ComplaintsforTriPoint Lending

• Initial Complaint

  08/28/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  They send a notice proclaiming I am prequalified for a consolidation loan. Only to later be told they can work with some 3rd party to help me get my interest rates on my cards lowered and out of debt sooner. I do not need that sort of help, I can do all that on my own. I use some of my cards for the purpose of points and then pay them off each month. Not all of them, but about 1/3 of them. If I need to reduce my rates, I can do that on my own. This is a total scam.

  

  Business response

  09/07/2023

  Hi *****,

  
  Thank you for your feedback - and my apologies that you had a negative experience.  Tripoint Lending is a Licensed Finance Lender that also works with other lenders to help find you the best possible loan or financial solution for your current situation.  Loans must go through an underwriting process and are dependent on several factors, including income, employment and credit.  At times, during tough market conditions or rising interest rate climates, consumers may not qualify for a loan that makes sense rate or payment wise.  It seems you are not looking for any other options.  We wish you the best of luck moving forward.  Please let us know if there's anything else we can help with.

  Tripoint Lending Family

• Initial Complaint

  08/19/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Date of Transaction:8/18/2023 Nature of transaction: False advertisement, and subjecting me to a debt consolidation company purporting I am dealing with a personal loan company, I had given all my credit information, that company pulled my credit before I realized that company was a debt consolidating company.I received request letter from the company which suggested I have been pre-selected for a lexible personal loan of $20,250 with a rate upto ****%. I called the company. Company took my application and said I was approved by a company called affirmative financial solutions. I had given all my credit information, that company pulled my credit before I realized that company was a debt consolidating company. I did not want to pursue debt consolidation that is what not I got myself engaged. I do not know how that company will use my credit information now.This was intentional on Tripoint's part knowing they were deceiving from the beginning when they sent the letter to me.Thanks.

  

  Business response

  09/07/2023

  Hi *****,

  Thank you for your feedback - and my apologies that you had a negative experience.  Tripoint Lending is a Licensed Finance Lender (not a debt company) that also works with other lenders to help find you the best possible loan or financial solution for your current situation.  Tripoint enrolls millions in loan fundings each month.  All marketing material discloses the starting rate (it should not say "Up To").  If you received something different, please send a screenshot of the entire mailer (front and back) so we can have our legal team look into and respond accordingly. It is very important that customers are not misled in any way.  Additionally, Tripoint is the only company that pulled your credit and keeps it secured. Any lender looking to qualify you for a loan will need to go through this process to see what you qualify for.  All loans must go through an underwriting process and are dependent on several factors, including income, employment and credit.  At times, during tough market conditions or rising interest rate climates, consumers may not qualify for a loan that makes sense rate or payment wise.  In cases like this, we may provide other third-party solutions.  This is completely optional for you. In many cases, these options make sense for clients.  And in some cases, they would like to stay where they're at.  If a client chooses to entertain another option outside of a loan, there may be certain requirements or underwriting conditions from the third-party. 

  I hope this all makes sense.  Again, we appreciate the feedback and apologize that you thought this was something else, but rest assured Tripoint is a Finance Lender.  If you'd like, we can also add you to our "Do Not Mail" list.  Please let us know if there's anything else we can help with.  

  
  Tripoint Lending Family

• Initial Complaint

  07/21/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I just provided personal information to this company per the notice sent to me. They claim to have texted my phone and emailed me BUT I haven't received either and fear I have given my information to a scam artist.

  

  Business response

  08/04/2023

  Hi ********,

  Rest assured this is not a scam.  We are a duly licensed CA Finance Lender.  Apologies for your negative experience and for us not getting back to you.  I will look up your info and request someone give you a call.  We look forward to serving you.

  Tripoint Family!

  Customer response

  08/07/2023

  The response was very canned. They say they are licensed but provided no information to confirm that. I'd like them to remove me from their mailing list, discard my personal information and provide prospective "other" customers with a more professional attitude. To this date, I have still no received a text or email from this company and they were provided correct information.

  Thank you.

  

  Business response

  08/14/2023

  Hi ********,

  Apologies we have yet to resolve this.  Our office has responded to you by email.  Please take a look and let us know if this is acceptable.  If not, we can also have someone give you a call.  Hope the message makes you feel better and sorry for the inconvenience.

