Preferred Capital Funding LLC

We received the complaint filed against us by Mr [redacted] Sr We regret that we were unable to meet his expectations from our company Preferred Capital Funding (“PCF”) is a licensed legal lending company and we provide case advance loans to individuals who have pending personal injury and Worker Compensation claims We have been licensees under the Missouri Consumer Credit Loan Act for over years Our company is licensed by the Missouri Division of Finance and therefore, all of our loan documents have been reviewed and approved for use by them before use in our loan transactions All loans that we do comply with the applicable lending laws in the state and are legal and proper We are audited by the State of Missouri on a yearly basis to ensure we remain in full compliance with all laws and requirementsSince our inception, we have assisted tens of thousands of customers with case advance loans and have received only a handful of complaints about our business practices Therefore, the vast majority of our customers are very happy with the service we provide them Mr [redacted] applied for a case advance on his pending Worker’s Compensation and motor vehicle collision cases stemming out of an incident from 12/23/ On July 13, 2016, Mr [redacted] received a $2,case advance at an annual interest rate of 44.95% Mr [redacted] came into our office to review and sign all of the loan documents, and to pick up his check Thereafter, he also applied for and received additional loans on August 19, in the amount of $2,and $1,on October 5, 2016, each also at a 44.95% annual interest rate Each time he received a loan, he presented to our office to review and sign the loan documents, and to pick up his loan check The Promissory Notes reviewed and signed by Mr [redacted] for each loan clearly set forth all pertinent information for each loan, including the annual percentage rate, the term of the loan, any applicable fees, etc Additionally, each set of loan documents was sent to his attorney for review prior to each closingMr [redacted] borrowed a total of $6,from PCF and each loan was done at an annual interest rate of 44.95%All the loan terms were set forth in the contracts he reviewed and signed at the time of each of his loan closings On August 2, 2017, the law offices of [redacted] , Mr [redacted] ’s attorneys, contacted us requesting a copy of the payoff statement for Mr [redacted] ’s account, and advised that his case had settled A copy of the payoff statement was sent to them Our records reflect that Mr [redacted] himself also contacted us on August 9, requesting the amount due on his accounts Mr [redacted] spoke to a PCF representative and expressed some concern that the amount due did not “make sense” The customer representative advised that she would look into it for him and he advised that he would call back Shortly thereafter, MrSinger, his attorney, contacted us asking for a breakdown of the interest accrued and that was immediately sent directly to him via email I am attaching a copy of the loan breakdown for your review as wellThe following day, on August 11, 2017, we received a check from [redacted] in the amount of $9,830.64, which was the full amount due on Mr [redacted] ’s account No one ever contacted us for any further clarification so we assumed that the loan breakdown which was sent answered any outstanding questions about the balance The file was marked as paid in full and has been closedI trust this satisfies Mr [redacted] ’s inquiry We do strive to completely satisfy each and every one of our customers Please let me know if we can provide any further informationVery truly yours, [redacted] , Associate General Counsel

We received the complaint filed against us by Mr. [redacted] Sr..  We regret that we were unable to meet his expectations from our company.    Preferred Capital Funding (“PCF”) is a licensed legal lending company and we provide case advance loans to individuals who have...

pending personal injury and Worker Compensation claims.  We have been licensees under the Missouri Consumer Credit Loan Act for over 16 years.  Our company is licensed by the Missouri Division of Finance and therefore, all of our loan documents have been reviewed and approved for use by them before use in our loan transactions.  All loans that we do comply with the applicable lending laws in the state and are legal and proper.  We are audited by the State of Missouri on a yearly basis to ensure we remain in full compliance with all laws and requirements. Since our inception, we have assisted tens of thousands of customers with case advance loans and have received only a handful of complaints about our business practices.   Therefore, the vast majority of our customers are very happy with the service we provide them.   Mr. [redacted] applied for a case advance on his pending Worker’s Compensation and motor vehicle collision cases stemming out of an incident from 12/23/2015.  On July 13, 2016, Mr. [redacted] received a $2,500.00 case advance at an annual interest rate of 44.95%.  Mr. [redacted] came into our office to review and sign all of the loan documents, and to pick up his check.   Thereafter, he also applied for and received additional loans on August 19, 2016 in the amount of $2,500.00 and $1,000.00 on October 5, 2016, each also at a 44.95% annual interest rate.  Each time he received a loan, he presented to our office to review and sign the loan documents, and to pick up his loan check.  The Promissory Notes reviewed and signed by Mr. [redacted] for each loan clearly set forth all pertinent information for each loan, including the annual percentage rate, the term of the loan, any applicable fees, etc.  Additionally, each set of loan documents was sent to his attorney for review prior to each closing. Mr. [redacted] borrowed a total of $6,000.00 from PCF and each loan was done at an annual interest rate of 44.95%. All the loan terms were set forth in the contracts he reviewed and signed at the time of each of his loan closings.  On August 2, 2017, the law offices of [redacted] [redacted], Mr. [redacted]’s attorneys, contacted us requesting a copy of the payoff statement for Mr. [redacted]’s account, and advised that his case had settled.  A copy of the payoff statement was sent to them.  Our records reflect that Mr. [redacted] himself also contacted us on August 9, 2017 requesting the amount due on his accounts.  Mr. [redacted] spoke to a PCF representative and expressed some concern that the amount due did not “make sense”.  The customer representative advised that she would look into it for him and he advised that he would call back.  Shortly thereafter, Mr. Singer, his attorney, contacted us asking for a breakdown of the interest accrued and that was immediately sent directly to him via email.  I am attaching a copy of the loan breakdown for your review as well. The following day, on August 11, 2017, we received a check from [redacted] [redacted] in the amount of $9,830.64, which was the full amount due on Mr. [redacted]’s account.  No one ever contacted us for any further clarification so we assumed that the loan breakdown which was sent answered any outstanding questions about the balance.  The file was marked as paid in full and has been closed. I trust this satisfies Mr. [redacted]’s inquiry.   We do strive to completely satisfy each and every one of our customers.  Please let me know if we can provide any further information. Very truly yours,  [redacted], Associate General Counsel