LoanMe Inc

According to our records, Ms. [redacted] contacted LoanMe, Inc. (“LoanMe”) on November 26, 2014 and advised a LoanMe loan agent that she was interested in obtaining a loan.  After reviewing the various loan products available to her, Ms. [redacted] gave her permission for LoanMe to run her...

credit.  Per applicable laws and regulations, a credit inquiry is generated when a consumer gives a creditor express consent to run his or her credit, which is the case here. 
 
Please be advised that on December 2, 2014, LoanMe notified the credit bureaus to remove LoanMe’s credit inquiry from Ms. [redacted]’s credit file. Please allow the credit bureaus 30 – 45 days to update their records. 
 
LoanMe thanks you for the opportunity to respond. If Ms. [redacted] has any questions or additional concerns, she may contact a LoanMe Customer Concerns representative at ###-###-#### for assistance.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], 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 not satisfied with the provided response by Loan Me Inc. because they have not addressed the issue of falsely reporting late payments to ALL three credit bureaus; not just Experian.  I repeat, I was never delinquent with payments.  I simply solicited the service of another company to handle the remaining balance owed because of loan Me Inc predatory lending practices.  While I do not agree with their interest payments only terms, I accepted and continue to accept my responsibility to ensure that the balance is paid that was borrowed.  When I turned the loan over to Settle Your Debt company, I was NOT delinquent.  Again Loan Me deducted monthly payments from my Wells Fargo Checking account consistently from receipt of loan through Oct, 2016.  Settle My Debt took over loan and continue to make payments from November, 2016 through the present date of 6/2017, with one late payment of not even 30 days.  When missed payment was noticed.  Third party company worked diligently and negotiated with Loan Me and made good on their promise to pay the January payment that Loan Me refers too. Most importantly, my credit report is suffering due to one late payment that I did not default on.  Money is collected out of my checking account each month to ensure payments to Loan Me Inc and they should at least take this into consideration.  Instead, they being greedy and determined to collect interest in the same amount of the loan of 3100.00.  Someone legal need to check their books.  This should be a crime.  And yet I am paying them off.Please see ledger of payments made by Loan Me/Global Solution that shows consistent payment dates, since October of 2016.  Again Loan Me are not truthful in their lending and credit reporting practices.  Their response states that they only report to one Agency, but they have reported to all three agencies in this matter.  And they are falsely reporting that I am severely late, when in fact their is only one late payment that they can verify, which is the one that has been paid for 1/2017.I am very angry that I have kept my obligation to make payments totaling more than the amount of the loan of 3100.  And they are requesting a balance of 2300.00.  Loan Me has also reported multiple different balance amounts on my credit reports; first $1400, 1600. now 2300.  So which is it, and what is the calculation based on.  Now think about this, I borrowed $3100. minus $71.00 in October of 2015 and two years later I still owe them $2300. after making $351. payments times over 24 months which equals an amount of $8,424.00.  Debt should be paid in full, including interest.  I plan to see legal representation in this matter, if Loan Me Inc cannot not report my payment history truthfully and correctly.They are inconsistent, and they have poor customer service.  Loan Me should be put out of business for robbing the less fortunate and those in need of short-term loan solutions. 
Regards,
[redacted]

