Consumer complaint received 2018-08-05
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Getting the loan — 
Company: Harpeth Financial Services, LLC (CA)

I found this co. online. I called to ask questions about the CA Flex Loan prior to applying. I asked enough questions to give me a comfort level with applying with them. The original rep told me to go for it & assured me they were fair & their process wasn't necessarily credit based. A little odd but intriguing. So I did apply on XXXX. As soon as I hit the button to submit I was declined in 2-5 seconds! I was horrified because the message on the screen said " after careful consideration '' they declined my app. Careful consideration??? It took around 5 seconds! That's not considerable! I called & requested a call back per the online message. The rep I spoke to said he didn't understand that either. He said the numbers looked good & to go online & submit the required docs. I tried today, the system repeated I was declined. The weird thing is I got back to back emails : 1 said submit my docs, the last 1 said you're declined! He thought that was odd too. When I tried again this AM I wasn't able to do it. I called again & spoke to a rep. She sent me a bank verification email but came back on the line & said that they couldn't approve me. No reason given, I asked several times " why ''? No reason was given. She transferred me to cust. svc. I spoke to XXXX. She said the reason I was declined is because the system didn't receive the required docs to approve me & would automatically decline me. I was never asked to provide any docs during the course of the 5-7 mins. it took to complete the online app! She told me how to submit the docs & asked that I give the underwriters time to do the verification process. I did but heard nothing back, not even that I was approved or declined. I called at XXXX XXXX PST & requested a call back. The caller said they declined me again! I didn't get an email stating that so I wasted an entire day today waiting for them to reconsider based on my submission of the info and giving them access to verify my bank info & sending my ID over the internet to them, to have them tell me again, I'm declined but no reason was given. So I decided to file this complaint. They seem to have good reviews. I did see 1 that mentioned pretty much what I'm saying. They got 1 star for that. They get the same from me. Their people are very nice & polite. That's a plus. However, their approval process is totally wacky & doesn't make 1 drop of sense when no one can explain " why '' it does what it does. Hard money lenders are just unbelievable! How are they able to stay in business? Not just this co. but every hard money lender out there that has these horrible systems, declines people but doesn't say why, no one knows why anything happens, half the time you don't get Reg B letters & you have no idea how secure your info is with them! What in the world is going on out there in Credit Land USA???? These creditors are just going crazy with their ridiculous policies &  requirements! I work in the credit business. I just don't qualify for traditional loans. The people in the hard money side of this business really don't understand credit or what should be disclosed or not. Now their decline message tells you to call them to discuss. You do & you're just wasting your time. I told the last lady before I hung up that I was going to file formal complaints. This needs to be addressed! If these hard money lenders want to lend at 100-450 % interest rates on $ 300- {$5000.00} unsecured money then they need to obey Fair Credit Act laws just like traditional lenders do. This is just too much. I am angered that I wasted an entire day on them giving me hope that I would be approved. They're just liars is all. Typical hard money lender 's attitude. Plain rude & deceitful in my opinion! I could've done something else other than keeping my phone close by so as not to miss their call. I wouldn't recommend or do business with them now or ever.