How smooth the transition was but the only thing that i would complain about really is the high interest rates of 29% on a loan that you are trying to get out from under with other obligations.
Thank you
Response from LendingUSAOct 1, 2024
Hi there!
Thank you so much for sharing your feedback! I’m glad to hear that the transition was smooth for you. We always aim to make the process as easy as possible for our customers.
I appreciate your thoughts regarding the interest rates, and your feedback is invaluable as we strive to improve our services. If you have any questions or if there’s anything else we can assist you with, please don’t hesitate to reach out. We’re here to help, and we truly value your input! Thank you again for taking the time to connect with us!
SA
Sasha
Unwillingness to handle matters amicably
I have experienced nothing but negligence . I made a purchase September 12th through what I thought was “lending USA “ too later find out that they furnished my NPI to a third party (Cross Rivers Bank) without giving me proper disclosures pursuant the FCRA and GBLA. In Laymans terms “I had NO idea there would be a third party involved that was actually the one financing my loan.” I was under the assumption it would be directly through Lending USA as it was not clearly and conspicuously disclosed to me that Cross Rivers Bank would be involved until AFTER I signed my contract and received my Truth In Lending Disclosure. I then reached out on the 14th (2days later) to express my concerns with the terms on my contract and to cancel the contract ( Federal and State Statutes allow the cancellation of a contract before midnight of the 3rd business day, the right to rescind) for multiple Consumer Rights violations which I can not disclose at the moment and was met with complete disregard of the law. I have reason to believe there has also been deceptive practices with LendingUSA and one good example of this is the discrepancy in loan disbursement. When I spoke to the representative about cancelling my contract she stated that the loans “had not been disbursed but your account is ready to fund” meaning I would have legally been able to cancel my contract and return what was purchased to the merchant and LendingUSA would not have suffered any financial loss, everyone would have been happy. I’ve sent multiple emails with revoking my authorization to disburse the funds due to TILA violations and material misrepresentation and was yet again met with no help. I was acting in good faith and willing to return all properties to the merchant. On the 17th I called the customer rep again and she confirmed yet again “funds had not been disbursed but your account is ready to fund”, and BOOM! 10 minutes later I received an email response ,from my request to revoke authorization. The email stated funds were disbursed on the 13th and no cancellation will be given because “you checked the box and agreed to the terms”. ARE YOU JOKING?! All this to say that Lending USA has complete disregard for the law, consumer protection, and unfair trade practices with an unwillingness to resolve matters amicably. They feel as though company policy and procedure take precedent over Federal Regulations and that is mind boggling to me. I will never do business with them again.
Response from LendingUSAOct 1, 2024
Thank you for your feedback. We take concerns like yours very seriously and would like to address each point you’ve raised.
1. Disclosure of Third Party Involvement: LendingUSA operates in partnership with Cross River Bank, as disclosed in the application and loan documentation. We are committed to complying with both the Fair Credit Reporting Act (FCRA) and the Gramm-Leach-Bliley Act (GLBA). The involvement of Cross River Bank was included in the Truth in Lending Disclosure and other relevant documentation. We regret any misunderstanding, but proper disclosures were made in accordance with applicable laws and regulations.
2. Right to Rescind: Under the Truth in Lending Act (TILA), there are specific guidelines regarding the right to rescind certain types of loans. The right to cancel typically applies to loans secured by a borrower’s primary residence. Since this loan is unsecured, those rescission rights may not apply in this case. However, we operate within all applicable federal and state statutes, and the contract terms were clearly disclosed before any commitment was finalized.
3. Loan Disbursement and Contract Cancellation: Regarding your request to cancel, we understand your frustration. The timing of the disbursement followed the agreed-upon terms in your contract. Once the contract was signed on September 12th, the transaction was considered complete, and LendingUSA is obligated to honor the agreement.
It's important to note that your purchase agreement with the merchant, specifically for a dog, clearly states that returns are not allowed. This is a matter between you and the merchant, as they determine their return policies. For the loan to be canceled, the merchant must first accept the return of the puppy and issue a refund back to LendingUSA. Only once LendingUSA receives the refund from the merchant would we be able to cancel the loan. Unfortunately, unless the merchant agrees to the return and issues a refund, the loan remains active per the signed purchase and loan agreements.
4. Multiple Emails and Communication: We strive to provide timely and transparent communication. Our records indicate that we responded to your concerns within a reasonable time frame, and our responses were consistent with both our policy and applicable laws. While we understand this may not have aligned with your expectations, our team acted in accordance with legal guidelines and our internal policies.
5. Compliance with Consumer Protection Laws: LendingUSA fully complies with federal regulations governing consumer protection and fair trade practices. We appreciate your willingness to return the property, but given that the funds had already been disbursed and the contractual terms agreed to, we were not able to cancel the loan at that stage. The agreement you signed, including the checkbox acknowledging the terms, is legally binding and confirms your understanding of the loan terms, including those related to disbursement.
We value your business and always aim to resolve matters amicably. If you have any further questions or need additional clarification, please feel free to reach out. Our goal is to ensure transparency and fairness in all transactions.
LI
Lionel
Great experience!
I’m still in the beginning process but my experience with this lender has been very pleasant so far. The reps are friendly and responsive and I get answers to all of my questions. I have already recommended this lender to some friends.
Response from LendingUSASep 16, 2024
Your review is appreciated. We're glad to hear about your great experience with us so far. Thank you for recommending us to your friends!
BS
Bre S.
Friendly Reps and Great Program
The reps are super friendly and helpful, and I've never felt more confident about my future financial freedom.
Response from LendingUSASep 6, 2024
Thank you for your review, Bre S! We are thrilled to hear that our reps were friendly and helpful, and that you feel confident about your financial future.
GB
Greg B.
Compassionate!!!
Compassionate!!!
Response from LendingUSASep 6, 2024
We're utterly delighted to hear that you found us compassionate! Thank you for your feedback.
KA
Kathleen
Highly recommend
The reps answered all my questions and didn't rush me. They treated me professionally and as experts. Would highly recommend them.
Response from LendingUSASep 6, 2024
We're absolutely thrilled to hear about your positive experience with LendingUSA. Thank you for sharing your feedback!
SU
Susanne
Relief from Financial Burden
I want to thank you for taking the time to work on getting me out of debt as quickly as possible. The terms are fair and I am on my way to becoming debt free. Your representative was very helpful and kind to the difficult situation I was in. I highly recommend Lending USA.
Response from LendingUSAAug 28, 2024
We greatly appreciate your positive feedback, Susanne. We are glad to hear that we could help you find relief from your financial burden. Thank you for choosing LendingUSA.
RN
Rene N.
The staff was great they helped alot…
The staff was great they helped alot they went through everything i needed to know explained everything had call backs had feedbacks as well i was very pleased with the staff and would recommend thank you all for everything
Response from LendingUSAAug 19, 2024
We're pleased to hear that our staff was able to assist you and provide the information you needed. Thank you for sharing your experience with us!
