ComplaintsforNationwide Loan Consultants

• Initial Complaint

  07/19/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I called a company regarding a loan. My call with them was short the first time, then someone else contacted me to have me sign a document that he stated was just so they can check what loans I qualify for based on credit basically. The document was signed and he never provided me a copy of the document. Then shortly *************************** contacted me with vendors of companies that had offered me loans before I contacted Nationwide Loans. It was really nothing new but he stated that I could get a loan through SOFI which is a company that contacts me all the time about loans. He never stated I was locked in to paying Nationwide ****% for 3 months if I decided to ever apply with Sofi, which was not new to me because they are always trying to get me to obtain a loan from them before Nationwide came into the picture. So I applied for the loan and had me pay $2180.00 because I couldn't apply for any loans outside of them, the contract was never ever explained to me that I was locked in for 3 months until **** emailed me. This should be illegal the papers I had signed were only to check my credit and companies to which I had offers from already before Nationwide. This is a fraudulent process and I think it unethical practice for anyone. I paid $2180.00 cause of the paper I had signed that was suppose to be to check my credit information. This should definitely be illegal... I am really mad because I do not have $2180.00 to be giving away to no one with our economy I am sure no one does. I work hard for my money for them to something like that to me. Never disclosing I couldn't go outside to apply for loans I had already received offers from... the calls that were recorded were also only about 3-5 mins long and they never even gave me a copy of the agreement i signed till after I paid the ****%, $2180.00... I think they need a better process and explain what they are asking people to sign is not just for credit check. I am attaching the documentation provided to me after I paid.

  

  Business response

  08/01/2022

  Nationwide Loan Consultants & Advisors, LLC (Nationwide), is a ******* limited liability company. Nationwides principal address is in Palm Beach County, *******, however, Nationwide is licensed as a broker and/or lender in various states. Nationwide, in its capacity as a broker, provides research and matching services to individuals interested in obtaining a consumer loan (a loan made to an individual for personal, family, household or investment purposes). Nationwide does not make credit decisions, fund loans, service loans, or offer any other similar loan services. Furthermore, Nationwide does not and cannot issue approvals or commitments on any lenders behalf, in fact lenders will require additional information from consumers in order to complete their loan application. 
  
  Nationwide only charges a consulting and advising fee to the consumer, which means the payment of a consulting and advising fee to Nationwide from the consumer is contingent upon the consumer finding a satisfactory lender from the list generated by Nationwide, and the exchange of money between lender and consumer. The consumer makes the ultimate decision on whether to move forward with the application from a specific lender on the list provided by Nationwide, or not move forward at all. Nationwide does not charge the consumer any money up front and does not collect any money from the consumer unless the consumer successfully obtains a loan from a lender through the services provided by Nationwide.
  
  This particular consumer entered into a **************** Agreement with ********************** agreeing to pay a consulting & advising fee to Nationwide, if she accepted a loan that was facilitated by NWLC. Pursuant to the **************** Agreement, this consumer expressly authorized Nationwide to apply consumer loans and act on her behalf for that limited purpose.  More importantly, contrary to the consumer's allegations, she had an opportunity to review the **************** Agreement before signing.Moreover, there was a conversation with her to go over the lenders she had previously worked with to specifically avoid the issue she is complaining of. 
  
  

  Customer response

  08/01/2022

   
  Complaint: 17589291
  
  I am rejecting this response because the recorded calls are not here stating that they had me tied to lenders for 3 months. The lenders they provided had already sent me offers and they never provided me the first paperwork or they did not read through the entire contract. I believed that I was signing for them to provide me a list of lenders but those lenders they provided had already offered me loans too why do I have to pay $2180 for them to tell me about loans I was already aware of and tied me in for 3 months. I obtained a ****** loan and they wanted $2180 I paid them because I didnt want them taking me to court but I was never aware of the 3 month contract of lenders I already knew about and they never discussed. I need the recorded calls were they disclosed that information. 
  

  
  Sincerely,
  
  *******************

  

  Business response

  08/10/2022

  The General Manager left a message in an attempt to resolve.

