Report: #408654

Complaint Review: Ripoff Report | The Loan Consultants

  • Submitted: Tue, January 06, 2009
  • Updated: Sun, June 15, 2014
  • Reported By: Anonymous California
  • The Loan Consultants
    4201 Wilshire Blvd, Suite 501
    Los Angeles,, California

The Loan Consultants, Inc. REVIEW: The Loan Consultants clients, feel safe, confident & secure when doing business with a company dedicated to success of clients. The Loan Consultants commitment to client satisfaction, exceptional client experiences & overall success is unmatched. Commitment to Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction & confidence when doing business. Boston, Hartford, Los Angeles, Stamford, Toronto, Washington, D.C., Vancouver
*UPDATE: The Loan Consultants recognized by Ripoff Report Verified™ as a safe business service.

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Ripoff Report Verified™ REVIEW:

EDitor’s UPDATE: Positive rating and recognition has been given to The Loan Consultants, Inc. for its commitment to excellence in customer service.

Ripoff Report’s discussions with The Loan Consultants have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. The Loan Consultants listens carefully to client concerns and sees them as an opportunity to learn from the past and become more efficient as a company in the services offered and the support for those services.

The Loan Consultants management team has informed us that their personal philosophy is to view clients as a precious resource. [continued below]....
..... Since 1983, the management and staff have worked tirelessly to establish a reputation for customer satisfaction that is the envy of their industry. The Loan Consultants believes that always putting their customers first is the foundation for a successful enterprise both now and in the future.

In conducting personal interviews with The Loan Consultants Executives Ripoff Report discovered their business philosophy is based on the premise that strives to “provide full disclosure to their customers and never make promises that we cannot keep. We recognize that our program is not for everyone and we thoroughly screen all candidates to ensure they are a good fit”. The Loan Consultants mission statement says it all: "To maintain our position as the premier Loan Broker training organization by providing the best quality training, support and customer experience available”. One of the other things Ripoff Report learned in the course of its review is that typical customer feedback reads: “The Loan Consultants and Mr. Toolan really took their time and allowed me to get all of my questions answered without ever feeling pressured to buy. Overall, I am very pleased with my decision to join and excited about the opportunity.”

The Loan Consultants is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..

The information provided in this report below is based on comments made by Dan Alaniz during an on-site inspection held by a third party verification company with no biases toward The Loan Consultants, Inc.

The Loan Consultants, Inc. is a company specializing in developing a network of third-party individuals who can go out and represent consumers and business owners at the closing table. “The basic business model… is to provide the best opportunity for what they need. The Loan Consultants’ vision started with people who were looking for residential mortgage financing. As the market grew, the business evolved into business financing about 20 years ago,” explains Dan Alaniz, a representative of the company. Leads for The Loan Consultants are typically acquired through their business website, which has search engine optimization that drives customers to The Loan Consultants website, based on the search they entered. “We also invest heavily into print publication [advertising],” in publications such as the Wall Street Journal, USA Today, and Success Magazine, explains Mr. Alaniz.

A typical customer experience begins with an introduction to The Loan Consultants’ program, including a synopsis of what they do and what they can do for the customer. The synopsis is then followed by a brochure and video, if the customer expresses interest. “If the person is not interested, we want to know immediately, so we do not waste their time. We only want to work with people who really want to do this. [We] see if as a partnership between us and them. It is the very reason we have been in business for 31 years,” states Mr. Alaniz.

THE LOAN CONSULTANTS, INC. Customer Care & Complaint Resolution

Mr. Alaniz states that, fortunately for his business, customer complaints do not occur too often. “It has been a year and a half since we have gotten our last complaint,” he explains. When a complaint is lodged against his company, though, Mr. Alaniz explains that they do have a resolution process in place. “It initially ends up with the support personnel department. From there, it comes to me directly. As the principal, I refer to myself as the promise keeper. I handle all clients’ issues directly,” he states. The first step of the process is to immediately contact the customer directly and try to understand their issue, to ensure that there isn’t just a simple misunderstanding. The staff at The Loan Consultants strives to always listen to their clients, note everything that occurs in the process, and ensure that the client feels he or she got what they paid for. “The client is always receptive due to the detailed notes our staff takes in the process of the program including their goals [and] conversations. If something does come up, our staff can go back with the client and review conversations and the contractual agreement that was signed in the process of joining our company,” states Mr. Alaniz. “We are always willing to listen and retrain, [or] give a partial or full refund, if needed.”

