• Report: #1154973

Complaint Review: sovereign lenders

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  • Submitted: Sun, June 15, 2014
  • Updated: Sun, June 15, 2014

  • Reported By: susan — cincinnati Ohio
sovereign lenders
Nationwide USA

sovereign lenders I am on social security disability and I have a child. I took out a $1,500.00 loan in aug. 2014 because we needed a place to live. I have been paying them $317.00 a month. I was so excited that my loan would be paid off this august, but when I contacted them about sending me a copy f my contract, they stated that there is a $2000.00 balloon payment due in august. I did not agree to that! I need help fast! I need my car to bring food into the house because I can't walk. Please help me someone! we needed a place to live. I have been paying the loan every month at $317.00 a month. I was so relieved that the loan would be paid off this august, but when I contacted them for a copy of my contract, it has a balloon payment of almost $2000.00 Nationwide

*Author of original report: Count me in for a class action suit too!

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I need help fast! I am on Social Security disability and I have a child. I am widowed. On August 2013 I had to do a title loan from Sovereign because we wee about to become homeless. I took a $1500.00 title loan from them. I have been paying $317.00 a month which has been hard to come up with, but I have never been late. I was so happy to think that in August 2014, my loan would be paid off. I emailed them asking for a copy of my contract and saw that in August, I have a balloon payment of almost $2000.00! I am just sick. That is way more than my monthly income! They are charging me around $6,600.00 for a $1,500.00 loan! If I lose my car I can't bring food home since I can't walk. I did not sign the contract with the balloon payment electronically or otherwise. I need help! Can someone help me?   Susan Cincinnati, Ohio


This report was posted on Ripoff Report on 06/15/2014 12:37 PM and is a permanent record located here: http://www.ripoffreport.com/r/sovereign-lenders/nationwide/sovereign-lenders-I-am-on-social-security-disability-and-I-have-a-child-I-took-out-a-1-1154973. 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 Author of original report

Count me in for a class action suit too!

AUTHOR: susan - ()

I am going through the same. I took out a $1,500.00 loan in august. I have been paying $316.80 a month for 11 months. Next august should have been my last payment of $316.80, but according to Sovereign, I now have a balloon payment of $1,916.00 due.  That was not in the contract. I cant pay that all at once, and I am disabled so if they take my car, I can't leave my apt. for food or Drs. I need help! If you can help, please email me at jengrms@gmail.com 

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