• Initial Complaint

  04/23/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  4/22 this company advised me and misled me to believe how there structure works. Advised not to contact banks directly that it would hurt my chances of getting alone. wanted to set up a temporary email citing that potential spam would over run my personal email. They threatened me over the phone and text messages which I have saved. I told them my only form of communication which I am comfortable with is email, but continued to threaten via text. I had told them that I was canceling the loan request. This is a scam they lied about the true cost of My credit card debt in order to sway me into paying them ACH only at first then after I refused feeling like I was being scammed. They are threatening legal action for something that I could have easily done but was misled.

  

  Business response

  05/12/2022

  Nationwide Loan Consultants & Advisors, LLC (Nationwide), is a ******* limited liability company, doing business as Nationwide Loan Advisors. The principal address of the business is in Palm Beach County, *******.
  
  Nationwide provides research, matching, consulting and advising services to individuals interested in obtaining a consumer loan (a loan made to an individual for personal, family, household or investment purposes). Nationwide does not make credit decisions, fund loans, service loans, or offer any other similar loan services. Furthermore, Nationwide does not and cannot issue approvals or commitments on any lenders behalf, in fact lenders will require additional information from consumers in order to complete their loan application. 
  
  Nationwide only charges a consulting and advising fee to the consumer, which means the payment of a consulting and advising fee to the Company from the consumer is contingent upon the consumer finding a satisfactory lender from the list generated by Nationwide, and the exchange of money between lender and consumer. The consumer makes the ultimate decision on whether to move forward with the application from a specific lender on the list provided by Nationwide, or not move forward at all. Nationwide does not charge the consumer any money up front and does not collect any money from the consumer unless the consumer successfully obtains a loan from a lender through the services provided by Nationwide.
  
  *********************** entered into a **************** Agreement with ********************** agreeing to pay a consulting & advising fee to Nationwide. Pursuant to the **************** Agreement, **************** expressly authorized Nationwide to create an email account for the purpose of applying to consumer loans and granted the company authority to act on his behalf for that limited purpose. 
  
  Nationwide did in fact facilitate a consumer loan for ****************, which he accepted and has since been funded. However, he failed to pay the agreed upon consulting and advising fee to Nationwide pursuant to the **************** Agreement and has unreasonably refused to do so despite multiple attempts.

• Initial Complaint

  03/24/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I was transferred to Nationwide Loan Consultants on 3/23/2022 by ******* ******** from Rescue One Financial, which I believe to be a scam in that she transfers people there just to make money from a referral. Once transferred to Nationwide, I explained to their representative that I was driving and couldn't handle his call. He kept on and on till I pulled over to listen to his spill. He had me to sign some sort of online form allowing him to seek out a loan for me, which I did sign under pressure from him. Before our conversation, I had already applied online for a loan with ****** ******* ***** which came back approved before I heard back from Nationwide. Now the guy at Nationwide is telling me that I will owe him money out of a loan that I applied for myself without his help because he came back with an offer from the same company. I do not want them monitoring my credit and I want them to leave me alone.I was also told that their fee would be added on above the loan value if I took out a loan through them and now he is trying to say no that it would be taken out of the loan amount..I explained to him that I was not in financial difficulty and did not have to take a loan that I was merely checking rates at this time..The scam artist I have been dealing with is ******* ******** with Nationwide Loan Consultants , Boca Raton Florida. I want him and his company to leave me alone, stop calling, and do not monitor my credit....Please help

  

  Business response

  04/05/2022

  We resolved this complaint with the client directly. 

• Initial Complaint

  02/24/2022

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I was working with national loan consultants to obtain a business loan. A loan witch I knew I would need assistance in procuring, not a loan that I was already approved for. This loan was in the amount of $85,000. After numerous calls back and forth while I was at work they said i was approved. So to my understanding I was agreeing to pay their fee with the $85,000 loan; the contract I signed while be pressured to do so with the representative on the phone. After several days of national calling me constantly while at work and while driving; to which the representative was not pleased I had to call her back due to not wanting to risk myself or others by talking on the phone and driving while it was snowing. The representative Jessica called everyday multiple times to have me upload different documents and speak with the loan companies themselves while having me not mention I was working with them.She also told me not to accept any loans if the company calls me directly with out her on the phone. I was already feeling a little uncomfortable with the situation. While the only company they attempted to reach denied the loan; she got me several other approvals witch i had already received. One of witch I currently have a loan with. Mind you they are not supposed to reach out to companies to whom you currently have a contract with. When I received a call from another loan consultant I felt like it was a scam I expressed my concerns to her and she assured me I was only entering into a contract with them due to my previous offer from their company. The amount of this loan was $26,000 a considerably smaller amount than originally agreed upon signing the contract with national. I confirmed that with the agent that I did not want to owe two companies and was concerned with fraud. After agreeing and feeling comfortable with that loan officer I agreed to submit my information to them. I did not hear from lending point for a couple of days. ***cont on letter attached****

  

  Business response

  03/11/2022

  We are resolving the complaint directly with the consumer.