Once a complaint is resolved, The Loan Consultants employ a follow-up procedure to ensure their clients’ continuing satisfaction. The staff at the Loan Consultants also continue to follow-up with their clients once they finished the training for the program, to ensure that they will have success. “The clients are implementing the skills that were taught in the program. In case of a misunderstanding, we redirect them and make sure they are following the necessary steps to their success,” explains Mr. Alaniz. The training program includes a three-day training session at the office of The Loan Consultants. Once training is complete, the clients also have access to a library of training information that can be accessed through a program or through support sites. A support team is also provided to the clients, to offer support for the life of their business, after the client pays the one-time fee.

In response to a complaint posted on Ripoff Report, Mr. Alaniz states that the complaint came from a former client who was seeking to get his money back. “It was not due to him being unsuccessful… He made an unreasonable demand that we give him a full refund and support him for the rest of his life as an affiliate. If we did not do what he asked, he would seek to damage our reputation. We eventually went to litigation, in which The Loan Consultants prevailed. The individual went to Ripoff Report and opened multiple profiles, filing complaints against us,” he explains. Since receiving the complaint, the team at The Loan Consultants has taken measures to try and avoid the situation in the first place. “One of the things we instituted was an interviewing process where we get directly involved. In the past, we would assume that you were the quality person we are looking for. We ask for multiple references for people we put into business and we provide our references to ensure it is a good mutual business relationship,” explains Mr. Alaniz.

Mr. Alaniz and the team at The Loan Consultants recognize the value of working with Ripoff Report and the Corporate Advocacy Business Remediation and Customer Satisfaction Program, and the platform it provides for businesses and clients to interact and resolve issues. “Ripoff Report gives you the opportunity to get your say in the matter. It’s an important step in our process in getting control of our reputation. Our reputation is very strong and we want people to know and understand that. The opportunity to partner with an organization that provides a mitigation process to deal with complaints is wonderful,” states Mr. Alaniz.

THE LOAN CONSULTANTS, INC. / Statements from the owner.

"I find it to be very personally satisfying when I see someone that has no finance background but, by following our system, they are able to achieve success as a Loan Broker.” Dan Alaniz, President

The Loan Consultants team have expressed that they feel very confident in the quality of training and support they provide. A Senior Manager at TLC stated, "I really have to take my hat off to our training team. They do an excellent job of breaking down the different financial products so that anyone can understand them. I have even seen our company President, Mr. Alaniz, get personally involved in training and even helping affiliates review their deals.”

The Loan Consultants, Inc. believes employee satisfaction is an equally important component of a well-run company. They pride themselves on the fact that their employee turnover rate is among the lowest in their industry. Their current staff averages more than 4.5 years of service with the company. A major reason for their employee retention is the company Presidents’ open-door policy that encourages employee feedback. The fact that their management team regularly shares their affiliate success stories with the entire staff shows our employees the direct impact their efforts are having on peoples’ lives and fosters a positive work environment. Ripoff Report was pleased to learn The Loan Consultants past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction. ~ National Equipment Leasing

THE LOAN CONSULTANTS, INC. Lender Testimonials

"I want to extend congratulations to you for completing The Loan Consultants Business Finance Consultant training program, and for making the commitment to yourself to become a successful financial broker. I can assure you that the training that you have received is second to none. You now have a solid foundation to understanding of the finance world and significant opportunity to earn commissions. We wish you all the best, and look forward to working with you to continue your 'on the job' training and closing deals. Once again I want to extend my congratulations and I am confident that you will find your relationship with The Loan Consultants as professional and enjoyable as we have.” ~ National Equipment Leasing

