ComplaintsforGravity Lending

• Initial Complaint

  08/22/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Gravity lending engaged in false and deceptive advertising practices. Through their partnership with Lending Tree, I submitted a request for an automobile refinance and was presented multiple pre-approved financing offers, two of which included an interest rate between 6 and 7% at a length of either 48 or ********************************** via phone and text, that offer changed materially to an offer of an interest rate of 9% at an even longer term. When I referenced the prior offers, they said they are no longer offering that kind of deal and that my current loan is upside down and they would require a down payment.

  

  Business response

  08/23/2024

  Hi ****,

  We are so sorry your experience with Gravity Lending did not meet your needs. We work hard to create a great experience for all of our customers.  ********** manager, ****, has looked into your application and may have found better options available for you.  We ask that you allow **** to go over those options with you, and to discuss our pre-approval process.  You can call **** at **************, and she can work to resolve this for you. We hope you will give us another chance to make it right.

• Initial Complaint

  08/14/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  *********************** (Senior Loan Officer) pulled a hard inquiry on my credit without my approval and possibly false advertising. I googled best refinance auto loan rates in ********** and marketwatch pulled the top 5 rates/banks. This bank was advertising 4.99% (***** loan terms with minimum credit score of 640. In addition, the site disclosure mentioned that it depend on the state and fico score. I wanted to inquire about it and filled out the necessary info without my SSN. And since this is my 1st inquiry and remember reading that they'll only do 'soft inquiry, won't share my info, and loan officer will be assigned and will ask for details/consent/authorization, I was expecting for someone to contact me. I received the application confirmation at 12:39 PST, and then received an email alert that someone did a hard pull on my credit (12Aug2024/14:27PST). And I didn't hear from *********************** until this morning. He pre-approved me for 7.99% for 84mos with my 846 Fico Score. And this person, couldn't answer why I didn't get the 4.99%, why he pulled a hard inquiry on my credit without my approval, didn't give me other options on the rates (like I'm desperate), and all he could say was "I don't know". As a Senior Officer, I expected more from his title. I requested for him to do a reversal pull and provide confirmation and timeline, and all he could say was I don't know and hung up on me. I called back and spoke to ********************* (another Supervisor from a different department) and informed him about experience with ******. I requested the same reversal info and email confirmation from ****, and all I received a couple of hrs ago from their universal email was that they didn't proceed with my loan.

  

  Business response

  08/14/2024

  Hi ********,

  Delivering exceptional customer service from all of our departments is a top priorty for us here at Gravity Lending, so we sincerely apologize for your experience with ***********************.  When you completed your application on the landing page for Gravity Lending & Bankrate, permissible purpose was selected before you completed the submission.   

  Below is the data origination information from your application:  "channel_code":"LP",  "source_code":"BANKRATE-LP",  "client_data_origination_ip":"*************",  "client_data_browser_fingerprint":"MacOS | Safari",  "applicant_pp":"true"

  We've reached out to Beneficial State Bank today and requested the hard pull on your credit to be reversed.  We have not received a response from them yet, but sales manager ********************* will be in contact with you once we have their decision to reverse the hard pull.  Please allow them at least 48 hours to respond to our request.  Do not hesitate to contact me or **** with any questions you may have.  -- ***************************** ************

   

   

  Customer response

  08/15/2024

  Complaint: 22138741
  
  I am rejecting this response because of incomplete answer. Awaiting response on why I didnt get the 4.99% & only offered the 7.99% which is way too high for CA rates. Why wasnt I given a fair rates with my impeccable credit/five score? In addition, the business stated 48 hrs of approval request for the credit pull reversal from the bank they used. Therefore, Id like to get a status/ confirmation email. Thanks, 
  
  Regards,
  
  *****************************

  

  Business response

  08/16/2024

  Hi ********, 

  Regarding the 4.99% APR, there is a disclaimer posted that reads:  *Advertised 4.99% APR based on state availability and qualifying credit criteria on a representative example of refinancing with a FICO score of 760 or higher for 36 months.  Because you do not live in the area where the 4.99% rate is offered, you were not eligible for that rate.  The 7.99% rate that was offered to you was just the first lender we sent your application to.  Had we proceeded with the refinance, we would have tried to find you a better rate.  We received a response from Beneficial State Bank, and they are not going to reverse the credit inquiry.  They offered to answer any questions you may have regarding their decision, and said you are more than welcome to reach out to them directly.  

• Initial Complaint

  08/08/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Gravity supposedly found a lender and on July 1 asked me to pay $60 for a refinance deposit for ****** ********************* ****** decided not to approve me-I would like my $60 back and I was told I would receive it but have not. I have emails I can forward regarding my request for refund.

  

  Business response

  08/08/2024

  Hi *******,

  I sincerely apologize for the delay in returning the $60 membership fee to you.  As of this morning 08/08/2024, we have refunded that fee to you.  Please keep in mind that it can take anywhere between 3-7 business days to process, but rest assured that your money is on its way.  The refund receipt is attached.  If for any reason you do not receive the refund after the 7th business day, please contact me at ************ and I will look into the matter for you.  -- *****************************

  Customer response

  08/16/2024

  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 have received the $60 refund and it has posted in my bank account. I know it is not a huge amount but I am on a fixed income. I did not want to go this way but it seemed like I was not taken serious since I decided to not refinance. 