The customer is raising points that were already addressed in our initial response, so we welcome the opportunity to help further clarify the matter. Please allow this to serve as our follow-up response.   Our records indicate that after making only two payments, the customer requested to settle on the loan. The customer then entered into a settlement agreement that required scheduled payments to be made on or before the scheduled due dates. Per the settlement, it was agreed that payments would be reduced from $351.09 to $195.00. If the conditions of the settlement were not fulfilled, then the settlement would be cancelled and the terms of the original loan agreement would be enforced. A payment was not received in August, so the settlement agreement was cancelled. For clarification, any payments of $195.00 towards the settlement agreement lacked sufficient funds to satisfy the $351.09 obligation of the original loan agreement. On August 31, 2016, the account was charged-off for being more than 120 days past due, and LoanMe then soon filed a lawsuit against the customer to remedy the delinquent account. Until the customer made a payment to settle on the loan, the account was delinquent from May until December. During a conversation on December 16, 2016, the customer agreed to settle on the loan because she had a job interview and could not appear in court. The customer agreed to make a lump sum payment of $2,321.95 to settle on the loan. The loan was not paid in full because the amount paid was less than the amount due under the original loan agreement. By settling, LoanMe agreed to receive payment that is substantially less then what is contractually obligated by the debtor. LoanMe is in the process of reporting the account as “Settled in Full,” and the customer should expect the credit reporting agency to reflect this updated information in the next 30-60 days.   Upon a complete review of the complaint and our records of the matter, we found that LoanMe has been forthright in our business practices. If our customer has new facts or additional information that was not considered in our response, she may contact LoanMe directly at [redacted] In closing, we would like to thank you for this opportunity to respond, and hope that we have helped to clarify the matter regarding the statements made in our customer’s complaint. Tell us why here...

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.Loanme claims that they are not able to confirm that any inquiry from their company was ever placed. I can confirm that an inquiry was placed with a simple copy of my credit report. Therefore, Loanme's inability to disclose is either willful or negligent noncompliance with federal law as a reasonable company would keep records of their actions with the credit bureaus. My desired outcome remains the same. Although Loanme did say they would remove any credit inquiry from my credit report, they did not address 15 USC 1681g(e). More specifically, Loanme shall "provide a copy of application and business transaction records in the control of the business entity, whether maintained by the business entity or by another person on behalf of the business entity, evidencing any transaction alleged to be a result of identity theft. I do not like having to repeat myself. 
Regards,
[redacted]

LoanMe, Inc., (“LoanMe”) is in receipt of the consumer’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.   Our records indicate that the customer entered into an unsecured...

consumer installment loan on December 23, 2016 in the amount of $3,100.00, minus a $75.00 origination fee.    During a conversation on January 19, 2017 the customer had submitted an ACH payment, and was informed that the payment would take a few days to process. Unfortunately, LoanMe did not receive the funds from the pending ACH until much later on January 31, 2017, and not before the customer’s regularly scheduled ACH was created. The customer then contacted LoanMe the following day to request a refund because a pending transaction appeared on his bank statement.   LoanMe worked with the customer to resolve the issue, and requested a copy of the bank statement as a part of the refund process. LoanMe began processing the refund as requested, assuring that the funds would be returned that day or the next. However, that same day the customer requested to cancel the refund because he contacted his bank to stop the transaction.   Upon receipt of this complaint LoanMe has stopped the automatic draft as requested, but the customer may still utilize one of our various other payment options going forward.   In closing, we would like to thank you for this opportunity to respond, and hope that we have helped to clarify the matter regarding the statements made in our customer’s complaint. If our customer has additional questions or concerns, he may contact LoanMe directly at 844-764-7368. Tell us why here...

According to our records, the Customer submitted an online application with LoanMe, Inc. (“LoanMe”) early on December 25, 2014. After the application was submitted, a loan agent contacted the Customer to confirm her application and to go over the terms of the loan. However, the Customer requested...

that the loan agent call her back the next day due to the holiday. The loan agent’s attempts to contact the Customer over the next three weeks were unsuccessful.
 
On January 19, 2015, LoanMe made contact with the Customer and the Customer requested to cancel the loan application. LoanMe cancelled the Customer’s loan application and noted the reason for cancellation as “cancelled by the applicant”. 
 
The Customer may contact LoanMe at ###-###-#### if she has any additional questions.