"Congratulations on successfully completing The Loan Consultants training program. We wish you much success with your new business. The Loan Consultants have been an approved broker with our institution for a number of years, and any new company that completes the program is approved as well. As an approved broker, we can get right to work. You're already approved, so we can immediately start qualifying your borrowers and properties.” ~ National Bank

"We have processed millions of dollars of real estate loan requests from the Certified Loan Brokers you have established. We have funded many of their loans and feel you should be complimented on the professional training and guidance you provide these loan companies. I have updated and attached a Broker Loan Referral Agreement to be a signed by each of your Certified Loan Brokers to assure them access to our funding lines and guarantee their commissions.” ~ National Mortgage Banker


The Loan Consultants, Inc. recognizes that all companies will receive complaints at some point. However, their stated goal is to be proactive and prevent complaints before they occur. With the feedback generated by Ripoff Report’s Investigation, The Loan Consultants, Inc. has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience. They are also committed to full disclosure and have added additional steps in their client interview process to ensure people understand that they are not a get-rich-quick scheme. They also pride themselves on the fact that they currently receive less than one complaint per year. While this is an exceptional track record, the company still believes that all complaints, including any posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. The Loan Consultants understands that, if handled correctly, complaints can be valuable learning opportunities.

In summary, after our review, which included discussions with The Loan Consultants senior management, Ripoff Report is convinced that The Loan Consultants, Inc. is committed to the highest quality in customer care and delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer.



The Loan Consultants The Loan Consultants: Facts or Ripoff. After two years I am convinced that Ive been taken Los Angeles, Ca 90010Los Angeles, California

I signed up two years ago with The Loan Consultants. They represented that they fund loans or LC Mortgage would. That the programs and loans were plentiful, given the tightening of lending in the country. They represented that the reason so many brokers are shutting down their doors is because they do not know which lenders to contact and that is where their service comes in.

They represented that their technology allows you to submit loans electronicly. This technology is theirs. After obtaining my $11800, they informed me that the name of the software is Point and by the way, it costs another $550.

They represented that the field of equipment leasing and Factoring is virtually untouched and has a great deal of promise. After being in this business for a bit over a year, I can tell you that this business is not only not untouched, but it is almost non existant. Most people in business would simply do a search on leasing and moillions of results pop up. By dealing direct a business would save thousands of dollars every year.

They represented that they will assist in filing the state application. They represented that it was extremely difficult and I would need their help. Folks, Have you ever filled out an application where they asked you your name, address, phone, you know. The super simple stuff. They told me where to put my name. Now that is worth $11800,.

They represented to me that the wholesalers they will put me in touch with, will be able to beat the bank's rates and with less stringent conditions. After signing up with them, I asked them where should I take this client's potential loan. They replied: "Wellls Fargo". After paying $11800 I got the name of the corner bank. Now is that not worth the money?

The most important is that they said that the loan business is always changing and they will send a newsletter quarterly that updates and guides as far as market trends. None was ever mailed. Since two years ago the loan business has gone through a major change and these people left me stranded on an island.

With about a thousand pages of useless material that will take anyone months to read and about six months wait to go through licensing, they will make sure that the one year period in which you may return the product passes before your eyes. By the way I have proof for every thing I have said here.

I have filed an official complaint and very likely would like to file a Law suit if they do not refund my $11800. If there are any one out there that would do the same or has already, I would love to hear from you and coordinate an effort to wipe the country from scam artists as such. I said my name is anonymous below, but will coopreate with any one that will cooperate with me.

Anonymous, California

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This report was posted on Ripoff Report on 01/06/2009 11:25 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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Updates & Rebuttals


#1 REBUTTAL Owner of company

This Is a Legit Company...NOT A scam!

