Business Profile

Consumer Finance Companies

Lendmark Financial Services

This business is NOT BBB Accredited.

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Complaints

This profile includes complaints for Lendmark Financial Services's headquarters and its corporate-owned locations. To view all corporate locations, see

Customer Complaints Summary

280 total complaints in the last 3 years.
106 complaints closed in the last 12 months.

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Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

Initial Complaint
Date:02/10/2024
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Truck was totaled and in impound in ************* ! I was not notified the truck was totaled and in impound until 80 days later I was told by lendmark only by forcing questions on them to find out about the truck . They were notified by ************** but did not tell me anything! So now theres 3000$ of impound fees that lendmark should be liable for because they were the ones notified not me .
Business Response
Date: 02/23/2024
Dear *********************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.

The impound fee was accessed by ************** for towing and/or storing of your vehicle after it was involved in a car accident. Lendmark has no bearing on fees charged by **************. On November 27, 2023, the ************** ********** of ************** notified you and Lendmark of the vehicle location by letter.A copy of the Letter has been mailed to your address on file.

We trust this resolves the complaint brought forth. Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************
Sincerely,
*************************
Chief Risk Officer
Initial Complaint
Date:02/05/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
They scammed me I only had got a loan for $500 now they saying I owe them $6551 when I accidentally paid them $7000 I had a stroke and now they trying to take advantage of him.
Business Response
Date: 02/22/2024
Dear *********************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.

On April 14, 2020, you entered a consumer installment loan secured by consumer goods with Lendmark. The amount financed of $3,963.87, interest rate of *****%, a total payment of $7, ****** to be repaid over 48 months in $ ****** monthly payments.
On May 15, 2023, you obtained a direct consumer installment loan to finance the purchase of a 2012 GMC Acadia from V&V *********** a used car dealership. The original amount financed was $6,294.95 with an interest rate of *****% for a total of payments of $10,693.44 to be repaid over 48 months in $222.78 monthly payments.
You currently have two open loans with Lendmark, and we have mailed out a copy of the Promissory Note and payment history associated with both accounts for your review.
We trust this resolves the complaint brought forth. Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************

Sincerely,

*************************
Chief Risk Officer
Initial Complaint
Date:02/04/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
#****** Account # and allegedly opened August 17, ******* am requesting accuracy of this information. Lendmark claims account was closed and charged off ($5,861) but has failed to validate and give me the information that I have requested via certified ,first class mail over the last 12 months or so. The entity has failed to investigate or remove inaccuracies affecting my credit report. One section of credit files shows PAID OFF, ANOTHER SHOWS CLOSED, CHARGED OFF, and another show SOLD. I attempted to go back to the Lendmark Financial in ********, ************** where they stated the loan was originated, but the DOORS WAS LOCKED CLOSED, and a sign outside the door where they have closed permanently. Despite my attempts to resolve this matter directly with Lendmark Financial, the issue persists and I believe it is necessary to seek your assistance with this matter.I need answers, my next step is emailing CEO. If nothing is handled efficiently and this is not taken off my credit report, I will be seeking legal counsel to help me get this resolved because all of their information is FRIVOLOUS. This entity has failed to provide adequate, legal documents pursuant to the ***** and FCRA. I will be forced to escalate my complaint to the appropriate regulatory authorities. Kind Regards
Business Response
Date: 02/16/2024
Dear *****************************,
Lendmark Financial Services, LLC (hereinafter referred to as "Lendmark") is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customer's concerns as follows.
********************** has completed an investigation into your dispute and can confirm your tradeline is reporting correctly with the credit reporting agencies. The tradeline is reporting as charged off as of December 26, 2018, and sold to Plaza Services as of April 30, 2019. Lendmark is no longer attempting to collect this debt.
You should contact Plaza Services for information regarding the account. You may reach Plaza Services at ************.
Lendmark Financial Services has received indirect credit disputes submitted from the credit reporting agencies initiated by you and has previously responded to the initiating agency with updated information, if any,within the required timeframe for response.
We understand that you have requested that Lendmark remove certain information associated with the tradeline for the Lendmark loan account referenced in your complaint that was furnished to the credit reporting agencies (CRAs) by Lendmark. The Fair Credit Reporting Act requires that Lendmark accurately report information to the CRAs. As the information reported to the CRAs regarding your account was accurate, ****************** is unable to accommodate your request.
We trust this resolves the complaint brought forth. Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address *********************************************

