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Business Profile

Financial Technology

Meratas Inc

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Financial Technology.

Complaints

Customer Complaints Summary

  • 27 total complaints in the last 3 years.
  • 22 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:12/18/2024

    Type:Order Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I used services from ******** operating as ********* ***. and they had a contract servicer called Leif. I paid my contract in full on 12/2/2022 and have a confirmation saying my payment was received 2 years ago. ******** also confirmed my payment was received and contract fulfilled. Meratas is the new contract servicer and keeps reaching out to me to pay my non-existent contract. I keep providing Meratas the same information, keep having the company that hired them, ******** reach out to let them know my contract is fulfilled, and keep providing documentation showing my contract is paid in full over 2 years ago but Meratas keeps reaching out.

  • Initial Complaint

    Date:12/02/2024

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I received a notification from ******* claiming that I owe $747 dollars. My *** contract was previously owned by ****, in which my loan was in deferment as of 05/07/2024. My contract states that states I only make payments if I work as a ******** ********* **** ******** ***** ********* ** ** (which I don't work in any of these fields). I am a Customer Service Representative, my job title, duties, or employer has not changed since the deferment approval from ***** **** (formerly ****** ******) and **** on 05/07/2024.

    I never received any notification that my *** agreement was going to be switched to *******. I also called the number they provided on the email and their website, ###-###-####, and it is disconnected. I can't upload documents on their website either. I did NOT receive any notification from ******* to upload any documents as well. They also have on my account how much I make, which would have had to come from ***** **** (formerly ****** ******) or ****, which they would have had to send the deferment information as well.

    They are also stating that I am enrolled in automatic payments, which I did not consent to. It states that I can change this option if I login to my account (this is a lie), call their number ###-###-#### (which is disconnected), or email **************** (which was my only option).

  • Initial Complaint

    Date:11/20/2024

    Type:Order Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have a payment plan set up originally by ****. **** transferred services to Meratas. Prior to the continuation of my payments on the new platform, I reviewed the terms that were original to the agreement. Merats has breached the original contract and is attempting to have me pay more than my contract stipulates. I have attempted to contact them several times but their phone number is disconnected and they are not responding via email.

  • Initial Complaint

    Date:11/15/2024

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have a monthly payment due every month on the 15th of the month. If I pay before the date, the website works just fine. However, EVERY time if I try and pay on the due date, the "Pay" option is not available on their website. It's like they do this on purpose if hopes that I don't pay on time so they can charge me even more than they are charging me already.

    Everytime I have to stress out and send them an email telling them and they will put the payment through. It's fishy that it is ALWAYS on the 15th that this pay option is magically just not there. They don't perform callbacks to voicemails and never answer their phones when you call. I have called hundres of times and left countless voicemails and never get a call back. I've actually never talked toa human over the phone at this company, only by email. I will be glad to pay off my loan balance so I can never interact with this company ever again.

  • Initial Complaint

    Date:11/11/2024

    Type:Billing Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Meratas became the new servicer to a loan product I originally had through ****.

    The loan product is a 9% Income share agreement every month meaning I pay them exactly 9% of what I make every month.

    When Meratas took over, I emailed them numerous times about the inability to edit my monthly income (as I am an hourly employee and my monthly pay varies from month to month.

    Meratas never responded to my emails about my complaints and never offered me any assistance.

    Their phone number listed on their site goes directly to a 'this call cannot be completed as dialed' message and hangs up.

    Thus, when the monthly charge came around, it charged me 9% of the maximum money I can make every month which was roughly 500 dollars different from what I actually owed them.

    They have not responded to my emails for help on the matter, have no phone number to call, and I cannot reach them in any other way.

    I dont know how I am going to get the money back that they now owe me.

    I also cant disable the auto monthly deduction and am worried I will be charged too much again at the end of this month.

    I only owed 720 for this month but paid 1152 so I paid 432 more than I should have.

    Ive attached my pay statements for this month.

  • Initial Complaint

    Date:10/22/2024

    Type:Order Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I recently got an email from Meratas about them taking over an *** Contract from **** which I didn't agree to and I don't have a contract with Meratas when it comes to this matter. Now Meratas just sent me another email stating I have a payment due this November to pay them.

  • Initial Complaint

    Date:10/15/2024

    Type:Order Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Dear Better Business Bureau,

    I am filing this complaint against Meratas, the current servicer of my Income Share Agreement (ISA), due to their failure to provide clear instructions for uploading financial documents, which has resulted in an unfair fine.

    I signed an ISA with ********* (formerly ****** ******) on October 23, 2018. My ISA was serviced by **** ***********s until August 15, 2024, after which the servicing was transferred to Meratas. After the CFPB Consent Order issued on April 17, 2024, I believed my ISA should have been canceled, causing confusion. When I realized I wasn’t an affected consumer, I still struggled to sign up for Meratas' platform as they failed to provide proper instructions. I repeatedly tried to sign up through *********, but it didn’t work, and Meratas provided no support.

    By the time I finally figured out how to sign up on my own, the window to upload my financial documents for September 2024 had already closed. Now, Meratas is planning to count my income for that month as the minimum threshold ($4,200) and deduct 17% of that amount, even though I don’t have a qualifying IT job.

    I have informed Meratas that the delay was due to their lack of guidance, but they still intend to penalize me. I am requesting that Meratas allow me to upload my documents for September without penalty, as the delay was caused by their failure to inform me properly.

    Thank you for your attention. I look forward to your assistance in resolving this unfair situation.

  • Initial Complaint

    Date:10/08/2024

    Type:Order Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I graduated from ****** School in 2019. It has been 5 years since I signed an ISA with them. Recently the ISA was transferred to Meratas. Meratas, via email, has requested that I create an account with them. I find this puzzling since I have not worked in Software Development nor Data Science in the past 5 years (making $50K+ a year), both conditions of the ISA. At the end of 5 years the ISA obligation is to be terminated if the above conditions have not been met. This is the case. I have tried several times to contact Meratas, but none of their listed contact phone numbers or emails work. How is it possible that a company working in the field of finance, claiming to service thousands of customers, be completely out of contact? Yet, at the same time, have an automated email service working just fine to remind me (and others I suspect) to create an account with them? The lack of professional standards, albeit minimal standards, at Meratas is jaw dropping.

  • Initial Complaint

    Date:09/30/2024

    Type:Order Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I signed a *** with my coding school and was repeatedly told it was not a loan by the school there is even a disclaimer in the contract with the school stating that the *** is not a loan or credit but according to the ******** ********* ********** ****** it is in fact a private student loan and therefore credit if I had known that, I wouldn’t have signed I hope the business can get in contact with me so they can explain but the number does not work and the emails remain without response

  • Initial Complaint

    Date:09/18/2024

    Type:Customer Service Issues
    Status:
    Unanswered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have a student loan with Meretas and monthly that I upload income verification, this month it would not allow me to do this. I have now sent 7 emails, attempted contact on LinkedIn and X because 7 emails have gone unanswered. because I can't upload the information and my requests for help have gone unanswered I all of a sudden owe bill that according to my loan agreement I should not have. I have video showing that I attempted the steps and that there was no option to upload documents. I have included this in at least 1 of my emails as well as the pay stubs that they require, I did not attach them in subsequent emails just in case that was why my first email was unanswered. My first email was sent to them on Sept. 5, the deadline is the 9th so I should have had plenty of time for a reply.

Meratas Inc is NOT a BBB Accredited Business.

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