AUTHOR: The Loan Consultants - (United States of America)

As the nations oldest and largest Loan Broker Affiliate company, The Loan Consultants, Inc. flatly rejects the accusations that our company is a rip off. Unlike other companies that have attempted to copy what we started, we are a licensed, registered business opportunity company, fully compliant with the Attorney Generals office and have been establishing successful affiliates for nearly three decades.

The Loan Consultants is also NOT a get-rich-quick scheme and thoroughly screens every candidate before they are allowed to join our program. This includes extensive question and answer sessions, interviews with company managers and reference checks. As a result of these efforts we have been able to establish more successful affiliates than any other company in our industry.

On the rare occasion when a client does express a concern we immediately address their issues and do everything possible to help them achieve success, as was the case with this client. Unfortunately, this person made accusations that were completely unfounded and unsupported by our documents and phone records, and demanded that we provide services that are not contained in our contract. He also demanded that we refund his investment but, continue to provide our consulting services. After refusing his unreasonable demands this person chose to litigate and made these same accusations in court. THE JUDGE REJECTED HIS ARGUMENTS AND RULED IN FAVOR OF THE LOAN CONSULTANTS STATING WE DID COMPLY WITH ALL TERMS OF OUR CONTRACT. This person then filed a complaint with state authorities WHICH WAS ALSO REJECTED.

After failing in court and with the state, this person then took to the internet with the intent of damaging our reputation. We have documents in our possession that prove this client is responsible for posting complaints under multiple profiles on this site. We ask anyone reviewing this information to consider these facts as well as the fact that this site has allowed competitors, and people who are NOT clients to post complaints here.


The Loan Consultants, Inc.

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#2 Consumer Comment

still there

AUTHOR: I have been F>>>ED - (USA)

just checking on this company...seems like they are still at it! although their ads are much smaller.....Probably means they are making less money....which is good....People this is a dying industry.....With Obama as president there will be alot more oversight which means the days of brokers are limited.....STAY CLEAR! SAVE YOUR MONEY! GO ON VACATION MUCH BETTER INVESTMENT!
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#3 Author of original report

More facts

AUTHOR: Bbb - (U.S.A.)

Recently got copies of lenders from The Loan Consultants. About half of them were out of business and the other half did not even know who The Loan Consultants are. The lenders I spoke to expressed that they have no knowledge of them and wondered why they claimed to have agreements in place with them. Most of these lenders are under federal guidelines as far as who they will accept and their own experience requirements (2 yr minimum). The Loan Consultants are nobody and the names they throw at you are easily obtainable from Google. The training is not accredited and they are not licensed to do so. If you sign up with Anthony's or Kaplan you will pay about $400 for accredited training and a license from the State of California.

If you have complaints regarding The Loan Consultants you can always contact California DA office in Los Angeles, California Dept Of Real Estate of The Federal Trade Commision.

Consider yourself lucky if you are reading this message and you are contemplating giving these people a huge sum of money. Many have advised for beginners to go and signup with an established Broker to learn the ropes first and I concur. You will find out that now a days the percentage you pay a Broker is well worthed given the complexity of lending now a days. Do not be fooled by the 100% payout.

The fields of equipment leasing and Factoring and Business lending is extremely complex and The Loan Consultants make you think that it is an easy field to enter and prosper in. The actual fact is that Leasing and Factoring business is usually conducted without a middleman. The reason is that both the leasing company and the client are placed into higher payments because of the middlemen and as a result both the lender and the client will try to cut out the middleman.

The Loan Consultants fails to tell people that there are several other softwares that you have buy. These softwares can cost several thousand Dollars combined. Be ware of these scammers.

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#4 Consumer Suggestion

The New laws

AUTHOR: I have been F>>>ED - (USA)

I n case no one has noticed....a whole bunch of new laws are being passed.....this will most likely have the effect that individual brokers will be put out of business....If I was sinking 14k into this I would read the new laws very carefully!
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#5 Consumer Comment

Read this

AUTHOR: I have been F>>>ED - (USA)

these people are hurt, but no one cares at the Loan Consultants!
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