LendingTree, Inc Consumer Loan Complaint

LendingTree, Inc Consumer Loan department,

Installment loan Shopping for a loan or lease New Jersey

I recently applied for a loan online from Lending Tree/- - and was pre-approved, and then proceeded to complete my application by phone. I was told over the phone that the loan had been finally approved at the rates I was quoted online, but was then transferred ( by phone ) to a local branch to make an appointment to sign the paperwork. That phone representative then quoted me a rate more than twice the original amount and tried to sell me an auto loan instead. This is a classic bait-and-switch scheme. They may have fine-print disclosures in the Terms and Conditions, but they should not be allowed to misrepresent the product to the consumer in this manner, which is misleading and false. They prey upon desperate consumers who need funds on an urgent basis and wear them down by keeping them on the phone for a long time, ultimately persuading them to accept a product for which the consumer pays a drastically higher rate, if they agree. They transferred me several times, and finally connected me to some kind of financial institution called - - - at - - -. in - -, NJ, -. This is truly a horrifying scheme.