punish my girls and i for another year or two is not right but i know who is watching this. Final Business Response /* (4000, 11, 2013/10/16) */ Settlement terms were submitted to Mr. *******'s attorney by PFC's attorney on October 1, 2013. To date PFC's attorney has not hear back from Mr. ******* or his attorney concerning the settlement and release of lien.