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Business Profile

Financial Services

Prompt Financial Solutions

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 0 complaints closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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  • Initial Complaint

    Date:21/03/2023

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    In April 2020 I arranged a loan from Prompt Financial Solutions for debt consolidation. Since then(every year) I am hit with what I believe is an exorbitant renewal fee that over the course of the loan add about 5000$. In addition there "fixed" annaul interest rate has increased a full 4%. In addition, the original agreement I signed did not contain the sections 3 6 7 9 11 and 16 regarding fees and costs

    Business Response

    Date: 14/04/2023

    Good Morning,

    I understand the client's frustration, however Prompt Financial believes in full disclosure to ensure our clients know exactly what they are getting and agree to.  I have enclosed the application Mr. ******* submitted and signed. As you can see on pages 3 and 4 that are initialed, the fees and renewal clauses he argues he never received are there and acknowledged by him.  As for the renewal process and fees, all clients are notified 60 days in advance of the new terms of the loan.  I have attached the 2 renewals that the client received.  The fees are no where near $5,000 he claims - one is $627.27 and the other is $857.18.  The interest rate on the first renewal remained unchanged from his initial loan, however in 2023 we have had to increase interest across the board to accommodate the **** ** ****** rate increases.  The client had sufficient notice at both renewals to arrange alternative lending and pay us out if he did not want to accept the new terms of his loan. 

    I apologize for the delay in responding as your request only came to my attention this morning.  I would be pleased to address any further questions or concerns you might have.

    Julie M.

    Vice President of Operations

    Prompt Financial Solutions Corporation

     

     

Prompt Financial Solutions is NOT a BBB Accredited Business.

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