| 08/11/2023 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
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- Charged fees or interest you didn't expect
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Web |
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XXXX XXXX XXXX XXXX XXXX XXXX made contact with XXXX XXXX on XX/XX/XXXX of XXXX for a possible loan agreement. XXXX received a message about a possible loan amount and as we didn't need that much of a loan. XXXX agreed to a {$10000.00} loan amount.
XXXX has made 8 payments and at that point was called by XXXX XXXX another account manager to see if we needed more money. We didn't like the calls of asking us for more loan. So XXXX just wanted to pay off the balance owed which is {$7100.00} after making 8 payments weekly of {$350.00}.
on XX/XX/XXXX XXXX XXXX looked at the Loan account and noticed there's a problem in this loan with unexpected fees that were not disclosed or clear, Fees are total to 50 % of the loan received. Even the XXXX looking at the loan Agreement which DOESNT MAKE SENSE if the loan Amont is {$10000.00} why is the purchase price {$15000.00}, ( is XXXX question ) What is the {$5000.00} in fees as we asked our Account manager XXXX XXXX XXXX which he really had no idea why the fees are so high and just responded with his standard term or language all reps have to state.
Half of the amount of the loan look to be fees and interest/APR compounded which have a statute of limitations of fees. XXXX was going to make a full payment to close off the loan in great standings on XX/XX/XXXX but was shocked to see we have to actually pay {$12000.00} when we asked our Account manager XXXX he had implied we will be getting a discount to {$12000.00}. Why would they apply such a large discount?
XXXX tried to pay the account off, in good standing but Quick Bridge denied the acceptance of receiving the true account balance owed of {$7100.00}, XXXX applied a Stop payment on this Lender. As a Consumer we feel like a victim to Fraud or overreach as no one can answer why is there {$5000.00} in fees applied to XXXX? To Protect the company assets and expenses we applied a stop payment until we resolve this matter as XXXX just want to pay off the loan in the correct amount on XX/XX/XXXX and on XX/XX/XXXX.
On XX/XX/XXXX XXXX from XXXX XXXX responded via email we will not accept your payment. And implied i will be dealing with their attorneys. Here is a copy of the email from XXXXXXXX XXXX XXXX XXXX XXXX XXXX made contact with XXXX XXXX on XX/XX/XXXX of XXXX for a possible loan agreement. XXXX received a message about a possible loan amount and as we didn't need that much of a loan. XXXX agreed to a {$10000.00} loan amount.
XXXX has made 8 payments and at that point was called by XXXX XXXX another account manager to see if we needed more money. We didn't like the calls of asking us for more loan. So XXXX just wanted to pay off the balance owed which is {$7100.00} after making 8 payments weekly of {$350.00}.
on XX/XX/XXXX XXXX XXXX looked at the Loan account and noticed there's a problem in this loan with unexpected fees not disclosed that are totaled to 50 % of the loan received as a buyer to the loan. Even the XXXX looking at the loan Agreement which DOESNT MAKE SENSE if the loan Amont is {$10000.00} why is the purchase price {$15000.00} What is the {$5000.00} in fees as we asked our Account manager XXXX XXXX XXXX which he really had no idea why the fees are so high and just responded with some term or language all reps have to say. Half of the amount of the loan look to be fees and interest/APR which have a statute of limitations of fees. XXXX was going to make a full payment to close off the loan in great standings on XX/XX/XXXX but was shocked to see we have to actually pay {$12000.00} when we asked our Account manager XXXX, he had implied we will be getting a discount to {$12000.00}. Why would they apply such a large discount?
XXXX tried to pay the account off, in good standing but Quick Bridge denied the acceptance of receiving the true account balance owed of {$7100.00}, XXXX applied a Stop payment on this Lender as a Consumer we feel like a victim to Fraud or overreach as no one can answer why is there {$5000.00} in fees applied to XXXX To Protect the company assets and expenses we applied a stop payment until we resolve this matter as XXXX just want to pay off the loan in the correct amount on XX/XX/XXXX and on XX/XX/XXXX.
On XX/XX/XXXX XXXX from XXXX XXXX responded via email we will not accept your payment. And implied we will be speaking to our legal team.
Email copied and pasted all below.
Hello, Thank you for your email. I am unsure of the conversation you had with XXXX and XXXX, this contract is a future receivables purchase and sales agreement. There is the purchase price of {$10000.00} and a purchased amount, which will be turned over to QuickBridge in the amount of {$15000.00}. Your remittance due weekly, every Tuesday is {$350.00}. The processing fee is a one time fee and is not included in the repayment of the contract.
The 4 % retrieval rate is what we use to generate your weekly remittance, based on your business revenue. 4 % of you revenue is what will be paid to QuickBridge weekly. Currently the balance remaining on this contract is {$12000.00}. Your agreement is still in range for a discount, but do to the breach of the agreement - stop pay - you do not qualify for this discount.
