Consumer complaint received 2020-12-12 00:00:00
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Struggling to pay your loan — 
Company: LendingPoint Holdings LLC
State: CA

Complaint narrative:
XX/XX/XXXX, I applied for a loan with Lending point electronically, my initial point of contact processing the loan was XXXX XXXX, I submitted all required documents that were requested, this portion was handled by XXXX XXXX, the document and funding was approved of XX/XX/XXXX, which XXXX XXXX informs me the money should be in my account within the week. I agreed to have my payment taken via ACH from my bank account to ensure payment would be made in a manner. Payment was always on time, they would send me an email informing me when the payment would be taken from my account, the first payment would be deducted from my account XX/XX/XXXX. All payments were paid timely. Until XXXX I asked if the payment date could be changed, which they did not allow me to change my payment date from the XX/XX/XXXX is of each month to the XX/XX/XXXX instead, therefore I sent an email letting them know that they will no longer be able to access my account for the reoccurring payment, I then had control of when I will send the payment, I get paid on the XX/XX/XXXX, therefore making it easier for me to pay and not have it interfere with other bills, I did reach out to them but they considered my payment late, because I no longer paid them on the XX/XX/XXXX but instead on the XX/XX/XXXX, they were unwilling to accommodate my request and I did not pay the late fees, I just didnt want to incur any more debt by allowing them to take the money from my account, but I always paid on time. My payment history was great so great in fact I received this email on XX/XX/XXXX. Read below : You're our favorite XXXX, as a token of our appreciation for being the best part of LendingPoint, we may be able to lower your payment. 

What will you do with the extra money? Finally take the vacation you deserve? Pay off other debts faster? The choice is up to you. 

Ready to get started? Im here to help. Below is a link to my calendar where you can pick a time that is convenient for you, and I will call you directly. Talk to you soon Schedule a Call In appreciation, Sales Team Loan Specialist XXXX XXXX *Applications submitted may be funded by one of several lenders, including : XXXX XXXX  , a Utah-chartered bank, member FDIC ; LendingPoint, a licensed lender in certain states. Loan approval is conditional upon underwriting approval. Actual loan offers and loan amount, terms and annual percentage rates ( " APR '' ) may vary based upon LendingPoint 's proprietary scoring and underwriting system 's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0 % - 6 % may apply depending upon your state of residence. Upon final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. If supporting documentation is received the same day as the application and meets our criteria for final approval, applicants may receive their funds as soon as the next business day dependent on their banking institution. 
This email was sent to : XXXX This email was sent by : LendingPoint XXXX XXXX XXXX, XXXX XXXX, XXXX, GA, XXXX I also received the same offer on XX/XX/XXXX, XX/XX/XXXX from XXXX XXXX. 
I inquired but told XXXX via email I was not interested on on XXXX XXXX. 
On XX/XX/XXXX, I received the same email from XXXX again, I didnt respond. 

When XXXX hit in XX/XX/XXXX, it affected my family severely, due to my husband being a XXXX XXXX, so he wasnt working and I was deemed an essential worker, we only had one income and my income alone was not enough to fund all of the bills. 
I reached out to all of my creditors some helpful and I spoke with XXXX XXXX and this was his offer to me sent to me XX/XX/XXXX Hi again Ms. XXXX, Thank you for speaking with me. Feel free to e-mail me back or call me and leave a quick voicemail at ( XXXX ) XXXX. As I mentioned, you are currently qualified for two flexible options to refinance your loan account : Option 1 : Additional funding. You may request up to {$10000.00} at this time. Additional funding would be added to your current balance, so youd still have one account with one payment schedule. Borrowing more may be a good option for consolidating other debts, or paying off credit cards. The amount can be adjusted to fit your needs.

Option 2 : Reduced payments. We are able to apply a term extension to your current balance, resulting in a much lower payment. The loan would continue to have no penalty for early payoff. This means you get the flexibility of a lower payment, while maintaining your freedom to make additional payments on principal to speed up the payoff.

Option 1 will include a free discount on your interest rate. The discount would apply permanently to both your current balance, and any added funds.

