LoanMe Inc

LoanMe, Inc(“LoanMe”) is in receipt of the consumer’s follcomplaint, and we welcome this opportunity to respond to help clarify and resolve the matterPlease allow this to serve as our formal responseThe consumer is raising a point that was already addressed by LoanMe in our initial response. If the consumer has new facts or additional information that was not considered in our initial response, LoanMe would be happy to review such informationWe thank you for this opportunity to respond and if the consumer has questions or would like to submit additional information, he may contact LoanMe directly at ***

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

In our previous response to the Customer’s complaint, we informed the Customer that all calls to her were ceased as of January 7, Also, we explained the reason for our previous calls and explained that all calls were as professional as possibleIf the Customer would like to discuss this matter further, please have her call LoanMe’s Complaint Department at 844-764-73***

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
They stated "Because the payment was due on March 1st per the Note, and already extended to the 15" My response: The 1st lie..my loan was financed/deposited into my account on May 22, at which time I requested the due date of the 15th for every month, the rep told me that my payment would come out on the 15th of every month and if the 15th fall on a holiday/weekend etcit would come out on the next business daySo they have NOT extended anything to me! that's how my account was set up for the 15th of every month (PLEASE SEE MONTHLY PAYMENT REMINDER EMAILS SENT TO ME FROM LOANME AND BANK WITHDRAWLS IN ATTACHMENTS). IF NEEDED I WILL PROVIDE ACTUAL BANK STATEMENT PRINTOUTS and FORWARD EMAILS proof that my payments never was scheduled for the 1st of each month.They stated "At the end of that conversation, our customer advised that she did not wish to change her payment draft date after all"My response: After being interrogated as to why I wanted to change the dated to the 25th after I told her over and over again because my husband was laid off I grew tired of the back and forth I told her to forget it keep it as it wasI also explained that I'm not trying to back out nor skip a payment just wanted a little extra time I became exhausted with the drill sergeant and strong arm tactics! I gave up! which is a shame because I never missed a payment nor was I ever late on a payment. This was my first time ever calling to speak with them since May 2015.They stated "This resulted in the follow up call on March 14th, and we apologize for any confusion it may have caused." Incidentally, during a subsequent call, our customer elected to have her draft date for the March payment changed to the 25th of the month. and has waived the $late fee that was charged.My response: The 2nd lie..I received a email from LoanMe on March 14, 10:47am (see attachment)that's when I called LoanMe asking what was going on..They never called me I called them! how would I have known that the representative changed my account to a promise to pay without my consent or knowledge after I told her on the 10th of March to leave it as it is.(refer back to their response). I was never called and was not told it was a mistake that she made and I was NEVER GIVEN an APOLOGY and I repeat I was never called, never told she did it by mistake nor was I EVER given an APOLOGY. She done that after I hung up in her face because I made it perfectly clear to everyone that I was contacting the Revdex.com....and yes at that point I did ask for the same thing I tried to ask for on March 10th when I originally called for my date to be changed to the 25th...only when I mentioned that I would be filing a complaint with the Revdex.com that's when they wanted to accommodate me period..not any other time.....PERIOD
Regards,
*** ***

I just spoke with the California Department of Business Oversight and the LoanMe people are within their rights according to this:
"Finance lenders and brokers, by number of licensees and dollars of loans originated, is the largest group of financial service providers regulated by the DepartmentA finance lender is defined in the law as "any person who is engaged in the business of making consumer loans or making commercial loans." A finance lenders license provides the licensee with an exemption from the usury provision of the California Constitution." Below is a link to the website
http://www.dbo.ca.gov/Licensees/Finance_Lenders/About.asp
This explains a lot They don't call me any longer to collect, and I don't allow them to just take the money from my bank They hope I'll default I mentioned to one of their agents about "usry laws" this caused a level of defensiveness that rivals the Repubs and ObamacareThis also sparked them sending me multiple email, and blowing up my phone trying to reach me The following month when I confronted them about NOT calling me to collect, she told me their "system said my phone was disconnected" citing times of contact as 9:and 9: Yeah right! I just pay online now and follow up with a phone call to be sure they got the money They don't provide a receipt and I note it on my bank statement
If you can get a personal loan to pay these people back ASAP While what they're doing isn't illegal it should be

