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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:09/10/2024

    Type:Product 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 took a loan from Meratas Inc for school.. Due to stress and harassment I asked them for a payoff amount which they gave as $38,000. I took a $20,000 loan from my bank and they also withdrew an additional $11,000 from my savings account. I received an email stating that I had overpaid by $2,700 which will be refunded in 10 to 14 days. Two days ago I received an email asking me to update my income then later they went into my Wells Fargo account and depleted the account again! The account is now overdrawn and I have to pay Wells Fargo back. I don't know what is going on but I need this matter to be resolved. I am a single mother and a retiree. I have no pension since I just completed school two years ago. Every money I have has been taken by them and they are still threatening me. No one picks the phone and emails retuned does not pertain to the issue at hand.

  • Initial Complaint

    Date:08/27/2024

    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 an Income share agreement with a coding bootcamp that I was in deferment for, because I'm not working in the programming industry. The deferment was approved by the original loan company (lief) but the contract was just sent to Meratas this week. I logged into meratas and it says I have a payment due. I have emailed several times as the number they have online is not valid. They have not answered, they also are not letting me upload documents to prove my deferment.

  • Initial Complaint

    Date:05/14/2024

    Type:Product 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 had a Income Share Agreement (ISA) contract facilitated through Meratas. I completed the required payments In February of 2024, including confirmation from Meratas that I had completed the contract (included in attachments). In March, I was charged again for another monthly payment despite this. I have been attempting for 2 months to get a refund for this amount. I have recieved email correspondence from their help desk that refund was in processing, however after 2 months I have not recieved this. My ISA contract number was *********. I would like to get my refund processed and wanted to ensure no other borrowers go through this same issue that I have. I have included screen shots of the email, their site showing overpayment including the amount and the email chain that shows they claim to begin processing my refund when they have not

  • Initial Complaint

    Date:04/29/2024

    Type:Order Issues
    Status:
    Resolved
    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 am not sure of the best department to address this issue with, but I believe you are the most appropriate contact.

    I have reached out to Meratas, Inc. several times regarding discrepancies in my payment cap, but they haven't replied to my emails. The contract specifies that my ISA amount is $15,000. According to the contract, payments should not begin until my salary exceeds a certain threshold. However, the payment cap has been incorrectly set at $18,000, which is only applicable for contracts lasting 37 months or more. According to the terms of my contract, even if the calculation of the payment period began from the date the contract was signed, it is impossible for the duration to exceed 37 months. Given that my contract has only been active for 2 months, this seems incorrect and should be $15,000.

    Additionally, there is no clear comment on the exact contract period so I reached out again to ask if paying off the $15,000 ISA amount would terminate the contract. Unfortunately, I have not received any response after the second query. They responded to my first query but did not provide a clear explanation. Despite my follow-up questions, I have not received any further responses for over a month.

    There is a discrepancy of $3,000 in the payment amount. Could you assist me in resolving this issue?

    Business Response

    Date: 05/14/2024

    Good morning.  I am reaching out to Ms. ** directly to address her concerns.  Thank you.

     

    Kind regards,

    Harris B*****

    Customer Answer

    Date: 05/20/2024



    Better Business Bureau:



    I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

    I was able to get an answer from Meratas.Inc. I appreciate for your help!



    Sincerely,



    ****** **

  • Initial Complaint

    Date:04/16/2024

    Type:Product Issues
    Status:
    Answered
    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 an Income Shared Agreement with Meratas for a coding school that I attended. I have been making payments for the last two and a half years. My current payoff amount is $5,300. I secured a loan with my bank in order to pay off my loan with Meratas. I have been trying to contact someone at Meratas in order to move forward with the final payment. I have been emailing Meratas's help email in order to get in touch with an agent. They keep telling me that I need to provide information. So I do, but I still get no response. I have been trying to get ahold of someone since April 8th, 2024. My payment was due on the 15th. When I call, I get an automated agent who doesn't connect me, it hangs up on me. I feel like this is all being done on purpose so I have to keep paying the $980 per month to them. I really need help in resolving this issue. I was told that the payoff is $5,300 but I feel that they are purposefully making it difficult for me to pay the full amount so they can charge me more.

    Business Response

    Date: 05/14/2024

    Good afternoon.  Meratas Inc. is a servicer on Mr. ********* Income Share Agreement.  We have no record of his attempt to contact us, but will be reaching out to him directly to address this matter ASAP.  Thank you.

     

    Kind regards,

    Harris B*****

     

  • Initial Complaint

    Date:11/14/2023

    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 incorrectly authorized one of my payments for a higher amount than it should have been and I cannot get into contact with anybody to adjust this. I have emailed their customer support email 3 separate times and called over 10 times in the past 2 weeks, all with no response. I suspect that the company doesn't actually have any customer service employees and are taking advantage of gaining extra money through collecting late fees. All I wish for is to be put into contact with a member of their customer support team to rectify the incorrect amount.

Meratas Inc is NOT a BBB Accredited Business.

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