Looking at just one of the many possible options for you Currently you are paying {$550.00}. on a 48 month term. The APR on that is 26.402 % You have {$13000.00} left on that loan. 

If youd like, just by adding {$1000.00} to your account, we can drop that interest rate down to 22.292 % and if you did that on the 48 month option, your payment could go as low as {$430.00}. Plus youd have an extra {$1000.00} to spend! Now personally, I would sugguest you do this on the 34 month option so you dont extend the loan, yet still get a lower rate and payment. On that option, the payment would be {$540.00}. 

There is NO pre-payment penalty and any extra goes straight to principle! 

If you are interested in seeing a quote for any option or amount, please let me know. I look forward to assisting you with this simple process. 

I look forward to hearing from you, XXXX LendingPoint XXXX XXXX Account Manager XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, GA XXXX T : XXXX | D : XXXX CONFIDENTIALITY NOTICE : This e-mail message, including all attachments, is for the sole use of the intended recipient ( s ) and may contain confidential and privileged information. If you are not the intended recipient, you may NOT use, disclose, copy or disseminate this information. Please contact the sender by reply e-mail immediately and destroy all copies of the original message, including all attachments. This communication is for informational purposes only, is not an offer, solicitation, recommendation or commitment for any transaction. Your cooperation is greatly appreciated. 

I was attempting to work with them I was able to secure monies XX/XX/XXXX, to pay off my debts and I reached out to Lendingpoint multiple times to resolve this debt, to no avail no phone no email nada, from them ( which I have all emails, not the phone calls to them ). 
After sending demanding emails to please work with me I received an email from XXXX XXXX with the following : XXXX XXXX, I received your request for settlement I will have XXXX follow up with you today as she is our settlement representative. Also would like to address that we had a Do Not Call on our file per your request please advise if this was accurate. I am showing that your contact number is XXXX XXXX XXXX or do you prefer to communicate by email only. 
Thanks LendingPoint XXXX XXXX Collections Manager XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, GA XXXX T : XXXX | D : XXXX Mind you when I was chasing and leaving messages or speaking with a customer service representative I gave permission numerous time for them to please call me. Heres one of my emails and the follow up with XXXX : XXXX XXXX XXXX Sent : Thursday, XX/XX/XXXX XXXX XXXX  To : Member Services XXXX ; XXXX Subject : Settlement on account CAUTION : This email originated from outside of the organization. Do not click links or open attachments unless you recognize the sender and know the content is safe. 


Dear Sir/ Miss I have called your office several times to request a payoff and settle the account. My calls have sheen futile and not helpful at all. 
It has been three days of inadequate assistance and the inability to return phone calls when given permission to call me with the number they have on file. 
Each day the payoff increases, XXXX XXXX one the XX/XX/XXXX, i called waited on the phone with the on the line off the line holding, than for the XXXX to tell me she is at lunch? Asked if it was ok for her to call me. 
XX/XX/XXXX : Same thing hold, back on the line, holding and clearly have my number again, The person on the phone will send her a message and was placed on hold, she came back on the line to let me know she would inform XXXX of my message and request for a return call back.

XX/XX/XXXX Same thing but the holds were not as long because I didnt have the patience to do this again and my frustration level was pretty high with my anxiety, I have the opportunity to settle this account and I only have a certain amount but each day it increases this is causing me STRESS! When my payment was a tad past due you didnt have an issue calling and emailing 59 times a day to request your money, my payment history is in good standing or at least it was before The Corona Virus ... I have to resolves this so I can nose concentrate on keeping a roof over my family heads and food on the table. Im the only steady income earner at home now and XXXX young adults in College.. 
When I call again toythis will be my 4th time reaching out to Lending Point? WTH???

I did include my State Attorney General in this email. 
This is ridiculous if there is only XXXX XXXX that works in that department as XXXX stated in our phone conversation today, she is the only one in the Settlement Dept.and receives a lot of call, well may I suggest Lending Point hier some HELP? 

