LoanMe Reviews (%countItem)
LoanMe Rating
Address: 1900 S State College Blvd Ste 300, Anaheim, California, United States, 92806-6152
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Loan sharking at its finest. Employees or better yet "sales" people will tell you the loan terms and say 135% like it means nothing!
I chose not to do business with this evil company and you should too. False advertising.
LoanMe is knowingly reporting false information to Experian. This account is not mine and they have failed to validate it as such.
After pulling my own credit Reports in August 2017, I noticed that LoanMe is reporting an ERRONEOUS, INVALID, and UNVERIFIED account to Experian which has caused a highly negative impact on my personal credit report.
I spoke with them on the phone, and I faxed them.
When I spoke to them on the phone, they said they had sold the loan to a collection agency and that I would need to speak to them, but they still didn't remove LoanMe's invalid, adverse loan account from my credit report.
When they received my fax, they responded via email twice. In both email responses, they failed to provide me with competent evidence that I have any legal the obligation to pay them, and they also failed to completely remove the invalid account and send me written confirmation of the removal. All 3 actions are clear violations of the FCRA.
The account wasn't in good standing when they sold it. This is now a collection account with a completely different company.
Since this is a bogus account, they have failed to do the following:
-Tell me what the money they say I owe is for:
-Explain and show me how they calculated what they say I owe:
-Provide me with copies of any papers that show I agreed to pay what they say I owe:
-Provide a verification or copy of any judgment if applicable:
-Prove the Statute of Limitations has not expired on this account:
Their actions constitute fraud under both Federal and State Laws:
-Violation of the Fair Credit Reporting Act
-Violation of the Fair Debt Collection Practices Act
-Defamation of Character
LoanMe, Inc. (“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.
Our
records indicate that the customer agreed to an unsecured consumer installment
loan on March 13, 2015, which included the funded amount of $3,100.00 minus a
$75.00 origination fee.
Based
on our research of the complaint, we reviewed the original application, as a
part of the investigation, as well as our records and telephone conversations, all
of which are recorded. We have confirmed that our customer provided sufficient
identification information to confirm that he was the applicant that applied
for and obtained a loan from LoanMe. LoanMe uses a third-party bank account
verification system, and we have confirmed that the funds that were deposited were
put into an account that is owned and controlled by our customer. In addition, the
applicant provided a voided check which matches the same account number, along
with a copy of his state issued identification card, as well as a utility bill
in the applicant’s name.
Each approved applicant in this program is also required to sign a Promissory
Note and Disclosure Statement, prior to funding. The applicant signed the
document electronically, after being notified by the agent it was the same as
signing in pen and paper, in compliance with the Electronic Signatures in
Global and National commerce Act (E-SIGN).
LoanMe
reports to the credit-reporting agency (Experian) on a rolling 30-day period,
and as a result, the customer’s account would only be viewable on an Experian
credit report. It is the policy of LoanMe to ensure that all information
provided to the credit reporting agencies is accurate and free of errors. 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”). If this customer
asserts that the loan was obtained through fraudulent means, he should file a
police report with the appropriate local law enforcement agency, and he should
provide a copy of the filed police report to the company.
On
September 6, 2017, LoanMe sent out a Verification of Debt to the customer’s
address.
Please
be advised that LoanMe no longer services this loan. The customer’s payment
became more than 120 days past due, and the loan was charged off on October 31,
2015, as a result. The loan was then sold to *** Corporation, on November 5,
2015.
Upon
receipt of this complaint, LoanMe has forwarded our customer’s concerns to Sunlan
Corporation for their review. Any further questions or concerns regarding the
loan should be referred to *** Corporation and they may be contacted
directly at 888-566-***, or at the following address:
Sunlan
Corporation
8502
E. Chapman Avenue
Orange,
CA 92869
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 regarding the
statements he made in his complaint.
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.
["The applicant signed the document electronically, after being notified by the agent it was the same as signing in pen and paper." This is untrue. An agent never notified me that an electronic signature is the same as signing in pen and paper. I did not sign any document with my signature in my own handwriting. This is the primary evidence/document necessary under the FCRA. Therefore, this entry on my credit report is in violation of FCRA.]
Regards
LoanMe,
Inc. (“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
customer did not raise any new points that were not already 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.
As
mentioned previously, documents are signed electronically in compliance with
the Electronic Signatures in Global and National commerce Act (E-SIGN). As
documents are signed electronically, there are no
physical signatures and information is recorded digitally.
When our
customer applied for the loan, he was provided with and the following
disclosure, and he indicated his agreement by selecting “I Agree” and
proceeding with the application process:
“To apply for and obtain a loan from LoanMe, Inc., you
must agree to receive all disclosures, notices, terms and conditions, and other
related documents and all changes to the disclosures, notices, and other
documents electronically”.
Additionally, the promissory note that he
signed electronically indicated the following disclosures:
“This Note is in original format an electronic
document fully compliant with the Electronic Signatures in Global and National
Commerce Act (E-SIGN) and other applicable laws and regulations, and that the
one, true original Note is retained electronically by us. All other versions
hereof, whether electronic or in tangible format, constitute facsimiles or
reproductions only.”
“YOU HAVE READ ALL OF THE TERMS AND
CONDITIONS OF THIS PROMISSORY NOTE AND DISCLOSURE STATEMENT AND AGREE TO BE
BOUND BY ITS TERMS. YOU UNDERSTAND AND AGREE THAT YOUR EXECUTION OF THIS NOTE
SHALL HAVE THE SAME LEGAL FORCE AND EFFECT AS A PAPER CONTRACT.”
We also confirmed that a loan agent did in
fact discuss the above disclosure and indicate the following during the signing
call that took place on March 12, 2017:
Loan Agent: “The last one
says you understand the terms of this agreement, and that this is a legal
document just like you are signing with a pen and paper.”
Customer: “Okay.”
During the same call, the loan agent then
provided our customer with further instruction on how to accept the loan, and advised
once again that by doing so he was providing his electronic signature.
We
thank you for this opportunity to respond, and if our customer would like to listen
to the recorded call, he may contact LoanMe directly and we will be glad to
play for the call for him. LoanMe may be reached at 844-764-7368