Sincerely,
*************************, Chief Risk Officer
Initial Complaint
Date:02/03/2024
Type:Customer Service Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
My identity was stolen and used to attempt to open a line of credit. I have multiple open investigations by state and federal agencies and am collection as much Information as I can on each fraudulent use of my identity. In this case, both the branch and headquarters have deemed fraudulent activity in the account but have refused to relinquish the application submitted by the fraudster which may contain ACTUAL information of mine, which I have the right to know. This will also help law enforcement in their **** for the criminal perpetrating these crimes.
Business Response
Date: 02/20/2024
Dear ***********************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.

If you believe you are a victim of identity theft, please provide:

?         A completed police report that includes the account number in the claim or ************************ (FTC) identity theft report; and
?         A copy of the customers government issued identification document such as a drivers license or state issued ID.

Once all documents above are completed and collected, please mail a copy of each to Lendmark Financial Services, ********************** *****************************************************************.

Should you have any further questions, please do not hesitate to contact Lendmark in writing at the address provided herein.

Sincerely,

*************************
Chief Risk Officer
Initial Complaint
Date:02/01/2024
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
On March 13,2023 I was approved for a auto loan, and I went into Lendmark Financial in ******* **, and sat down with *********************** to do paperwork. The dealer ***************************** brought the ************************************************* but had a ringing noise, which ******** said he was going to fix and deliver it to my home, which he deliver it, but did not fix the noise. but I still went ahead and purchased the vehicle and did the electronic paperwork, which I never got from ***** the loan officer. The interest rate was never disclose, but I was told my payments would be ****** a month, which was ok. I was offered gap and disability insurance all included. So once ******** the dealer did our paperwork, ***** cut a check for ******** for ******* my balance once I paid ******* down, hoping to get it paid off within a year. When I made my payment last week on the 26th of January, that is when I say the balance was more that I borrowed, and I have called the corp office, no results, they referred me back to ******* ** location and ***** is no longer there. I have called that location twice and spoke to a ********************************* and she said that they had a whole new staff there. So she act like she could not give me a copy of my contract what ***** should have given me almost a year ago. ******** was telling me of the simple high interest rate I was given and I told her I was not disclosed that amount, because If I knew that, I would have not purchased this suv at that rate. This company I feel does predatory lending with no disclosures to the applicant. And still to this date, I have no terms or the contract I did last year electronically. I want to pay my car off with about 2500 dollars, not *******. not gonna happen.
Business Response
Date: 02/16/2024
Dear *****************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address your concerns as follows.
You obtained a direct consumer installment loan to finance the purchase of a 2011 *** X5 from ******* Auto Sales and Repair LLC a used car dealership on March 16, 2023. As fully disclosed on the Disclosure Statement, Promissory Note, and Security Agreement, (the Loan Agreement) the original amount financed was $8,218.63 with an interest rate of *****% for a total of payments of $14,431.20 to be repaid over 48 months in $300.65 monthly payments.
For further clarification when loans are electronically signed the fully executed loan documents are emailed to the customer therefore your loan documents were emailed to **************************** the confirmed email address on file. As requested, a copy of your loan agreement and the buyers order has been mailed to the address provided in the complaint.

We trust this resolves the complaint brought forth.Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************