XXXX XXXX XXXX XXXX XXXX response : Hello XXXX XXXX, I just tried calling and was unbale to reach you. If you are requesting to settle your account, please provide your recent bank statements, as well as the information listed below. 
Today 's payoff : {$14000.00} Reason For Settlement Date of hardship occurrence Source of income Are you still employed Employer Job title - Monthly Income Settlement Offer - Settlement % - XX/XX/XXXX payment due date - Thanks, XXXX LendingPoint XXXX XXXX Collection Specialist XXXX XXXX XXXX XXXX, XXXX  B XXXX, XXXX, GA XXXX T : XXXX ext. XXXX | F : XXXX My response all of this was on XX/XX/XXXX : Miss XXXX , I will not provide you a copy of anything other than my Several request to settle the account. My hardship is COVID19 My husband is XXXX XXXX XXXX XXXX, His jobs are far and in between now due to COVID-19, I m now the steady employed breadwinner, yet my income alone isnt enough to cover our just living expenses, with that being said, that is the reason for my request to settle this account, I will not be calling again. You can accept my offer or as I did include my State Attorneys on the previous email, They have reached out to me and offered me to make formal complaint, with records of my correspondence with Lendingpoint and my records of the phone calls. All I wanted to do Is settle this account so I can have one less stress in my life. 
Send me the 10 day payoff amount and I will email you My settlement offer ans we can do this via email, since my Phone calls to LendingPoint are futile. 

XXXX XXXX I received no other response after the above email, so I sent another email on XX/XX/XXXX : Another request for a 10 day payoff??? 
Can some PLEASE HELP ME.. this has been the most STRESSFUL SIMPLE TRANSACTION and I have had! I dont understand why cant offer A settlement of this account so I can stop this part of many stresses. 
I have been attempting to get a response I received on phone call from XXXX, I immediately emailed her with a response, and have yet gotten a response??? 

XXXX XXXX XXXX XXXX This is XXXX response on XX/XX/XXXX : Hello XXXX XXXX, If you are requesting to settle your account, please provide your recent bank statements, as well as the information listed below. I have provided a 10-day total payoff quote, as well. 

10 day payoff quote for XX/XX/XXXX - {$14000.00} Today 's payoff : {$14000.00} Reason For Settlement Date of hardship occurrence Source of income Are you still employed Employer Job title - Monthly Income Settlement Offer - Settlement % - XX/XX/XXXX payment due date - Thanks, XXXX LendingPoint XXXX XXXX XXXX response to XXXX on XX/XX/XXXX : XXXX, Its not IF, it is what I have been attempting to do, I dont mean to be rude with you, but my frustration level is through the roof with your company! I am in the process of filing a complaint with my State Attorneys office.

As I emailed before and explained my hardship HELLO COVID19! 
Im will not send another email explains my dire circumstances. 
I will it be providing any documents that are being requested, At this point Im over you guys. Let me be clear when I type this you will accept or decline my settlement offer, and my State Attorneys General will be ccd on this email as with the others.

My offer to be done with Lendingpoint is : {$12000.00}.

and I would think you would accept it on my past payment history, until COVID19. 

XXXX XXXX At this point it appeared futile they were willing to work with me. I received an email recently they sold my account to some debt collection agency out of Texas which I received a formal email from Lending Point telling me that and I subsequently received 3 emails from the Dent collectors and then a phone call from a XXXX which I returned the call and spoken with her, I attempted to let her know the situation but she kept cutting me off to read me her standard script, she didnt want to hear anything I had to say, so I asked her not to contact me and harass me and again she wanted to read her script, mind you I was trying to let her know I had been tested XXXX XXXX XXXX nope she didnt care she wanted to say that script, when I am struggling with COVID, Im XXXX  than I have EVER been in my lifetime and Im trying to deal with this too! Way to much stress, however I just ended our call and I immediately emailed XXXX from Lendingpoint that I was going to again report Lendingpoint with my State Attorneys office selling my account when I tried many times to settle my account and now they sick some out of state collection company on me? I did theyll them I was going to sue them, as I did more research on this company and found they have a class action suit against them currently for their business practices Smith vs. Lendingpoint. 

Please assist me with this. 

Respectfully. 
XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation