National Small Loan Reviews (%countItem)
National Small Loan Rating
Address: PO Box 632, Lac du Flambeau, Wisconsin, United States, 54538-0632
Phone: |
Show more...
|
Web: |
|
E-mails: |
Sign in to see
|
Add contact information for National Small Loan
Add new contacts
This is a portion of an email response to my original complaint discussing what this company is attempting to collect for a $600 loan:
"Each payment that is made consists of a portion applied to principal and a portion applied to interest. As you go further into the payment schedule more of your payment is applied to principal and less to interest.
To date, you have made 1 minimum installment payments ($382.40 each), which total out to:
Principal: $7.90
Interest: $374.50
Total of Payments: $382.40
If you continue to make only minimum payments for the remaining 7 installments, you have this much to cover:
Outstanding Principal: $592.10
Outstanding Interest: $2,084.47
Outstanding Balance: $2,676.57"
This is the essence of predatory lending. I will be contacting my financial institution and any Attorney General's office that will hear this complaint if funds are taken from my account before a member of the "Leadership Team" responds to my emails to National Small Loan.
I have a deposit from National Small Loan co. dated 12/13/2022. I never filled out an application for a loan withj your company. So I am asking you to with draw this money, ASAP. Or I will turn this over to my attorney
I took out a 500.00 loan from this business. I have paid on time every month since the start of the loan. Due to covid-19 I have lost my hours at work and wanted to make a payment arrangement. Every time I try to log in to my account online it tells me my account cannot be found, with no way of resetting any information. When I try to call, it is very unsuccessful in trying to make a payment arrangement. I am unable to make my payments and I feel this company is impossible to get in touch with. Very dissatisfied.
Please see attached that includes:
Although not required to do so, as a courtesy, the Company will reach out to the customer withan offer to resolve their loan.Although not required to do so, National Small Loan (NSL) is willing to settle Customer’saccount for the outstanding principal balance, which is $397.53. Customer can pay this amountin one payment or in installments. Customer must contact NSL to arrange the payment or apayment plan. As for Customer’s inability to log into her online NSL account, that may be due tothe fact her account is currently in collections or the case-sensitive nature of the required log ininformation. Customer can also contact NSL to discuss this matter, too.
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
I applied for a small loan and was approved. They did not disclose interest rates or require a contract. Funds were dispersed without my knowledge and confirmation of my agreement came from a clause stating that not responding to an email in my spam folder. For a 600 dollar loan I now owe 189 in bimonthly payments until January. If I had an opportunity to review the terms I would have not agreed to these terms. They were deliberately deceptive of their intentions to extort me for interest rates that I frankly thought were illegal.
To Whom It May Concern: This responds to the above-referenced complaint. This inquiry related to a loan from Midaaswi, LLC dba National Small Loans (the “Company”), which is owned by the Lac du Flambeau Band of Lake Superior Chippewa Indians (“Tribe”). The Company takes these types of inquiries very seriously and would like to provide you with the below information. Nothing in this communication should be construed as a waiver of the Tribe’s or the Company’s sovereign immunity, all of which are expressly preserved. The Company is a wholly-owned and operated subsidiary of LDF Holdings, LLC (“LDF Holdings”). LDF Holdings is a wholly-owned and operated subsidiary of the L.D.F. Business Development Corporation, which is a wholly-owned and operated economic arm and instrumentality of the Tribe. The Tribe is a federally recognized Indian tribe, organized under a Constitution pursuant to the Indian Reorganization Act of 1934, 48 Stat. 984, 25 U.S.C. §§ 476, et seq., as amended, and is identified on the United States Department of Interior’s list of federally acknowledged Indian Tribes. 83 FR 34863-01 (July 23, 2018). The Company is an arm of the Tribe. As an arm of the Tribe, the Company possesses all of the privileges and immunities of the Tribe. The Tribe and the Company are entitled to tribal sovereign immunity and they are not subject to state law. Wells Fargo Bank, N.A. v. Lake of the Torches Econ. Dev. Corp., 677 F. Supp. 2d 1056, 1061 (W.D. Wis. 2010) (holding that entities acting as arms of a tribe are entitled to tribal sovereign immunity). The Company issues loans in accordance with the Tribe’s Tribal Consumer Financial Services Regulatory Code and it is licensed under Tribal law. The customer’s loan agreement provided that it would be governed by the laws of the Tribe, without regard to the laws of any state. The interest and fees applicable