LoanMe Inc

I need extra money, and my credit scores weren't that greatI went online and found this loan company LoanMeIt was the biggest mistake that I have ever madeI took out the loan in July It was for $My payments started at $a monthThen I could no longer afford that amount, so I started paying $272, As of today, November 2018, after two years, the principal on this loan is $2,I called to get a pay off amount today for Monday, and I was told that the pay off would be $2,I asked them how could this beI did not understand anything the guy saidI told him that this has to be unethical and illegal and hung upI do not understand how could have a loan that I got in July for $would have a payoff of $in November when I have been making payments of originally $and now $I know that I should never use companies like this, but this has to be illegalThe way they are doing this loan, it would take forever to pay offAlso, a

I took out a loan with LoanMe when I was diagnosis with Breast Cancer to cover some bills until my disability checks catch-up The loan repmade it seem as if the $2,I borrowed would be paid off by making a payment of $a month, I understood there would be interest on it so it would be in my best interest to pay extra if I couldI was having the payments deducted out of my checking account monthly and learned only $was going towards the principal, $was the payment fee and the rest went to interest I learned I would end up paying $10,on a $2,loan Worst mistake I ever made, not to mention the majority of the representative and the lead persons are very rude

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

I reached out to obtain a loan with this companyI went through all the hoops they needed me to (by the way the rep I dealt with was great Terence C) and then they come back with a declineOk, fine I was declined but they refused to disclose why I was deniedTerence told me they only send out letters but refuse to tell the agents why there was a decline, even when he customer was demanding to know why they were declinedThis is unacceptableI did everything they required of me and then decline me without any explanationNot OkStay away, their interests rates are sky high anyway

LoanMe, Inc(“LoanMe”) is in receipt of the customer’s above-referenced complaint, and we welcome this opportunity to respond to help clarify and resolve the matterPlease allow this to serve as our formal response Our records indicate that the customer agreed to an unsecured consumer
installment loan on November 9, 2015, which included the funded amount of $3,minus a $origination feeOn March 23, 2016, after making only two payments, the customer requested to settle on the loan, because she could no longer make her regularly scheduled monthly installment The account history reflects that LoanMe agreed to a settlement arrangement with the customerThe settlement arrangement required that scheduled payments be made on or before the due dates, and if paid as agreed LoanMe would forgive the unpaid portion of the loanIf the conditions of the settlement were not fulfilled, then the settlement would be cancelled and the terms of the original loan agreement would be enforcedOur customer did not make her August or September settlement payments on time, and as a result the settlement agreement was cancelledThe loan was subsequently charged off on August 31, as a result, and it was correctly reported to the credit reporting agency as suchA review of the customer’s payment history reflects that she was more than days past due when the loan was charged off The customer has made inaccurate claims that the account was paid and therefore incorrectly reported to the credit bureauThe account was settled with a lump sum payment as of December 16, 2016, one day before the complaint was filedThe customer agreed to make a lump sum payment of $2,to settle on the loan in lieu of appearing in court. Because the account has recently been settled, LoanMe is in the process of reporting the account as “Settled in Full” with the credit reporting agency. The customer should expect the credit reporting agency to reflect this updated information in the next 30-days LoanMe reports to the credit reporting agency (Experian) on a rolling day period, and as a result the customer’s account would only be viewable on an Experian credit reportIt is the policy of LoanMe to ensure that all information provided to the credit reporting agencies is accurate and free of errorsIt 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”) We thank you for this opportunity to respond, and hope that we have helped to clarify the matter for our customerIf our customer has additional questions or concerns, she may contact LoanMe directly at *** Tell us why here

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 still have not dealt with the FACT that credit cards were an acceptable form of payment when I took this loan, as stated by their reps and on their websiteI entered this agreement with the confirmation that they did take credit cardsThey have changed the term of my loan, therefore this contract is no longer legal nor enforceable
Regards,
*** ***

