I had originally signed a contract for…
I had originally signed a contract for a loan at 8.99 on 6/15/22, on 12/15/22 I was contacted by Powerpay because an additional loan was received for $50k. They asked was this additional work. I told them “no”. They told me to contact the contractor and have the newest loan canceled because I already have my 06/15 loan. I contracted the Contractor and they were doing that. On 12/22/22 the contractor contacted me and told me that power pay had canceled the original. I came in and talked with the contractor. He called powerpay while I was there and on speaker to try to get the issue straighten out, they then placed his call through to his Rep and it went to voicemail. He stated he had 3 other customers that were going through the same thing of the contract being canceled and new contracts with higher interest rates. I ended up signing a new contract with pp because the contractors work was completed and passed inspection. I personally contacted power pay on 12/22/22 and was told the loan representative would be contacting the contractor about the issue. In my original contract it states, If project is not completed within 6 months I would be required to start making payments. All I have asked Pp to do is honor the original contract at the original interest rate. Their answer is “nothing we can do the contracts expire after 6 months, you shouldn’t have signed the contract”. If I had known then I was dealing with a company that seems to do this routinely, as I have found out by the reviews on this site and others. I would had taken my business to my Credit Union and paid their home loan improvement doc fees.