How to File a Payday Loan Complaint

As a consumer, you have the right to be heard. The power of thousands of consumer complaints can make a huge impact on the fight against the vicious cycle of payday loans.

Payday loans are small, one-time loans aimed toward consumers who find themselves in need of a temporary financial fix. They are a form of predatory lending due to their short payback periods and extremely high interest to file a payday loan complaint

Consumers who take out payday loans often find themselves trapped in a cycle of debt that lasts for months and results in accumulated interest rates as high as 780%. That small loan suddenly becomes a huge debt and can be very bad news for a consumer’s credit and financial situation.

But it doesn’t have to be this way! Together we can end the suffering caused by predatory lending. There are organizations and tools in place designed to give the consumer a voice and minimize the power of these lending agents.

The Consumer Financial Protection Bureau (CFPB) is, in the organization’s own words, “a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.”

The CFPB has an online platform for consumers who wish to file a complaint against a product or service. If you or someone you know has been affected by the vicious cycle of payday lending, visit to file a payday loan complaint and make your voice heard.

The process is very straightforward. You must answer:

  • Who the complaint is about
  • The type of problem you are having
  • What happened
  • What company the complaint is about
  • Who are the people involved

Be sure you know the dates, amounts, and details about your complaint and any documents that may help your case. You generally cannot submit a second or follow-up complaint so be as thorough as possible. The CFPB will usually send you a response within 15 days.

If you do not know anyone affected by payday loans but want to take action in the fight, check out our blog post on how to contact Ohio State Representatives to persuade them to support payday loan reform legislation.

If you or someone you know if considering taking out a payday loan, come to us first. The Hebrew Free Loan Association is a nondenominational organization that provides interest-free loans to those in need. We work diligently to fight payday loans and want you to come to us before you ask for help from a payday lender.

To help us in the fight against predatory lending, visit our new donor platform and see the work we do every day to protect and support our community. Remember, every voice makes a difference.

Join us in the fight against payday loans in Northeast Ohio! Click here to find out what your dollars can do.