I have been doing business with LendUp for about 6-7 months. On each payday loan application I have filled out, there has always been a section that asks "when is your next pay date," you put in your date and continue with the application process. It has always made my repayment date the date I enter.
Last month when at the grocery store, my bank card was declined. I called my bank and to my surprise, I see a negative $230 and LendUp made a withdrawal on a date I didn't choose. I have and will never make my repayment date in the same month I get a loan. I'm on a fixed income and they could see my repayment dates are basically around the same date the following month.
I was advised by a LendUp rep to notify my bank and ask that the transaction be declined or do an unauthorized charge. I asked in doing this would this cause me a problem with LendUp and the rep assured me that a new payment date would take place and that once I repaid my loan it would then put me back in good standings and I could then continue to get payday loans. I paid off my loan a day later because early deposit came due to the holiday, but when I went to make my payment a past due charge had been applied to my repayment amount, having never been told this was going to happen and never told the amount that I was going to pay.
Because of car repairs I had done, assuring me I could get another loan after they withdrew their money from my account, I was told I could no longer use that account and in order to get another payday loan I needed to open up a new bank account with a bank other than the one I use. Mind you, LendUp uses that same bank account to get their money.
Because of the advice by one of their reps, I suffered a financial hardship because of misrepresentation and misinforming me, and the fact that my repayment date was altered. I became liable and suffered the consequences of their actions.
Don't trust this company! I was told that there was no contact number for their corporate office, there were no supervisors available for me to speak with, they were unable to connect me with the rep I spoke with, and that there was nothing they could do except give it to their Resolution Dept, who did not have one word to say. I had no solution except she would submit a request for the return of the late fee but doubted it would be returned and ended our conversation with not even "I'm sorry," just stated there was nothing that could be done.
Bottom Line: No, I would not recommend this to a friend