Sincerely,

*************************
Chief Risk Officer
Customer Answer
Date: 02/22/2024

Complaint: 21228044

I am rejecting this response because: *********************** did not give me a copy of my contract, I thought I had it with my buyers orders paperwork, but I didn't and it was never send to me via e-mail. He never gave it to me and I have had reach out to him multiple time through E-mail, still no response, and I even called out to ****** at the Roswell locations last week and he was able to send it to me. Then after that I have asked for my payoff multiple times and they still have not sent that to me after I have requested for it over a week ago. So I called ****** back at the Rosewell locations and he said he was gonna get it to me. I still do not have the payoff after numerous times asking. This company have disclosure issues and have many complaints about over charging and not disclosing interest rates when purchasing vehicles with them. I was told my interest rate was 30%, I never saw it till last week, because if I was shown this on the day of contracting electronically, I would have never purchase this vehicle at that rate. Last March, I told *********************** that I was gonna pay this suv off within a year, and clearly ask him about a prepayment penalty, and he said there was not one. He lied and everyone else at this institution has lied to me. I am not going to make another payment until they give me my early payoff in writing. I paid down ******* and have paid ******* in payment, they financed ******* with interest. I should not owe but about *******, because the vehicle was only *******. I am not satisfied with how they are trying to rip me off alone with others that have complaints on the BBB. I am open to negotiate, but no one has reach out to me. Every month around the 16th, I usually get numerous call about my car payment, now that I have made this complaints I have not received any calls about my car payment. Lendmark know they are wrong and need to be investigated and class action law suit filed should filed against them for me and others being ripped off.

Sincerely,

*****************************
Business Response
Date: 03/07/2024
Dear *****************************,

You executed your installment loan agreement documents with Lendmark using an electronic signature. When loans are electronically signed the fully executed loan documents are emailed to the customer therefore your loan documents were emailed to **************************** the confirmed email address on file at the time of the loan closing. As requested, a copy of your loan agreement and the buyers order was mailed on February 16, ******************************* the previous complaint.

We trust this resolves the complaint brought forth.Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************

Sincerely,

*************************
Chief Risk Officer
Customer Answer
Date: 03/12/2024

Complaint: 21228044

I am rejecting this response because:

Sincerely,

*****************************
Initial Complaint
Date:01/26/2024
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
******** has filed a deliquency on my credit saying zinhad late payments. However I didn't not have any late payments and now I cannot get approved for an auto loan because they did not properly submit the information about my account. The situation is embarrassing and time consuming. Also, ******* at landmark was very rude and did not seem to care about the issue at all. She even hung up on me even though I did not yell or curse at her.
Business Response
Date: 02/09/2024
Dear *****************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.

You have requested that Lendmark remove the late payments reporting with the CRAs however we can confirm the information reporting to the credit reporting agencies regarding your account is accurate and under The Fair Credit Reporting Act Lendmark is obligated to accurately report this information to the credit reporting agencies, to that end Lendmark is unable to accommodate your request.

We trust this resolves the complaint brought forth.Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************
Sincerely,
*************************
Chief risk officer
Initial Complaint
Date:01/23/2024
Type:Order Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
I took out a loan with this company, but since six months ago, I paid it off because I was never getting anywhere with the amount decreasing. This is a predatory lender company it praise on people thats not financially wealthy, they pay more to themselves before they pay the principal of the loan, so the largest portion of the money that you pay goes to the interest, and not to the principal, making it unable for you to pay this loan off over a period of time, my mother is going through this now and she pays every month faithfully. We need help with this company not only have I complained and my mother complained. There are other people complaining that they never get these loans paid off all of their money. Lots of times are fixed income. My mother is on a fixed income. She went to them and Borrowed $6000 , now she owes $11,000 please make that makes sense to me how you can owe that much . She pays her Loan which is over $400 every month. so please contact us. I am looking into contacting a television station. A news reporter to look into this because this has gotten really serious. My mother is stressing and wondering if she should file for bankruptcy just to get away from this company and I am sure there are a lot of other people, but I am going to be the voice that speaks out for them. Most loans when you take them out at a bank or a credit union. When you ask for a early payoff its usually less than the amount on the paperwork With LENDMARK the amount is higher so basically saying you have to pay off all the interest as well as the loan so again help us was a predatory lending company. I did research on them and they had to pay back a lot of money to people and adjust the loans. I feel that this company just took the place of Santander . Please help us and please contact me when you get this information and let me know that you all are going to help. My number is ************ if I do not answer, please leave me a name and a number and I will contact you back, thank you
Business Response
Date: 02/01/2024
Dear *************************,
Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. Currently we are unable to locate a Lendmark account with the information provided and will need permission from the account holder to discuss any details related to the account with a third party.
Please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below if you would like to provide any additional information or have any questions.
***************************************

Sincerely,
*************************
Chief Risk Officer
Customer Answer
Date: 02/01/2024

Complaint: 21188112

I am rejecting this response because:

