LoanMe Reviews (%countItem)
LoanMe Rating
Address: 1900 S State College Blvd Ste 300, Anaheim, California, United States, 92806-6152
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I took out a loan. On october 18th, I called and logged into the company's website and confirmed what my pay off amount was for that day. I submitted payment to pay the loan off in full. On oct 23rd, I checked my loan me account just on a hunch and the website showed that I still owed a principle amount. I called loan me and the person I spoke with first said that I did not pay off the principle balance. I informed her of what the agebt told me on oct 18th as well as the screen shot on oct 18th. She then changed her statement and and that I owed interest. According to their website, the amount due is principle not interest. I asked to speak to a supervisor and no one was available. So basically I paid off a debt with the amount that was 1)told to me by loan me's agent and 2) posted amount on their website and then they decided to add on more money to a loan that was already paid off.
Hello,
Please see the attached document for LoanMe's response to the corresponding complaint.
Thank you
I applied for a loan with this company today October 22,2019. I waited and waited to be contacted with a decision and when someone named *** called he was rude, unprofessional,demeaning and condescending toward me and said basically I probably won’t get the loan because he thinks I can’t pay it
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.
Based on our research of the complaint, our records confirm that the consumer submitted an application to LoanMe for an unsecured personal loan on October 22, 2019 and was conditionally approved, pending underwriting review. Upon review and consideration, it was determined that the consumer did not meet underwriting guidelines, thus the loan application was denied. We spoke with the consumer on October 22, 2019 and informed her of the denial and that an adverse action letter would be sent to her. When the consumer asked why the application was being denied, the agent informed the consumer that the application was declined because the applicant’s income was ultimately not sufficient to extend credit. LoanMe apologizes for any inconvenience this may have caused.
Additionally, during our investigation of this complaint, we listened to the telephone conversations that took place, all of which are recorded. There is no record of our agent speaking with the consumer in a rude, unprofessional, demeaning or condescending manner, as stated in her complaint.
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. If he has additional questions or concerns, he may contact LoanMe directly at 844-764-7368.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards
I have a loan with LoanMe that I applied and was accepted for back in July 2019. As of today I have made payments in excess of $1000 towards a loan in the amount of $2600. Despite making payments totaling over $1000, my total balance is still $2595 and some change. Furthermore, I was never told about an interest rate that is 135 percent. I am struggling just to pay other bills and if I pay far more than the minimum payment amount for monthly installments with LoanMe the balance hardly even goes down. This is a complete scam and utterly unethical business practices. I would like to know what recourse I need to take because I don't want to be in a situation where I have to pay over $20K over time for a loan that is only $2600. That is completely ridiculous. II am all for paying off my debts but this is unfair to pay way more than what you borrow. Please let me know via email what needs to be done at this point regarding my issue.
Hello,
Please see the attached document for LoanMe's response to the corresponding complaint.
Thank you
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards
I have taken out a loan in the amount of approx. $2500, and after their FEES, the initial payment is only $2200 with the agreement to pay a whopping $389 a month until we can provide the full $2500 back. Notice I said full $2500. Any extra payment goes towards the balance and lump sums can reduce interest. I have used and paid this company previously getting $2500 and paying over $4500 back. This time I ran into some issues with the loan repayment and re-contracted the loan to completely remove interest fees since I had paid back the loan and just owed interest. Unfortunately, facing some more hardships I wasn't able to continue paying on the interest and reached out to the company to let them know I can pay the remaining $400 interest fees in December when I get a settlement check. The company advised me to just pay what I can until then, and now I am getting harassing phone calls from a guy advising he was hired by loan me to sue me for over $16000 which would have been our original contract term and they did not care that I had paid them over what I borrowed already. This company is a LOAN SHARK, and they need to be sued, since they are taking advantage of low class citizens with their outrageous arrangements.
Hello,
Please see the attached document for LoanMe's response to the corresponding complaint.
Thank you
DO NOT USE THIS COMPANY! They pulled my credit without my authorization. I asked SCOTT P to remove the inquiry and he was no help. As an openly Gay Man I feel discriminated against, I have filed reports with the Revdex.com. Its really sad when predatory lenders take advantage of Minority founded business like ours.
I received a loan from LoanMe LLC back in 1/2016. I have noticed the loan payback has gone directly to the interest instead of the principle..My loan was roughly 2,500. I have paid Loan Me to this date close to 7,000 and have not had any of that going towards the principal amount. They continue to re-age the loan which is illegal, and have placed it on my credit report. I do not owe them the amount specified and they should not continue to be allowed to re-age the loan because it is a charge-off.
