e-loan is trying not to honor our contract
Written: Oct 22 '00
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I realize this is a very long message, but if you are considering going thru e-loan, please read this.
My fiancee and I were trying to buy him a new truck, so after much research we tried e-loan. At first it seemed great, we were approved within minutes of applying. We got the paperwork and traded in his truck, which has now been sold.
When we applied for the loan, we listed him as a full- time student, but an error message came up & said that we had to enter AT LEAST one months employment. So we listed his last employer. He stopped working there approximately 1 1/2- 2 months ago to finish up getting his college degree. He has only one semester left, then he will return to work.
So, anyway, after the dealership we purchased his new truck from sent in the paperwork, e-loan called us to say they needed his paycheck stub. So we faxed them the last one, which was dated approximately 30-40 days ago. They are now telling us they they can't approve the loan unless we provide them with a check stub from my fiancee within the last 30 days. I explained the situation to them, at which time the formerly helpful & friendly employee we had been working with became very rude. She said she would have to submit the request again. We were told we would receive a response within 24 hours.
Two days later,after hearing nothing, we finally called them , and were told that they would not be able to fund the deal. Now we have a new truck and no way to pay the dealer. Furthermore, we traded in our old truck for the new one, and if we can't get the money from e-loan to but the new truck, my fiancee will be out of a truck to drive.
I am very upset with e-loan, they told us we were approved and now they are trying to back out. We plan to take them court if we can't get them to agree to back up their word. I feel that when you are told you are approved, that means you are approved. We feel that this should have been taken care of before we went to all the trouble of trading in my fiancee's truck.
Recommended:
No
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About the Author
Member: kelly Overbee
Reviews written: 18
Trusted by: 1 member
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