LoanMe, Inc., (“LoanMe”) is in receipt of the consumer’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 obtained an unsecured consumer...

installment loan on April 24, 2015 which included the amount of $5,400.00 minus a $275.00 pre-paid finance charge/origination fee.  During the application for the loan, a LoanMe loan agent reviewed the terms of the loan with our customer, including the interest rate of the loan, the Annual Percentage Rate (“APR”), the monthly payment amount, the origination fee, the due date, late charge, and the number of payments required on the loan if paid as scheduled.Our records show that LoanMe received a call from our customer on March 30, 2016 to obtain her payoff amount and we advised her of the payoff amount at the time.  Our customer inquired why her balance reflected a different amount than what the current payoff was, and LoanMe advised that, this was because the current payoff reflected the interest that accrued from March 1, 2016 to March 30, 2016.  The LoanMe representative mistakenly advised our customer that due to the regular payment she made, her total payoff would be less than the quoted payoff amount once the payment fully posted. LoanMe advised the customer that she could make the payment; however, LoanMe would not be able to confirm whether that would pay the loan off completely because the pending payment was not fully posted.  Our agent’s statement to our customer was incorrect because the pending payment had already been accounted for in the reflected payoff balance quoted to our customer. Our customer proceeded to schedule a payment for the payoff amount less the pending payment, which did not pay off the loan in full. Due to the misinformation provided by LoanMe’s representative, we have taken steps to remedy the error and want to sincerely apologize for any confusion this may have caused our customer. We are treating the issue as a training opportunity for the agent who handled the call, and the item has been forwarded to the management of the agent’s department. Additionally, to honor what our agent advised our customer, we have accepted the payments our customer made toward her loan as the full payoff. The status of our customer’s account has been changed to “paid in full”, and she will receiving documents that reflect that status shortly.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 [redacted].

Tell us why here... LoanMe, Inc. (“LoanMe”) is in receipt of the consumer’s reply.  Contrary to the consumer’s allegations, LoanMe does not engage in discriminatory lending.  Furthermore, the consumer has raised issues that we have already addressed, and have nothing further to add.  If the consumer has new facts that were not already considered in our first response, we will be happy to review them at that time.

LoanMe, Inc. (“LoanMe”) is in receipt of the consumer’s above-referenced complaint, and we welcome this opportunity to respond to help clarify the matter.  Please allow this to serve as our formal response. The consumer stated in his complaint that he received a letter from LoanMe which...

indicated he was pre-approved for a loan from $2,600.00 to $10,600, but that the offer was subject to the verification of his qualifications. Our records reflect that the consumer was pre-screened in November of 2015 and received a pre-approval letter shortly thereafter.  During the application process, a LoanMe representative obtained approval from the consumer (applicant) to run his credit report. On January 11, 2016, a LoanMe representative contacted the applicant to advise him that his loan application was declined because he was no longer qualified under LoanMe’s underwriting criteria based on his current credit history information. As stated in our pre-approval letters, including the one sent to this applicant, the Terms and Conditions clearly state that “credit may not be extended if after you respond to this offer, you no longer meet the selection criteria”.  In this instance, from the time the applicant was pre-screened in November to the time he applied on January 8, 2016, his credit had changed, such that he no longer met the criteria required to qualify for a loan. Although the applicant references the fact that he met the minimum income requirements, as explained to him during numerous phone conversations other factors are considered such as obtaining a current credit report and/or an applicant’s financial standing. Because the applicant was no longer qualified, LoanMe was not able or required to approve the loan. The consumer states in his complaint that LoanMe engaged in false adverting.  The claim is simply untrue.  While it is LoanMe’s intent to extend offers of its loan products to qualified applicants, receipt of a pre-approval letter does not guarantee that a loan will be offered if the applicant’s information changes. This was clearly and truthfully stated in the letter the consumer received.  A “pre-approval” is not a final approval of the loan.  Rather, it is a preliminary evaluation of potential applicants, and a stage in the application process prior to final approval. LoanMe apologizes if the consumer did not find our representatives helpful.  We pride ourselves on providing superior service, and we will take steps needed to ensure that applicants receive the service they and we expect. While the consumer stated in his complaint that a fair resolution would be for LoanMe to process the loan, we are not in a position or under any obligation to extend a loan to an applicant that does not qualify.  While LoanMe cannot extend a loan to the consumer, as a courtesy we removed the hard inquiry from his credit report on January 21, 2016. In closing, we would like to thank you for this opportunity to respond and hope that we have helped to clarify the matter for the consumer.  Should he have further questions or concerns, he may contact LoanMe directly at [redacted].