See attached response
LoanMe has failed to report the fact that they have received double payment to on my account, and furthermore payment went entirely into interest and not the principal. They have not listed the amount paid up to date on my account. They only listed the amount that was borrowed not what was paid back.
What Loan Me needs to do, is to admit the true full amount I paid back on the loan, and realize it has been paid in full!
Hello,
Attached is a copy of LoanMe's response to the corresponding complaint.
Thank you
Loan me offered me two different loans after I refused both offers they sent me a letter of credit denial which is a lie. I refused the loans , they did not deny me a loan. I dont know if this will affect my credit score.
Hello,
Please see the attached document for LoanMe, Inc's response to the corresponding complaint.
Thank you
This is a loan company. I have been making all my $ 388.00 payment and just noticed they only take 1dollar off my principal.
Hello,
Please see the attached document for LoanMe's response to the corresponding complaint.
Thank you
I was brought to LoanMe by a broker who was helping me get a small business loan. I got a loan for $10,500 on December 28, 2015 I signed the documents and have been paying the payments on time for 3 and a half years of $600 per month. I called to find out when this is paid off and was told that I had already paid $26,000 to LoanME and that the loan was matured in 2026 after I paid them $75,000! How can I owe this company $75,000!!!! When I have already paid them $26,000 on a $10,500 loan. This company is a loan shark and this can not be legal. I am filing a complaint also with the Attorney General. I have also discovered there is a Class Action against LoanMe. I am going to join this class action. I called LoanMe today and they told me that they were unwilling to settle with me. I have paid this company $26,000 already and I only borrowed $10,500!
Hello,
Please see the attached document for LoanMe's response to the corresponding complaint.
Thank you
I was the victim of target marketing as LOANME bombarded me and others in my region. The address where I live and my income would usually disqualify me from such a large loan with a large interest amount. Despite LOANME’s knowledge that they were targeting low income individuals with limited to no ability to keep the loan payment up to date and force default. All it took was one time for me to hear one of the deceptive ad’s on the radio… look up the info online… and realize it probably was not a good idea… but that is all it took for LOANME to get enough data to hit me from all angles. I was advertised to in all areas of my life including but not limited to:
Phone Calls, Text Messages, Radio, TV, Billboards, Internet Streaming, Google Ad’s, Phone Ad’s, Mailers.
All it took was one time for me to hear one of the deceptive ad’s on the radio… look up the info online… and realize it probably was not a good idea… but that is all it took for LOANME to get enough data to hit me from all angles.
Once I searched it… LOANME knew. And continued to offer me the deals despite the fact I rejected the initial time I looked up the info. Google is one of many companies who sell information on what their end users are looking up. LOANME pays for this data. LOANME knows that individuals such as myself who live check to check with low income and no higher education are susceptible to hard times and will get desperate soon enough… and when that time comes LOANME will be the first thing these individuals think of because of all the ad’s from everywhere.
If it was just ad’s there would be nothing wrong with these marketing strategies, however LOANME bought data from various companies to get info on the low income individuals such as myself, so LOANME can then use that information to focus their marketing on those individuals. This is the definition of target marketing and predatory lending. The loan was paid out to me despite the lender LOANME knowing that I would not be able to pay
Hello,
Please see the attached document for LoanMe Inc. response to the corresponding complaint.
Thank you
The response from LoanMe was a template response denying any wrong doing. This was expected. They know what they do is wrong and they will never admit to doing it.
LoanMe is in receipt of the 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.
The above-referenced complaint, Complaint ID: ***, filed on August 15, 2019 did not raise any new points that were not already raised in the consumer’s previous complaint, which we already acknowledged and responded to on August 14, 2019. Nonetheless, we are happy to provide additional details to assist our customer with her concern.
Please note, LoanMe maintains a regulatory compliance policy, which confirms that our advertising and marketing practices satisfy the standards set forth in the Truth In Lending Act (“TILA”), and its implementing regulation, Regulation Z. Additionally, LoanMe's advertising and marketing practices are in compliance with the Equal Credit Opportunity Act (“ECOA”), and its implementing regulation, Regulation B.
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 844-764-7368.