Sincerely,

*************************
Customer Answer
Date: 02/02/2024
The reason why I rejected Lendmarks it is because I am advocating for others that dont know how to speak out for themselves concerning this company. I tried contacting some news reporters, but I have not heard anything back from them so that they can investigate this company as well and I truly believe that they will not resolve these issues, if you look into some of these loans, you will see how long these people have had these loans I spoke with a young lady who is the power of attorney of her uncle, and she said that he had taken out the loan and it had been two years out, and the amount of the loan was not decreasing so they are not trying to fix the situation. They are just trying to stay in business and continue to prey on the weak . I did not include a attachment this time because I already sent a copy of mine and truly I feel that they owe my husband and myself some money back not a little bit, but a lot as well as others.
Initial Complaint
Date:01/22/2024
Type:Billing Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
On February 8, 2023 Lendmark Financial Services has reported a charge-off on my credit reports (Transunion, Experian, and Equifax) - This letter is to inform Lendmark Financial Services to stop reporting to my consumer report regarding this account. **********************, you have failed to write to me the consumer and disclose were you going to show me the law where it states that Lendmark Financial Services has permission to report anything on my consumer credit report. I have NOT allowed Lendmark Financial Services to report this information or any information on my consumer credit report. According to consumer law 15 USC **** Financial institutions in this case Lendmark Financial Services has an affirmative and continued obligation to respect the privacy of its customers and to protect the security and confidentiality of those consumers non public personal information. This law has been violated as I am the consumer, and you Lendmark Financial Services are the furnisher. If any person uses my information without permission that is identity theft. There must be permissible purpose. I did not give permission to report this or any account on my consumer credit report, therefore, this is identity theft as you Lendmark Financial Services used my information and publicized it. Consumer law code 15 USC **** (Q) and 15 USC **** (A)(2) In accordance with the written instructions of the consumer of whom it relates. This company is in clear violation of the law and my consumer rights, .
Business Response
Date: 01/26/2024
Dear *******************,
Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.
You entered an installment loan secured by consumer goods with Lendmark on September 1, 2021; the amount financed was $3000.00 at an intertest rate of *****%, to be repaid over 48 months. With the last payment you made on this account being March 21, 2023,the account was charged off on February 2, ****, due to the terms of the loan agreement not being satisfied. At the point of sale, you were provided with a copy of Lendmarks Privacy Policy to advise you of what information can and cannot be shared (a copy of the privacy notice was mailed to on January 8, ****, for reference).

A charged off account is considered a delinquent occurrence and can remain on your credit report for 7 to 10 years from the first date of default. With that being stated, we can confirm the information reporting to the credit reporting agencies regarding your account is accurate and under The Fair Credit Reporting Act Lendmark are obligated to accurately report this information.

We trust this resolves the complaint brought forth. Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************
Sincerely,
*************************
Chief Risk officer
Customer Answer
Date: 01/29/2024

Complaint: 21181818

I am rejecting this response because: As Defined by The ***

Even if you didn't receive a Form ****-C, you must report canceled debt as gross income on your tax return.

The *** Clearly defines a charge off as Gross or Ordinary income, INCOME DOES NOT GET REPORTED ON THE CONSUMER REPORT which in fact makes your reporting of this account inaccurate!

By Definition The *** Clearly says a Cancelled debt or Charge off is Income. The reporting of this account as a debt is in accurate.
15 USC **** s-2 Says you Lendmark Financial Services, LLC are a furnisher of information to a consumer reporting agency.
You ARE PROHIBITED BY LAW to furnish inaccurate information.I demand you to Cease and Desist the reporting of incorrect/ in accurate information immediately.
Pursuant to 15 USC **** s-2 (a) (1) (A)
The lender must file Form ****-C and send me a copy if the amount of debt canceled is $600 or more and the lender is a financial institution, credit union, federal government agency, or other applicable entity as discussed earlier in chapter 1.
The above paragraph is taken directly from the *** 2021 publication.
SEND ME MY FORM ****-C that you should have sent when you Filled the account as a canceled debt.
My Address is listed below!
***************************
**********************************
Pursuant to 15 U.S. Code ****s2
In conclusion I have shown you and you have been put on notice that you are reporting inaccurate information. The information is, in fact, inaccurate.
Further, I am requesting that your company please forward me a copy of the ****-C that was issued by your company when you charged this debt off with the *** which is required by law for all debts over $600.