to the loan are permitted by Tribal law. They were accurately and clearly reflected in the loan agreement that the customer signed before receiving the loan. The customer also received a TILA disclosure that outlined the amount and date of each payment required under the loan agreement. Due to its immunity, the loan is not subject to state law and the Company is not required to be licensed with any state. The customer’s loan is legal. The company received a signed a loan agreement from Customer on 5/20/2020 to borrow $600.00 from National Small Loan(The company) The agreement clearly reflects a total payoff of $3,034.69, with a finance charge of $2,434.69 and an APR of 731.01% over the life of the loan. DocuSign Envelope ID: A5C2E787-B2FD-4B15-B980-1B2B4B61FA14 Midaaswi, LLC dba National Small Loans Po Box 632 Lac du Flambeau, WI 54538 LDF Holdings, LLC Po Box 231 Lac du Flambeau, WI 54538 After the loan was approved, company attempted to contact Customer by phone, but the call was unanswered, and the automated message advised that Customer’s voicemail box was full. NSL could not send a text message to Customer since he did not opt in for that mode of communication, but did send Customer an e-mail advising him that the loan was approved and the funds would appear in his account the next business day. Customer has not communicated with NSL since the loan was originated. The only communications to Customer from company since origination have been courtesy payment reminder e-mails before each scheduled payment. The emails were sent after attempts to reach Customer by phone were unsuccessful. Customer has paid a total of $758.84 on this loan. The loan’s terms were clearly outlined in the loan agreement that Customer signed. Although it is not required to do so, the company is willing to settle Customer’s account for $584.51, which is Customer’s outstanding principal balance and can be paid in installments. Customer must contact company to arrange a payment schedule. The customer can call the Company at 1-877-778-8006 if there are further questions or concerns. The Company trusts that the complainant will find this letter of explanation satisfactory. However, if the complainant is not satisfied with the Company’s resolution of this matter, pursuant to Section 10 of the Tribal Consumer Financial Services Regulatory Ordinance, which can be found at https://www.ldftribe.com/uploads/files/Court-Ordinances/CHAP94-TribalConsumer-Financial-Services-Reulatory-Ordinance.pdf, he/she may pursue formal dispute resolution with the Tribal Consumer Financial Services Regulatory Authority (“Authority”). To do so, he/she must send a written request to the Authority at P.O. Box 25, Lac du Flambeau, Wisconsin 54538. The request must contain the information required by Section 10 of the Tribal Consumer Financial Services Regulatory Ordinance. ` Kindest Regards
I have never heard of this company prior to these calls. I have not applied for a loan with National Small Loan. On July 29, 2020 I received 13 emails in one day and numerous calls. The next day on July 30th, I called National Loan that I did not apply for a loan and to please remove me from their system. I provided my name and phone number and was informed that I would no longer receive communication. Today Aug 3, 2020 I am still receiving phone calls. When I called National Small Loan again for a second time to inform them again to stop communication. The agent was insistent that I provide my last four of my SS. Which I am not providing since, again, I did not apply for this loan. I am tired of receiving calls and emails.
Please see attached:
Company has opted Customer out of all communications from company. As to her claim thatshe did not apply for the loan, if she provides company provides a copy of an ID theft complaintfiled with a local law enforcement agency, the Federal Trade Commission, or her state’s attorneygeneral’s office, company will take the appropriate next steps, such as notifying the underwritingcredit reporting agency that the application was a result of fraud.
I recieved texts and emails from a loan company this morning called National Small Loan. I did not apply for a loan with the company. I recieved a phone call from them asking for a signature/ESIG so they could fund my loan. When I told the caller that I did not apply for a loan she asked me for my email address. I provided that and she stated that indeed a loan was applied for today for $300. I told her I did not apply for any loan from them now or ever. I got another email stating that my loan could not be funded for several reasons. I called back and was asked to provide the last four of my social security number. I told the caller that I was not comfortable providing this over the phone and that on a previous call all I had to give was my email address and they found my account. She told me she could not provide any info. unless I provided the last four of my SS. I would like to lodge a complaint against this company. I am very concerned that there was a hard inquiry to the credit bureaus and that my score will lower because of this fraud.
