My Financing USA RV and Boat lender BUYER BEWARE OF THIS COMPANY! Louisville Kentucky
The worst company to deal with, it starts off as a lie! After running my credit which I have good credit and I'm a small business owner as well, approving me and telling me to go out and find an RV which I did and put a $1,000 NON-REFUNDABLE DEPOSIT on a trailer with a dealership. The dealership and I sent them the information to have this response from them. MIND YOU THEY ALREADY APPROVED ME AND TOLD ME TO GO FIND A TRAILER!
Thank you for submitting your loan request with My Financing USA. Unfortunately, your application was declined due to the following:
1. Unable to verify income as stated on application
2. Excessive obligations
If you would like to learn more about the credit information used for this decision and ways to obtain a copy of your credit report, please visit the FDIC website at:
fdic.gov/consumers/consumer/ccc/reporting.html
or the Federal Trade Commission website at:
consumer.ftc.gov/articles/0155-free-credit-reports
The information used to decision your loan application was pulled from the following credit bureaus:
Trans Union (www.transunion.com)
P.O. Box 1000
Chester, PA 19022
1-800-916-8800
Equifax (www.equifax.com)
P.O. Box 740241
Atlanta, GA 30374-0241
1-800-685-1111
Experian (www.experian.com)
P.O. Box 2104
Allen, TX 75013-0949
1-888-EXPERIAN (397-3742)
Thank you for your application!
DON'T LET THIS HAPPEN TO YOU! DO NOT TRUST THIS COMPANY THEY ARE LIARS AND WILL LEAD YOU TO FALSE CLAIMS AND THEM WHEN YOU DO FIND SOMETHING AND PUT MONEY DOWN THEY DO THIS WILL CAUSE YOU TO LOSE YOUR DEPOSIT BUYER BEWARE OF THIS COMPANY!
BUSINESS OWNERS BEWARE OF THIS COMPANY!
1 Updates & Rebuttals
Thomas
Louisville,Kentucky,
United States
Loan Approval process
#2REBUTTAL Owner of company
Mon, August 06, 2018
Thank you for taking the time to explain your situation. We go to great lengths to effectively communicate both by email & phone to all conditionally approved applicants. The initial approval is conditioned upon stipulations being met for the bank to verify information submitted online. It is common for the lender to want proof of income to substantiate the amount listed on application as this is of vital importance in qualifying for the loan..
These are not stopping blocks to moving forward with the loan. The assigned loan officer would discuss in depth where the applicant is in their buying process. If they are conditionally approved and have not selected a unit yet, we encourage them to find one as this initial approval has an expiration date. Under no circumstances do we tell the customer to put a deposit down. It has never been a part of our directions and if asked, we advise the customer to make sure it is a refundable deposit/down payment.
While the customer is finding their unit, we ask them to send in the stipulations the bank has requested. These are remitted for final approval, which gives the green light to close the loan with the customer if they have found their unit. A very small percentage of initial approvals are declined because the information supplied is a mismatch or unproved. When it does occur, we have a dialogue with the bank for a possible work around.
We have been in business since 2003 and have an A+ rating with the BBB. Sometimes situations are beyond our control. If an applicant can’t prove to the bank’s satisfaction their income, it would unfortunately turn into a declined status.