tower loan complaintsPublished December 9, 2023
Solution: How to Address and Resolve Tower Loan Complaints: Tips and Strategies for Customer Satisfaction
[Tower Loan](https://www.towerloan.com/) is a financial company that offers personal and installment loans to individuals in need of financial assistance. While Tower Loan has been in business for over 80 years and prides itself on providing excellent customer service, like any company, it has also received complaints from customers. In this article, we will delve into the most common [Tower Loan complaints](https://www.bbb.org/us/ms/west-point/profile/consumer-finance-companies/tower-loan-inc-0523-12000085/customer-reviews) and provide insights into how the company handles these issues.
Customer Service Complaints
One of the most common complaints against Tower Loan is related to their customer service. Many customers have reported difficulties in communicating with the company's representatives and getting timely responses to their queries. This can be frustrating, especially for individuals who are in need of quick and efficient solutions to their financial problems.
According to [Better Business Bureau](https://www.bbb.org/), customers have complained about long wait times on the phone and unresponsive or unhelpful agents. Some customers have also reported issues with the company's online platform, stating that it is not user-friendly and often crashes. This can make it challenging for customers to access their account information or make payments, leading to further frustration.
Tower Loan has acknowledged these complaints and has taken steps to improve its customer service. The company has increased its staff to handle the influx of calls and has implemented a new online platform to make it easier for customers to manage their accounts. Additionally, the company has introduced a callback system, allowing customers to schedule a time for a representative to call them back, reducing wait times on the phone.
Loan Approval and Repayment Complaints
Another common complaint among Tower Loan customers is related to the loan approval and repayment process. Some customers have reported that their loan applications were denied without a clear explanation, while others have expressed dissatisfaction with the high-interest rates and hidden fees associated with their loans.
According to the [Consumer Financial Protection Bureau](https://www.consumerfinance.gov/), customers have also complained about difficulties in obtaining information about their loan terms and repayment options. This lack of transparency can make it challenging for customers to understand their financial obligations and manage their loans effectively.
Tower Loan has addressed these complaints and has taken steps to improve its loan approval and repayment processes. The company has updated its loan terms and conditions to make them more transparent and has provided customers with detailed information about their loan terms and repayment options. Additionally, Tower Loan has implemented a grace period for late payments and has waived some fees to help customers manage their loans more effectively.
Misleading Advertising Complaints
Some customers have also taken issue with Tower Loan's advertising practices, claiming that the company is misleading them with false promises. While Tower Loan advertises itself as a provider of quick and easy loans, some customers have reported that the company's application process is lengthy and complicated. Others have expressed dissatisfaction with the high-interest rates and hidden fees not disclosed in the advertising.
Tower Loan has acknowledged these complaints and has taken steps to improve its advertising practices. The company has updated its advertisements to accurately represent its services and has provided customers with a breakdown of all fees and interest rates associated with their loans.
In conclusion, while Tower Loan has received complaints from customers, the company has taken steps to address these issues and provide better service. Through increased staff, improved online platforms, transparent loan terms, and better advertising practices, Tower Loan is working towards resolving these complaints and providing its customers with a satisfactory experience. As with any company, customers should always read and understand the terms and conditions of their loans before applying and communicate any issues directly with the company.