Grades are also broken down by the financial products offered be each institution. Cottonwood Financial Ltd. is rated "B-" in Debt Collection, and "B+" in Payday Loans. Click on any of the financial products to see how Cottonwood Financial Ltd. compares.
Cottonwood Financial Ltd. has received 50 consumer complaints since April, 2014 – more than 87% of other banks.
Of those complaints, 100% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Cottonwood Financial Ltd. meets the 60-day response deadline more frequently than 70.4% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 16% of customers dispute Cottonwood Financial Ltd.'s response to complaints — better than 61.9% of other companies.
Most of Cottonwood Financial Ltd.'s customers complain about payday loans with the primary issue being "charged fees or interest i didn't expect."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Payday loan||Charged fees or interest I didn't expect||10|
|2||Payday loan||Can't contact lender||8|
|3||Debt collection||Payday loan||Improper contact or sharing of info||6|
|4||Debt collection||Payday loan||Taking/threatening an illegal action||5|
|5||Debt collection||Payday loan||Improper contact or sharing of info||5|
|6||Payday loan||Can't stop charges to bank account||4|
|7||Debt collection||Payday loan||Communication tactics||4|
|8||Debt collection||Payday loan||Taking/threatening an illegal action||4|
|9||Debt collection||Payday loan||Cont'd attempts collect debt not owed||4|
|10||Debt collection||Payday loan||Communication tactics||4|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||76||76 (100%)||13 (17.1%)|
|2||Closed with non-monetary relief||1||1 (100%)||0 (0%)|
|3||Closed||1||1 (100%)||0 (0%)|