Customer’s account was withdrawn the same day it was received due to the complaint. IfCustomer wishes for company to contact the underwriting credit reporting agency to let them knowthat the application was the result of fraud, Customer must provide a copy of an ID theft complaintfiled with his local law enforcement agency, the Federal Trade Commission, or with his state’sattorney general’s office. Once we receive that, we will be contacting the credit reporting agencyto let them know that the application was the result of fraud.The information can be sent to [email protected]. If the customer has anyadditional questions, he/she can call the Company at 1-844-388-0500.
First they contact me a lot to pay. I got $600.00 from them and have so far paid them $1295.24 and I have to pay again,next week.I am a 64 yr old and I don’t have the money to waste on them.I want to stop payments to them. They also will not tell me how much I owe on the loan.
Although not required to do so, company is willing to waive the remaining balance oncustomer’s account and close it.
The customer can call the Company at 1-844-388-0500 if there are further questions orconcerns.
This company kept sending me emails regarding a loan application for a loan I did not apply for. I informed them that they needed to remove my name, my email address, & phone number from their system because apparently my information was fraudulently used. Instead, they continued emailing & calling my phone requesting that I finalize paperwork with a signature! I finally had to call, get hostile & demand the removal of my information. The woman (name is Shanya) said she would remove my information. This company had the nerve to email me a denial letter!! Simply unbelievable being that I NEVER APPLIED FOR A LOAN!!
I originally borrowed $600 from this business and I already paid $879.55 and now they are saying That I owe an additional $850.81. I already paid over $279 in interest which is equivalent to an annualized percentage of over 500%. This is illegal in Florida’s maxium annual percent is 15%.
Please see attached that includes:
Although not required to do so, as a courtesy, the Company will reach out to the customerwith an offer to resolve their loan.The customer can call the Company at 1-844-388-0500 if there are further questions orconcerns.
I am thankful that they helped me when I really needed the money. But, I have more than paid my loan back and when I called and asked if they would consider my loan paid in full I was told they couldn't do that, but offered smaller payments but it extended my payments even longer. I told them no I didn't want that, so they didn't even take a already scheduled payment so now I have a "past due" payment.
I applied for a 500.00 loan from Nation Small Loans in late March. I never heard back from about being approved or to electronically sign any documents. Later in the day I found a 500.00 deposit in my bank account. As far as I know I never accepted the loan. Now they are taking out 146.00 every 2 weeks. So far the total amount I have paid is 1,087.00. That would be 7 payments. I have tried to contact these people with no luck. I got through to one person but she couldn’t give the balance of the loan. I gave her my phone number so that the right department could call me back. Well, I haven’t heard from anyone as of yet. Also, they have my SS# but the loan is apparently in my husband’s name. I feel like they are dishonest and taking my money from me fraudulently. Thank you very much. P.S. I’m going to contact my bank to block any upcoming payments
Please see attached that includes:
You requested information regarding a loan for which you are not the customer. Privacyrules prevent the Company from disclosing information about its customers without their consent.If the individual you identified is a customer, he or she may contact the Company directly
They altered an online loan application and used that altered information to open an account in my name without my consent and refused to stop harassing me by phone and email unless I gave them my personal information.
I borrow $200.00 from NSL about around Feb - 2020 I pay back 527.76 so far they are still taking money from me I think this loan should be paid of already .Please Thank You
As a courtesy, even though not obligated to do so, the Company will close the subject loan andwill consider it paid in full.The customer can call the Company at 1-844-388-0500 if there are further questions or concerns.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Regards
I received a small loan from them and now I’m not financially able to pay. The interest is super high. I believe I’ve paid back way more than I borrowed already
Please see attached that includes:
As a courtesy, even though not obligated to do so, the Company will close the subject loan andwill consider it paid in full.The customer can call the Company at 1-844-388-0500 if there are further questions or concerns.
