ComplaintsforLendingPoint, LLC

• Initial Complaint

  07/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have worked with both Lending Point and *********** Solutions for a year now trying to get this resolved. This loan was taken out using an old work email address (sgvarinotheglobeacademy.net) in ****** almost a year after I left this employer of which my official separation date was 5232022(documents available up request). In addition, the addressed used to apply for this loan was *****************. ********************. *****, which also does not belong to me. I filed a police report immediately when I found out. I have provided LendingPoint, Experian and *********** Solution with evidence of identity theft fraud with no resolution. I've recently learned that Lending Point sold the debt to *********** Services in August 2023, who direct me to call the other to resolve. I have been working with Core Credit since September 2023, which they refuse to even provide me even an update until ******. I am now escalating to the *** to help resolve and maintain my AAA credit rating of 25 years.

  

  Business response

  07/11/2024

  Thank you for bringing this matter to our attention.  LendingPoint has reviewed all documentation received, including your identification received on 7/1/2024, and has concluded the loan in question is the result of identity theft.  We have submitted a request to the credit bureaus to delete the inquiry and the tradeline from your credit report; please allow the bureaus a few weeks to update their records accordingly.  We are genuinely sorry for the frustrations youve experienced and believe this resolves your concerns.  If you need further assistance, please get in touch with our U.S.-based customer success team at **************. 

• Initial Complaint

  06/27/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Our loan is setup on autopay. We've paid on-time for over three years. We only have 4 months of payments remaining. On 6/25/24 LendingPoint processed 2 payments of $564.91 causing my checking account to be overdrawn and only offered expedited refund in 3 days. I had a pending check transaction that reversed. I requested a call back from a supervisor and never received one. We only received a call back from the original rep ******** This is our first and last time using LendingPoint. The lack of urgency to rectify our issue is frustrating and unacceptable. I want others to know what happened to me before selecting their services.

  

  Business response

  07/08/2024

  Thank you for escalating your concerns.  We acknowledge that our recent transition to a new platform has caused unexpected issues and appreciate your understanding and patience.  LendingPoint completed an investigation and confirmed the duplicate payment was refunded to your bank account on file on 6/26/24.  We are genuinely sorry for the frustrations youve experienced and will continue to strive to provide an exceptional customer experience.  We believe this resolves your complaint, but your customer success representative remains on standby should you require further assistance. 

  Customer response

  07/08/2024

   
  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,
  
  **************************

• Initial Complaint

  06/27/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have a loan with Lending Point and wanted to know the amortization schedule in order to pay the loan off before the conclusion. I called in on 01/13/2023 to obtain that schedule and it was emailed to me. I wanted to ensure that I was on track and called in again on 04/10/2024 but was told that the one that was sent to me last year was not correct as "something" was wrong with their system and that he would send me another out in a few days. I questioned how could something be wrong with the system and now I am being asked to pay more money. He couldn't explain but states he would email it over to me. Now, during the lifetime of this loan, it was never communicated that there had been an issue and they've always had on-time payments from me. I am being asked pay more money in order to pay it off and deceived. I should be able to look at the chart and know how much is left and send that amount in to settle the account, but the amount keeps changing. I called on 06/25/2024 and the last rep was looking into it and was going to have a manager call me back, that still has not happened. The math isn't mathing and it appears that I am getting robbed when attempting to eliminate this bill.

  

  Business response

  07/10/2024

  Thank you for escalating your concerns.  As you know, LendingPoints loans are customer-friendly simple interest loans (similar to auto loans and mortgage loans), where interest accrues daily.   We completed an investigation, sent you an updated amortization schedule, and agreed to honor the correct payoff as of 6/24/2024, given the payoff is received by 7/15/2024.  Your customer success agent has attempted to contact you several times but has been unable to reach you.  Please contact us prior to 7/15/2024 if you would like to close your account.  We remain on standby to assist at **************.     

• Initial Complaint

  06/25/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Case File(loan): LAI ******** Lending Point claims I took a medical loan with ************, this was false and wrong. I called several times and I was asked to inquire the loan transaction with Aspen Dental. ************ said it had refunded the loan amount signed on my behalf for a dental procedure that didnt take place back to Lending Point. Unfortunately, I still receive messages and emails about unpaid loan, and my bank account was debited for interest on the refunded loan from Aspen Dental. This has caused a significant damage to my family financial situation, my psychological state and credit score and rating. I am requesting that this collection should CEASE and my account be credited back.

  

  Business response

  07/09/2024

  Thank you for escalating your concerns.  We acknowledge that our recent transition to a new platform has caused unexpected issues and appreciate your understanding and patience.  LendingPoint completed an investigation and has confirmed your loan should be paid in full.  We are in the process of making these updates; you should see this reflected in the next 7-10 days.  We are genuinely sorry for the frustrations youve experienced and believe this resolves your concerns.  If you need further assistance, please get in touch with our U.S.-based customer success team at **************. 