I sent in the businesses monthly payment and filled out their form to direct debit from the business accountI received a call in July stating that I needed to contact themI did and received a very rude person on the phoneI told them what I did and who I wanted to talk toThey said they made a note and I would receive a call back if there were problemsI never received a call back or anything from that point forward from Loan MeWhen checking my credit report it says the loan was charged offThey did not bother to let me, or the business that took out the debt know there was any payment issuesI have talked with the business owner and they were never contacted by Loan Me eitherThe payments were taken from my account via ACH or sent in via check until July However my credit report shows that after paying for over a year we still owed $of the $loanThis is also inaccurate based on the loan documentation we received when the loan was taken out

my fault for using this company but I was in a bind $10K personal loan was quickly approved which I suspect is typical They were up front about the high interest rate and the total cost of the loan What they were absolutely not up front about nor did they even mention is that the interest payments are more front end loaded than a mortgage After months of payments at $per, my principal had reduced a whopping $ With on-going accumulated interest, my final payoff was still over $10,

LoanMe collections dept call every mins form different numbers, calls are made to both my cell phone and WORK! They call as late as 9PM at timeTheir excessive phone calls are harassment!

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

A $3,personal loan from LoanMe Inc (opened 3/2015) is showing up on my *** credit report which I have no knowledge ofI tried disputing this errant account multiple times through *** directly, but it always comes back as "Verified" by LoanMe Inc

Tell us why hereLoanMe, 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 October 20, 2015, which included the funded amount of $2,minus a $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, and the repayment schedule of months. In addition, the terms of the Note stated that interest is calculated on a 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. Our customer 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.It is important to note that LoanMe originated and owns this loan, and hence would not be considered a “debt collector” for it under the Fair Debt Collection Practices Act (“FDCPA”). Nonetheless, calls LoanMe places to delinquent customers adhere to the FDCPA, and are never intended to be anything other than a professional effort to collect a debt. Telephone contact attempts to our customer were made only between the hours of a.mand p.mlocal time, without exception, in accordance with the FDCPA. While LoanMe has attempted to contact our customer to secure a payment arrangement, many of those calls went unansweredOur objective was to have a meaningful conversation to assist our customer in bringing her loan currentWhen our customer expressed dissatisfaction about receiving calls at work, we discontinued calls to her work telephone numberA review of our records also show that telephone attempts were made to our customer’s references, which she provided as part of her application for credit. Those telephone attempts were professional attempts to locate our customer and secure payment arrangements in an effort to bring her loan current. It is LoanMe’s policy not to disclose any business relationship or the nature of the call to our customer’s references. In fact, our records reflect that LoanMe was not able to make contact with her referencesOn December 18, 2015, our customer contacted LoanMe via e-mail requesting us to stop contacting her mother, we have since ceased all attempts to contact her mother. Upon receipt of our customer’s complaint, we have ceased our efforts to contact her via the telephone and will only attempt to contact her via email or the United States Postal Service.As of the date of this response our customer has not made any payments at all toward her loanLoanMe has offered our customer multiple settlement offers to assist her in curing her loan and each offer went unanswered. As of March 1, 2016, our customer’s loan has been charged off, and LoanMe intends take legal action in order to recover the amount owed on the loanThe unsecured consumer installment loan LoanMe provided to our customer was made in accordance with LoanMe’s Finance Lender License issued by the State of California Department of Business Oversight (license number 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 ***

I had a loan in the amount of $with this company for merely weeks and I was surprised to find out that the final balance I had as of today was more than $5800! I feel like I got ripped offThe company's advertisement regarding their interest rate is not true at allAnd their customer service is the one of the worst I've ever had in my entire life! With beeping sound in the background and they asked me same questions several timesToday, I called the customer service to update my bank information on file and had to give my new bank information not once but five times to be updated which is completely ridiculous! One thing is certain: I am pretty sure that I am not ever dealing with them for the rest of my life

I took out an online loan in the amount of $ on 12/4/I have since paid a total of $1980.93-with monthly payments of $(and still due)When speaking to the rep on the phone I was advised the interest rate was 110%In later review of the loan docs I am finding that is an annual percentage and the total amount paid back ends up to be $42132.85, this is obviously not what I thought I was in forWould this not be considered usurous especially in the state of CAI cannot pay $42k and not sure how to proceed

I had a balance with loan me im trying to buy a house and go into escrow
I was told by a representative of loan me that I would receive an email from loan me saying that I was paid in full
Its been days and now im loosing the house I cant open escrow
They have lied now I have a representative on the line lying to mu further I have recorded conversation from days ago and loan me also has recording now my whole housing situation is turned upside down

