| Name of Complainant | |
| Date of Complaint | April 16, 2024 |
| Name(s) of companies complained against | Mpokket |
| Category of complaint | Internet Services |
| Permanent link of complaint | Right click to copy link |
| Share your complaint on social media for wider reach | |
      |
|
I am writing to formally register a complaint against the practices of mPocket Loan Lenders. As a customer, I have experienced egregious instances of unfair treatment, primarily stemming from exorbitant interest rates and relentless harassment through incessant phone calls.
First and foremost, the interest rates charged by mPocket Loan Lenders are unjustifiably high, creating an unsustainable financial burden on borrowers. Despite the initial terms agreed upon, the interest rates seem to inflate over time, resulting in an overwhelming accumulation of debt. This predatory lending practice not only exploits vulnerable individuals but also undermines the principles of fair lending.
Furthermore, the incessant phone calls and communication tactics employed by mPocket Loan Lenders amount to nothing short of harassment. Daily calls inundating my personal and professional life have led to significant mental distress and anxiety. The constant badgering for repayment, often in aggressive tones, is not only unprofessional but also unacceptable.
I demand immediate action to rectify these issues:
Interest Rate Review: Conduct a comprehensive review of the interest rates charged to borrowers and ensure they are fair, transparent, and compliant with regulatory standards.
Cease Harassment: Implement strict guidelines to regulate communication practices, ensuring that borrowers are not subjected to incessant calls or harassment tactics. Respect boundaries and provide reasonable avenues for communication.
Compensation for Mental Distress: Provide appropriate compensation for the mental distress and anguish caused by the harassment tactics employed by mPocket Loan Lenders.
Transparency and Accountability: Commit to transparency in all dealings with customers and establish mechanisms for accountability to prevent future occurrences of predatory lending practices and harassment.
Failure to address these concerns promptly and adequately will compel me to pursue legal action and escalate this matter to the relevant regulatory authorities. I expect a timely response outlining the steps being taken to address these issues and prevent their recurrence in the future.
Thank you for your attention to this matter.
Image Uploaded by Daniel: