Consumer complaint received 2016-03-11
Product: Consumer Loan — Installment loan
Issue: Shopping for a loan or lease — 
Company: TMX Finance LLC (WA)

I applied for a personal loan at one loan place.com I was contacted by XXXX lenders. The first two denied me credit. The third one contacted me by phone, had all my information from this website. They instantly issued me approval for double what I was looking for. Initially they wanted me to pay back the loan in 7 months resulting in higher payment. I wanted lower payment or 36 month term. Their response was is n't your left over income x. You can afford higher payment, right? This was email from them This is to inform you that the loan application has been approved for a loan amount of {$4000.00} at flat 12 % interest rate with flexible repayment options Loan Amount : {$4000.00} Interest Rate : 12 % Loan Term : 2 years Monthly Installment : {$180.00} Total Payback : {$4500.00} Security Deposit : {$0.00} Loan Processing Fee : $ XXXX If you wish to proceed further and take this loan today itself then please read the quotations mentioned in this email and then call our loan officer for standard verification procedure at ( XXXX ) XXXX and follow the verification protocols explained by our loan officer. 



Please note that this is a preapproved unsecured personal loan on lower interest rates offered only to selected applicants WITHOUT CONSIDERING THEIR PRESENT CREDIT SCORES. 



Please Note : - 1.PLEASE DO NOT SHARE YOUR CREDIT / DEBIT CARD DETAILS WITH ANYONE. 
2.PLEASE BE READY WITH THE REQUIRED DOCUMENTATION ( PHOTO IDENTIFICATION PROOF AND CURRENT ADDRESS PROOF ) AS DISCUSSED WITH YOUR ADVISOR. 
3.ORIGINAL AGREEMENT PERSONALIZED FOR YOU WILL BE SENT TO YOU AFTER THE FINAL TRANSACTION IS DONE. 



REMEMBER YOU DO N'T NEED TO PAY ANYTHING IN ORDER TO TAKE THIS LOAN NOTE : LOAN APPROVAL CODE mentioned in this email is highly confidential ; therefore you are advised not to share it with anyone apart from our loan officer available only on ( XXXX ) XXXX. 





Thank you, Have a Blessed Day Instaloans Express XXXX XXXX Tel : ( XXXX ) XXXX ( ext. XXXX ) I was then told I needed to get gift card to prove I can make monthly payments. All they needed was receipt. Here is their email response when I asked if she could email her requirements. she had to get manager approval This is to bring your kind notice that your loan application has been approved now. As you know your credit score is not that good therefore we just have to ansure your lender that however your credit score is poor but still you are capable enough to pay your monthly payment on time. For this you just have to reserved your first monthly payment in the form of gift card and send us the receipt of that gift card as a proof that you bought card and reloaded your first monthly payment. As soon as we received your email then within next 30 mins you will get your funds in your account. 





Thanks, XXXX XXXX Manager - Accounts Department XXXX XXXX XXXX conversation with XXXX XXXX she told me her company was in XXXX XXXX, then she gave me another website in XXXX. You could tell XXXX not her first language, hard to understand at times. I did give them my bank account information and copy of my drivers license which now I am worried about. Probably good my credit is poor right now.