About

Important information

• Additional Info:

  "In July, 2022, the BBB investigated WithU Loans business practices. This investigation was prompted by a large volume of complaints. Concerning high interest rates and depositing loans into consumers account without them inquiring about a loan with this business. On November 8th, 2022, the BBB sent an email to WithU Loans with the following questions

  
  1.) Can you tell me a little bit about your interest rates?

  
  2.) Consumers report receiving a loan from you business without inquiring about a loan. Can you tell me a little bit about these type of situations?

  
  3.) How can you deposit a loan into a consumers account without their knowledge or them agreeing to the loan?

  
  4.) How often are consumer required to pay an installment?

  
  5.) Can a consumer request their installment be due on a different date?

  
  BBB received a response from the business. In the response the company indicated:

  1) Interest Rates

  Rates reflect higher risk applicants with limited credit histories and are competitive with similar online lenders. Terms and rates are disclosed upfront, and customers must review and accept them before signing.

  2) Loans Without Inquiry

  WithU Loans uses fraud detection tools to verify identity but acknowledges no system is fraud-proof. Verified fraud claims are fully reimbursed and removed from credit reports. Contact info is prominently provided for reporting concerns.

  3) Unauthorized Deposits

  Bank details must be submitted during application. In rare cases of fraud—often involving someone the victim knows—consumers should contact WithU Loans for resolution.

  4) Installment Frequency

  Repayment is based on the borrower’s pay schedule—weekly, bi-weekly, semi-monthly, or monthly.

  5) Changing Due Dates

  Yes, customers can adjust payment dates if their pay schedule changes by contacting support.

  6) Website Access Issues

  The portal is available 24/7. Reported access issues are investigated via web footprint analysis to resolve technical or user errors.

  7) Contact Center Access

  Support is available by phone (Mon–Fri: 7am–8pm, Sat: 7am–4pm CST). 2024 average answer time: 20 seconds, abandonment rate: 1.83%. Metrics show improvement since COVID-related delays.

  8) Contact Center Complaints

  All calls are recorded and reviewed. Complaints trigger investigations and coaching when needed.

  Based on the information detailed above, BBB cannot state with confidence that we have a clear understanding of the business practice. The BBB is currently working with the business to gain clarity on the current pattern of complaint and investigation concerns.