LoanMe, Inc. (“LoanMe”) has reviewed the above referenced
complaint filed on March 2, 2018, as well as our records and telephone
conversations (all of which are recorded). 
We take all complaints seriously and welcome this opportunity to respond
to help clarify and resolve the...

matter. 
Please allow this to serve as our formal response.
 
Initially,
please note that LoanMe is a California Finance Lender that offers unsecured installment
loans to qualified consumers, as well as unsecured commercial installment loans
to qualified businesses. LoanMe is licensed by the State of California DBO
Financing Law, License #603K061, thus regulated by California Financial Code
Sections [22000 – 22347].  Pursuant to
California Financial Code Sections 22002, 22250 and 22251, a California Finance
Lender licensee is exempt from interest rate limitations for unsecured loans
with a principal loan amount of $2,500 or more.
Our records indicate that our
customer entered into an unsecured small business loan (“SBL”) with LoanMe
on June 15, 2015, with a principal loan amount of $70,000.00. The terms of the
loan were clearly disclosed on the customer’s Small Business Loan Promissory
Note and Disclosure Statement. Since the customer’s SBL principal loan amount
is more than $2,500 ($70,000) and the loan is unsecured, California Financial
Code Section exemptions for California Finance Lender licensees permit the
interest rate to be the interest rate agreed to by the parties.
 
A review of our customer’s payment transaction history
reflects that the customer had defaulted on numerous payments, and became more
than 120 days past due.  As a result, the
loan was charged-off on January 02, 2018. 
LoanMe records support that phone calls between LoanMe and our customer
(all of which are recorded) were at all times conducted in a professional manner
in an attempt to help resolve our customer’s delinquent account.
 
In an effort to assist our customer, a LoanMe representative
explained that LoanMe offers several financial assistance programs based on a
customer’s demonstrated hardship.  While under
no obligation to do so, LoanMe approved our customer for a loan modification on
March 31, 2017.  Per the loan
modification agreement, the monthly payment amount and interest rate were substantially
reduced.
 
A LoanMe representative also explained to the customer that the
settlement arrangement required that scheduled payments be made on or before
the due dates, and if paid as scheduled, LoanMe would forgive the unpaid
portion of the loan.  Our representative
further explained that if the conditions of the settlement arrangement were not
fulfilled, then the settlement arrangement would be cancelled and the terms of
the original loan agreement would be enforced. 
 
Our customer entered into two separate settlement
arrangements during the life of the loan, but both arrangements were unfortunately
cancelled because of the customer’s nonpayment.
 
In closing, we would like to thank you for this opportunity
to respond, and hope that we have helped to clarify the matter for our customer.
Should our customer have additional questions or concerns, they may contact
LoanMe directly at 844-764-7368.

LoanMe,
Inc. (“LoanMe”) is in receipt of the above reference complaint and we welcome
this opportunity to respond to help clarify and resolve the matter.  Please allow this to serve as our formal
response.
 
Our records indicate that our
customer obtained an unsecured...

consumer installment loan October 9, 2015, which
included the funded amount of $3,100 minus a $75.00 origination fee. Our
customer made multiple payments toward her loan, but then fell delinquent for
the payment due on October 1, 2016.
 
On or about October 21, 2016, we
received authorization for LoanMe to discuss the customer’s loan with a company
called Settle Our Debt. LoanMe made contact with Settle Our Debt.  At this point our customer was seriously
delinquent, and past due for both her October and November 2016 payments.  As a result of the delinquent status of the
loan, and based on our customer’s financial hardship situation, LoanMe made a special arrangement agreeing to
receive an amount that is substantially less then what is contractually
obligated by the customer. This was done to assist our customer, even though
LoanMe was under no obligation to offer the settlement.
 