  My complaint has been resolved.
  
  Regards,
  
  *************************

• Initial Complaint

  07/09/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Gravity lending outsourced ******************** to pull my credit resulting in an unauthorized hard inquiry on my credit report. After reading reviews here it looks like this company is known for this and is a predatory loan company who tries to pressure sell consumers on their services. I have contacted the several times and have received ZERO proof or clarification that I authorized the pulling of my credit. I will be taking this to the ***** These sort of scam business need to be stopped!

  

  Business response

  07/10/2024

  Hi ****,

  We hate that there was a misunderstanding with your application process. When the application was submitted, permissible purpose was given to submit your application for the best possible approval:
  
  "client_data_origination_ip":"47.180.133.56",
  "client_data_browser_fingerprint":"Windows | Chrome",
  "partner_loan_id":"**********",
  "applicant_pp":"true"

  There are no fees charged for our services and it appears this is the 2nd application we've received for you in recent months. The original application was received on 3/26/24 and the most recent application was submitted on 7/1/24 through another one of our partners. If you would like to hop on a call, we're happy to walk you through the entire process.

• Initial Complaint

  06/25/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I opened an application with this company. The sales person I was assigned would not respond to any of my emails or calls. Someone else finally responded and told me their new loan offer. I asked the individual to send me the offer in an email so I could review. Clearly they did not want to commit to anything in writing so they just emailed me saying that they are now closing my application and that suddenly they are denying my application. Denying it after nothing in my credit has changed, and only after I asked for a written copy. Since they are willing to pull my credit but are not willing to follow through with the offers they make I would like their credit inquiry removed.

  

  Business response

  06/25/2024

  Hi *******,

  We are so sorry your experience with Gravity Lending left you feeling stranded.  We truly work hard to create a great experience for all of our customers.  With that said, we apologize for the lack of communication from your loan officer.  We are more than willing to share with you in writing the offers that you were approved for.  We would love to earn your trust again, and help get your vehicle refinanced.  If you're willing, please reach out to our Sales Manager, ********************* at ************ and he will get you all the answers you need.  --- *****************************

• Initial Complaint

  03/11/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have tried multiple times to contact them regarding instructions needed in order to cancel my vehicle service contract after having had paid off my car loan. I cannot seem to get anyone at this business to return a call or email regarding this matter. I am due a prorated refund for the cancelation of this contract, and was told that the request must come from Gravity Lending who will not answer my inquiries!! Specifically, my multiple attempts to obtain the needed information from *********************** (including FIVE emails) have been unsuccessful.

  

  Business response

  03/12/2024

  Hi ********,

  You emailed Gravity Lending with your product cancellation request on Saturday, March 9th at 7:21 pm, which is outside of our business hours.  ****** responded to your request the following Monday when business resumed with details regarding the cancellation process, to which you acknowledged and provided the neccessary forms and information in order to cancel both GAP and VSC products.  We have already reached out to both product companies, APCO and Allied, to begin the cancellation process.  Since you refinanced your vehicle nearly two years ago, you will not receive a full refund for the vehicle service contract you purchased.  The refund will be pro-rated, minus the two years when the contract was valid.  If you'd like to discuss this further, please contact me at ************. -- *****************************

  Customer response

  03/12/2024

  Complaint: 21417692
  

  Yes. at the time ****** did respond regarding the *** cancelation ONLY. I can, and absolutely WILL provide you an email chain between ****** and I where I asked for information regarding how to cancel my VSC LITERALLY FIVE times. It was not UNTIL I filed this complaint that I finally got a response. I am WELL aware that I will not receive a full refund for the **** Perhaps take the energy you pour into your condescending attitude and train your staff more appropriately.

  Negative reviews to follow, based SOLELY on the tone your response.

  Regards,
  
  ***********************************

• Initial Complaint

  12/04/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On 11/8/2023 we were looking to refinance our auto loan. I had a few options and this company gave me a DEFINITE and asked if they could push it through to get me the approval so I could pick which payment option I wanted. I told them ahead of time I would be refinancing my house soon and that i didnt want it put through unless they were sure. They then did it anyways and told us they couldnt secure a loan now. After being blocked by the initial sales person, I reached out and a manager text me. I had to continue to chase them to not get it on my credit. They ended up having me sign a form saying I wanted it removed by st *********** Which is NOT what they had told me. They said it would be removed by them not us asking, as it still hits your credit. I lost 30 POINTS! Because they lied and scammed me. And now their resolution was to have me sign something requesting it be taken off. I am furious and have had zero help from this company. What a scam

  

  Business response

  12/05/2023

  We apologize for the miscommunication and have been able to get both hard inquiries removed by each lender (confirmation attached). Unfortunately, Gravity Lending is not able to move hard inquiries b/c we aren't the company who ran them. St *********** required something in writing for compliance reasons, which is why we typed it out and requested ******************** signature. ****'s manager has tried to speak to **************** a few times and is unable to connect through anything other than text. We also handled this situation internally with the loan ******** ***** I apologize your experience with us did not meet expectations. With both inquiries removed, we've done everything in our power to make this right. I'm happy to discuss this further over the phone if **************** would like to. 

