LoanMe Inc

LoanMe, Inc(“LoanMe”) has investigated the Customer’s complaint and has found that it acted properly at all timesThe Customer entered into an unsecured consumer installment loan with LoanMe on April 1, 2015, in the amount of $5,This amount includes the loan amount of $5,net the
Prepaid Finance Charge/Origination Fee of $The Note clearly notes at the top in the TILA disclosures an Annual Percentage Rate of 115.93% and a Total Finance Charge of $42,These disclosures were made in accordance with the requirements of the Truth in Lending ActIt is important to note that the Note contains a provision that allows a borrower to prepay their loan, in part or in full, at any time without penalty. When the Customer entered into her loan agreement with LoanMe she was directed to read the Note in its entiretyAfter she had reviewed the Note she electronically signed or initialed the Note in multiple locationsThe fourth of the signatures represents her confirmation that she had read and understood the terms and conditions of the Note With regards to calls, it is LoanMe’s business practice to contact customers who are delinquent on their accounts to seek paymentLoanMe strives to make each such call as professional as possibleWe are sorry if the Customer found any calls to be otherwiseHowever, please be advised that we have ceased all calls to the Customer as of July 31, 2015. Calls to delinquent customers are never intended to be anything other than a professional effort to collect a debt that has become delinquentLoanMe follows both state and federal debt collection practice guidelines with respect to debt collectionsTelephone contact attempts are only made between the hours of 8AM and 9PM local time, without exception, in accordance with the Fair Debt Collection Practices Act (FDCPA), even though LoanMe is not a debt collector as defined by the FDCPASeveral call attempts may be made during the course of a day, but once contact is made with the customer no further calls will be made that same day without the customer’s permission. Please be advised, on July 30, 2015, the Customer contacted LoanMe and requested assistance with her accountThe customer was approved for assistance and was offered a modification, which reduced her August and September payments. Our records indicate that the Customer’s payoff amount as of August 6, is $6,The Customer may contact LoanMe directly, at ***, if she has any further questions

I knew the interest was high but needed the loanMy issue came afterward getting the loanI was able to refinance my loan with a different company with a lower interest rateThe refi company sent a check to pay off the loan days prior to my first due dateThnking my loan was paid in full imagine my dismay to find they had debited my bank account for the full payment, even though I did not owe them anywher near thatwhen I called they said the couldn't apply the check they had received because more interest had accrued and therefore it did not pay my account in fullOk that's fine but apply the payment and deduct only what's still due after the factIn the meantime the account keeps accruing more interest even though they are sitting on a check to pay off the loan

I called and applied for a loan in the amount of $on 5/1/and was given an pre-approval within the next hour I submitted all requested documentation i.ebank statements, ID, pay stubs, cancelled check and references only to be turned down with no reasonI'm very dissappointed with the way and timing in regards to how this was handled

135-% Interest Rate should be illegal Nationwide! Borrowed $3,in and I still owe $3,017.85!! That's ridiculous!! Stay away from this company! Stay Far Far Away!
On a $Loan amount they charge interest rate of 138-200%!! I don't care how badly you need money right now, DO NOT use LoanMe!! They will rip you in half!

I had contacted loanme to make a settlement on loan #***, that was taken out Payments had been made and the account was in good standing The proceeded to give me a settlement of over 90% of what was owed from the total principle I accepted the amount on a recorded call, they however then charged me the remaining amount of the principle to my account, on the following month's due date I do not have any faith that the company will properly clear my account with the credit agencies based on my experience with them

I had taken a loan with this company everything was going good until a point where I had to get surgery and was out of town ,I was trying to work out something with them with my payments at one point I got behind in one payment I had talk to one of there customer service reps who he said I made a payment I was going to get in this plan of interest which was going to save me money at this point I thought all my payments were going with the principal since thats what we had agree to turns out when I was unable to give one payment I called and talk to a customer service to see what we can work out since I had receive a letter saying if I had give a payment at this certain date I would be good so I called and the guy told me my account had been send to another company that they no longer deal with my account so I called this company and there saying I have to pay them more than grand or they will see me in court and I said what about the payments I had given to my account they sh

I took a loan out with LoanMe and paid it totally off on 2/12/for They are still taking the monthly payment out of my account I have called LoanMe several times and they say a manager is supposed to call me They have never called me and their collections department keeps calling me and I told them that I paid the loan off