Under the special arrangement our
customer needed to make 12 consecutive payments of $160.29. This would have
significantly reduced the $351.09 monthly payments due under her contract, as
well as the number of months payments would have needed to be paid toward the
loan. If the conditions of the settlement were not fulfilled, then the
settlement would be cancelled and the terms of the original loan agreement
would be enforced. A payment was not received in January 2017, and as a result,
the settlement agreement was considered cancelled and void.  At that point multiple payments under the
terms of our customer’s contract were past due, and as a result the account was
charged off on March 31, 2017.
 
Again while under no obligation to
do so, in an additional attempt to assist our customer, LoanMe then agreed to reinstate
the settlement arrangement. This requires that the scheduled (reduced)
settlement payments be made on or before the dates required. Per the settlement
arrangement, if paid as required, LoanMe will report the account as “Settled”
to the credit reporting agency and forgive the remaining amount of the debt,
but only once the conditions of the settlement arrangements are fulfilled
completely.
 
LoanMe reports to the credit
reporting agency (Experian) on a rolling 30-day period, and as a result, the
customer’s account would be viewable on an Experian credit report. LoanMe does
not report to other credit reporting agencies. 
It is the policy of LoanMe to ensure that all information provided to
the credit-reporting agency is accurate and free of errors, and LoanMe has been
reporting the customer’s account accurately based on the status of the loan
contact. It is also the policy of LoanMe to promptly respond to any inquiries regarding
the accuracy of credit reporting promptly and in accordance with the Fair
Credit Reporting Act (“FCRA”).

LoanMe, Inc. (“LoanMe”) has investigated the Customer’s complaint and has found that it acted properly at all times. After carefully reviewing the account, we have confirmed that the Customer was not pressured to take a larger loan than he wanted. The Customer entered into an unsecured consumer...

installment loan with LoanMe on August 14, 2015, in the amount of $10,600.00. This amount includes the loan amount of $10,100 net the Prepaid Finance Charge/Origination Fee of $500.00. The Note clearly notes at the top in the TILA disclosures an Annual Percentage Rate of 99.75% and a Total Finance Charge of $71,148.45. These disclosures were made in accordance with the requirements of the Truth in Lending Act. It 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 the loan agreement with LoanMe, the Customer was directed to read the Note in its entirety. After the Customer had reviewed the Note he electronically signed or initialed the Note in multiple locations. The fourth of the signatures represents and confirms that the Customer had read and understood the terms and conditions of the Note.  As part of our business practice LoanMe records when and where the borrower signs the Note. According to our records, the Customer signed the Note on August 14, 2015, via electronic signature. This Note, in its original format, is an electronic document fully compliant with the Electronic Signatures in Global and National Commerce Act (E-SIGN) and other applicable laws and regulations.  LoanMe also emailed a copy of the Note on August 14, 2015, to the Customer at the email address provided by him. In addition, after funding, LoanMe called the Customer on August 15, 2015, where a representative went over the terms of the loan with him, including the interest and repayment schedule. The Customer did not raise any concerns about the terms or repayment of the loan at that time. Please be advised, on August 15, 2015, the Customer contacted LoanMe and made a payment of $6,000.00. By making this payment the customer reduced his loan term from 86 months to 10 months. Contrary to the customer’s allegations, he has 7 payments remaining which include 6 payments of $840.56 and a final payment of $662.32.  Our records indicate that the Customer’s account is current and the payoff amount as of September 8, 2015 is $4,360.76. If the Customer has any other questions he may contact LoanMe directly at [redacted].

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
[I did not termi ate the call when they called me, i've already paid $495.... for 6 months, and now paid them 5400.00 to them but thete saying I still owe them more money which is now all interest I feel this is the worst deal I have every got the interest rate is unbelievable .  I do not have anymore money to pay them.  Please have them waive the remainder balance they say I owe.
Regards,
[redacted]

LoanMe, Inc. (“LoanMe”) is in receipt of the consumer’s follow-up complaint, and we welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response. The customer is raising points that were already addressed by LoanMe in our initial response.  If the customer has new facts or additional information that was not considered in our initial response, LoanMe would be happy to review such information. We thank you for this opportunity to respond and if our customer has questions or would like to submit additional information, she may contact LoanMe directly at [redacted].

