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Yesterday, we went to the OneMain Financial office in Lilburn, GA to apply for a $6500.00 loan. After spending 2 hours with a loan officer, we were approved for a $10,000.00 loan.

We told her we didn't need that much and decided on borrowing $7500.00 to pay off our car and a few other small bills and ultimately reduce our monthly expenses. The interest rate was a bit high (21.70%) along with the payment amount we were quoted ($347) which was more than our already $325 monthly car payment. At this point I was a little leary but willing to negotiate even though we had explained we wanted to keep our payment between $200 - $250. We discussed changing the term of the loan from 48 months to 60 months to lower the payment to $285, a more reasonable amount.

Since we mentioned paying off our car as one of the reasons for applying for the loan, our loan officer immediately contacted the Auto Finance company telling them that OneMain would be paying off the loan. She also contacted our insurance company to request they be named as the payee and asking for verification to be faxed to her. This before we had signed even the first document. At this point we had nothing in writing showing us their offer and nothing was explained before beginning the process of changing over our existing car loan.

After our loan officer verified all of our information, we returned to the branch this afternoon to sign the paperwork and finalize the loan. As soon as we walked in the door, our agent asked the manager to begin taking pictures of our car (since it would be collateral). WE STILL HAVEN'T SIGNED ANYTHING OR SEEN ANYTHING IN WRITING!!! We stopped them so that we could ask questions and begin to verify the information we had been given the day before (we had been taking notes) and that's when things begin to change.

We verified our interest rate and that's when I was given the actual APR percentage of 23.99%. She had made no mention of it before. We discussed their 14-day return guarantee and we told that we could bring back the check we were given without it being deposited and it would be like the loan had never happened. The manager was brought into the conversation since our agent couldn't answer when we asked what would happen to the amount that was paid to our original auto finance company and to our car title.

The manager said he didn't know since it hadn't happened before but he imagined the car company wouldn't give a refund. Our loan officer now hands us the first thing she wants signed, authorization to claim the title of our car. We asked her when she was going to print our loan papers so that we could look at everything in writing and make sure we agreed to all the terms and the payment before we began signing. She told us that she wouldn't print the paperwork until she got to that step in the process.

Again verifying the payment she quoted, we were told our total monthly payment would be $245. We were very happy. This payment would ensure that we were well able to meet the obligation. At this point, we are ready to start signing.

We were happy with the terms even though the rate was a little high and they would have the car as collateral. We were then offered loan insurance and after listening to our agent's pitch, we declined the insurance. Now the manager steps in and begins to try to sell us on the loan insurance. We explained that we felt we were well enough protected through other means (Worker's Comp, Full Coverage Car Insurance, Homeowner's Insurance, etc.).

The manager then says that 48 months is too long of a term and we make him nervous (because we were not spending $30-$50 extra per month in unnecessary insurance). He them told us that he would have to decrease our term to 36 months, increasing our monthly payment to $297. We stepped outside to discuss it privately. When we came back in to explain that we weren't going to take the loan, the tone changed.

Our loan officer was told to take care of us since our home mortgage is held by the same parent company. We sat back down and again began the process of signing the paperwork since he had now agreed to $245 for 48 months. Our agent asks us for a voided check to set up AutoPay which she had never mentioned to this point. I asked about the payment due date and was told it was due on the 3rd of every month.

We inquired about a due date near the 28th and was told by the manager that the date was not flexible and MUST be 30 days from the date of the loan signing, he went on to say that he didn't have a due date around the 28th. The website clearly states that you can choose a "convenient" due date. That's when the manager again stated we were making him really nervous. At that point, we declined the loan and left the branch.

WE feel like the manager was trying to force us into a monthly payment we couldn't afford or weren't comfortable with.

The purpose of the loan was to consolidate a few bills and end up with a lower monthly payment. We were happy with the terms of the loan before we were offered the insurance and the terms were changed when we declined.

Monetary Loss: $7500.

Location: Atlanta, Georgia

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Guest

Sounds right.

