Consumer complaint received 2025-02-12 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Nationwide Loan Consultants and Advisors, LLC
State: TN

Complaint narrative:
I applied for a personal loan with both XXXX  XXXX  and XXXX XXXX. Another company called me me, Nationwide Loan Consultants, saying they were the broker. They had my info for the previous application at XXXX  XXXX  or XXXX, so I trusted them. The person told me he was verifying what I had told the other lender and that he was running my credit, and I needed to agree to that. We were on the phone together, and he asked me to sign the credit check and for him them to look for a loan, which I did while on the phone talking to him. I received a call today, and I was told they would charge 10 % fee to find a loan- I wasn't told this the day before when I signed for a credit check. I had already secured a loan a few days before, and I was only shopping to see if I could get a better rate. I felt this was fishy, and I told him that I wasnt interested and to cancel, and then he told me that I signed a contract. I told him I didn't realize I signed a contact yesterday, and I was canceling it immediately. He transferred me to another person who tried to get me to do it, and I said no again. I received an email with the language below. I thought I was doing a credit check - not this crazy stuff!!! I did not realize they were scamming me. I do not want them to be able to check my credit or do anything with my personal information. I was unable to view what the document was during the phone call, and I was unable to access the document after the call ended ( I clicked the link again and the message said : You are using an old link, please use the newest link sent to you. ), and I was not emailed the document until after told them today that I didn't know I signed a contract and to cancel it. This is a terrible, scamming company.

Per section number 3 and 7 of the contract
you signed, you agreed to the non-circumvent clause of the contract, which gives us the right to periodically check your credit and check " Lending Records '' to make sure you have not circumvented us with any of the lenders we recommended to you, which you are under contract for. In addition, your cont
ract with us also allows us to collect a consulting fee of ( 10.9 % ) of the total dollar amount you received, as well as a late fee of ten ( 10 % ) percent of the administrative fee which will be assessed if the consulting fee is not received within 72 hours ( about 3 days ) of the date you received access to the funds. You will also be responsible for attorney fees and costs, if you breach the contract with the company. 


In Closing ( there are ABSOLUTELY NO FEES for our services if you have taken no loans from any lenders listed above. The only time a fee would be due is if XXXX of the Lender 's offers is accepted by you in the next 3 months ) Best Regards, XXXX XXXX Personal Loan Concierge @ XXXX XXXX : XXXX eMail : XXXX XXXX XXXX XXXX  XXXX @ XXXX XXXX : XXXX email : XXXX XXXX

Company public response: Company believes the complaint is the result of a misunderstanding
Company response to consumer: Closed with explanation