Deer Creek Lending
Deer Creek Lending Overview
The generated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Deer Creek Lending has a 1.0 star rating from 1 review and consumers are mostly dissatisfied. Recent Deer Creek Lending reviews warn to avoid due to predatory lending and excessive interest fees that kept principal unchanged despite automatic payments.
Key Takeaways for Future Customers
- Review APR and loan structure closely before signing.
- Monitor automatic payments and request clear billing breakdowns.
- Document payments and contact regulators if refunds are needed.
Negative Feedback / Risk Areas
- Customer complaints about 521.9% APR and interest-only allocation.
- Reports of deceptive hidden fees and difficulty obtaining refunds.
- Predatory billing structure that can trap borrowers.
Positive Feedback
No positive feedback was provided in the available review.
The generated data is based on reviews and questionnaires provided by PissedConsumer.com users.
Deer Creek Lending has a 1.0 star rating from 1 review and consumers are mostly dissatisfied. Recent Deer Creek Lending reviews warn to avoid due to predatory lending and excessive interest fees that kept principal unchanged despite automatic payments.
Key Takeaways for Future Customers
- Review APR and loan structure closely before signing.
- Monitor automatic payments and request clear billing breakdowns.
- Document payments and contact regulators if refunds are needed.
Negative Feedback / Risk Areas
- Customer complaints about 521.9% APR and interest-only allocation.
- Reports of deceptive hidden fees and difficulty obtaining refunds.
- Predatory billing structure that can trap borrowers.
Positive Feedback
No positive feedback was provided in the available review.
Media from reviews
Turn one complaint into a collective action
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Verified Reviewer |
Houston, Texas
Predatory Lending/excessive fees/deceptive business practices
- - Loan of $725 with 521.9% APR; principal unchanged.
- - Total charged: $2,336.98 on a $725 loan; lump-sum close of $753.64; refunds requested.
I am a *** resident filing a warning about Deer Creek Lending. On January 23rd, I took out an emergency installment loan for a principal amount of $725.00.
The loan paperwork contained an unconscionable 521.9% APR that made it mathematically impossible to lower my principal through standard monthly payments.Over the life of this loan, I completed 22 consecutive automatic payments of $71.97, which totaled $1,583.34. Despite paying back more than double what I originally borrowed, 100% of my money was applied directly to interest fees, and my principal balance remained at the full $725.00. To break free from this predatory cycle, I was forced to pay a massive additional lump sum of $753.64 just to close out the account early.In total, this company extracted $2,336.98 from me for a $725.00 loan.
I have formally escalated these predatory billing structures and deceptive hidden fees to both the Texas Attorney General's Office and the federal Consumer Financial Protection Bureau (CFPB) for active consumer protection review. I am demanding a fair refund and settlement for these hidden charges.
- High lumpsum fees required to close the account early
- Extreme 521 apr interest rate
- Principal balance hardly decreases with scheduled payments
Preferred solution: Full refund
User's recommendation: Avoid this company completely. Their lending structure is designed to trap you in an endless cycle of interest fees where your payments never reduce your original balance. Check the interest rates and the structural cost of credit carefully before signing any paperwork with them.
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Under normal circumstances checking interest rate and an end date (and doing the math of #monthly payments X $$/month) is advised. But you had an emergency, poor credit and no other options. Ironic that you are whining about it now.