We will not accept your offer of {$7100.00}, as you are still responsible for the remaining {$5000.00}. If you do not wish to lift the stop pay, or provide your statements requested, we will escalate the contract to our legal team for further litigation.
Regards, XXXX
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| 03/12/2019 |
No |
- Payday loan, title loan, or personal loan
- Installment loan
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- Problem when making payments
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Web |
Servicemember |
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1. XXXX XXXX XXXX, XXXX, entered into a Business Loan Agreement Merchant Loan with XXXX XXXX XXXX through XXXX XXXX XXXX dba Quick Bridge Funding, with a guarantee from XXXX XXXX, and was purportedly granted a security interest in and lien against all of the Debtors assets. Pursuant to their provisions, the QB Loan Documents are to be governed and construed by the laws of the state of California. The Business Loan Agreement was for XXXX XXXX XXXX, XXXX to receive {$150000.00} ( QB Loan for {$150000.00} ) in funding with a pay back {$180000.00}. In addition to the QB Stated Interest, the Debtor was also required to pay an origination fee of {$4500.00} ( the QB Origination Fee ) to Quick Bridge. Although identified as fees the QB Fees are, in substance, additional interest under the QB Loan ( the QB Fees and the QB Stated Interest are together, the QB Interest ). The total cost of the loan being is then calculated at {$190000.00} or {$41000.00} more than the amount borrowed. This loan was to be paid back in 25 weekly payments. Considering the 48 % of one-year term of the QB Loan, the effective QB Interest rate per annum is approximately 57. 6 %. Although the Debtor was advised and expected to be entering into a loan with Quick Bridge, the QB Defendants, using the rent-a-charter scheme, originated and papered the QB Loan through BofI, a federally-chartered bank. Immediately after funding, XXXX assigned the QB Loan to Quick Bridge.
2. XXXX XXXX XXXX, XXXX, has made payments of {$100000.00} plus the {$4500.00} origination fee to date. A transaction report shows each payment made. This leaves a balance of {$82000.00}.
3. In connection with the QB Loan, QUICK BRIDGE FUNDING , LLC charged a usurious interest rate under California law exceeding 7 %. California Code, Civil Code - CIV 1916.5 states, The rate of interest upon the loan or forbearance of any money, goods or things in action or on accounts after demand or judgments rendered in any court of this state, shall be XXXX dollars upon the XXXX XXXX dollars for one year and at that rate for a greater or less sum or for a longer or a shorter time ; but it shall be competent for parties to contract for the payment and receipt of a rate of interest not exceeding XXXX dollars on the XXXX XXXX dollars for one year and not exceeding that rate for a greater or less sum or for a longer or shorter time, in which case such rate exceeding XXXX dollars on one hundred dollars shall be clearly expressed in writing.
4. The QB Loan documents do not clearly express in writing that the interest rate will exceed XXXX dollars on XXXX XXXX XXXX.
5. The interest rate for the QB Loan for {$150000.00} was 57.6 % or {$41000.00}. If using the maximum interest allowed pursuant to California Code, Civil Code - CIV 1916.5 of 7 % this would be an interest charged of {$10000.00}. This is a difference of {$31000.00}.
6. XXXX XXXX XXXX, XXXX has made payments of {$100000.00} on the {$150000.00} loan leaving a balance of {$45000.00}. Allowing for the legal interest rate charge this would be {$10000.00}. This leaves a total balance due to QUICK BRIDGE FUNDING , LLC of {$55000.00}.
7. The decrease of {$31000.00} would bring the total owed to {$24000.00}.
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| 03/12/2019 |
No |
- Payday loan, title loan, or personal loan
- Installment loan
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- Struggling to pay your loan
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Web |
Servicemember |
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1. XXXX XXXX XXXX, XXXX, entered into a Business Loan Agreement Merchant Loan with XXXX XXXX XXXX through XXXX XXXX XXXX dba Quick Bridge Funding, with a guarantee from XXXX XXXX, and was purportedly granted a security interest in and lien against all of the Debtors assets. Pursuant to their provisions, the QB Loan Documents are to be governed and construed by the laws of the state of California. The Business Loan Agreement was for XXXX XXXX XXXX XXXX to receive {$75000.00} ( QB Loan for {$75000.00} ) in funding with a pay back {$92000.00}. In addition to the QB Stated Interest, the Debtor was also required to pay an origination fee of {$2200.00} ( the QB Origination Fee ) to Quick Bridge. Although identified as fees the QB Fees are, in substance, additional interest under the QB Loan. The total cost of the loan being is then calculated at {$94000.00} or {$19000.00} more than the amount borrowed. This loan was to be paid back in 126 daily payments. Considering the 34.5 % of one-year term of the QB Loan, the effective QB Interest rate per annum is approximately 75.36 %. Although the Debtor was advised and expected to be entering into a loan with Quick Bridge, the QB Defendants, using the rent-a-charter scheme, originated and papered the QB Loan through XXXX, a federally-chartered bank. Immediately after funding, XXXX assigned the QB Loan to Quick Bridge.
