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“Deceptive Lending Practices and awful customer service”

Written on: 24/09/2015 by AngelShort430 (1 review written)

I submitted a prequalified loan application with Best Egg My initial application (debt consolidation) was for $25,000 although they counter-offered with a $10,000 approval (at an astonishing 28.99% interest rate for a 5 year term with a $307 monthly payment). Upon completion, a copy of my passport and voided check were sent (as requested). That afternoon, I received a call from one of their representatives asking to verify some personal information (including data from my credit report), he immediately proceeded by calling my financial institution to confirm my checking account number (among other questions) and told me that since the copy of my passport uploaded on their website wasn't legible, I had to submit it again via email (which I immediately did). The following day I started receiving emails reminding me that supporting documentation had not been submitted to complete my loan application and have the funds disbursed. I kept calling Best Egg and no one seemed to know what was happening, other than the fact that my loan was on final review and no additional documentation was needed. Today (9 days after my application) I checked the status online and noticed it had been declined for “insufficient documentation” (what?)... I immediately called the 800 number (yet again) and requested to speak to a supervisor; I am not sure why since he didn't know what had really happened. Instead, he graciously suggested I waited for a letter within the next 7-8 business days with an explanation of my denial. I have to say, that besides the lack of knowledge, miscommunication and poor customer services of this company, what shocked me the most, was the incoherence and misleading/deceptive practices enforced by Best Egg (and the creditors backing their services). I was very disappointed and obviously affected by the "false" insinuation (as per the final decision and communication provided) that my loan had been approved. I will NOT (X 1MM) RECOMMEND THIS COMPANY TO ANYONE (FRIEND OR FOE)

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