OneMain Financial is not to be trusted no matter how good the deal sounds.I'm already a struggling single mother and I wish I had done more research on them before allowing them to sucker punch me financially into near ruin.
One Main Financial did not honor their check for a personal loan after already filling out a contract and telling me I was qualified. On February 4th, 2012 I contacted One Main Financial located at 4621 S Meridian St East, Suite A 815, Puyallup, WA 98373 after receiving a pre-qualified letter in the mail. They ran my credit over the phone then told me that I was qualified to receive a personal loan of up to $4500.00 and that the soonest available appointment was on February 6th at 10am. On February 6th I brought in all the additional documents that they required for verification and signed their contract agreement for a personal loan of $2000.00, (I did not require the full $4500 allowed).
They gave me a check for the amount of $2000.11 and informed me of the interest rates, one time 4% fee and payments. I deposited the check into the bank the same day and thought all was fine. My bank holds all checks for at least 24 hrs and this one was no different so I did not use any money until I was sure it cleared with my bank. Once the check cleared over the weekend I began making payments and purchases for the things that I needed to pay thus the reason for getting the loan.
On Monday morning February 11th I received a text message from my bank stating that I was overdrawn $2000.11. I thought my heart stopped beating. I immediately checked my bank account online and saw a note stating "Deposited Item returned item chargeback refer to maker". I called my bank to ask what happened and they informed me that the check from One Main Financial was being withdrawn from my account because One Main Financial had put a stop payment on it.
When I called to speak to One Main Financial the original person that handled the loan, Melissa, immediately passed me on to her supervisor Dave who then informed me that they would not honor the loan because they could not verify my employment even though I provided them with current paystubs, employer phone numbers and even offered my current W-2s. When I asked why they even wrote me a check in the first place if they had not verified all the information that they were required to he could not give me a clear answer. When I asked why no one called or left me any messages during the past 5 days about the problem again he would not give me any clear answers. I confronted him about giving me a check first without following his own company policies of first validating my information which I had given them 2 days in advance and still he would not come clean about the shady loan.
Finally I asked him what he expected me to do now that my bank account is $2000.11 overdrawn and about to incur twenty or so $35 insufficient fund fees. He said if I could bring in some other form of employment verification that he could qualify me for an even larger loan to cover my expenses and incurred fees. Now why would I want to sign another contract with a company that didn't even honor the original contract and why would I pay them extra to cover fees and expenses that they caused? Since he could not give me any clear straight answers I asked if this meant that the original contract was void and he said yes so I ended the conversation.
Several hours later Melissa, the original person who gave me the loan, called back and said that her manager told her I would be coming in to reapply for a larger loan and asked when I would like to come in. I told her that they had caused enough problems and that I had no interest in do any further business with her company. I have informed my bank of the problem and my situation and they said I have 45 days to pay the negative balance and fees. Obviously I am very displeased with One Main Financial and there business practices and I still do not understand why no one from their office called or left a message and even more suspicious is that they would even give me a check and let me walk out the door if they very well knew something wasn't verified and it was against their own policy.
Now instead of getting the relief I needed I'm in even bigger debt and as a single mother with only one minimum wage part-time job already struggling to get by now I'm even worse off. I reported OneMain Financial to the Better Business Bureau this morning.
If nothing else maybe it will serve to protect other people from getting scammed.This company is not to be trusted.
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