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Business Profile

Bank

Peapack-Gladstone Bank

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 2 total complaints in the last 3 years.
  • 1 complaint closed in the last 12 months.

If you've experienced an issue

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.

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Complaint status

Complaint type

  • Initial Complaint

    Date:01/06/2025

    Type:Order Issues
    Status:
    Unanswered
    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 husband and I received an SBA loan for our small business in the amount of $150,000 through Peapack Gladstone Bank prior to 2020. After the Covid shutdown we did what we could to continue to stay in business but were forced to close in 2021. We continued to make payments on our loan for over a year out of our own pockets but eventually defaulted and requested any type of assistance/forgiveness available for the remainder of the loan. For over a year we were lead through a time-consuming and confusing process to request an Offer in Compromise which would allow us to pay a reduced amount and settle the debt. After months of being stalled and threatened by the Peapack Gladstone vice president in charge of our loan, and after completing the long list of steps and requests for the OIC, she immediately denied our request , refused to submit it to the SBA for review and proceeded to threaten us with foreclosure on our home. She told us that our home was valuable and we could just sell it pay her in full. After several more months of us requesting thorough documentation that detailed our past payments and payoff amount our loan case was passed on to someone new and we had to start the process all over. We secured a loan to pay off the SBA balance but the new vice president in charge of our case refused again to meet with us, take a phone call from us, or accept any reduced payoff amount or OIC. When we offered to pay the amount in full pending a detailed payoff quote from the bank, he filed suit against us instead. We still have not received a full explanation from the bank of the balance and they have shown us no evidence that they ever discussed any options with the SBA as we were promised when we took the loan. There is no way to contact anyone else at Peapack to help us and both agents refused to meet with us. We now have a looming lawsuit against us and were told we can no longer contact the bank at all and would have to reach out to their lawyers.

  • Initial Complaint

    Date:04/11/2023

    Type:Billing Issues
    Status:
    Unanswered
    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.
    Peapack Gladstone bank has decided to deduct a $50 service fee from my account (and many others) every month. Talk about thievery! There should be a picture of them in the dictionary for 'rip-off.' This is the kind of greed that gives banks a bad name. I want my $50.00 returned to me and I will gladly close my account with them.

Peapack-Gladstone Bank is NOT a BBB Accredited Business.

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