LoanMe, has investigated our customer’s above referenced complaint and we are glad to have the opportunity to provide the following response and clarification, which we hope will be helpful Our customer entered into an unsecured consumer installment loan with LoanMe in July-2015. During
the loan process, LoanMe makes every effort to make sure that applicants understand the terms of the loan, and the way the loan works regarding interest and payments made to pay back the loan When our customer initially called to apply for the loan, the loan officer explained the terms of the proposed loan with her, including the no pre-payment penalty feature, and that additional amounts paid toward the loan would help to pay off the loan quicker. There was not any conversation prior to funding regarding additional payments being applied only to principal Additionally, our customer was provided, read, and signed the Promissory Note and Disclosure Statement for the loan, which explains how payments made toward the loan are applied, in particular it explains that payments are applied to any earned interest prior to principal. In reviewing the payment history of the loan, the payments were applied correctly and according to the disclosed method When our customer made additional payments to her loan, she received the benefit of those payments reducing the amount owed on her loan, as amounts payed toward the earned interest (with any remaining amount paid toward principal) resulted in the regular monthly payment being allocated to higher amount of principal, thereby further reducing the balance of outstanding principal on the loan We encourage customers to make extra payments toward their loan with LoanMe, as there is no pre-payment penalty, and it results in the loan being paid off quicker. Because interest on the loan is accrued on a daily simple interest method, additional payments made close after the regular monthly payment results in a higher amount of the additional payment going directly to principal, because there has been less time for additional earned interest to accrue Again, we hope this information will be helpful and provide clarificationIf our customer has additional questions about her loan, she may contact LoanMe directly at ***

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

If I could give them negative stars I wouldI too, like many was in a jam and made a HUGE mistake in using this companyI initially planned on paying it back within a few months but ended up having a double surgery on my arm and loosing my jobI am still off from the surgery months later and on temporary disability, which is $less than what I was makingI tried to make arrangements with them and even with the arrangements and being told I would not be charged late fee's by more than one agent there I still am being charged, I called an asked for a Hardship exception and offered them all of my tax refund as a pay offIt was far less than the $2,I owe after paying in $of $borrowed but would have paid back the amount I was givenThis bill is my highest bill and I did not want it to go on my credit report as a negative or have them take it to court and end up wit an even higher amount since the small print in their contract states they do not notify you of court proceedingsThey did not accept my settlement offer but said they would take $which was back to the owing amount with only $taken offNo break at all when I was honestly trying to work with themOH and by the if anyone does a loan with them in case you were not aware you can email them and revoke their right to use EFT to take payments out of your bank account, I was being charged overdraft fee's when I did not have the money to begin with for the current payment or even when you make a payment early they will still draft another payment from your accountAll VERY shady and I wish I would had done more research before making the HUGE mistake of dealing with the, Contacting the State Attorney General does sound like a good step to take!

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 utilized Loanme's website for a $10k loanAfter providing them my SSN & income information, the sent me an offer e-mail of 35.16% interest rate As I was signing off on the paperwork, I noticed it said 99.75% interest rateWhen I inquired about it, they told me it is because other businesses charge via a loan origination fee, whereas Loanme does not Later, I realize this is not trueLoanme did charge me a $origination fee & I was going to pay $61,in interest over the course of the loanI had to wait a year (after I paid almost $12k in interest) before I could qualify for another loan at 17.90% interest rate

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

This has to be the WORST company everHonestly I cannot understand how they have received a A+ rating, they must have connections on the insideNo one in customer service seems to know the process when you want to payoff your loan, when you ask a simple question you are given several different answers from the customer service rep to their supervisorsI won't be surprised when they are slapped with class action suit

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 May 11, in the amount of $5,minus a $pre-paid finance charge/origination feeDuring the application process on May 8, 2015, 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, and the number of payments required on the loan if paid as scheduledThe loan agent also explained that she could reduce the overall interest paid on the loan by paying the loan off sooner than scheduled, because there is no prepayment penaltyIn 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, and the repayment schedule of $for monthsIn 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 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 fullLoanMe 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 While the customer states that she was not given an option to “resettle,” a LoanMe representative explained that we do not refinance loans, rather LoanMe offers several financial assistance programs based on a customer’s demonstrated hardshipOn March 22, 2016, LoanMe accommodated our customer by offering to defer her April payment because she movedShe requested to defer her payment again on May 2, 2016, and it was explained that we cannot provide a deferment for two consecutive monthsThe representative attempted to offer further assistance and had only asked if she could make a half paymentConsistent with the initial request, a forbearance was arranged to $for the subsequent months of May, June, and JulyOn July 22, 2016, during the last conversation with the customer, she had only scheduled an ACH payment and indicated that she had no further questions or concerns when asked by our representativeIf she is still experiencing a financial hardship she did not communicate this at any time during our recent conversationsOur records reflect that LoanMe has attempted to contact her several times and has been unable to speak with her to communicate her available options It is important to note that LoanMe originated and owns this loan, and would not be considered a “debt collector” for this loan under the Fair Debt Collection Practices Act (“FDCPA”). Calls LoanMe places to delinquent customers adhere to the FDCPA, and are in accordance with the customer’s Note and are never intended to be anything other than a professional effort to collect a debt. Telephone contact attempts were made only between the hours of a.mand 9.pmlocal time, without exception, and were in accordance with the FDCPA. Several call attempts may be made during the course of a day to secure a payment arrangement, but once contact is made with the customer, no further calls will be made that same day without the customer’s permissionAdditionally, upon receipt of this complaint, we have ceased all phone calls and we have taken additional steps to ensure that only communication in writing takes place regarding matters pertaining to her loanIn 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 regarding the statements she made in her complaintIf our customer has additional questions or is still experiencing a hardship, she may contact LoanMe directly at ***Tell us why here

