@Anonymous wrote:
I have been in literal hell with MoneyLion for over a month. I took a loan out with them for only $500. I paid on time every month but became 30days late in April due to COVID related issues. I got back on track. Mind you, they did not offer any provision for customers who were impacted by COVID. Oddly, they reported that the account went to "collections" in May and was marked as a charge off and closed. Then in June and July, it was marked as 60 days late. This week, my equifax score went down 35 points and my TU decreased 12 points. I have been LIVID!! Mind you, I paid the account off in full in July and it's not reporting that. I disputed with the credit bureaus and the results came back with this madness. Even WORSE! I have called them more times than I can remember, to no avail!! It's impossible to speak with a supervisor. It's just AWFUL! I reported them to the BBB and someone from the corporate office is supposed to be contacting me, but I doubt it will happen. Although, a part of me feels that eventually the issue will be corrected this is MADDENING! On top of that, I need a new car and I was supposed to get one next weekend after working SO hard to improve my credit!! I am so upset. Yesterday, I was almost in tears.
Does anyone have any suggestions for how I can handle this?
These people are AWFUL!!
I had a similar "quick loan" or payday loan style loan like moneylion (Rise) and they sent me to collections at 30d (was literally the last payment of the series and did not realize it did not clear and no communication from them). They are fast cash places. They assume if you hit 30d late, that is that and they wash their hands of you. Somehow, you managed to pull it back from CA (at least you also don't have a CA reporting like I do and here I am over 6 hears later with both still on my reports!). I am unsure about the additional lates they marked. Did you try to work with them before it became late? I know this is well after the fact, but maybe you could keep working up the chain and talking to each person's superior until you get somewhere.
If not, I would gather all payment documents that prove you were not 60d, etc. late and submit it to the CRAs CMRRR (snail mail, not an online dispute, since you have disputed they will not investigate without further proof/evidence from you and will likely deem further disputes as frivolous) and let them adjust the lates from there.
I do say, if you were 30d late in May and did not lay until July, that technically would mean you were 60d late in June and be thankful they did not mark you 90d late in july. 30d and 60d lates fade with time. 90d+ lates sting for the entire 7 years they are on your reports!
Good luck!