LoanMe, Inc(“LoanMe”) has reviewed the above referenced
complaint filed on March 3, 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
Our
records indicate that our customer obtained an unsecured consumer installment
loan on October 10, 2017, with a principal loan amount of $2,minus a
$origination fee.
Our
records reflect that as of February 1, 2018, our customer’s account was delinquent
for monthly paymentsLoanMe reissued a draft to the customer’s bank for one
full monthly payment of $388.40, which cleared and posted to the customer’s account
LoanMe received a call from our customer on February 08, to obtain his
payoff amount, and we advised him of the payoff amount at the time Because at that time the February payment was
still owed and in a pending status, the payoff amount the LoanMe representative
provided to our customer at that time did not include the payment due in
February as reflected in the payoff balance that was providedThis was due to
a timing issue regarding the pending payment, with our payoff calculation
system Our customer proceeded to
schedule a payment for the payoff amount he was advised, which as a result did
not pay off the loan in full
Our
records show that we received a call from our customer on February 27, 2018,
after receiving a payment reminder for a payment due in MarchA supervisor was
able to make sure our customer’s account was not drafted, and we have confirmed
that LoanMe has not made any attempt to draft the customer’s account since the
large payment our customer paid in February
Due
to the incorrect payoff amount provided by LoanMe, we have taken steps to
remedy the error, and we want to sincerely apologize for any confusion this may
have caused our customerTo honor the payoff amount our agent advised our
customer, we have accepted the payments our customer made toward his loan as
the full payoff on the loanThe status of our customer’s account has been
changed to “paid in full”, and he 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, he may contact LoanMe
directly at 844-764-

After accepting a personal loan at 100% Interest with the intention of paying this off in a short term of 6-months, all of my payments were on time for the first months and I then requested to re-finance the note while my account was in good standing in anticipation and full tranparency of an upcoming shortage of income They would not allow this and I have since fell into an unfortunate position with my finances The level of cooperation that I have requested was met with rejections and I urge anyone to seek financing assistence from anywhere else other than Loanme

I wrote the following review in the YELP app just to warn people:
No matter how desperate you are, don't ever loan from them! Look for other loan companiesI'm telling you from experienceBorrow $Paid $a monthA year later I owe $Please! Don't do itThey're taking advantage of people in desperate situationsJust my opinion and experienceCan't say I didn't warn you (they warned me too!) I was stupid!
Their reply:
Nic B: ***, please understand these are unsecured loans, therefore due to the high risk that is inherited with these agreements, interest is going to be highPlease don't cry and whine when you had every opportunity to read the loan agreement's fine print decline the loan all togetherRead the fine print sweetie! (** * *** ***)

I I applied for a loan they made me go to the website and put my bank credentials in they looked ar my account and said ok we agree over the phone for we discuss the terms which I have on audio they said it was a done deal then they asked for my visa number they said I can get it either that night but I would need my account to br linked through visa and they could wire it instantly So I gave them my visa They said everything was okSo I get off the phone feeling ok the next day but account was drained and they left a message saying my loan got sent to a different dept that decided to deny itThat's bull the underwriters all ready approved it I signed all documents I know the responsible for my account fraud and now im worried that have me signing this loan that they will take the money from that then im stuck paying it back Once we have s signed contract .and they said they sent me the money isn't it illegal not to

I obtained a loan with Loanme 4/30/for $ I have made my payments of $on time every month since I have now paid them as of today $4,I requested a staement of my payments and, it shows that only $2-dollars goes to my principle and, the rest of the payment goes to interest I was advised if I payoff today I'd have to pay $ Really? I've already paid for this loan already teh rest I am paying them is financial gain for thei companyI know that I signed the loan documents at the time I really need the funds to save my vehicle from repossession Now I no longer have the vehicle because we traded it in for a much cheaper car and, I am still paying on this loan I have advised Loan me that my hours have been cut on my job from full time to per diem which means they only call me to work if they need me which is not a lot I'm trying to keep up with the payments but, unemployment doesn't pay like my job use to It is getting harder and, harder each mon

I took out a personal loan with the Loan Me company I understand that these loans are designed to help someone with an immediate need for cash, and not to be paid out over a full term of the contract I borrowed 5100.00, and the payments I have made have reduced the principal by pennies Again, I understand this However, in obtaining payoff figures today, the payoff is a few hundred dollars higher than the principal balance of course they are saying this is daily interest I asked the customer service representative how would one ever be able to pay off a loan if not able to early into the loan and was told that was "virtually impossible"I then asked if could I negotiate the payoff to the "principal balance" as shown on my amortization schedule They transferred me to a "payment specialist' who checked with a manager, and yes , of course they would negotiate the payment to the principal balanceBUT, this would be a negative on my credit report! My loan paperwork spec