BBB Business Review
This Business is not BBB accredited
Tower LoanFind a Location
PO Box 320001, Flowood, MS 39232
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This business is not BBB accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Factors that lowered the rating for Tower Loan include:
- 73 complaints filed against business
- BBB does not have sufficient background information on this business
Factors that raised the rating for Tower Loan include:
- Length of time business has been operating.
- Response to 73 complaint(s) filed against business.
- Resolution of complaint(s) filed against business.
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||43|
|Total Closed Complaints||73|
Additional Complaint Information
The BBB has received numerous calls from consumers regarding pre-screened loan offers from Tower Loan in Flowood, MS. Some consumers received un-solicited loan checks in the mail. Consumers were concerned these checks could be cashed by the wrong person and then would be held liable for the amount of the loan. The BBB contacted Tower Loan for more information. According to a representative from Tower Loan, once the check is deposited, a verification call from a Tower Loan representative will be made to the consumer of the account. If the check was deposited by someone other than the person on the check, an affidavit is sent to the bank to recover the deposited check and the accountant's information. The loan will no longer be responsible to the victim, and the account will be closed. Pre-screened loan offers are mailed to consumers who have previously had loans with Tower Loan, or submitted an application for a loan.
The BBB has requested basic information from the company but has not received a response. As a result, the BBB may not have current information about the company.