LoanMe, Inc. (“LoanMe”) has investigated the Customer’s complaint and has found that it acted properly at all times. The Customer entered into a consumer installment loan with LoanMe on October 8, 2014, in the amount of $3,100.00. This amount includes the loan amount of $3,025.00 net the Prepaid...

Finance Charge/Origination Fee of $75.00. The Note, clearly notes at the top in the TILA disclosures an Annual Percentage Rate of 138.44% and a Total Finance Charge of $13,755.23. These disclosures were made in accordance with the requirements of the Truth in Lending Act (TILA). It 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 the loan agreement with LoanMe, the Customer was directed to read the Note in its entirety. After the Customer had reviewed the Note she electronically signed or initialed the Note in multiple locations. The fourth of the signatures represents and confirms that the Customer had read and understood the terms and conditions of the Note.
 
As part of our business practice LoanMe records when and where the borrower signs the Note. According to our records, the Customer signed the Note on October 8, 2014, via electronic signature. This Note, in its original format, is an electronic document fully compliant with the Electronic Signatures in Global and National Commerce Act (E-SIGN) and other applicable laws and regulations.
 
LoanMe also emailed a copy of the Note on October 8, 2014, to the Customer at the email address provided by her. In addition, after funding, LoanMe called the Customer on October 9, 2014, where a representative went over the terms of the loan with her, including the interest and repayment schedule. The Customer did not raise any concerns about the terms or repayment of the loan at that time.
 
The Customer’s loan with LoanMe is legal, valid, and owing. Our records indicate that the Customer is current on her loan and the payoff as of today’s date is $3,446.15. The Customer may contact LoanMe directly at ###-###-#### to discuss payment arrangements.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
I was assured by [redacted] from Loan Me that my payments would be reported to all three credit bureaus, not only [redacted], which is why I took out the loan. I would like for my payment to be reported to the other two credit bureaus, as promised, or I would like a refund of the interest I paid on my loan.  
Regards,
[redacted]

LoanMe, Inc. (“LoanMe”) is in receipt of our customer’s follow-up complaint, and we welcome this opportunity to respond to help clarify and resolve the matter. Please allow this to serve as our formal response. Our customer is raising points that were previously addressed by LoanMe in our initial response.  If our customer has new facts or additional information that was not considered in our initial response, LoanMe would be happy to review such information. Our customer’s first payment was due on July 1, 2015, and on the first of every month thereafter per the Note (contract) our customer signed.  LoanMe offered and our customer elected to change the date of when the payments would be ACH drafted out of her account date from the 1st to the 15th of each month. Drafting the payment on the 15th of the month did not change any provision of the Note she signed when obtaining her loan, including the payment due dates of the loan. We offered our sincere apology with our last response, and we would again like to extend our apology for any misunderstanding or dissatisfaction our customer may have experienced during the handling of her LoanMe loan. At this point we consider the matter to have been resolved, and have taken steps as outlined in our previous response. We thank you for this opportunity to respond and if our customer has questions or would like to submit additional information, she may contact LoanMe directly at [redacted].

LoanMe, Inc., (“LoanMe”) is in receipt of the consumer’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 entered into an unsecured...