  Thank you

  Tripoint Family

• Initial Complaint

  06/18/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I received a mailing from Tripoint. Called them for a consolidation loan. Was having issue with running my credit through Transunion. Was told for weeks that my credit report was frozen. Called Transunion several times. NO frozen Transunion credit report. Also my Experian nor Equifax were frozen at the time I requested the loan. Also, if I had a freeze, I would have received a notification that Tripoint attempted to access my credit report and they blocked it. Nothing like that happened. They blatantly lied to me and then became rude. All they had to do was tell me that they couldn't help me with a loan, but they strung me along for weeks with no help whereas I could have spend my time with a true bank that could have potentially helped me.

  

  Business response

  07/19/2023

  We apologize for the negative experience. We will look into what happened and will make sure to place you on the "Do Not Contact" list.  Please let us know if there's anything else we can help with.

  Tripoint Family

  Customer response

  07/19/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  *************************
  
   
  

• Initial Complaint

  06/14/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I keep getting these check like pieces of mail. After I called a few months ago the person said they would remove me from the mailing list. I called the number ************ which is to opt out of prescribed offer but it wants my ssn which doesnt make any sense. I want the mail to stop and I highly doubt they need a ssn to stop sending junk mail.

  

  Business response

  07/19/2023

  Hi *****,

  I will make sure to take you off of the mail list.  Please allow a 3 weeks for processing as the mail house is usually weeks ahead.  Apologies for the inconvenience.

  Tripoint Family

• Initial Complaint

  04/17/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I contacted TriPoint Lending on 04/17/2023 about a loan offer they made me. I am enclosing a picture of the interest rate and flexible personal loan. I spoke with a ****************************************). The offer was for a flexible loan of-up to $27,000 with a rate up to ****%. after ***** took my information he emailed me information about different lenders and their rates. Every rate was at 25% or higher. This is predatory lending and FRAUD.

  

  Business response

  07/19/2023

  Hi ******,
  We apologize that you had a negative experience.  Loan approval is always contingent on underwriting approval based on several factors, including but not limited to credit, employment, income, debt/income ratio, etc. Every lender is different.  As a licensed lender, we also work with other lenders in making sure we can get you the best possible loan.  We are very sorry you were unable to get the loan that you wanted.  We have also forwarded your feedback to legal to review our advertisements guidelines.  Currently rates are advertised "as low as ****% to *****% and dependent on lender underwriting approval.  Apologies again for a bad experience and thank you for your feedback.

  The Tripoint Family

• Initial Complaint

  03/07/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I responded to a letter received from TriPoint Lending stating I was preapproved for up to $30k loan. Ultimately they ran my credit on false pretenses because there was NEVER a loan to be had. They are bill collectors. They told me I could get the funds I needed but that they don't do loans. Instead they negotiate better terms on existing loans. All I have to do is stop paying on the loan and send the payments to them instead. Then they would negotiate with the original lender to reduce the balance and lower my payment, in the mean time they are collecting payments from me which they will hold in escrow until the original lender turns me in for collections. THEN they will make the negotiations. Their response to me asking why I would ruin my credit like that was, well it's only one loan. But its MY CREDIT. Now I have a ding on my credit report that could make it harder for me to get a real debt consolidation loan. They ran my credit report on false pretenses and I have no idea what they will do with my personal information.

  

  Business response

  07/19/2023

  Hi *******,

  We're sorry you had a negative experience.  Rest assured we are not bill collectors.  We are a duly licensed ********** Finance Lender who partners with many other lenders to find you the best possible solutions.  Additionally, your credit would not have been affected, as we only run "soft credit pulls" when trying to see what type of loan you qualify for. Lastly, we have added you to the do not mail/contact list, so you should not hear from us again.  Again, apologies you had a bad experience, and your feedback is appreciated.

  Tripoint Family!

  Customer response

  07/19/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved. I would also like to recommend you retrain your representatives that they should NEVER advise a potential client to default on existing loans that are still in good standing, just so that you can negotiate a settlement to resolve the debt, which would undoubtedly ruin someone's credit.
  