Would not discuss interest rate. Have called them43 times. No response. Tried to pay off loan first month with no response. Loan was $300 and now about 1000. I get no response and no one will return my call. Receive 2 letters. I have called the numbers given and told NOone can take a call. Claim THEY ARE WORKING ON IT. I’ve filed a complaint with then and no response
Please see attached that includes:
Although not required to do so, as a courtesy, the Company will reach out to the customer toresolve their loan.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
This company does not respond after I have called many times. They can CALL me to reach out to get this resolved.
Regards
Please see attached that includes:
As a courtesy, the Company will reach out to the customer to resolve their loan.The customer can call the Company at 1-844-388-0500 if there are further questions or concerns.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
I have called and left messages. No one ever calls me back.
Regards
Ever since I have got this loan, I am been continuously harassed by phone calls, emails and text messages of reminders of upcoming payments. I have made several attempts to please let them know that I do not need a reminder of this loan. I have also talked to supervisors to please have all of this stopped. Every 2 weeks, I receive between 16-18 calls, texts and emails. This past Thursday, they were supposed to take the payment out of my account, never did, and now they say I am in default.
Please see attached that includes:
There is nothing supporting Customer’s claim that NSL made “6 calls a day” or sent “7 to 10messages” every day, or that she has received “16-18 calls, texts, and e-mails” every 2 weeks from NSL.NSL made a courtesy payment reminder call before each payment date, all but one of which were neveranswered. Since they were not answered, a second call to Customer’s other number or a voicemail and/oran e-mail was left and sent to Customer. NSL made no more than two calls for each upcoming paymentdate. However, Customer’s account has been flagged for “no courtesy calls”, and Customer will no longerreceive payment reminder phone calls from NSL. There was only one text message sent by NSL toCustomer, and that was to let Customer know that her loan was approved. Customer’s account has nowbeen opted out of receiving text messages from NSL.If Customer wants her payments reinstated, she must contact NSL at 1(877) 778-8006
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
I am not surprised at all that they denied the claim. I do know that I have made several complaints to National Small Loans on the continuous numerous texts, phone calls, and emails reminding me of my upcoming payments to the point that they filled up my voicemails. I made several phone calls asking to talk to a supervisor to request that it stop. No supervisor called me back. I did have a supervisor email me apologizing for the continuous calls, texts and emails. That email no more came through that I received a phone call and email from another person reminding me of my payment. I have a right to be upset with National Small Loans because of the harassment. I have also made 2 different calls requesting to talk to management about the account, and I have never received a call or email back from them. I will attempt to call them back again this week, and I will be making documentation to all attempts with them. I do feel that I should be compensated for all the problems that I have had with National Small Loans. I do know that I will never make any type of recommendation for National Small Loans, because I do not want anyone to have the problems that I have had. I also looked up National Small Loans, and they have received 107 complaints against them. I do not know of my balance with them, because I cannot get on the website.
Regards
Please see attached that includes:
Although we are not required to do so, the company is willing to offer to freeze this customer'soutstanding balance at $672.28, which was the payoff quote for 5/26/2020, and the company is willing toaccept $100.00 biweekly on the future payment dates listed in the loan agreement until this amount ispaid off. The customer MUST contact the company at 1(877) 778-8006 and confirm this payment plan andauthorize these payments as the company cannot implement this payment plan without hearing from thecustomer. There is nothing supporting Customer’s claim that the company made “6 calls a day” or sent “7 to10 messages” every day, or that she has received “16-18 calls, texts, and e-mails” every 2 weeks from thecompany. However, Customer’s account has been FLAGGED for “no courtesy calls”, and Customer will nolonger receive payment reminder phone calls from the company. There was only one text message sentby the company to Customer, and that was to let Customer know that her loan was approved. Customer’saccount has now been opted out of receiving text messages from the company.
This nasty company put money in my account without my knowledge or consent of $600, I did not want this loan with the highest interest ever, they have been taking money out and has totaled 703 when I caught this, they have been paid back plus 13% interest and will no longer get anymore if my money as directed to my bank to block all business from their services, consider themselves paid in full. This is a scam business. They better not ruin my credit . This is illegal in South Dakota, what are they doing here unlawful.
