Spring Financial
reviews and complaints

I have been with you for over 3 years. Al yous do is take money from me. Won't give any loan so I consolidate my other bills. I have never missed a payment. Kind of worthless that they profit off people and claim to help people which is not true at all. I work as well as have disability and other sources of income. Yet not help from spring finacial. Seems like a fraudulent company scamming people out of there money. My credit score is 676

Sept 15, 2023 I was checking my credit history report when I chanced upon to see that I have am existing loan to Spring Financial whereas I do not apply any loan from their company. I tried to call them several times and they told me that I have to pay first before closing the account. But why do i need to pay whereas i dont apply any loan from them that was September 30, 2023. However, I did not pay and got angry why do i need to do that. Then oct 4 they emailed me that they closed it. But upon checking today, Nov 2 2023, i still have loan on my credit report.

This complaint is with regards to my interaction with Spring Financial via text on beginning July 21/23 and continuing all day into July 22/23 while applying for a personal loan: I was contacted by Omar of Spring Financial about applying for a personal loan, at first everything seemed to be going well I was sending in all my documents one after the other I only had one paystub he first said that was ok but later said he needed to which I was graciously given to me by my employer at my request so I sent that in, everything looks really good this last paystub because it's higher than the other increases your chances of being approved. I thought I was done but then had to give two references one personal and one from my employer with phone numbers. I was told these were just for my records and they wouldn't be contacted, well guess what you lied, my employer did receive a phone call, this was a personal matter that I certainly didn't want my employer to know about, it's none of their business what I'm doing in my personal life, anyway he left a message but the administrator was busy at the time and couldn't take the call, I then got a call stating a message was received from Spring Financial regarding a personal matter with James Edgar, he did try calling back to confirm employment even though I'd provided 2 paystubs with my name on them. In conclusion I was firstly told I was credit approved and then in the next text my loan had been sent for final approval? what? I just heard you're approved, so I said how long does it normally take for a decision, he told me about an hour. I waited 3hrs and finally asked if there was a problem with my application? and had I been declined if so just tell me and that's the end. He said he hadn't heard anything back yet but would let me know when he did. 5 hours went by and I didn't receive an answer, text after text no response, so is this ok to treat people like this when they've reached out to you for financial assistance? did this make me feel better about my financial problems and take the stress away. The answer is it 100% didn't, all it did was upset me and add stress to my life

Well, I had an Evergreen loan with Springs Financial and I made payments every month. After a year, I decided I wanted a loan but couldn't get approved. They informed me that my payments were too low, so I didn't qualify. However, they never mentioned anything to me when I reduced my payments. This made me upset, and I decided to cancel after a year. They assured me it wouldn't be a problem and informed me that I had $760 in my Evergreen loan. I requested a withdrawal, but then they started making excuses. They apologized and said that they keep the money to help with my credit rating. However, it didn't have any positive impact on my credit rating. Interestingly, after I canceled, my credit rating improved a month later, and it had nothing to do with Springs Financial. I feel like I was scammed out of the money in my account.

I should have paid attention to past reviews, but I was desperate to improve my credit (which was what I was told could be accomplished before being guaranteed a loan.) 3 times I was contacted that I could get a loan, each time after another hard check (not helping my credit) they then denied (after I telling them, no. No approval yet. It fell on deaf ears.) the foundation has been finished, my score went down many times (only improving again now that I don’t have it.) I got nothing back. What was I paying for? I don’t mean just a little disappointed amount, I mean i’ve received absolutely nothing. Been trying to get in contact multiple times, sent emails, also. Steer clear of this business.. You’ll be worse off afterwards.

I was offered to help with my building credit

The fee was $25.62. However I decided to not too at that point., I will get back to them. Feb 13/23

They took amount of $25.62 and March 03/23

Trying to get a hold of someone who can cancel the payment they either transfer back to the stupid live chat and I been waiting all day like almost 8 hrs and still waiting for the call

I been trying between the time frame 8-3:52

I applied or a loan from spring financial I was under the understanding I was getting a loan from them the papers I signed was for a loan, I noticed last week that they are taking money out of my account why would I ask for that when i’m applying for money for money to be taken out of my account I tried to cancel with them once I noticed the funds leaving my account now they are saying I don’t have any money to be returned to me when they have taken a few hundred dollars I have bank statements proving this

Hello,

I received a phone call from a Spring Financial representative named Caleb, at 10:45 AM CST on January 9, 2023, and the phone call was about 26 minutes.

The representative advised me that it would be about a 10-to-15-minute phone call. He was reviewing the items on my credit report and was trying to explain how to improve my credit score by adding an installment trade line. I was very patient and listened to everything he was trying to offer.

After reviewing The Foundation Agreement emailed to me, I said I wanted to have some time to think about it before proceeding. He kept asking me what I needed to think about, and I explained I want time to review the documents. He was persistent that I would not get an approval at any other lenders and if I cared about my credit score that this would be the only option.

I told the representative that I appreciated the feedback and continued to reiterate that I just want to have time to think about it. This went back and forth about three times. I told him at this point I just want to get off the phone because it has exceeded 15 minutes and I don't appreciate the pressure he is putting on me.