• Initial Complaint

  06/24/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I am not liable for this debt with LENDING POINT LLC. i do not have a contract with the collection trying to collect and report this information to my credit report. Nor have they provided the original contract as requested

  

  Business response

  06/27/2024

  Thank you for reaching out to us with your concerns.  LendingPoint completed an investigation and discovered an application received from our website on 4/11/2022, which was funded on 4/25/2022. During the application process, LendingPoint verified your name, date of birth, social security number, address, and bank account.  Six successful payments were received on the account.   The loan was charged off on 7/25/2023 and sold to *********** on 10/1/2023.  We have deleted the tradeline from your credit report, as the debt is now owed to ***********.  Please allow the bureaus a few weeks to update their records accordingly. 
  
  If you believe you have been a victim of identity theft, we will need a police report along with your government-issued identification to further investigate.  This information can be sent to *********************************. 

• Initial Complaint

  06/23/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  LendingPoint breached their contract by overcharging debiting my bank account on random days I did not agree to. After I made a complaint requested for the account to be closed Finwise/LendingPoint closed account. I could not access my account for months so I thought it was closed do to Finwise honoring my request for the account to be closed as indemnification since they debited bank account leaving me in a financial deficit on dates that were not agreed upon. The temporary relief contract advised payment for $26.69 was supposed to be for the "next 2 periodic payments" per the contract payment dates remained the same which meant on the 14th of each month so for the contract signed on 04/26/2024 the next 2 payments were supposed to be 05/14 and 06/14 for $26.69. On 06/13 Lendingpoint charged $266.91 I had to call them for 2 weeks straight before they gave my money back. I explained to them because of their breach of contract I wasn't able to buy food or pay my bills their solution was to put me on another temporary relief for their mistake. The next Temporary relief was suppose to be for 07/14 and 08/14 for $26.69 they debited the wrong amount $31.20 on 07/14 then debited my account on 07/30 and 08/09 for $26.69 LendingPoint breached the contract repeatedly. I made a payment on 12/14/23 when I went to make a payment on 01/14/2024 the website advised my account was completed. Also on my credit report Finwise showed up with a completed loan status so it seemed as if they honored my request and closed the account down. Then earlier this month on 06/07/2024 I received an email from a collection company SRS advising that I owe $11,788.99 they are contracted by another collection company ICR. I complained to ICR they advised LendingPoint charged off my account on 04/12/2024 placed the account with them. Instead of indemnifying me for errors and omissions they used fraudulent tactics to exploit my personal information including ssn, physical address on false premises.

  

  Business response

  07/08/2024

  Thank you for escalating your concerns.  LendingPoint completed an investigation, and in your signed loan agreement, you agreed to make 60 monthly payments of $266.91 beginning November 14, 2022. Bills due November 14, 2022, through March 14, 2023, were satisfied on the due date. On April 24, 2023, LendingPoint assisted you with a two-month temporary relief payment plan reducing your monthly payment to $26.69. The reduced payments due April 30, 2023, and May 30, 2023, were satisfied on the due dates. On June 15, 2023, LendingPoint completed another temporary relief payment plan, reducing your next two payments to $26.69. Your periodic payments after that would return to $266.91 per payment. The reduced bill due June 30, 2023, was satisfied on July 14, 2023, with an online payment you submitted of $31.20.  The only other payment received was in the amount of $266.91 on December 14, 2023. No payments were received after that date. After several months of nonpayment, this loan was charged off on March 20, 2024, and subsequently sold to ICR on May 31, 2024.  We have deleted the tradeline from your credit report, as the debt is now owed to ICR. 

  Customer response

  07/08/2024

   
  Complaint: 21890487
  
  I am rejecting this response because: Lending Point breached their contract with me by charging me for days not agreed upon. The payment dates were supposed to be for the 14th instead they charged me on different days and took out a full payment when the temporary payment agreement was in effect then lied about it and said I requested a refund. No they took out an unscheduled amount and it took them 2 weeks to refund my money that was supposed to never come out. Then when they noticed that they did me wrong they made it were I couldnt pay anymore and the online account looked like my loan was satisfied in January after my payment in December. Then they did a charge off and sold my account all because they breached the contract noticed the error and tried to cover it up. But if you look at the temporary agreements and the times and amounts they took from my bank account you will notice the error they just want to lie instead of telling the truth and it has messed up my credit. 
  
  Sincerely,
  
  ***************************

  

  Business response

  07/15/2024

  We are sorry to hear of your continued frustrations. As LendingPoint has deleted this tradeline from your credit report, any requests regarding that account should be directed to ICR, your new servicer. 

  Customer response

  07/15/2024

   
  Complaint: 21890487
  
  I am rejecting this response because: Lendingpoint illegally sold my information to another creditor after they breached the contract. A 5th grader would be able to see that they did not honor the language in the temporary contracts. The dates due should not have changed which meant that the dates where supposed to be on the 14th of each month for 2 consecutive payments for $26.69 but they took out money on random days and even took a full payment. Then when I complained they closed my account making it to where I could not pay because they noticed their error and sold the account. This is wrong and they need to be investigated.
  