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.I am requesting that company "Loan Me" remove the negative remark from credit reportAgain, a "Charge off" is not validThere has not been a time when this company did not receive a payment for consecutive months (which would constitute a "CHARGE OFF"I am demanding that this company remove the "CHARGE OFF"
Regards,
*** ***

As previously stated, the customer has made uninformed, erroneous and defamatory statementsAll of LoanMe’s licenses are active and up to dateIf the Customer has any further questions, please have him contact LoanMe’s ***

I took out a loan through LoanMe after being told that they would report my timely payments to the three credit bureaus which would help my creditThis loan was specifically intended to boost my troubled creditAfter making several payments, I called and asked why it was not showing on my credit reportThey told me they only show if was late, or after I paid it off After over a year of never missing a payment, I paid it off early, in full Several months after payoff it was still not showing on my credit report, and thus not helping my credit as advertisedI call and reported this and they told me it was an error and would be reporting soon I waited another two months and it still wasn't I called and they said it was an error and it will be reporting soon Two months later and it's still not I paid them $3,in interest alone and, yet they still cannot report good payment history, as they promised This must be resolved

I have visited Loan Me Incwebsite and used their pre-qualifying application page to see how much of a loan I could receive from themThe pre-qulifying amount was not listed on the websiteAfter applying they called meThey verbally go over the pre-qualifying info over the phoneBut the trick is when they call you to give you the pre-qualifying amount they do a hard pull on your credit instead of the soft pull that they advertiseThey do not make you aware that you are doing a hard pullThey played me a recorded call to prove something, but in the call I clearly asked if it was a hard pull and stated that I did not want it if it wasThe rep said noSo I said ok go ahead thenthey were making it seem as though the only way to get the amount you qualify for is over the phoneWhen I noticed the hard inquiries on my credit I called to complainThey removed one of the inquiries but not the otherstating that they did not know I wanted them both removedThat is a lieI have t

LoanMe, Inc., (“LoanMe”) is in receipt of our customer’s above-referenced complaint, and we welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response LoanMe’s records indicate that our customer agreed to an unsecured
consumer installment loan on January 22, in the amount of $5,minus a $pre-paid finance charge/origination fee. Our customer was not pressured or coerced to take the loan in any way During the application process on January 21, 2016, the loan agent informed our customer of the interest rate on the loan, the loan’s Annual Percentage Rate (“APR”), the monthly payment amount of the loan, the origination fee, the number of payments required on the loan if paid as scheduled, and that the loan did not have a pre-payment penalty. In compliance with the Truth in Lending Act (“TILA”), LoanMe’s Promissory Note and Disclosure Statement (“Note”) properly displayed the loan terms and provided the required disclosures, including the interest rate, the APR, the Finance Charge, the Total of Payments, and the repayment schedule. In addition, the terms of the Note stated that interest is calculated on a 360/simple interest basis. The Note also indicated that the loan could be paid in part or full at any time without incurring a prepayment penalty. The Note our customer executed also stated that, “THIS LOAN CARRIES A VERY HIGH INTEREST RATEYOU MAY BE ABLE TO OBTAIN CREDIT UNDER MORE FAVORABLE TERMS ELSEWHERE. EVEN THOUGH THE TERM OF THE LOAN IS MONTHS, WE STRONGLY ENCOURAGE YOU TO PAY OFF THE LOAN AS SOON AS POSSIBLE. YOU HAVE THE RIGHT TO PAY OFF ALL OR ANY PORTION OF THE LOAN AT ANY TIME WITHOUT INCURRING ANY PENALTY. YOU WILL, HOWEVER BE REQUIRED TO PAY ANY AND ALL INTEREST THAT HAS ACCRUED FROM THE FUNDING DATE UNTIL THE PAYOFF DATE.” By signing the Note, our customer certified that she understood and agreed to be bound by its terms. Additionally, LoanMe conducted a “welcome call” after the loan was funded on January 22, 2016, at which time the terms of the loan were explained once again, and our customer indicated she did not have any questions or concerns. Our customer was also provided with a full amortization schedule as a part of her loan document process, which indicated the amount of each loan payment that would be allocated to principal and interest if loan payments were paid as scheduled. As with most loans, and consistent with the terms of the Note and the amortization schedule provided to our customer, payments made towards the beginning of a loan have a greater portion of the payment allocated toward interest and less towards principal. Over time, and as the loan is paid down, a larger portion is allocated to principal until the loan is paid in full. LoanMe encourages our customers to pay extra amounts toward principal to pay the loan off earlier than scheduled, and to reduce the overall expense of the loan compared to when making payments only as scheduled. Our customer states in her complaint LoanMe advised her that it would be “virtually impossible” for her to be able to pay off her loan. This simply is untrue. A review of our telephone records reflect that our customer had raised a question with LoanMe’s customer service representative whether her loan was “virtually impossible” to pay off, the customer service representative advised our customer that her loan could be paid off overtime if she kept the loan for the full term and made her scheduled payments. LoanMe is exempt from the usury provisions under the California ConstitutionThe terms of our customer’s unsecured consumer installment loan are legal, including the interest rate and APR, and the loan was made in accordance with LoanMe’s Finance Lender License issued by the State of California Department of Business Oversight (License #K061). We thank you for this opportunity to respond, and hope that we have helped to clarify the matter for our customer. If our customer has additional questions or concerns, she may contact LoanMe directly at ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Regards,
*** ***
I do not see in the contract where there is a daily rate increase on the loan how is this even fair. That should be against the law How can anyone ever repay them if the amount going up everyday.Just do not seem fair If I had seen that Me or anyone else who received a loan from them would not had done it If I had read all the reviews on this company I wouldn't have done it. Not a happy customer*** ***

