Complaint Review: World Business Lenders - Jersey City New Jersey
World Business Lenders WBL WBL added $100k to my payoff and lied about enormous fees! Jersey City New Jersey
*Author of original report: Helping
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I had several loans from WBL after a broker referred me and was paid for the referral. Soon after I was told that they could do much better rate on another loan. The income wouldn't pay the payment for long but since I was told that in 3 months of paying it on time they had a lender that could get me around 7 to 8% interest on 80% Cash Out loan. After they worked with me they restructured my payment but added even more money that I would pay if I had waited the whole time to pay off the loan. Since their new lender that they referred me to took my upfront fee then never contacted me again I was stuck and did not know what to do. Even though one loan was supposed to be $205,000 if I pay it back in 12 months and now they are telling me the payoff is $237,000. This is even paying it off in a matter of three and a half months. I have two other loans that they added a ton of interest on to it. Now I have a chance to refinance to a much lower rate and they have not reduced my payoff and it is $100,000 more than what it would have been a little over a month ago even though I have put $30,000 toward it in the last 35 days. I have filed a complaint with the attorney general and have tried to talk to someone there for a week and have had no response. The last response was they were going to take this situation before the board and see what could be done. According to my calculations my payoff should be around $370,000 and they are saying it is almost $500,000. I haven't really even gotten into detail what they did in the beginning as far as giving me the loans and lying to me about the fees.
This report was posted on Ripoff Report on 11/28/2016 12:17 AM and is a permanent record located here: https://www.ripoffreport.com/reports/world-business-lenders/jersey-city-new-jersey-07302/world-business-lenders-wbl-wbl-added-100k-to-my-payoff-and-lied-about-enormous-fees-jer-1340141. 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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#1 Author of original report
Helping
AUTHOR: - ()
SUBMITTED: Monday, November 28, 2016
I spoke to someone today that is trying to help me out and I will have an update tomorrow at 10 a.m.


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