Payday loan, title loan, personal loan, or advance loan -- Struggling to pay your loan -- Complaint #13248753

Complaint Overview

Complaint ID: 13248753

Company: Lendmark Financial Services

Product: Payday loan, title loan, personal loan, or advance loan

Sub-Product: Payday loan

Issue: Struggling to pay your loan

State: Virginia

ZIP Code: 22407

Date Received: 2025-04-29T12:00:00-05:00

Date Sent to Company: 2025-04-30T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I was told by the company Lendmark that I would be 3 months late at the beginning of XXXX for my monthly loan. My monthly payment is {$290.00}. I have had some financial issues but did not want to be in default, therefore I called and paid them {$290.00} ( included fees of {$2.00} for payment over the phone ) on XX/XX/XXXX, and my husband submitted a check for the amount of {$290.00} to be processed earlier in the week. Both payments were successful. I was behind only one month. Not ideal, but I was getting back on track. Lendmark has always worked with me when I needed additional time and there was no reason for me to think this would be different, especially since they accepted the two payments. I do not answer Lendmark most times because they call while I am at work several times a day at times. At times they call my job after I have asked them not to. Other times they call to ask me if I want to take out another loan. I've had to block calls to keep my phone from ringing at work. I was set to make a third payment before the month of XXXX was out, but I did not make the payment because they sent my account to what they said was collections. The collections letter was mailed XX/XX/XXXX and stated that I was to make payments to Lendmark and I had until XX/XX/XXXX to dispute. This confused me because that's who I always make my payments to. I came home today XX/XX/XXXX to find that they have filed a claim in court. Unfortunately, I have had a loan with Lendmark since XXXX. The first loan was for {$5000.00} and I have taken out additional smaller loans that they wrapped into the original loan. I have never been 3 months late before in that time. I do not understand how I am being sued while still making payments and I am not 3 months late. I've paid roughly {$16000.00} in that time and have not borrowed close to that amount. Lendmark is still saying I owe them {$8400.00} which I will be done paying sometime in XXXX at {$290.00} per month. Lendmark is a loan shark company. Their high interest rate keeps you indebted to them for years long after principal money has been paid. This is because only a small percentage of your payment actually goes to the principal. I will get a record of my payment history and loans upon request. Lendmark is still calling me daily even though I am now being sued. I don't know whether to answer of not, especially if I'm still being sued while making payments. Lendmark needs to be stopped they are a predatory company. They are no different from the payday loan shops that engage in deceptive practices and exorbitant interest rates that are not explained well. They also are negating the arbitration clause in the loan application with this lawsuit. I hope that this does get the attention that it needs to stop others from falling victim.

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Disclaimer

This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

Related Pages

• Lendmark Financial Services Company Profile
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