ED Magedson – Founder
Sovereign Lending SolutionsNationwide USA
Sovereign Lending Solutions Title Loan America TITLE LOANS ONLINE Nationwide
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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