The continued reporting of this inaccurate information is a clear violation of the Law 15 USC **** s-2 of your responsibilities as a furnisher of information.
You have caused me and my family severe harm due to your negligence and inaccurate reporting. This is a final opportunity to Cure and DELETE This Erroneous,inaccurate account from my Consumer report.

YOU HAVE 10 Calendar days to DELETE THIS ACOOUNT FROM MY CONSUMER REPORTS!

Sincerely,

*******************
Business Response
Date: 01/30/2024
Dear *******************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.
You entered an installment loan secured by consumer goods with Lendmark on September 1, 2021; the amount financed was $3000.00 at an intertest rate of *****%, to be repaid over 48 months. With the last payment you made on this account being March 21, 2023,the account was charged off on February 2, ****, due to the terms of the loan agreement not being satisfied. At the point of sale, you were provided with a copy of Lendmarks Privacy Policy to advise you of what information can and cannot be shared (a copy of the privacy notice was mailed to on January 8, ****, for reference).

A charged off account is considered a delinquent occurrence and can remain on your credit report for 7 to 10 years from the first date of default. With that being stated, we can confirm the information reporting to the credit reporting agencies regarding your account is accurate and under The Fair Credit Reporting Act Lendmark are obligated to accurately report this information.

We trust this resolves the complaint brought forth. Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************
Sincerely,
*************************
Chief Risk officer

Customer Answer
Date: 02/02/2024

Complaint: 21181818

I am rejecting this response because: I have not yet received the ****-c form that was filed in order to make this debt a Charged off Debt. As per my earlier request.
I am requesting that your company please forward me a copy of the ****-C that was issued by your company when you charged this debt off with the *** which is required by law for all debts over $600.

Sincerely,

*******************
Initial Complaint
Date:01/15/2024
Type:Sales and Advertising Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
Between December 19, 2023 and December 21, 2023 After identifying on the website of ******* Cars and Trucks a ****** *** I was interested in, I applied for credit on the website of the car dealership: ******************, located at ***********************************************************A member of Lendmark Financial Services located at ****************************************************************************, contacted me by phone and notified me of the specific amount I qualified for. We discussed the figure and the process of negotiating a price with the dealership and how it was best not to share with the salesperson the amount I qualified for. I understood from our conversation that if the vehicle's price exceeded my credit, I was responsible for that amount.I went to ****************** on December 21, 2023 to test drive the vehicle I had identified on their website. I test drove the vehicle and took it to 2 local mechanics. I was interested in making the purchase, but needed to negotiate the price down due to items I and a local mechanic were concerned about. While discussing the price with the car dealership sales agent, I asked if they would discount the vehicle due to items that needed to be replaced or corrected. She asked, "Have you talked to LendMark? I stated, "Yes." She stated, "They said you qualified for (the exact amount qualified for)." I was perplexed because I did not think LendMark should have told the dealership the exact amount I qualified for, this would limit my ability to negotiate with the sales agent at the dealership. The sales agent continued to compute the amount of the sale with the full amount of my qualification and asked me if I had the difference of $800+. I did not have this amount, and was unable to purchase the vehicle.Is this a violation of any type? May lenders share with car dealerships the exact amount a consumer qualifies for, or should they merely state if the application has been approved? I think this disclosure prevented negotiating.
Business Response
Date: 01/22/2024
Dear *************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address your concerns as follows.
Thank you for bringing your concerns to our attention. We have reviewed the processing of your credit application with the ********, ** Branch Manager and found no errors during processing. Additionally, we did not release any personal information to the auto dealer, only the approval amount was shared. We share approval amounts with the dealer so they are aware of how much of your purchase will be covered by Lendmark financing, which is part of our standard practice.
We trust this resolves the complaint brought forth.Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************