I used Lending Tree to request a loan to consolidate my credit card debt. I requested a loan for $5000. I did not qualify for the standard loan companies but did receive an offer from LoanMe for $10,001 at an interest rate of 99.74%. I can't understand how that is ethical for a company to allow such egregious rates and I have concern for people who are desperate enough to accept those terms. When I voiced my concern to Lending Tree about their partnership with LoanMe, they replied that it is not a 100% interest rate so it is entirely legal. I thought that banks had a limit of 36%, but I am being told that as long as it is under 100%, they can offer it. I hope these loan shark/predatory lenders can be put out of business.
Thank you for taking the time to post a review. Interest rates are determined by many different factors, not just one.
I think you missed the point about predatory lending and business ethics.
This account was charged off and is reporting late payments after the charge off date which is a violation of the FCRA and FACTA 312.
Hello,
Please see the attached document for LoanMe, Inc. response to the corresponding complaint.
Thank you
Last week I applied for a loan with loan me for school clothes for my 3 children. A *** called me congratulating me on my approval & right away asked me to send in my personal info such as my California I'd & social security card front & back. After he called back asking for my bank statements showing proof of my account & pay as well as a check or documentation with my routing number & checking account info. Once I had sent it on my personal documentation I waited a couple of days to hear back from Paul and nothing I was continuously calling the company calling his personal line and emailing him finally when he returned my call he asked me again for my bank statements and my current pay stub as well as having to redo all my bank information again. What's on my information was submitted I waited again and heard nothing back yesterday August 1st I heard back from a *** who congratulated me on my approval and said that it was time for me to sign all my documents so I can receive the funds I completed all the documents and they even recorded our line and recorded my voice it asked for my Debit Visa Bank information I gave them my card number the expression and the three numbers on the back as soon as he was *** that he hung up on me and I didn't hear back from them again hours went by and I received an email stating that my loan was denied didn't even have the courtesy to call me and let me know that I was denied left me very confused because they told me I was approved and took all my personal information and now being told I was denied to this day no one had called me back giving me an explanation Paul did reach out to me briefly after I continuously calling him I let him know how upset I was and how I didn't understand. He sounded so promising too unprofessional. My husband called him & the company back asking for a explanation, they have all our bank account info, my ssn & pic I'd along with my voice recorded. We still have not heard Nothing.
LoanMe is in receipt of the above reference complaint and we welcome this opportunity to respond to help clarify and resolve the matter.
Based on our research of the complaint, our records confirm that the consumer submitted an application to LoanMe for an unsecured personal installment loan on July 25, 2019 and was conditionally approved, pending underwriting review. Upon review and consideration, it was determined that the consumer did not meet underwriting guidelines, thus the loan application was denied. We spoke with the consumer on July 31, 2019 and informed her of the denial and that an adverse action letter would be sent.
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. If she has additional questions or concerns, she may contact LoanMe directly at
After further review of how my LoanMe payments are being allocated, I discovered that my payments do not go towards the principle about but rather only towards the interest rate, which is around 138%. This is absurd mainly because applying payments towards the interest rate does not lower the principle meaning that I will be paying until the end of the term unless I make a full payment of the payout loan amount. This should be illegal. Monthly payments should be applied towards the principal amount. This is how they trap borrowers into paying way more than the borrowed amount. This is a scam policy that the law does not protect borrowers from.
Hello,
Please see the attached document for LoanMe Inc. response to the corresponding complaint.
Thank you
LoanMe is in receipt of the customer’s follow-up correspondence associated with the above referenced complaint, and we welcome this opportunity to respond to help clarify and resolve the matter.
The customer’s follow-up correspondence relating to Complaint ID: ***, did not raise any new points that were not already raised in the customer’s original complaint, which we already acknowledged and responded to on August 7, 2019. It is evident that the terms of our customer’s loan were provided to her on more than one occasion, including, as stated in our previous response, our recorded call record of January 14, 2019 commencing at 3:07 P.M, wherein our agent reviewed all of the terms under the Truth in Lending Act Disclosure with our customer, and again pointed out the APR, finance charge amount, amount financed and total amount paid if the customer kept the loan for the entire 48 month term. Our agent also reviewed the payment schedule as noted on the Promissory Note, as well as advised of the interest rate.
Additionally, our customer was provided with a copy of the Note and a complete payment schedule that indicates the amount of each loan payment that would be allocated to principal and interest if payments were made as scheduled.
We thank you for this opportunity to respond.
