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Despite the investigation and lawsuit from the ftc this company continues to illegally inflate loan amounts, charge illegal interest rates and offers no truth in lending disclosures. In Oct 24 they refinanced their holdings at an even better rate by using predatory practices against their customers to over collect on their holdings. The customers should all stop paying, they are going to ruin your credit anyway and will never call your loan paid off. Stop now feeding this beast, it’s the only way to end the abuse.
Recommendation: See above-hopefully there are no future customers
The settlement is only for the water filtration customers. Their fraudulent loan in my name and illegal collection practices have already destroyed my credit despite this case being reported to the ftc, the attorney general of my state, all 3 reporting bureaus and the c3 branch of the fbi for identity theft. All interactions are well documented and a law firm has been involved. Until a class action or settlement is expanded to include more than the water filtration customers I stand by my statements. Stop feeding them money hoping they will fix the damage they have done. They are using fraudulent loans to prop up their predatory lending practices in an effort to appear legitimate and not lose their ability to report to credit bureaus because that is the weapon they use to extort money.
Aqua Finance has been under scrutiny for deceptive practices, leading to a $43.6 million settlement with the FTC in May 2024. If you're experiencing issues like inflated loan amounts or undisclosed terms, immediately file a complaint with the FTC and your state's consumer protection agency. Ceasing payments can damage your credit; instead, seek legal counsel to explore options like disputing charges or negotiating settlements. Document all interactions with Aqua Finance meticulously. Collective legal action may also be a viable path.