• Report: #1146745

Complaint Review: Sovereign Lending Solutions

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  • Submitted: Wed, May 14, 2014
  • Updated: Wed, July 09, 2014

  • Reported By: UPSET — Schwenksville Pennsylvania
Sovereign Lending Solutions
Nationwide USA
  • Phone: 855-221-3282
  • Web:
  • Category: Loans

Sovereign Lending Solutions Title Loan America TITLE LOANS ONLINE Nationwide

*General Comment: I am in NC and would like to join suit

*General Comment: I would like to be a part of a class action suit.

*Consumer Comment: Making money off poor people with bad credit is just criminal

*Consumer Comment: Class Action Lawsuit

*Consumer Comment: Class action lawsuit

*Consumer Comment: MORE Lawsuits

*Consumer Comment: Me, Too. Car Loans LLC/Sovereign Lending LLC/Title Loans America

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For every person that has dealt with this corrupt company. We need to all contact each other and start a class action suite!!! I am going through the same things other have reported. When I first contacted this company I was to received $1500.00 however I only received $900.00. I have been paying over $300.00 a month for over one year now and now they are telling me I will owe a ballon payment of over #2900.00 in August. I was very irrate to find out the amount they have as borrowed is different then what I received. nI have faxed over proff over a month ago and now have to fax it over again. For some reason they are now stating I need to fax all my payments I have made are not realy interested in the amount they sent. I then was told I on top of what is due each month even when I have paid the late fees owe $10.00 a day for each day I was late. mI almost lost it! I said if my normal amount is this and I pay way over that when I am late then why and I charged a late fee and now you are telling me you are charging me $10.00 a day on top of my normal payment and late fee I pay each month. The rep replied that is correct! I told him I understand most of the laws that have been recently updated and this is beyound illegal! He reply" I know the laws too". I had them send me copies of the paperwork they stated I signed. I have to tell you they DO NOT MATCH my orginal paperwork I signed!!! I then asked to have them resent and the rep refused sending them to me!!! He stated I have to send them copies of all my payments first. At this point I will have my attorney review them to show how much I have paid, show them my original paperwork that doesn't state PAWN ticket on it anywhere. I told them when I first contacted the company I was calling a company called Title Loan America. I then received paperwork from Soverign Lending Solutions, now they changed their name again!!!! My attorney is printing out the new laws on Pay Day loans and title loans and he all but laughed at what was told to me. He has never heard of being charged such high interest, late fees and then a $10.00 a day late fees at a later date and just crazy ballon payments. He stated if what I am stating is true and if it happened to others this is going to turn into a class action suite. I am going bank to the bank first thing tomorrow morning to show the amount I received, the amounts I have paid from all our different accounts and take it to the attorney before I fax one document. The attorney stated if they take my truck from any reason at this point we will sue for time I miss from work, emotional stress... He also stated he will make copies to report this company to the appropriate agencies. He stated after investigating this company and issues they are going to be having issues with all sorts of agencies since comments have been investigated and found all sorts of things from fraud, changing of paperwork, legal interest rates and fees.... I was hoping this company would correct this issues and honor my original agreement but seeing all the other comments and knowing agencies are going to be going after this company I don't think they intend to correct anything. If their is anyone out there interested in a class action suit please, please contact me. 


This report was posted on Ripoff Report on 05/14/2014 03:49 PM and is a permanent record located here: http://www.ripoffreport.com/r/Sovereign-Lending-Solutions/nationwide/Sovereign-Lending-Solutions-Title-Loan-America-TITLE-LOANS-ONLINE-Nationwide-1146745. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 General Comment

I am in NC and would like to join suit

AUTHOR: Rick - ()

I am in North Carolina and would like to Join the suit, anyone with info if there is one in my State?

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#2 General Comment

I would like to be a part of a class action suit.

AUTHOR: susan - ()

My "balloon paymen" which was not in my original contract is due in august also. Of course I do not have $2000.00! I am disabled and if I lose the car I can't leave to get food or Drs. I had a $1,500.00 loan and have paid back almost $5000.00 already. I need help fast! Please contact me at: (((email redacted)))

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#3 Consumer Comment

Making money off poor people with bad credit is just criminal

AUTHOR: Justice - ()

I paid my $3,000 of which I recived $2750 (due to a ridiculouse fee) loan off for a year at $514 a month for a total of $6168! Then after a year on what I thought was to be my last payment (The Balloon Payment) I owed $3400 and change due in 1 payment! I freaked out! How could this be I have paid over 100% of the loan back and them some $3418 and I still owed these rotten people $3400. This is when my low testoterone syndrome kicked in and I just cried like a baby! The reason I had to get the loan was because my wife keeps giving all our rent money away to her heroin addicted son leaving me no other choice than to go to the pawn shop or payday loan since my credit is horrible do to the same drug addicted scammer! So I jumped through all the hoops signed the paper work and saved us from being evicted again while fending off her stupid kid and trying to teach my wife about being in debt and what happens when you give money away, and have to borrow more money at a poor mans high intrests rate! So I told the new loan people Car loan LLC, (weird how the name just suddenly changed after a year) and said "Come take the truck this is just not worth it" After that they connected me with a supervisor who I basically begged to stop the insane loan and let me out of it...He agreed to let me pay the payoff of $3400 at $618 a month till September 2014. How kind of him which is $9500 for a whopping profit of roughly $6750. I just can't wait till I am done with these people...However, I would be interested in finding someway to get some of my money back or at least seeking justice for extraordinary fees and harrasment from employees not knowing how to do their jobs! The first 7 months of paying this loan was daily calls from their employees trying to tell me I was late on my payment because I changed my due date 7 days to avoid making late payments, funny huh? Well what happened when I did this was I had to pay some sort of interest for changing the date that added up to $275 so even though I made my $514 payment  on time they would always think I did not make it. I know I have been sarcastic and complained a lot the fact is I knew I would have to pay for this loan and I though I read everything on the paper before I signed, being desperate is no excuse I should have just taken the eviction would have been cheaper!