It doesn't matter no how. Companies like this are protected by the loopholes in the law and are able to scam borrowers out of additional thousands of dollars. At this point, I am trying to sell my kidney to pay you back sooner than later because repaying $20,000 + on a $3,000 loan is highly immoral and unethical and is why LoanMe has a bad rap on the Revdex.com website. God have mercy on your soul.
I was told twice by the loan agen *** that my loan was fully apprived. Which in fact was a lie and false advertisement becuase after I was told multiple time it was fully approved it in fact was not issued to me
Please see attached response
I went through the process to become qualified with LoanMe for a loan. This included conveying banking information on myself personally and an LLC of which I am a member. Based on overall activity and the LLC bank account information a Promissory Note between me personally and LoanMe was created.
LoanMe wired to loan funds to the LLC bank account NOT my personal account. The promissory note is with me not the LLC /company of which I am a participant. I have not received the funds as stipulated in the promissory note.
LoanMe is in receipt of the above reference complaint and we welcome this opportunity to respond to help clarify and resolve the matter.
We have investigated our customer’s concerns by reviewing our records and telephone conversations (all of which are recorded). Our records confirm that he initiated an online loan application with LoanMe on July 12, 2019. Shortly thereafter, our loan agent called our customer to explain our unsecured loan products. Our customer chose to accept a $2,600 loan and on July 16, 2019, his loan was funded in the amount of $2,600 minus a $75 origination fee.
During the application process, our customer successfully completed our customer identity verification process through Decision Logic wherein our customer was required to log on to his personal bank account and enter his identification credentials including his personal bank account PIN to verify his identity. The bank account used during this process and to which loan proceeds were deposited showed our customer as an authorized signor. We can confirm that the loan proceeds were deposited into a bank account owned and controlled by our customer.
LoanMe retains the right to the full amount owed per the terms of the Note.
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. If he has additional questions or concerns, our customer may contact LoanMe directly at ***.
LoanMe is in receipt of the customer’s follow-up correspondence associated with the 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.
The customer’s follow-up correspondence relating to Complaint ID: ***, did not raise any new points that were not already raised in the customer’s original complaint, which we already acknowledged and responded to on July 30, 2019. Nonetheless, we are happy to provide additional details to assist our customer with his concern.
As we previously mentioned, the customer successfully completed our customer identity verification process through Decision Logic wherein our customer was required to log on to his bank account information and enter his identification credentials including his personal bank account PIN to verify his identity. The bank account used during this process and to which the loan proceeds were deposited showed our customer as an authorized signor. We can confirm that the loan proceeds were deposited into a bank account owned and controlled by our customer.
We thank you for this opportunity to respond.
Tell us why here...
LoanMe has a flaw in their process, will not acknowledge it or solve it and shifts the burden to the consumer.
LoanMe used their Decision Logic process to review three bank accounts in consideration for a personal loan for myself. One account was a personal bank account and two were corporate accounts that I am associated with.
LoanMe approved a personal loan and we completed a promissory note between LoanMe and *** – that’s me, a legal entity. LoanMe HAS my personal bank account information
Instead LoanMe wired the funds to *** of which I am associated with, a member of and a cosigner on the account. I do not control it as there is a co-signer.
LoanMe stated “We can confirm that the loan proceeds were deposited into a bank account owned and controlled by our customer.” This is a FALSE STATEMENT. I do not own and control the account – I am a cosigner and a member of the LLC with other people.
THE FLAW
LoanMe automatically wires the funds to whatever bank provided the information that made a loan possible. They had my personal bank information but instead wired the fund to *** of which I am a member of. At the time of the wire transfer *** bank account was significantly overdrawn and LoanMe funded the clearing of the bank account of an LLC that has no relationship with LoanMe.
FACT – BASIC COMMON SENSE
An LLC is a legal being treated as separate legal entity and capable of entering into contracts, agreements and promissory notes. Just like a person is also a separate and specific legal entity and capable of entering into contracts, agreements and promissory notes.
*** did not enter into an agreement with LoanMe and does not have a promissory note with LoanMe. *** as a legal entity did not ask for funds from LoanMe has no relationship with LoanMe.
I ***s entered into an agreement and resulting promissory note with LoanMe.
so, I incur a loan from loan me may 2019, its a 47 month loan. however, when I was checking the breakdown of my loan, I saw that I am only paying the interest of the loan and the only money that goes to the loan is only a few dollars. I was not aware that this is how my loan is going to be at the time I was applying for it. I think thats a scam towards the company. the break down is the first year I am paying the loan. the money thats being inputted towards the prinicipal balance is less than 10 dollars. I think thats a scam. I can understand if its 50 percent 50 percent but not all the money goes towards the interest.