2. XXXX XXXX XXXX, XXXX has made 1 payment of {$2200.00} to pay the loan origination fee and 95 payments of {$730.00} and one payment of {$6100.00} for a total repayment of {$75000.00}.
3. The interest of {$17000.00} was paid by XXXX XXXX XXXX, XXXX to QUICK BRIDGE FUNDING , LLC in the new loan for {$150000.00} and the {$17000.00} being held from the transferred amount.
4. In connection with the QB Loan, the QUICK BRIDGE FUNDING , LLC charged a usurious interest rate under California law exceeding 7 %. California Code, Civil Code - CIV 1916.5 states, The rate of interest upon the loan or forbearance of any money, goods or things in action or on accounts after demand or judgments rendered in any court of this state, shall be XXXX dollars upon the XXXX XXXX dollars for one year and at that rate for a greater or less sum or for a longer or a shorter time ; but it shall be competent for parties to contract for the payment and receipt of a rate of interest not exceeding XXXX dollars on the XXXX XXXX dollars for one year and not exceeding that rate for a greater or less sum or for a longer or shorter time, in which case such rate exceeding XXXX dollars on XXXX XXXX dollars shall be clearly expressed in writing.
5. The QB Loan documents do not clearly express in writing that the interest rate will exceed XXXX dollars on XXXX XXXX dollars.
6. The interest rate for the QB Loan for {$75000.00} was 75.36 % or {$19000.00}. If using the maximum interest allowed pursuant to California Code, Civil Code - CIV 1916.5 of 7 % this would be an interest charged of {$5200.00}. This is a difference of {$14000.00}.
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| 03/15/2016 |
No |
- Debt collection
- Other (i.e. phone, health club, etc.)
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- Communication tactics
- Threatened to take legal action
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Web |
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I had a company contact me for a debt that is showing charge off status and a XXXX balance owing on the account. When I informed them of what my credit report was showing they told me that it was done in error and that I still owed them money. They offered for me to settle and said if I did that they would take the entire thing off my credit report. I told them that if they had already charged off my account and reported a XXXX balance that I was not obligated to pay them anything because the debt had been written off. The report the account charged off in XX/XX/2015. The collected payments from me even after the account was charged off from XX/XX/2015-XX/XX/2015 after which I stopped paying. They now starting calling, texting and emailing me today about the account stating that I owe {$60000.00} and that if I do n't agree to pay or settle that they would have their attorney sue me. This is the second time the have threatened me with a lawsuit. The first time I was in a payment plan with them and they filed a suit. They have also called my business and told my employees that they were going to send someone to pick up all my office furniture and equipment if I did not pay them money. They have used several strong arm tactics that I feel are illegal. I had to hire an attorney to contact them and they withdrew the case. This company offers high interest cash advance loans. I do not believe I owe this money anymore because it was charged off and XXXX out. I believe they are trying to correct an error made on their end and force me to pay for funds they wrote off already.
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| 06/10/2016 |
Yes |
- Consumer Loan
- Installment loan
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- Shopping for a loan or lease
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Web |
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Quick Bridge funding procured my personal information in order to fill in the missing pieces such as social security number and signature and process and approve a loan for my business on XXXX/XXXX/XXXX and XXXX/XXXX/XXXX.
Quick Bridge funding added my social security number to an application in order to run my personal credit. Quick Bridge provided me with documentation purporting to be authentic. However, after reviewing the documents, I discovered the following errors : 1. Applications were from XXXX companies not named Quick Bridge Funding 2. My social security number was added to XXXX application, clearly in a separate font, without my permission.
3. No application number was included on the stated application 4. The address on XXXX application is incorrect 5. The signature on XXXX application is a photoshop copy of a general signature available through state documents.
On XXXX XXXX, I spoke with XXXX at Quick Bridge funding and although he did try and defend his company, did admit that the problems mentioned above were accurately described.
In my last written communication with Quick Bridge, I stated that I would escalate this matter if they did not pull their reporting off my personal credit by XXXX XXXX, XXXX.