  Customer response

  03/11/2022

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  Christina Silos

• Initial Complaint

  02/10/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  The Company called me and asked if I was interested in an unsecured loan to pay down my bills. I said, yes but I was not interested in any programs and/or high intereste loans. They assured me that this was neither. I was told to not accept any email offers from other companies until they contacted me again. I received multiple emails from various loan companies, denying me and/or offering me loans. I did not accept any. After a few days Nationwide called me again and gave me several options for loans. I accepted a loan that was not great but had the right number for my needs. The loan company charged me a high origination fee and I thought that was the only fee I would need to pay. However, Nationwide wants me to also pay them a ridiculous amount of money for filling out an application for me, something which I realize, I could have easily done myself. This is not a helpful company in that it does not want to help the consumer, but actually wants to make money off of someone that is already in need of fixing their finances. I am very disapopinted and feel taken advantage of. The loan I accepted is at a high interest rate with a high origination fee. Another high fee from Nationwide is unfair and should be illegal.

  

  Business response

  02/23/2022

  Nationwide Loan Consultants & Advisors, LLC (“Nationwide”), is a Florida limited liability company, doing business as Nationwide Loan Advisors. The principal address of the business is in Palm Beach County, Florida.
  
  Nationwide provides research and matching services to individuals interested in obtaining a consumer loan (a loan made to an individual for personal, family, household or investment purposes). Nationwide does not make credit decisions, fund loans, service loans, or offer any other similar loan services. Furthermore, Nationwide does not and cannot issue approvals or commitments on any lender’s behalf, in fact lenders will require additional information from consumers in order to complete their loan application. 
  
  Nationwide only charges a consulting & advising fee to the consumer, which means the payment of a consulting & advising fee to the Company from the consumer is contingent upon the consumer finding a satisfactory lender from the list generated by Nationwide, and the exchange of money between lender and consumer. However, the consumer makes the ultimate decision on whether to move forward with the application from a specific lender on the list provided by Nationwide, or not move forward at all. Nationwide does not charge the consumer any money up front and does not collect any money from the consumer unless the consumer successfully obtains a loan from a lender through the services provided by Nationwide.
  
  ****** ***** entered into a Customer Service Agreement with Nationwide agreeing to pay a consulting & advising fee to Nationwide. Nationwide did in fact facilitate a consumer loan for Ms. *****, which she accepted and has since been funded. However, she failed to paid the agreed upon consulting & advising fee to Nationwide pursuant to the Customer Service Agreement, and has unreasonably refused to do so despite multiple attempts.

  Customer response

  03/04/2022

  
  Complaint: 16752900
  
  I am rejecting this response because although Nationwide claims to help people in my situation, they really only pray on people that will have no choice but to take whatever offer they give based on necessity. This is not in any way a good choice for anyone out there looking to get out of a difficult situation. First of all they claim that they will give you the best loans out there from the best lenders and then they dangle loans that are ridiculously at high interest rates with high origination fees to boost. After the loan is accepted they hit you with their own fees for virtually doing nothing but filling out applications with your information. This is the biggest scam I have seen in a long time. Consumer beware! Refusal to pay their ridiculous fees gets you passed around to personnel that say they want to help you with a low key threatening tone of legal lawsuits and/or reports to the credit bureaus if you do not pay right away. They offer to lower their fees, but by only 1 percent and tell you how they are on your side and only want to help you. Their claims of wanting to help and being on your side are laughable and it is very disheartening to think that they are getting away with this type of service. I can only imagine how many other people are getting scammed into these type of deals.
  
  Sincerely,
  
  ****** *****

  

  Business response

  03/22/2022

  We did an internal investigation to her claims, and we have concluded that NWLC did provide the services under the contract and that is why we deny her allegations.

*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. ↩