He said, “I'm not even putting any pressure; we're just talking about your credit”. I was very frustrated, but I was still being polite trying to explain I would like to get off the phone and he hung up on me while I was still talking.

I was already upset that it took more than a week for Spring Financial to get back to me on my loan application. I'm even more upset with the unprofessionalism I have experienced with this representative. Based on this experience today, I will never consider any products with Spring Financial.

Thank you,

Alyssa De Guzman

The issued it anyways to my account and wanted the origination fee regardlessd if was refunded to them that day. They are part of a predatory lending ring scma of callers that harass and call you until you accidently fill out their form thinking they are legitimate and once they got your information your are pretty much done, they have their teeth in. The loan accrued over 116$ in interest because they wouldnt take the money back or allow lump sum payoff they wanted it in 2000 dollar payments and a 6 dollar fee per charge. Their team told me this 9 times and on the billionth call one guy was like we can waive the fees and take your payment... Would saved me 100 bucks if the lady had done this the day the funds were issued. This company is a hoax buyer beware do not user thier services.

Hi I applied for a loan months ago and I have delt with them not calling me back and when a supervisor called me back I told him my situation and what has been happening to me so he told me they didn't accept my bank so I opened a bank they so have and told to call him when I did with my pays going into the new bank and promised a loan so called back today and the supervisor didn't call me back and I had to call again they transferred me 3 times just for them to tell me I didn't get accepted and tried to get me to sign up for a credit building loan when I was already promised to get a loan and my credit score is in the high 600s I thought spring financial was here to help people not treat them like they have me it's Very Very disappointing and sad that a company I have heard great things about just screwed me 😓😓😓😓😓

I have called and requested numerous times to cancel this as I am paying more than double to get less money back. I have requested numerous times and spoke to rude representatives telling me I am in arrears. I can't afford to keep paying this. I was told I was going to be receiving a loan. They scam poor people into signing contracts and take their money.

I cannot afford this. How can anyone do this to people?

Do not do any business with this company! It's a scam! Go to the bbb and see how many people have filed complaints! They took money from me and now say I owe 2000.00 for money I never borrowed they put in a trust account that I have no access to because it's not true. There is no trust account! The customer service person if you ask too many questions hands up on you! I have reported them to the government and I suggest everyone do the same!

Hi there.

I am here to complain about a company called Spring Financial. They have scammed me out of, approximately $200 CAD so far. Basically when I first heard about it was very short on funds that week, so I applied. Unfortunately my credit card wasn't up to par, so they recommended a credit recovery loan. This loan regards making minimal payments of $56.52 bi-weekly for three years to put me in good standing with creditors. However the representive at the time had told me that once I'm in good standing even within this year, I could have access to te full loan, or at least some of that funds that have also been already paid out. So another week came around, and I was short funds again because I had less hours that work week, so I thought that was a good opportunity to call Spring Financial to get access to some funds. When I had called them they claimed that my account was closed with them and that I had missed three payments. I was quite puzzled by this because prior to weeks ago when I had opened a new bank account and closed the old one, I had called them and notified them that I had done so. I was then instructed to send my account details to an email (support@springfinancial.ca). I assumed that they had received it, and everything was good to go. However according to this other rep, they did not receive my email, but the strange thing is even though they didn't have my updated banking info, they didn't even attempt to contact me, which was the first hint that I had been scammed. I then had explained the reason as to why I had called initially and was told that I couldn't have access to the funds until I made the MISSED payments. So I agreed to schedule those payments, and asked how much funds I would be getting in return. He then told me that even after making the missed payments that I still don't have access to these funds (even as I was promised after being in good standing with creditors which I know I was, because I checked my credit score). I began to get very upset and told him that I wanted to end my 'subscription' (if you will), and was told that I can't stop it until I pay the loan in full, which stands no purpose at all because then I wouldn't be receiving any money in return. I sent an email to the support email and told them not to remove any funds from my account however the following week which was just last Friday I went in my account and saw that they tool two payments. One in the amount of $81.67 and another in the amount of $46.63. I tried to get it back because I was short funds regardless scam or not, to just reschedule when I had more funds posted in my account. This representative stated that je was the only rep in the office and was not in charge of doing so, therefore I had to wait until the following week (which was Monday that had just passed). He so also did state that he would leave a note on my account, and they would call me back. Monday came, no call. Tuesday came, and STILL no call. Obviously they had no intention of calling back, so Tuesday afternoon I left my number in the cue to get a call back and was told by the representative that after making the payment of $81.36 that I still had to pay $2000 even if I wanted to quit the subscription and not get access to the funds even after it was paid. [censored]ING SCAM. It was not in my agreement like she stated, and the first rep I talked to who was an apparent manager of it all, falsely advertised the agreement just to ger me to sign. I was then told that it is a legal agreement and it won't matter if I rip up the contract. Looks like I might actually need legal help. Please do not sign up for this credit recovery loan for Spring Financial. They are stupid [censored] scamming sons of [censored]es who are only trying to scam you of your money. Excuse my long essay and foul use of language but people get scammed on a daily basis, and these companys corporations and associations need to know that it isn't okay. Especially for someone like me who is currently only making minimum wage, and has less than 2 months basically to figure out a place to live, with fair credit but having many bill payments in collections due to lack of funds, and regulated pay.

Thanks!