I filled out a application with LoanMe two days ago The two agents I dealt with was very unprofessionalRaul De *** and Cynthia *** Raul switched me to Cynthia, dealing with me I called to speak to the supervisor Johnny I was told he was at lunch I called back in minutes and the representative said, Johnny whoI was getting the run aroundShe kept on saying, I can send you to Cynthia I said I would like to speak to Johnny I was switch to her voicemailI left a message an hour ago I will wait for his callOnline it stated I have a loan with them I called, Lee answered the phone and stated I was declined I am trying to get to the bottom of this I wonder why it saying I was approved and the representatives telling me I was declined

I am writing to dispute the "CHARGE OFF" on my credit reportsLOANME, INChas several allegations of dishonest business practicesI called them and they agreed to lower my interest rate and change my payments to $per monthThe CFRA defines a "CHARGE OFF" as an account that a business has written off because they feel the consumer will never payA "CHARGE OFF" is also considered when a consumer does not pay on his/her account in months or moreMy account was referred to court and set as a "CHARGE OFF" on my credit report almost immediately, my credit report shows that exact date this account was referred as a "CHARGE OFF", which is an unfair business practiceThis account is paid in fullThe California Department of Business Oversight (CA DBO) has taken regulatory actions against this company for various business infractionsI am requesting that this account be removed from all credit reports because the information reported is incorrectI spoke with a lady by the

Received calls in hours and they never leave a voicemail!!!

Horrible company STAY AWAY don't fall for the trap A $2,loan cost me $10,in repayment fees I had a debt consolidation with my credit union we called loan me to verify amount, showed up at their offices with a cashiers check that was refused because the words "pay off" were in the notation field Somehow magically in a minute drive to drop the check off my balance had gone up $more dollars This company needs to be stopped

Revdex.com:I have reviewed the response made by the business in reference to complaint ID***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.Regards,*** ***

I received a personal loan from an Online lender in December of Down loaded loan specifics and it stated that I had purchased Future Investment Payments and was obligated to repay my $loan in payments at the amount of $IRS charged me with failure to report the $ loan as incomeThe loan note from LoanMe Incstates my annual percent rate of 139.113%Finance charges of $11,for an amount financed of $2,
I also received via the IRS response a letter dated June 6, from FAW *** claiming the sale of FIP My loan application was a minor emergency as I was leaving the country and contact with lender was primarily on the phone after my online applicationFAW *** shows Transaction Details and the seller is ME? It indicates a Pension Company as Department of Veterans Affairs for payments to FIP $monthly payments for monthsI began payments Jan 2, and have made payments for over two years

I applied for a loan with loanme and was informed that my credit union is not found in their database so they cannot issue a loanThis makes no sense as I have all proper documentation for verification