  Sincerely,
  
  ***************************

• Initial Complaint

  06/20/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  They have not reported my payments to the credit bureaus since November 2023

  

  Business response

  06/27/2024

  Thank you for letting us know of your frustrations.  Updated account information has been sent to the credit bureaus; please allow them a few weeks to update their records accordingly.  We believe this resolves your complaint but remain on standby if you need further assistance.  Thank you for being the best part of LendingPoint. 

• Initial Complaint

  06/17/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Im am not liable for this debt with LENDINGPOINT LLC. I do not have a contract with CREDIT CORP. They did not provide me with the original contract as requested.

  

  Business response

  06/27/2024

  Thank you for reaching out to us with your concerns.  LendingPoint completed an investigation and discovered an application received from our partner Crowdnetic on 11/24/2021, which was funded on 12/1/2021. During the application process, LendingPoint verified your name, date of birth, social security number, address, bank account, and payroll information.  Four payments were received on the account; no additional payments were received after 4/11/2022.   The loan was charged off on 10/29/2022 and sold to *********** on 11/10/2022.  We have deleted the tradeline from your credit report, as the debt is now owed to ***********.  Please allow the bureaus a few weeks to update their records accordingly. 

  If you believe you have been a victim of identity theft, we will need a police report along with your government-issued identification to further investigate.  This information can be sent to *********************************. 

• Initial Complaint

  06/15/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On Saturday June 15th I attempted to access Lending Point website to make an online payment. I was unable to do so apparently due to the website not loading all the way. This has been an "off again-on again" issue over the past 18 months and time and time again this keeps happening. Additionally, it was suspected there was a time whereby their entire system was hacked but the organization failed to exercise full disclosure as to what had exactly happened during that episode (they claimed they were "conducting a 'top-down' restructuring of the website and the technical difficulties were taking longer to resolve"). It's also apparent the organization is directing their customer service representatives to exercise significant ambiguity/vagueness the continuing technical issues presented here. My greatest concern is I'll have a scheduled payment (or attempt to place a payment) and it will not register due to "ongoing technical issues."

  

  Business response

  06/27/2024

  Thank you for escalating your concerns.  We acknowledge that our recent transition to a new platform has caused unexpected issues and appreciate your understanding and patience.  LendingPoint can verify that your personal information has not been compromised, and we continue to work tirelessly to provide the service levels expected on behalf of our customers.  Most recently on June 15, 2024, our system suffered a brief outage, which was resolved the same day.  Your customer success representative has reached out to you and remains on standby if you have further questions.  We are genuinely sorry for the frustrations youve experienced and strive to meet your expectations in the future. 

• Initial Complaint

  06/13/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  Hello. I regularly check my LendingPoint account to ensure that my payments have cleared with no issues. I have made extra payments toward principal each month as well. I made a payment of $50 on March 16, 2024 to apply to principal. They applied it to interest. When I noticed this, I reached out to them and they "opened a case". About a week went by, and I noticed that it still hadn't changed. I was told that an update would be provided once the transaction was reversed. On Monday, June 10, 2024, I called LendingPoint again to get an answer regarding the payment of $50 on March 16. I noticed that now my account shows that it's 28 days past due. I explained to the manager that I spoke with that couldn't be possible. The funds are auto-drafted from my account. She stated that the error was from a March 18 payment. On their website, it shows a payment of $292.62 on 3/16 with $0 applied to interest or principal. There's another payment on 3/18 for $292.62 with $101.48 applied to principal and $191.14 applied to interest. For some reason, this was reversed. This is why my account shows as past due. The manager asked me to send confirmation that $292.62 was debited from my bank account on 3/18. I sent a screenshot of the amount debited to their email address. She said it would take 5 days for this to be updated, but I don't trust that. I simply want these funds to be applied correctly so that my account is current. I also noticed that they haven't reported to credit agencies since December 19, 2023. My ask - please correct the $50 payment on 3/16 to apply to principal, not interest; please apply the $292.62 payment on 3/16 correctly so my account reflects as current; please report my on-time payment to credit agencies for the last 6 months as I have never been late. I had a loan with them before and didn't have these issues. I paid the loan off 6 months early. But, the way they're operating now is frustrating. Thanks for your time.

  

  Business response

  06/27/2024

  Thank you for reaching out with your concerns.  LendingPoint completed an investigation and is in the process of updating the application of your 3/16/24 payment to be applied fully to principal.  Your customer success representative will continue to stay in contact regarding this correction.  In addition, updated information has been sent to the credit bureaus; please allow them a few weeks to update their records accordingly.  We realize this has not been a great customer experience and have taken this opportunity to review our internal processes and remind our team of our high-level service expectations.  Thank you for being the best part of LendingPoint, and we remain on standby to assist. 

  Customer response

  06/28/2024

   
  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.  I will continue to monitor my account to see if all corrections were made.
  
  Sincerely,
  
  *******' *****

*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. ↩