Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:01/28/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Spoke with New Capital Financial about getting a loan. They took my social and everything over the phone. The *** ****** I was talking to was extremely belittling. I couldnt even finish the application process because he kept going on pretty much calling me scum. I called to speak to the manager to hopefully find someone better to work with but as soon as someone answered as a regular person, I asked for the manager. He stated he was the complaint manager. Suprising ?? He was a complete Smartass to me, talking down to me. Then I said something to the effect of how could I work with someone like you meaning someone who talks to me this way! He proceeds to call me racist! I was shocked and asked him how would I even know what race he was !? Crazy! I would like to make sure a hard pull was not done on my credit I did not approve. I only approved a soft pull before i could no longer go on with the conversation due to the rudeness I received from this company. They are not professional at all. I did not approve a hard pull on my credit! They should not be in business. They are truly scam artist. They advertise to give you a personal loan no they want to ruin your credit by telling you to stop paying all of your bills, destroy your credit, and then them drastically lower that debt. They pay them and you still pay the full amount to these scam artists even though they talk your debt down after you fail to pay and about get sued. Crazy! On top of very very unprofessional staff!! A very poorly ran business if you ask me. Please, request the phone calls. Both of them. 1/28/2025 to ****** at 1813 & the second to the so called complaint manager same date at 1831. This company should be ashamed. I was SO EXCITED to work with them. I would never recommend them to a soul.

  

  Business Response

  Date: 02/17/2025

  Thank you for reaching out and sharing your concerns regarding your experience with New Capital Financial. We take all feedback seriously and are committed to providing a professional and respectful experience for every customer.
  First and foremost, we sincerely apologize if any interactions with our team made you feel belittled or uncomfortable. That is not the experience we strive to provide. We are currently reviewing the matter  with our compliance manager to fully understand what transpired.
  Regarding your credit inquiry, we want to assure you that we strictly follow compliance guidelines when obtaining credit reports. We will investigate this matter and provide a detailed response

• Initial Complaint

  Date:06/25/2024

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The company authorized a third party to do a hard pull on my CBR without consent.

  

  Business Response

  Date: 10/17/2024

  We do not authorize any third parties to conduct credit pulls on behalf of our clients. Could you kindly provide more details regarding the situation so we can investigate it thoroughly? We're committed to resolving this for you promptly.

• Initial Complaint

  Date:09/27/2023

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  False advertisement of a large consolidation loan with a low interest rate. Doesnt tell you that they dont affiliate with some banks/ financial institutions. The interest rate says up to 6.95%, which means the interest rate wont exceed this but this is a complete lie!

  

  Business Response

  Date: 08/05/2024

  Thank you for sharing your recent experience with us. We appreciate your feedback and value your perspective as it helps us improve our services. We apologize for any confusion you may have experienced during the loan application process. We understand that the information you received may have led to some misunderstandings about our loan offerings, and for that, we are truly sorry. Our goal is to help clients obtain financing for a wide range of purposes, especially at a time when traditional lenders are tightening criteria and declining more applicants. We offer a variety of products tailored to meet each borrower's unique needs, and we strive to connect you with lending options that address your financial goals. Transparency is very important to us, and we aim to provide clear and comprehensive information throughout the entire process. Personal loan offers provided through our advertisements feature a wide range of APRs. Your actual rate depends on factors such as credit score, loan amount, loan term, credit usage, and history. Eligibility is not guaranteed and requires that you meet credit and other conditions. We believe in your financial goals and will do everything we can to connect you with suitable lending options. Thank you again for your feedback, and please feel free to reach out if you have any further questions or concerns.

  New Capital Financial Client Success Team

  Customer Answer

  Date: 08/05/2024

  This is a general, automated response that doesnt address my specific needs. 
  

  

  Business Response

  Date: 08/06/2024

  New Capital Financial offers loans at rates from 6.49% to *****%. Pre-qualified loan offers are sent to consumers with a range of selected criteria. The criteria may qualify them for loans ranging from 6.49% to *****%. Based on the selections, we sent you a pre-qualified offer at "up to 6.95%." However, many other factors go into the approval process. Unfortunately, you did not qualify. If you would like, we can run you through our approval process again and see what current offers are available. Pre-qualified or even pre-approved for a personal loan doesn't guarantee approval. It is more of an invitation to apply.