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| 06/20/2023 |
Yes |
- Payday loan, title loan, or personal loan
- Personal line of credit
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- Problem with additional add-on products or services
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Web |
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ONCE AGAIN I have received yet another scammy fraudulent junkmail solicitation from these criminals addressed to my deceased father at my address. Despite repeatedly being told to CEASE AND DESIST, the mailing continue. They have openly lied and disobeyed XXXX complaints and continue to annoy and harass. Their mailing include fraudulent wording such as : '' Active account notification '' " Use your Active Account Card '' " Congratulations on your Account Status '' and " Account Confirmation '' all intended to deceive and defraud consumers. They also include a phony credit card. These XXXX criminals do this all over the country and there are dozens of complaints all over the Internet against them. They also go by the name XXXX XXXX. They are a FRAUD. They are CRIMINALS and need to be investigated and put out of the public misery. This is NOT a duplicate as I have received YET another mailing from the XXXX despite my previous complaints. ( Attached )
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| 02/16/2023 |
No |
- Debt collection
- Payday loan debt
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- False statements or representation
- Attempted to collect wrong amount
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Web |
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On XX/XX/2022 we had a letter taped to our door addressed to XXXX XXXX. My name is XXXX XXXX. It was for collection of a loan that we had never taken out. I took it to my bank and they said it was fraud. We tried to call the company and they told us they'd call us back and never did. We then assumed that it was a scam and that we'd never hear from them again. I got served papers today to appear in a lawsuite in a month for a loan I never took out. Little did we know my phone, computer, or something had been hacked because I have email correspondence between my email and the company that supposedly gave us a loan. I never received any money. If you have any suggestions on getting out of this lawsuit that would be great. Thanks.
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| 02/13/2020 |
Yes |
- Payday loan, title loan, or personal loan
- Payday loan
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- Struggling to pay your loan
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Web |
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i signed up with quickbridge they are a cash advance company I had to pay XXXX a week it was ok at first. I tried to negotiate lower payments or monthly they said no. After running into issues with my bank I was not able to pay checks bounced. i tried to get other agencies to take over the account they were not successsful in doing so. They have placed a ucc without trying to find someone who can help me do lower payments. I feel like they didnt try to resolve it and took the easy way out.
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| 12/17/2017 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Old information reappears or never goes away
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Web |
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This loan was charged off and settled in XXXX of 2016. I requested that all information about this loan be removed as a condition of the settlement however it still appears. This loan company makes predatory loans on small/disadvantaged businesses with onerous terms and high interest. This loan was one of the factors that led to the failure of the associated business.
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| 04/11/2019 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
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- Struggling to pay your loan
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Web |
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Currently have a loan through Quickbridge. All payments are current but I will be shutting down my business shortly. Im halfway through the loan and have been trying to make arrangements for payment modifications in order to continue to pay. All efforts have been denied and a lawsuit threatened if the current schedule was not kept.
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| 01/14/2023 |
No |
- Payday loan, title loan, or personal loan
- Personal line of credit
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Web |
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This fraudulent company has been mailing unwanted credit cards and Pre-qualified loan offers to my deceased father, among many other people. The company is a scam and a fraud. There are dozens of complaints against them all over the Internet and XXXX. They need to be investigated and put out of the public 's misery.
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| 11/18/2023 |
Yes |
- Debt collection
- Payday loan debt
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- Written notification about debt
- Didn't receive enough information to verify debt
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Web |
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I have requested monthly statements be provided by the company but they failed to respond.
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| 08/25/2021 |
Yes |
- Payday loan, title loan, or personal loan
- Personal line of credit
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- Problem with additional add-on products or services
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Web |
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| 03/04/2019 |
Yes |
- Debt collection
- Other debt
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- Attempts to collect debt not owed
- Debt was paid
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Phone |
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| 09/15/2018 |
Yes |
- Payday loan, title loan, or personal loan
- Installment loan
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- Charged fees or interest you didn't expect
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Web |
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| 11/20/2017 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Account status incorrect
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Web |
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| 03/16/2017 |
Yes |
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- Improper use of my credit report
- Report improperly shared by CRC
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Referral |
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| 06/23/2016 |
Yes |
- Debt collection
- Other (i.e. phone, health club, etc.)
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- Improper contact or sharing of info
- Talked to a third party about my debt
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Web |
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| 06/23/2016 |
Yes |
- Debt collection
- Other (i.e. phone, health club, etc.)
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- Improper contact or sharing of info
- Contacted me after I asked not to
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Web |
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| 05/16/2016 |
No |
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- Improper use of my credit report
- Report improperly shared by CRC
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Postal mail |
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| 04/07/2016 |
Yes |
- Consumer Loan
- Installment loan
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- Managing the loan or lease
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Web |
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| 03/16/2016 |
No |
- Consumer Loan
- Personal line of credit
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- Shopping for a line of credit
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Web |
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| 06/10/2015 |
Yes |
- Debt collection
- Payday loan
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- Taking/threatening an illegal action
- Sued w/o proper notification of suit
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Referral |
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