Complaint Review: Sovereign Lending Solutions

I have used this company, in fact I will be paying off my "loan" today. I have never had an issue with this company and I have used them since 7/2013. If I knew I was going to be late on a payment, I called them and notified them and they worked with me.

That happened twice, one was a bank issue and out of my control back in Oct 2013. And the second time was recently in Dec 2013 and with that my car was towed, so it was either pay the loan or the towing fee. I called them explained the situation, they marked it on my account that I would be paying and the date that we agreed upon, both times (although with the one in Oct, I did have to change it because of bank complication) and that was that.

I did receive a phone call alerting me that I did have a payment due for the one in Oct, and I was a little upset at the time because I felt that calling me to remind me when I just made arrangements was borderline harassment. But the guy explained that it was a courtesy call and that they were under NO obligation to do so. But that they prefer to make arrangements so that you can keep your car. 

The terms of the loan are outlined in the paperwork that you sign. It was clear as day to me, and even the agent I talked to outlined everything. They are available 24/7. Even if the billing department closes, or is closed and you need to make an arrangement, email them. I did that the first time, I knew I was going to be late, after I missed the billing department by 30 mins. My email was answered within 20 mins of sending it, and it was also forwarded to the correct party. 

I can aslo say that this company has provided me with emails, every step of the way. When I have made a payment- I get an email. When I am late (computer updates late)- I get an email. When a payment is due- I get an email. They give multiple reminders when they shouldn't have. And they have a website that you can use at any time. 

If you use your only means of transportation as collateral, then make sure you are able to repay what you took. Otherwise, don't complain. It's no different than going to a pawn shop, and pawning a priceless ring, not making payments on it for 90 days and expect it to still be there on day 91. 

Not making your payments, does not make this a rip off company. Ripping you off would be, raising your interest rates 3 months into your payents. Or after you pay off your loan, you do not get your title back and they still claim you own money. You not holding up your end of the bargain which forces them to repo your car (which was explained in the paperwork you signed as well when you were contacted by an agent), is not a rip off! Use this experience as a lesson learned. It sucks you went through this, but honestly it's not their fault, it is yours. 

  They don't send you any emails nor do they call you to tell you that they're coming to repo your vehicle.

- And just why would they do that?  So you can hide the vehicle?  Or perhaps you are saying that "Only if they called me I would have made my payment".  Well guess what..you KNOW you are behind and as an adult you should be resposible enough to make the payments when you know they are due..not whenever you feel like it.