Niam Jgb

I was forced to go put 400.00 on google play cards for aig" insurance purposes" then the agent by the name of melvin smith guaranteed that my loan of 10000 would be placed in my checking account.after they took my money janice another agent told me well since the loan would be coming from kentucky to ohio-i would yave to pay 1800.00 more in taxes to get the loan-i told her i only wanted the original amount of 3000. Not ten the taxes are too much and if i had been made known of this-i never would have accepted-i told her that she is a scammer and her company-i asked for my money back -she said no i cant get it-even though i never received any funds from the company-she transferred me to the tax dept -and i told the man im never paying any taxes on money i dont have-and ive been scammed and robbed of 400 dollars-he told me if i dont pay the taxes-he would place bad marks on my credit report-i researched the company and theyre predatory lenders who prey and extort good people-i am a legal consultant and i will file lawsuit against this company for consumer fraud-conspiracy-and other civil rights violations-I CANT BELIEVE IVE JUST BEEN ROBBED-!IM SO pi##ed OFF!!!!!!!!

Guest
reply icon Replying to comment of Niam Jgb

You were ripped off but not by this bank. Scammers somehow find desperate bad credit suckers and then offer "loans" to.

The first tip-off should have been someone asking for any kind of gift card. NO BANK will ask for something like this.

A scam shop will do this to people like you. Google up the 7 signs of a loan scam for more info Of course, this will not help you but it will help people who may fall for the same game you fell for

Keidy Uoz
reply icon Replying to comment of Niam Jgb

I am so sorry to hear that you went through this, I also just fell for this but unfortunately I paid for the (AIG) Insurance (also with a google play card) but then found out that the taxes would be $1,299 on a $7k loan. We went ahead and paid the taxes with (google play cards) because it was all to be refunded when the loan amount was placed in my account.

The loan amount was not in my account this morning and some woman then informed me that we now have a situation that must be met with paying another $750. for a legal document to be drawn up before the funds will be released to our account. LEGAL DOCUMENT????? I too am embarrassed, angry and feel so stupid for believing we were doing the right thing.

I noticed you said you are a legal consultant and going forward with a lawsuit. Would you please respond to me and let me know if you are willing to share how things have come along so far? I would really appreciate any advice we can get, now out over $1,100 dollars! I hope you will be willing to respond.

BTW I started off with talking to Melvin, then went to Charles then to some woman and in two conversations with her I still couldn't get her name. Thanks for your time an for putting your testimony out there because it's exactly what I've just walked through in the last 3 days.

Keidy Uoz
reply icon Replying to comment of Niam Jgb

I have just gone through the same thing you did with this company. Call started with Melvin Smith then went to Charles and ended with a lady which I tried 3 times to get her name.

I was supposed to get a loan for $7,000, I paid $349 to AIG Insurance by purchasing a Google Play Card. Then I find out that because they are in KY and I live in CO I have to pay taxes on the loan before I even get it which was $1,299. I then got google play cards for pay for the taxes so the loan would be in my bank this morning. IT WAS NOT THERE.

I was told that the money out of pocket for the "Insurance" and the "taxes" would also be refunded to me. The next conversation was this morning but now I am told that because they have done their part and due to them trying to put the transactions through my bank being that it is all in one day it raises suspicion so now they cant transfer the funds into my account unless I want to give them $750 today to put together a legal document that must be signed and is required. It's been one thing after another and every time I have gone through with their request on my end they end up asking for more! I am out over $1,100 now and so embarrassed, angry and want to get justice.

I noticed your post said you are a legal consultant and that you would be pursuing legal action, I would be so grateful if you could share with me if you have made any progress and what steps are the best to take.

I have already informed my bank, put a fraud alert on all of the credit bureaus and am going to file a police report as well. I hope you can find it in your heart to respond with any advice.

Guest
reply icon Replying to comment of Niam Jgb

What kind of "Legal Consultant" did realize they were falling for a scam? C'mon please tell me you're joking.