PLEASE DO NOT EVER GET A LOAN FROM THIS PLACETHIS IS THE WORST FINANCIAL DECISION I EVER MADE
I was in an emergency situation, and I got $loanI have been paying $monthly for over two years and still owe $Please no matter how desperate you are do not get a loan with this company, if you do not have the means to pay it back right away , you will having this burden for years, with no end in site.They have helped with making half payments a few times, but they will not lower my rate, even though the money I have borrowed has been paid backI can no longer afford this loan, ad unfortunately I am now days late, I was told if I made half a payment they would get me on a payment program, and I made the payment, when they transferred the call I was told I needed to make full payment before I could get helpI did not have the half payment, let alone a whole paymentPlease, Please,Please do not get a loan from this placeYou will regret it

This company is a joke First off, they prey on people with bad credit by charging a whopping 135% APR Luckily, it was only a loan until I got paid, so I wasn't charged an exorbitant amount of interest My complaint is with their customer service department First off, half the people I talk to had no idea what they were doing I was constantly asking for a supervisor Second, I overpaid on my loan by $ I called on Monday and spoke to a woman who told me it would be 2-business days until I was refunded It is now Friday and I am not refunded So I called again and spoke with someone who had no clue what she was talking about and kept asking me what date I paid the loan off I had her transfer me to a supervisor This supervisor told me that it would be 10-business days before I am refunded because they are sending me a paper check He said if I wanted it sent sooner I would have to pay a wire transfer fee of $ How ridiculous is that? What kind of business CHARGES someone who has paid them INTEREST for a REFUND?! So now I am out $for another 10-business days which means it could be calendar days This is not how they should treat a customer that just paid off a $3,loan IN FULL within the first month of getting it They need to properly train their customer service people to give the right information I was given information about when I would receive my refund I have never heard of a company waiting 10-business days to refund via papercheck It is

On July 6, I made an arrangement to *** (handling my account) to pay in full my balance of $5,to Loanme and it was approved by his manager and gave me a confirmation #*** After I paid in full my account and cleared from by bank, I checked my credit thru *** today, 7/online and I found out Loanme reported to the credit bureau that 'm late in the month of July I called them and let them know my account was paid in full and posted cleared in my checking account They keep insisted is the June but I told them no it showed it was on July After I paid and closed my account they reported I'm late It was a big negative impact to my credit score and I was so upset because I'm trying so hard to maintain may credit score in good standing I hope you can help me to resolve this problem from them and advise where should I go to report them

I only rate this company star because it makes me! Be ready to be harassed if you cannot pay your debt offThe last person who called my parents to harass them about where I was, said they would contact other people to find me, one of those people being someone my family has a restraining order againstThis person is the reason my family moved across the countryHe molested my daughter, we moved, and now I have a loan collector threatening to call this person about meWonderful .Maybe you can give him my new address too! BTWI got a $Loan, paid back more than $and now I apparently owe $14,This company sent me a letter January of stating my debt was going to collections and they call and harass and if you tell them to stop callingThey don't

On 12/1/2016, I took out a personal loan of $($+ $loan fee)Monthly payments were to be $388.40/month for monthsThe 1st payment was due on 1/1/I made a request to change my due date to the 15th of each month, making the 1st payment due on 1/15/On 12/1/2016, I made an principal only payment of $to lower the balanceThe balance was then reduced to $with a daily interest of $On 1/15/2016, Loanme manually reduced my 1st monthly payment to $from $and appled it to interest onlyThe interest due at that time would have been $(x days)The monthly payment's I agreed upon would have covered all interest dueBecause Loanme manually lowered my monthly payment, it left a "past due" interest balance of $This in turn has made all future payments go towards interest only as Loanme has created this past due interestI have attempted to reach them in regards to them changing my payment and not applying the paymen

Don't borrow from loan me I just recently got a loan from them majority of my payments are interest and only $or $each Payment is going to the principal that's why my loan will take years to pay off Found a better place to borrow from that is fair called Opertunity loan check them out you won't regret dealing with them