• Initial Complaint

  Date:07/19/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This entire program is a bait and switch scam. It was grossly misrepresented to me as a debt reconsolidation loan, however it takes the company 3 to 6 months to acquire your accounts, and in those three to six months you still have to make payments to the original creditor and New Capital financials lending partner. If you don't make payments to the original creditors you risk non-payment remarks to all three credit bureaus. ******************* group, which are explained as lawyers, at the beginning of the phone call say they are not attorneys or associated with attorneys. The representatives at New Capital financial basically coach you to tell potentially incorrect information to their QA department so that way you receive an "approval". Once ******************* group explained it to me more, I understood that new Capital financial has completely lied to me and is lying to all their potential customers because it is not a debt consolidation loan. This is false advertising as the word consolidation shows up over five times in the mailer that was sent to me. My account has already been closed and please make sure there are no negative credit impacts from this cancellation. Please stop sending these letters out as they are fraudulent and misleading! Thank you.

  

  Business Response

  Date: 08/21/2023

  Dear ****, Thank you for sharing your recent experience with us. We appreciate your feedback and value your perspective as it helps us improve our services. We apologize for any confusion you may have experienced during the loan application process. We understand that the letter you received may have led to some misunderstanding about our loan offerings, and for that, we are sorry. With an array of products that can be tailored to each borrowers needs, there is a solution. Our intentions are to help clients obtain financing for a wide range of purposes at a time when traditional lenders are tightening criteria and declining more and more applicants. We believe in your financial goals, and will do all we can to connect you with lending options that address your financial needs
  We take transparency very seriously and aim to provide our clients with clear and comprehensive information throughout the entire process. At New Capital Financial, we strive to maintain open and transparent communication with our clients at all stages of our services. We will take your feedback seriously and review our processes to ensure that such miscommunications do not happen in the future. If there is anything we can do, please do not hesitate to reach out.

  Sincerely,

  .New Capital Client Success Team

• Initial Complaint

  Date:04/12/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I received information from New Capital Financial stating that I would be able to do a debt consolidation loan for $20,000-$25,000 for up to 6.7% interest. I called on 4/12/23 where "*******" gathered my information and submitted this information to multiple lenders. I explained that I wanted a lower interest rate than what I had on a previous loan, which was 20%. Once my credit score (690) was processed and information submitted I was given a list of companies that had a significant lower amount that I needed (e.g. $16,000 less). When I questioned the offers and letter I received I was told that those offers were reserved for people with higher credit scores. I questioned the interest rate on the letter and the interest rate I was being presented with, which was 27%. I was told that the letter I received was just for "marketing." While the letter is a marketing ploy, it also provides false information and promises of consolidating debt.

  

  Business Response

  Date: 04/18/2023

  Dear valued customer,
  

  We appreciate your feedback regarding your recent experience with New Capital Financial. We understand that the offers you received from lenders were not in line with the information you were initially provided, and we apologize for any confusion or frustration this may have caused.
  

  We work with a network of lenders to provide loan options to our customers. Each lender may have their own terms and conditions, including interest rates, loan amounts, and credit score requirements. We do not control the specific terms offered by each individual lender, and the offers you received may have been determined by the lenders based on their own criteria and assessment of your creditworthiness.
  We apologize for any miscommunication or discrepancy between the information you were provided initially and the offers you received from lenders. We will take steps to ensure that our communication is clear and transparent in the future, and that any marketing materials or information provided accurately reflects the terms and conditions of the loan options available.

  
  We value your business and want to ensure your satisfaction as our valued customer. We encourage you to contact our customer service team directly to discuss your concerns further and work towards a resolution that meets your expectations.
  Thank you for bringing this matter to our attention, and we apologize for any inconvenience this may have caused. We remain committed to providing excellent service and addressing any concerns you may have.

  Team New Capital Financial