consumer installment loan on November 30, 2015, which was subsequently funded on December 1, 2015, in the amount of $2,600.00 minus a $275.00 pre-paid finance charge/origination fee. 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 Annual Percentage Rate (“APR”), the Finance Charge, the pre-paid finance charge/origination fee amount, the payment amounts and due dates, and the repayment schedule of 47 months.  In addition, the terms of the Note stated that interest is calculated on a 360/360 simple interest basis, and the Note indicated that the loan can be paid in part or full at any time without incurring a prepayment penalty.  The loan agent encouraged our customer to read the Note in its entirety before signing. Our customer then signed the document electronically in compliance with the Electronic Signatures in Global and National commerce Act (E-SIGN), indicating that she read and agreed to the terms and condition of the Note. The terms were again communicated to our customer during the welcome call on December 1, 2015 after the loan was funded.  During the conversation, our customer requested to make an ACH payment of $1,000.00, all of which was posted to the principal, lowering her principal balance to $1,600.00.  Therefore, her January 1, 2016 payment was reduced from the original interest only payment of $387.83 to an interest only payment of $238.67. Please note that our customer’s first payment was an interest only “stub” payment, which paid only the interest due from the fund date of the loan to the first amortized principal and interest payment.  The lowering of our customer’s January 1, 2016 interest only stub payment was due to the interest for the payment being calculated off the principal  balance $1,600.00 instead of the original loan amount of $2,600.00.  Our customer’s first payment on January 1, 2016 was applied towards the interest due for the correct number of days, and the payment was applied properly. Our customer incorrectly states that interest calculated for her first payment should be for 45 days, from December 1, 2015 (the date the loan was funded) to January 15, 2016 (the date of her ACH payment).  On December 1, 2015, our customer requested that the draft date be scheduled for the 15th rather than the 1st of the month, and a LoanMe representative honored our customer’s request and changed the scheduled draft date for her as a convenience.  The representative also informed our customer that her payments would still be due on the first of every month; however, the funds would not be withdrawn from her account until the 15th of the month.  Therefore the initial interest only payment was for a 30 day period, from the fund date to the first payment due date. 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 [redacted].

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
It was never not once told to me with the representative when I was signing up for the loan about what my interest rate would be each day. Even with me paying extra on my loan each month, it still wouldn't adjust the principal to interest ratio. I have had problems with trying to have the extra amount that I've been laying to be moved over to the principal amount. I had to call each other day to have this issue resolved which took weeks. I spoke with the supervisor who was then telling me that he wouldn't talk to me because I was concerned about the interest to principal ratio. It was then when I demanded to know what my interest rate was each day. The interest each day would be $8.50. With me even paying extra towards my regular monthly payment it would only go to the interest and just a small portion will go towards the principal. I am trying to pay off this loan as fast as possible because if not, I will be laying more for the loan then what I initially took out. I never was told over the phone that my interest rate would be 135% each day. If I was told this from the beginning then I would have never agreed to it. The way that they advertise their services on the radio are not true to their actual call once you call in. I am now in bigger debt by borrowing this loan then I was before. This was a big regret that I would never make again. Never again will I borrow money from loan me because of the high interest rates and the low balance that is applied to loan me. 
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.Because I paid Loanme on June 1, 2017 posted in my account ending 3269 on June 2, 2017 in the amount of $257.95 (see attached checking statement), part of my hardship agreement I made with them on May 20017 which Loanme mentioned in the original complaint.  That's why I rejected their response because they ruin my credit for flaging that I'm late in june 20017.  Also, until now the inquiry they made according to Loanme pulling it by mistake still in my credit report. They did not made an action when they pulled my report for no reason, I found out because I received an alert from Exeperian and notified Loanme about it  the same day on July 12th. Their customer service did not even know about it and brought my complain to their Concern Dept, and Vanessa called me back the next day, July 13th.  Everything is "BS" after I paid then pull payment of $5,400 they ruin my credit.  I called [redacted] yesterday, 7/26 they did not receive any letter from Loanme requesting to remove the inquiry.  This is not acceptable, Loanme should send me a copy of the letter stating they made a mistake and to remove the inquiry right away and they need to change that June paid on time.  This problem happened when I paid them I do not know why they ruin everything after I paid off m loan, is it because they will not get the interest anymore.  I paid off my loan because I cannot afford to pay their very high interest anymore. I paying my loan for one year and I still owed $5,400 the original amount I barrowed on June 2016.  I know I learned my lesson not barrowing money from a loan shark company.  Loanme should fix their mistake right away, I demand from them to remove the inquiry and send me a copy of the letter they talking about and change the June to paid on time.
Regards,
[redacted]