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#4 Consumer Comment

Class Action Lawsuit

AUTHOR: Phephe - ()

 I would love to be a part of the class action lawsuit against TLA/ Sovereign Lending.  They are a ripoff.  By the time I finish paying my $1500.00 loan, it will be $5401.00.  That is not the loan I agreed to.  I have saved every email from the time they were TLA to Sovereign Lending. 

My loan is dated Nov. 12, 2013 but they did not receive a title from me until maybe three weeks later.  Why would I agree to 247.65%?  With that much time on my hands, if they were honest, they would not have received my business. 

I do believe they forged everything I had because it took them too long to fax me a copy of the contract.  Why would they agree to a loan with me when my title was not clear?

If there is a class action lawsuit, count me in.

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#5 Consumer Comment

Class action lawsuit

AUTHOR: Marie - ()

We are more than happy to be in a class action lawsuit. We even tried to settle with Title Loan America or what ever name there using now. They came to pick our truck up again that's in the shop we can't hardly afford that. We're trying to pay the repair bill off for it. I know we paid our loan off and then some with all the late fees.  What surprised us the repo driver went under our gate with no trespassing signs to walk up to our house one brave soul where we live. Of course the truck isn't around to be picked up we let him know we had litigation against them and we paid the truck off. He didn't know who they were because they changed their name from the old one or wouldn't have come. Pawn Title Loans are illegal in our State and they are not supposed to honor repo orders from those companies. That's one reason they keep changing the name. Your also not allowed to go on properties here with no trespassing posted here.  I don't know how we'd get in contact but we're with you on this. 

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#6 Consumer Comment

MORE Lawsuits

AUTHOR: JoanneinCO - ()

In doing more research to send to the Colorado Attorney General's office, I see why I'm not getting a response from Car Loans LLC/Sovereign/Title Loan America. Two more lawsuits! One was filed in January 14 in PA:

http://philadelphiadebtclinic.net/yahoo_site_admin/assets/docs/complaint_with_exhibits-time_stampped.38151805.pdf

And another filed in March 2014 in Oklahoma:

http://www.rfcexpress.com/lawsuits/other-contract/oklahoma-western-district-court/744733/sarah-decker-v-rs-financial-services-llc-sovereign-lending-solutions-llc-william-mckibbin-andrew-schwartz-and-lac-vieux-desert-band-of-lake-superior-chippewa-indians/summary/

 

Yay! There's hope!!!

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#7 Consumer Comment

Me, Too. Car Loans LLC/Sovereign Lending LLC/Title Loans America

AUTHOR: JoanneinCO - ()

Count me in.

Similar situation. Asked for the payoff on a loan taken out August 2013 after a year of payments of $415/month and told I will need to pay over $2,500 come August to complete my loan - the original loan amount was $2000.

So, after seeing the company changed names AND locations (the statement from Car Loans LLC shows The Cook Islands), I contacted the Colorado Attorney General's office. They have already begun an investigation into Sovereign Lending, and have asked me to provide all other information I have.

Investigations have also already begun in New York and Michigan (where Sovereign was supposedly based). See below for relevant articles regarding the other investigations and potential lawsuits:

http://wivb.com/2014/04/03/new-york-ag-cracking-down-on-title-loans/

http://www.mcnowick.com/firm-engaged-in-putative-class-action-lawsuit-against-title-loan-america-usury-scheme/

 

After I begun CCing the Attorney General's office on every email to Car Loans (in requesting online access since the old website was shut down, requesting payoff, etc.), I received a phone call from Mark Weiner (the COO, who must be so embarassed of the actions of he and his company, he doesn't even list the company he works for on LinkedIn, but we all know better). In his email and voicemail, he asked me to call him (because, in his words, we have talked multiple times in the past [they attempted to repo my truck once because they failed to update my checking info though I called in a new account] and I am a highly "valued customer" because this is the second loan I've taken out from them -- the first one I had for less than 6 months so didn't scoff when my payoff was close to the initial loan amount]) and said Car Loans is the new servicer. I asked why customers were not notified of the change (in the mortgage industry, as mandated by Truth in Lending, consumers MUST be notified of a new servicer...this loan is no different).

I saved the voicemail and sent an email requesting they do not call me (as permittited by Federal law for consumers to request creditors not to call) as I want to only be contacted by them in writing and also requested all documentation regarding my loan and an accurate payoff. I have yet to hear back since Mr. Weiner's initial phone call.

So, at this point, I am cooperating with the Colorado Attorney General's office and am definitly interested in being involved with a class action lawsuit. Clearly, this company and its principals are up to no good, and it's time the law gets involved to make it right for all of us who are overpaying and all those who have already lost their vehicles and thousands of dollars....

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