Sincerely,

*************************
Chief Risk Officer
Initial Complaint
Date:01/12/2024
Type:Service or Repair Issues
Status:
AnsweredMore info
Complaint statuses
Resolved:
The complainant verified the issue was resolved to their satisfaction.
Unresolved:
The business responded to the dispute but failed to make a good faith effort to resolve it.
Answered:
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Unanswered:
The business failed to respond to the dispute.
Unpursuable:
BBB is unable to locate the business.
In early October 2023 I applied for a loan with Lendmark. I was told by the agent in *********, ** that it would be beneficial for me to include my spouse in the loan process. We, my husband and I, decided to put the process on hold until after the end of the year, allowing time to determine if this was our best option. In early January it became apparent that we had no other alternative. The ********************* district overpaid my husband and has asked all the teachers that were mistakenly overpaid, to choose a repayment process. Over $4,000. Our son is to be married on May 4, **** and we will require approximately $5,0000.......trying to anticipate our upcoming needs we began the process with Lendmark, once again, on 1/4/****. Somehow the loan application was sent to the *******, ** Lendmark. On Thursday 1/4 we were told to call and schedule an appointment to sign our loan documents. We would call but no one would return our call. On 1/9/**** we reached out to the *********, ** branch for guidance - they then called ******* and suggested to the folks in ******* that they give ** an answer one way or another. On 1/9/**** we received a call from the *******, ** branch, stating we had been approved for $5,000. Come on in and sign loan documents. Bring ID's and banking information. We were driving to Lendmark in *******, ** with our drivers license's and routing/account number in hand on 1/9/**** when my husband gets yet another call stating that they made a mistake and could not provide us with a loan. DEVASTATING. Credit impacted significantly. Now without options. Lack of professionalism, careless regard for the person on the other end. Disturbing to say the least.
Business Response
Date: 01/23/2024
Dear ***************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.

Thank you for bringing your concerns to our attention. We have advised ********************,WA BM to reach out to you directly and have been notified that this matter has been resolved.
Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************
Sincerely,
*************************
Chief Risk Officer

Customer Answer
Date: 01/23/2024
On 01/19/2024 we were notified, by phone, that the Lendmark Re-reviewed the income you guys sent in and I am able to request an exception on the debt income they approved the exception of the loan is approved for $5,000 that is a stamp approval.
We returned her call and made a date for signing at 4:30 on that same day. **** signed after I signed, at which point he provided the Lendmark associate, *******, with his debit card information in order to have said funds applied to our account immediately.
At this point I want to make clear that **** does not routinely use his debit card, wherein he had used it just one time over the course of the previous month. It was after 5:00 pm at this point and Lendmark was scheduled to close at 5:30. We thanked them and left the premises.
On the following morning, Saturday 1/20/2024, **** receives a fraud alert from our debit card bank branch, WECU, that it appeared that a charge was placed between 5:00-5:30 on the previous evening of 1/19/2024 in the amount of $560.95 to FP Fashionova.com.
Only one person had access to his debit card in that period of time and we are filing a formal dispute with the Attorney General of Washington State.
**** and ***************************

Business Response
Date: 01/26/2024
Dear ***************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.

Thank you for bringing your concerns to our attention. We have opened an internal investigation into the matter and will provide an update upon completion. Please dispute the transaction with your financial institution as this will assist with the investigation process.

Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
*************************************** .

Sincerely,

*************************
Chief Risk Officer
Customer Answer
Date: 01/29/2024
We have WECU involved from the very beginning as they were the ones that alerted **** of fraudulent activity on his debit card and shut down his debit card within ***** hours
Business Response
Date: 02/01/2024
Thank you.
Customer Answer
Date: 02/02/2024

Complaint: 21138425

I am rejecting this response because:
I will want to see, with ***************, the depth of their review, as well as, the action taken whence the review has been completed.
Sincerely,

******************************
Business Response
Date: 02/07/2024
Dear ***************************,

Lendmark Financial Services, LLC (hereinafter referred to as Lendmark) is in receipt of your consumer complaint. We have had the opportunity to review the complaint and will address the customers concerns as follows.

Thank you for bringing your concerns to our attention. We have concluded our investigation and could not find any evidence to substantiate your claim. If you have additional information you would like to submit for review, we will reopen the investigation.
We trust this resolves the complaint brought forth. Should you have any further questions, please do not hesitate to contact Lendmark Financial Services by utilizing our customer contact email address below.
***************************************
Sincerely,
*************************
Chief Risk Officer

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