  Customer response

  12/05/2023

  Complaint: 20953948
  
  I am rejecting this response because:
  Although you had them remove the inquiries, it will hit ****** credit 30 points.  If you removed it, that implies it not effecting our credit  it did  significantly and now we can neither refinance this car, or have appropriate credit for a home refinance we wanted to be sure we were good for. I reach out in text to this company for two reasons.  The first is that I like to have a transcript of what was said, as I was already told I was wrong by Gravity.  Then confirmed that I was correct.  The second being that I did try to contact **** by call initially  and my phone number had been blocked as soon as I questioned his definite approval.  The fix to this is a refinanced car loan  or my credit score being fixed 30 points.  Thats it.

  
  Regards,
  
  *************************

  

  Business response

  12/07/2023

  ****************, I called in a favor to St *********** and was able to get them to approve your husband. Happy to go into more detail. Please call me at your earliest convenience to try to get this taken care of.  ************

   

  *************************, VP 

• Initial Complaint

  10/24/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  I have been receiving letters from this company for almost a year now and I have never once contacted them or done business with them and I want the contact to stop immediately. The main issue aside from that that is extremely concerning to me, is that their envelopes look similar to an envelope that the *** would send you. It shows the same font as the *** letters have for the tax year and overall same appeal. The envelope also states "OVERPAYMENT NOTFICIATION: PAYMENT REDUCTION DETAILS ENCLOSED" and "TIME SENSITIVE" on the front. The fact that this is the envelope they chose to use to con consumers into opening the letter assuming that it's from the *** cannot be legal. Considering this alone, I would never do business with a company that tries to fool people this way by pretending to be the ***. At this point, I will be forwarding this complaint to the Treasury Inspector General for *******************

  

  Business response

  10/25/2022

  We have removed this consumer from all approved and authorized lists moving forward.

  Customer response

  10/26/2022

  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.
  
  Regards,
  
  *********************

• Initial Complaint

  07/29/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  used Gravity for a truck refinance.. After a grueling 3 mos of noncommunication and events not taking place on time the Refinance with finally completed on July 15..suposed to done by end of June..Ck sent to Gravity for full *** financed of $*********.. Chase Truck loan paid off of $19,076.32. I overpaid in may of ****** and due to all the issues Gravity was going to credit ****** back to me...I recently rcd overpmt refund ck from Gravity for a mere $380.73..not my overpmt or the ******..plus ck they sent had a credit of $1,301.00..so I basicly am paying ********* to new *** and Gravity kept for themselves $920.27... I want to know why they think they can take that money from me and think its ok...That is owed to me..

  

  Business response

  08/01/2022

  We are so sorry your experience with Gravity Lending left you feeling stranded. We will be in touch with you soon to provide an update. Alternatively, you may also contact a manager at **************, and we can work to resolve this for you. We hope you will give us another chance to clear up any confusion. We work hard to be helpful, so please don't hesitate to reach out.

  Customer response

  08/02/2022

  Complaint: ********
  
  
  I am rejecting this response because:already tried to speak to **** and recieved no response. I want the missing refund send to me
  
  
  Regards,***************************
  
  
  ***************************

  

  Business response

  08/03/2022

  Our Director of Sales, ***********************, has attempted to reach out and discuss this issue with you, but it seems we keep reaching your voicemail box. We will continue to try and reach you to resolve this issue as soon as possible. At your earliest convenience, please call ***** directly at ************. We truly do work hard to create a great experience for all of our customers. 

• Initial Complaint

  02/28/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Gravity Lending says that they will not do a hard inquiry on your credit. They told me that on the phone and they advertise it online. Well, I looked into getting a lower payment to see what they could come up with, but after I saw the payment was not that much lower and I would have had to drop my GAP Insurance and it would have extended the loan longer. I decided not to do it. Well lo & behold I checked my credit report and they did do a hard inquiry and it dropped my score 54 points for 25 Months! I couldn't believe it. they out and out lied! My credit score was good around 750 I am ticked off!

  

  Business response

  03/10/2022

  Hi *******. We can absolutely see your point of view, and after our call review, we would like to share our findings and see if we can help resolve this issue. Please look out for a call from us.
  Regarding your significant credit score drop, there has to be something else affecting this; the following information comes directly from the credit bureaus themselves, and I included a link for your reference.
  
  A credit pull isnt a guarantee your credit score will change. In the instances it is affected, credit inquiries have a small impact on your FICO Scores. For most people, "one additional credit inquiry will take less than five points off their FICO Scores". To learn more about how a single credit inquiry should not have a major impact on your credit score, visit https://www.myfico.com/credit-education/credit-reports/credit-checks-and-inquiries
  
  Thank you for letting us know your concern.

*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. ↩