Online Loan Complaints

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CashinaSnap is not a lender but a referral source for more than 100 lenders. Thus, complaints about an online loan, loan fees, or terms and conditions of a loan must be handled directly between the lender and the consumer (you).

Make sure you retain all the information, documents, etc. about any loan you receive. You will need this information should you ever wish to file an online loan complaint with your state’s regulatory department.

Complaints About Online Loans

The most common complaint we receive is, “I did not get a loan.”

Although we try hard to get a loan for as many people as possible, we do so more than 80% of the time; we are not able to do so for less than 20% of those requesting loans. The reasons vary from incorrect information, previous defaults on payday loans, inconsistent earnings history, and a wide variety of other reasons.

Due to the volume of online loan requests we receive, and the fact we do not have access to lender loan criteria, we cannot respond to requests for information about loan rejections. However, all consumers should know that requesting on holidays and weekends will reduce your chances for online loan approval as fewer lenders work on these days. Weekdays are the best time to request, 24/7.

How to Deal with Online Loan Complaints

If you feel you have not been dealt with fairly by your lender and have an online loan complaint, you must resolve your loan problems with your lender or contact the regulatory agency of the state in which you reside. We are not a lender.

Every state has different regulations and requires that lenders be licensed in that state. You can view these regulations on each state’s website. Note that some states, like New York, do not allow payday loans. If you are in a state which does not allow these loans, you will not be able to get a loan even if you meet a lender’s qualification criteria.

Beware of Fraudulent (Phone & Email) Requests and Loan Scams

There are a number of scams, largely run by offshore entities, that use the name of legitimate services and call people directly about providing a loan. No legitimate, licensed lender will do this. These scams will request a “deposit” in advance of providing an online loan.

NEVER agree to provide a deposit of any amount in advance! All of these requests are SCAMS. These offshore businesses are not regulated and are out of reach of American governmental agencies. You cannot be protected from these solicitations.

If you receive one, report it immediately to the Federal Trade Commission (FTC) and hang up the call. These scams are usually started with a phone call or email to you, claiming they represent a legitimate company. They try to convince you to send money in advance. Again, do NOT ever send money in advance or make a ‘deposit’ to get an online loan.

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