Hello,
Please see the attached document for LoanMe's response to the corresponding complaint.
Thank you
Loanme collected my personal information . They informed me that I was approved and ask for my Id , voided check . The rep Jordan Lee requested more bank info in which I gave to him. The next day the rep Jordan Lee contacted me and informed me that I was decline funding with no explanation . I since secured all my personal information and made my bank aware. The company Loan Me is misrepresenting and leading consumers to gather their there personal information the claiming to approve consumer then decline with no explanation . I contacted Jordan Lee in which he was rude and didn't want talk . I believe this company is a scam .
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.
Based on our research of the complaint, our records confirm that the consumer submitted an application to LoanMe, Inc. (LoanMe) for an unsecured small business loan on June 21, 2019 and was conditionally approved, pending underwriting review. Upon review and consideration, it was determined that the consumer did not meet underwriting guidelines, thus the loan application was denied. We spoke with the consumer on June 26, 2019 and informed him of the denial and that an adverse action letter would be sent to him to explain the denial.
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. If he has additional questions or concerns, she may contact LoanMe directly at 844-764-7368.
To resolve this complaint. I was informed that a credit pull would not hurt my credit score and the inquiry showed up on my credit report. This in turn has drop my credit score. I would like the inquiry removed .
LoanMe is in receipt of the customer’s follow-up correspondence associated with the 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.
The customer’s follow-up correspondence relating to Complaint ID: ***, did not raise any new points that were not already raised in the customer’s original complaint, which we already acknowledged and responded to on July 3, 2019. Nonetheless, we are happy to provide additional details to assist our customer with his concern.
LoanMe only runs credit reports on applicants who give their express permission to do so during the process of applying for a loan. However, as a courtesy, on July 9, 2019, LoanMe submitted a request for the hard credit inquiry to be removed from the consumer’s credit report; this may take up to 30 days to be reflected on the consumer’s credit report. Please allow our response to serve as a written notification to our consumer.
We thank you for this opportunity to respond.
I have been trying to pay this Loan off Since May 30th. I paid the payoff amount in full and Received a confirmation # via email (***). The payoff instructions state it take 3-5 business days to process the check . Just to verify I check my Loan summary on the 6th of May and it still has a balance and there is no longer a pending transaction for the payment. Call the customer service line and they say it was reversed and they do not know why. So we process the payment again I receive yet another confirmation email (***) stating the loan payment is authorized. Another 6 days go by and the payment gets returned again. I checked with the bank and let them know it was coming out and make sure no fraud alerts are on this or anything, June 12th I get on the computer and make three separate payments through Western Union Speed pay because of their limits and the amount of the loan. Two payments Process after another phone call asking them to look at my file and help me with this and it is the 19th and I have still have a balance pending! I am in the closing of a house right now and this loan needs to be $0 to finish the purchase. The reason today is the Department that handles the backdated payments is understaffed and they don't have any way of knowing when it will be processed. The original payoff was $7010.20 on the 30th of May, and because of the interest it is now $7190.27 that I am stuck paying off plus three separate transaction fees through western union speed pay because their system couldn't process the final payment in full. I have emailed their Customer Service line and gotten no responses back and that was the route I was told to take today to get and answer form the department handling my final payment. The lack of competency with this final payment is astonishing. There was never an issue taking the payment right out of my bank every month, yet it seems when you want to pay off the total loan they hold you hostage. Much wasted time trying to complete
I do not understand how the exact same Account that paid off the finally payment on the loan was returned twice to make me use alternative forms of payment and pay three fees plus the accrued interests. Secondly I was not informed, I had to check to see the pykent was returned! This is unacceptable and I will will not go down, even if it is just $165. I want this corrected so that not just myself, but others, using their payoff system do not get nickeled and dimes out of cash. This seems like a common tactic with this company.
They are horrible . I have paid the principal on this loan as it was my Mom’s. My Mom has since passed, and although the original loan was for $5000 , they are charging $14000 in interest- and now are garnishing my wages- I am getting a lawyer to handle this, and if that doesn’t work, bankruptcy
Thank you for taking the time to post your review as well as your comments regarding the terms of your loan. We always encourage our customers to pay off their loans as quickly as possible to pay the least amount of interest.