Please see attached that includes:
The account was escalated to NSL management on 5/8/2020. The initial deposit was returned to NSL with return code R23. The four payments thatCustomer had made on the loan were also returned to NSL, but with return code R10. Since the initial deposit was returned to NSL, we are willing to close the account. However, ifCustomer wishes for us to report this account as a product of fraud, she will need to provide NSL with acopy of a ID theft complaint filed with her local law enforcement agency, the Federal Trade Commission,or her state’s attorney general’s office.The information can be sent to [email protected]. If the customer has any additionalquestions, he/she can call the Company at 1-844-388-0500.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
That’s fine as long as they mark satisfied, not ruin my credit and do not try anything else I’ll consider it satisfied as well. Thank You
I borrowed money from NSL back in February, thinking I would pay it off in a month or 2. Made 3 payments of $189.71 and in the 2nd week of April, called and try to get a payoff from a phone rep. Could not give it to me and said they would call me back in 5 minutes. Never called, and the next day they took another payment from my bank account. I called the 23rd and they told me my compaint had been forwarded to complaint dept. Received another email saying it was still in complaint dept. Received another email saying my payoff was 779.78. I told them I was closing the automatic payout from the bank. I got no answers from phone calls and couldn't get a payoff before the last payment. Now I receive another email saying they will still accept the $779/78 or they will keep adding interest until the 2400+ is paid. One can go to any financial institution and get a payoff of a loan any time. Not here and not with the worst business practices I have ever come across. No phone calls answered, no emails answered in a reasonable amount of time, and ridiculous business practices.
Customer signed a loan agreement on 3/10/2020 to borrow $600.00 from National Small Loan. Theagreement clearly reflects a total payoff of $3,034.69, with a finance charge of $2,434.69 and an APR of779.64% over the life of the loan. Customer called NSL on 4/21/2020 and requested a payoff quote. Customer was advised by theagent that he would find out the payoff amount and contact Customer. Roughly 20 minutes later, theagent was provided a payoff quote for 4/22/2020 to provide to the Customer Customer texted “help” to NSL roughly an hour after calling NSL on 4/21/2020. NSL asked thatfor verification purposes Customer verify his e-mail address and the last four digits of his Social Securitynumber. Customer responded, “I have done that online and over the phone and haven’t gotten aresponse, I am going to the Revdex.com to see if I get my money back ridiculous”. The account was then escalatedto management. After management review, NSL sent an e-mail to Customer on 5/4/2020 advising him that werequire at least two forms of verifying information for the security of customers’ information, and thatwithout verification Customer’s personal information could be at risk of exposure, which can lead to fraudbeing committed against him. In that e-mail, NSL offered to accept the payoff quote for 4/22/2020, whichwas $779.78, if paid by 5/6/2020. Customer provided no indication that he wanted to accept the offerand pay off the account. Customer called NSL on 5/5/2020 asking to speak with a “supervisor”. Customer was advisedthat one would reach out to him soon. NSL reached out to Customer on 5/7/2020 by phone, but no oneanswered the call and a voicemail message was left for Customer. Customer sent a text message to NSL on 5/6/2020 telling NSL to stop automatic payments onhis account. On 5/12/2020, NSL sent Customer an e-mail reminding him of the payoff and outstandingbalances on his account and advising Customer that NSL was still willing to accept $779.78 to pay off hisaccount. Customer did not respond to that e-mail. Customer has paid a total of $569.13 on this loan.NSL is willing to settle Customer’s account for a one-time payment of the outstanding principal balance,$590.07, if NSL receives that amount by 5/20/2020. Customer will need to contact NSL to make thispayment.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
I have only made $10 per loan on the balance. That is ridiculous!! But, besides that it is the actions of the business that have disgusted me and taken soo long in responding to my questions! I possibly could have paid off the loan before the last payment if a customer rep would have told me the balance on that day. They just didn't respond because the payment was due the next day!!need to respond better than that. I am sure they looked up my finances and know I can't pay off these large expenses. A judge would put me in the poor category and probably didmiss. Come on down!!
Regards
Although not required to do so, as a courtesy, the Company will reach out to the customer withan offer to resolve their loan.The customer can call the Company at *** if there are further questions or concerns.