LoanMart

I do business with ACE Cash Express, and I asked about LoanMart through there. They told me who LoanMart was and what exactly they did. After I heard of the way they helped people knock their principals down the way they do, I was enticed quite a bit, so I took advantage of it. The application process was simple and easy. If I'd had everything right the first time, it would’ve taken about a couple hours, but it took me at least four hours to get it all straightened out right. Once I got to know the particulars as to how the application worked and what meant what, it made sense to me, so it was more understandable for me.

I needed a loan and it seemed like LoanMart's fees weren't as high as other businesses. So, I thought it was a good idea just to use them. The application process was very easy. But they kept calling me instead of writing everything down that they needed me to do. They kept calling me telling me that they needed this, and then they needed me to resend this. I still haven't got the loan from them. I've been waiting since last week because one of the loan officers put the wrong routing number in there after I sent him my account number and the routing number. I signed the documents. I signed them off from my phone, so I didn't look at the routing number to make sure because I already sent it to him. But he put a different California number in there.

My previous experience was good. It was a blessing because it got me out the hole I was in, bill-wise. But I was a little thrown off with the new loan. I paid off my previous loan way ahead of time, so that’s why they didn't have a problem with extending credit to me again this time. But this time was different. I was supposed to move at a certain time and my new place wasn't ready when I was supposed to get there. So that made me incur extra cost that I didn't anticipate. I called the other day to try and explain my situation to the young lady. I asked her if they could extend my due date to the 3rd and they could take it directly on my account. She said, "No. It’s gonna have to go to the delinquency department." But I didn't have this problem the first time around, so I'm not understanding what the problem is this time. They know that I take care of business with them. Other than that, I've had an awesome experience with them.

LoanMart was more understanding and the process was very simple. I went with them and my experience went very well. I was having a family emergency at that time and the service was perfect. I just had to submit everything through text message or email. As soon as I did that and showed them that I sent off my title, they sent the money right away. One of the first people I talked to was very energetic, very helpful and very insightful. I didn't understand exactly how to send my title. They texted me right back or they emailed me right back. It seemed like they were really there to help. I didn't have to wait like a whole day or two for an answer to my question.

Everything is working out great with LoanMart. I took out my first loan in December, and at the end of February, I paid it off. Then something came up and led me to take out another loan because I was kinda wanting to build my credit up and I needed some extra cash in-between time. So, I was happy I did it because now, we're off of work. The Coronavirus is here and we're on a shutdown. So, it was a very big help that they gave me the loan again. It wasn't what I wanted, but I made it work.

I checked my full loan amount December 8th 2020, checked yesterday and it was 422$ higher. With daily interest rates I will never pay down my loan. I didn’t understand that there would be daily Interest Accumulating. It’s like they want you to never pay off your loan off.

It took a day to receive the loan from LoanMart and I was fine with the process. It helped me pay what I needed to pay.

The reps were okay, but it took so long for the process. They said it would be within one day, and it took a couple of days for me to even get approved and the money released. I didn't know the interest was that high as well. My goal is to pay it off at once on the first payment, but the interest is so high. It takes you forever and then once you get stuck, and the whole point of somebody having your title, I would never do this again once I pay it off. I just needed some money fast and that was the only resort I had. Overall though, LoanMart's customer service was great.

It was a long process. They required certain stuff. I was the person that returned calls. LoanMart would say they would call me back in an hour, but it would be a another day, I would call back. They were not consistent in telling me my next process. And then I thought the loan I originally got was not clear on the information. They said that I could pay it back anytime, at any given time. I was thinking, “Why would he take three years to pay $1,200 back?” Information was not good. I wanted to pay it off in March. I'm still not clear, do I pay the whole three years of what was originally planned or what will be the amount for it in March?

At first, I thought LoanMart was a scam, but then I just kept on going through the thing because I've never done it before, and some of the things seemed odd. But I understand that a lot of the things that they asked, they needed a real signature. You couldn't do a signature over the phone. And then the mailing of the title to them before you got your money got me worried. But I understand they don't want to give out money and then not get the title. Other than the fact that I had to get over my fear of doing something over the phone, it is what it was. Just you hear about people getting their identity stolen all the time. They were always there when I called and asked questions.