  Regards,
  
  ***************************
  
   
  

• Initial Complaint

  01/25/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I was misled by flyer and person i spoke over phone. I had the understanding i was applying to ONLY tripoint lending and not having my information sent to 25 other businesses. ****** became rude when i objected to that saying i was on recording.

  

  Business response

  02/17/2023

  Hi *****,

  We are not a lender, but a broker that works with several other companies to find a product that best meets the needs of our clients. We have reviewed the call in which you interacted with an agent of ours and found that the agent did disclose to you that your information would be shared within our affiliated network. This is required to see what options are available to you. You had consented to this information when you took the action to submit the information by first checking 4 boxes and then clicking the button labeled "Get my rate." 
  
  Thank you for your understanding.

  Customer response

  02/17/2023

  Deceptive practices. I was under the impression Tri point lending was the lender and representative got combative when I objected 

• Initial Complaint

  10/20/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Business sent many written offers for a loan. Once you call them they still verbally discuss getting a loan with a lower interest rate. They say they are going to do a soft credit check. Well they do a hard credit check. Which is illegal. then they have you spend 12 minutes on hold while they determine your loan amount and rate. They have you go to their web link and it has a button that says "check your rate". The button sends you another email. The web page does nothing, hiding the fact that you do not get a loan rate.After going back to the email they direct you to go to, while your still on the phone with the agent that is guiding you through this process, you see the amount of your debt and the agent walks you through the fact that you get a lower payment for 48 Months and they have you sign the documents.I signed everything they directed me to until the final signature.I remembered that I didnt see the interest rate. I incorrectly assumed that the interest rate must have been lower because the payment was so low for the amount of debt they were consolidating for **** asked the agent what the rate was and he then said the interest rate was 0%. I asked him why that was.He said the product they were offering was a debt consolidation not a loan.I kept asking him to clarify and I realized that they were doing the debt consolidation program where they contact your creditors and tell them you cant pay your bills and offer a smaller amount to satisfy the debt. This is a severe damage to your credit score.During the call the agent asked wether I was behind on my bills due to Lower bills or higher expenses. They even asked how much extra money i had each month. I told him I have easily 500 a month in spending money. Discretionary income.They still wanted to offer this service that they were going to make money on and ILLEGALLY tell my creditors that I could not afford to pay my debts.This needs to be stopped. They are deceiving people.

  

  Business response

  10/27/2022

  Hi *****************************,

   

  Tripoint Lending performs a soft credit check to initially assess your financial situation. After you submit your information to our lending portal, should you choose to proceed with any of the loan offers provided, those lenders will perform a hard credit check with your authorization.

  Tripoint Lending is a brokerage service which connects clients with the best financial option for them. We offer clients all choices available to them and allow them to decide which to move forward with.

  As you have decided not to move forward with any of our services at this time we thank you for your inquiry. We will also add you to our do-not-contact list as requested.

  Good luck on your future endeavors. 

• Initial Complaint

  08/24/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  TriPoint lenders send me out notices that I have been pre-approved for a certain amount when I call them up gave them all my information they said I was approved so when I put in all my bank information social security number date of birth when I get to the end of it then it tells me I was declined after saying I was approved for the amount that I asked for the woman that was handling the case got off the phone I tried to reach out to her but she did not reply back unprofessional I don't know if I was just scan by giving up all my personal identification. I need to know if the company is a legit company.

  

  Business response

  09/13/2022

  Hi *************************,
  
  We want to apologize for any misunderstandings you may have had regarding our mailer. 
  
  Firstly, our mailers do not state pre-approval. They state that you are pre-qualified for options from companies we work with. Pre-qualification is not the same as pre-approval. Once a client calls in, we have the client submit a credit check and we use that information to pair you with one of our partner's products. Unfortunately, not all clients qualify for the lending options available. We do however offer alternative products for clients that do not qualify for a consolidation loan. 
  
  We want to ensure you that your personal information is safe and secure. Regarding your attempted phone call, we will be sure to look into the calls to determine any wrong-doings. We want to assure you that we strive for the utmost professional customer service and will take action if necessary. 
  
  Thank you for your feedback. If you do wish to reconnect with our company, please feel free to call in and request a manager. 
  
  We wish the best in your future endeavors. 

*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. ↩