What kind of consultant didn't bother to Google up OM's phone number and call to confirm this loan? Who are you going to sue? Some kid in Liberia or Ukraine?

You're looking for an onshore solution for a scam that originated offshore. Your money is gone, all you can do now is tuck tail and help others with your sad silly tale of woe?

Guest

Horrible company. High interest rates thaa make it impossible to repay your loan. Beware!!!

Guest
reply icon Replying to comment of Guest-1432330

Yes BEWARE!!!! They must have Luca Brasi and the Godfather working in their offices, holding a gun on you, forcing you to sign the paper and take an offer you can't refuse.

That's the only reason I can think of that someone would take out a bad credit high-interest loan. That or you didn't bother to read or understand what you signed. OR Don't understand basic finance and interest OR Were just so broke and stupid you took the money not thinking how you're going to pay it back while blaming them .

Idiots.... "You must work for them"

Guest
reply icon Replying to comment of Guest-1649056

If you canโ€™t give someone some advice without insulting them then you donโ€™t need to comment. Not everyone is as perfect as you are.Did you catch the sarcasm?!!! In case you are just smart and have no common sense I figured I would let you know it was a sarcastic comment.

Guest

They are coming interest only loans and if I had known this I would have never signed. It put me in a bigger hole.

Guest
reply icon Replying to comment of Guest-1414850

In other words, what you are admitting to the world is you didn't have the COMMON SENSE to read the contract before you agreed to the terms and of course, that's all THEIR fault, right? Am I ever impressed!!!

Guest
reply icon Replying to comment of Guest-1416543

Even if (predatory lender) put it in the fine print AND (desperate customer) didn't read/understand it, doesn't make it any less skeevy or predatory. They and other predatory lenders do this on purpose to keep fish on their hooks.

Guest
reply icon Replying to comment of Guest-1474322

The thing is when it comes to credit cards, loans etc, there is no "Small Print." By law, you are presented with a disclosure form that tells you the interest rate, late penalties, fees, minimum finance charges, how the loan is calculated and how much the total due will be if you Pay On Time and go the full term. This isn't small print, they make the font for the juicer bits large and bold.

Even if there was "small print," it is the responsibility of the consumer to read and understand everything. My guess is that people who have to take out loans at places like this know FULL WELL the money is expensive and it has to be paid back on time every time or it will get more expensive.

That or they didn't learn from their past mistakes which caused them to have to take out a loan at OM in the first place. To blame anyone else is lame....

Guest
reply icon Replying to comment of Guest-1416543

Itโ€™s not good form to insult someone who has been taken advantage of. Not everyone is as perfect as you are

Guest
reply icon Replying to comment of Guest-1414850

These people are doing interest only loans. Been paying on my loan for 7 months 300.00 a month loan is 9000.

Loan is still 900.

No money going to psy off this loan! These people need to be stopped

Guest

Your post was dead-on. The Charlotte,NC branches are the worst.

The employees at the Northlake branch seem inadequate when it comes to Customer Service!

Guest

Hello,

I received a OneMain Offer in the mail and was considering a loan myself. I always research of course before even making a call about these offers.

Your comment was the first that I read. I heard enough. I thank you and appreciate your post.

If not for people as kind as yourself for taking the time to post these comments then consumers like myself who are more nieve than you as you sound in your review would really get hurt.

My father being elderly and having no knowledge or guidance had taken out several loans, beneficial (the worst) and his own bank and now 74 and still paying outrageous monthly payments. So I thank you sincerely,

Guest

i work under San Isidro Multi Co operation Loan Lending Company. It's a new company right here in Philippines and we have been able to broaden our scope over this few years.

we have our head office at Philippines and branch office at USA,Australia and other reserve countries. For info about our company, you can write directly to this listed email.

mrssandrathomson.es@***.co.uk / official_isidrolenderparish.plc@***.us . Thanks for your time...

Regard

San Isidro multi co operation

Guest
reply icon Replying to comment of Guest-1190304

Are you still at this company

Guest

Thanks. I too will have second thoughts and not go with One Main

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