Share
Business ProfileforSnap Finance
Current Alerts For This Business
1C. Be free from government action that demonstrates a significant failure to support BBB ethical principles. BBB evaluates the action and makes a determination on adherence to this standard based on the nature of the violation and the extent of harm it caused or is alleged to have caused, whether it was caused or condoned by management, and actions taken to resolve underlying issues that led to the government action.
Additional business information
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On May 15, 2023, Snap Finance, LLC entered into a settlement with Pennsylvania's Office of the Attorney General. This settles allegations that the business misled consumers about the basics of their contracts, including advertising its rental-purchase agreements and rental-installment contracts as "100-Day Cash Payoffs" when consumers were actually signing a 12-month agreement that included leasing fees equivalent to 152% APR interest.
Under the terms of the settlement, Snap Finance and its affiliates, Snap RTO LLC, Snap Second Look LLC, and Snap Finance Holdings, LLC was ordered to pay $7,300,000 to consumers as cash restitution payments and another $3,150,000 in consumer debt relief.
The settlement should not be considered an admission of guilt or a finding of a violation of the law. For more details go to https://www.attorneygeneral.gov/wp-content/uploads/2023/05/2023-05-15-Snap-Consent-Petition.pdf.
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven.
On July 19, 2023, The Consumer Financial Protection Bureau (CFPB) sued Snap Finance, LLC alleging that Snap Finance has offered and provided millions of "lease-purchase" and "rental-purchase" financing agreements in ways that have harmed consumers, including through misleading advertisements, insufficient disclosures, and interfering with consumers' ability to understand the terms and conditions of its financing agreements. The CFPB further alleges Snap Finance's illegal conduct continued in its servicing of those agreements, including misrepresenting consumers' payment obligations and making false threats in collections. For more information CLICK HERE.
At-a-glance
Customer Complaints
473 complaints closed in last 3 years
155 complaints closed in last 12 months
Customer Reviews are not used in the calculation of BBB Rating
Related Categories
Products & Services
Business Details
This is a multi-location business.
- Location of This Business
- 1193 W 2400 S, Salt Lake Cty, UT 84119-1547
- BBB File Opened:
- 3/21/2013
- Years in Business:
- 11
- Business Started:
- 5/1/2012
- Business Incorporated:
- 5/1/2012
- Type of Entity:
- Limited Liability Company (LLC)
- Alternate Business Name
- Snap Finance, LLC
- Related Businesses
- Business Management
- Mark Allred, Senior Director
- Contact Information
Customer Contact
- Mark Allred, Senior Director
- Additional Contact Information
Phone Numbers
- (801) 336-5230Other Phone
- (801) 336-5230
Customer Complaints
473 Customer Complaints
Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews
File a ComplaintMost Recent Customer Complaint
04/04/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
Customer Reviews
1,338 Customer Reviews
What do you think? Share your review.
Most Recent Customer Review
Michele P
04/22/2024
Snap Finance Response
04/23/2024
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business.