Business ProfileforSpring Financial Inc.

As of May, 2022 BBB files indicate that this business has a pattern of complaints concerning the following issues:

Customer Service Issues:
Consumers are experiencing no follow-up or contact from business for a long period of time.
Products and contracts aren’t explained properly to consumers at initial consultation.

Billing and Collection Issues:
Credit report corrections required due to lack of customer service.
Lack of understanding on loan products due to improper explanations.

Sales Issues:
Consumers aren’t given adequate time to read and/or understand the contract prior to signing.
Consumers have expressed feeling coerced or pressured.

Service Issues:
Consumers expressed being pushed to sign agreements without fully understanding the product and difficulty in canceling their agreements.
Consumers expressed payment issues.

Contract Issues:
Consumers expressed being pushed to sign agreements without fully understanding the product and difficulty in canceling their agreements.
Credit report corrections required due to lack of customer service.


We offered Spring Financial the opportunity to address the above identified pattern and Spring Financial implemented changes in their process to mitigate some common issues raised through consumer complaints. We have also noticed that a number of complaints has dramatically decreased:
 
Customer Service Issues:

Consumers complained about being declined for a loan and solicited for a product suggesting that they will be receiving a loan.

Consumers complained about receiving a contract to make a payment.

Consumers complained about receiving unsolicited calls.