ED Magedson – Founder
Loan Payment Administration855 Lower Bellbrook Rd. Xenia, Ohio USA
Loan Payment Administration Nationwide Biweekly Administration Predatory and misleading solicitation as well as misrepresentation Xenia Ohio
I'm not seeking any retribution against the company listed above so I'm not sure that I'm at a sight that posts reviews of businesses that conduct themselves as described above.
Tha being the case, I won't go into a lot of detail accept to say that in early April of this year, their shoddy marketing practices roped me into an arrangement to make bi-weekly mortgage payments to Wells Fargo through NBA's services.
Shortly thereafter, in "closing the barn door..." fashion, I contacted Wells Fargo and found out that they provide the same service without charging an administration fee.
When I contacted NBA to cancel their services, they informed me that I would relinquish my administration fee of $130. Because I had only made two payments using their service, they agreed to refund half of my registration fee.
I just received another solcitation letter from NBA. I notice they changed the wording to make it less deceptive. The letter now begins, "Wells Fargo Bank NA may not have made you aware of the option to setup a smaller biweeky program payment option for your mrtgage loan." On the envelope it now states that, "Loan Payment Administraion is not affiliated with the lender."
But there is still this, "Contct us if you want to change to the biweekly option..." "...If you decline the biweekly option, you will be asked to confirm to confirm that you understand that you are voluntartily waiving the interest savings and loan reduction achieved with the biweekly option.
At the bottom of the letter it states "...is not affiloiated with, connected or associated with, sponsored or approved by the lender listed above."
I'm guessing these changes were not voluntary.
This report was posted on Ripoff Report on 12/02/2013 04:48 PM and is a permanent record located here: http://www.ripoffreport.com/r/Loan-Payment-Administration/Xenia-Ohio-45385/Loan-Payment-Administration-Nationwide-Biweekly-Administration-Predatory-and-misleading-s-1103736. 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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