U.S. Bancorp Consumer Loan Complaint

U.S. Bancorp Consumer Loan department,

Installment loan Managing the loan or lease New Jersey

US Bank is currently suing me and - for breaking a - - - loan contract. I did not know that these were the stipulations, especially the part that in NJ, I required an attorney to represent my -. I was not allowed to represent my company. The contract was signed without allowing me fully understanding of the clauses or get council. - -, US Bank representatives came the seminar I was invited to by - - - - -. The seminar talked about the - system and a special promotion of 6 months of no-payment and free practice materials for the machine as well as free training. The seminar speaker showed how the Medicaid - offices could financially make a profit with this equipment. I applied for financing, very sure that I would be turned down any way like I had been that year from other lenders and creditors because I had high debt compared to income. When the financing representative gave me the " good news '' of approval and a page of very tiny prints to sign, I felt unsure because the prints were tiny. I asked if I could take a copy home first to read


US Bank. I had a brief dealing without negative experience with - - a few years back when they provided financing for my - who qualified until - - said they were dropping out of that service. - - was a trusted supply company I used for years and did not have any bad experience. I was told that the special promotion was just for the seminar only, I could get the -/-/- end-of-year income tax reduction, and I would have 6 months to settle in, learn the new technology, and make income to pay when the loan repayment began. 6 month no-interest promised was of no value, because I did not get the equipment until a few days before -/-/-. I did not get the training until about -/-/-. They also asked me to pay for insurance and processing fees before the loan first begun due. The first day of repaying the loan came in - - and I made the payment using budget set aside for paying - loan, - Property Taxes, and residential mortgage. After two payments, I contacted US Bank before the next due date, I informed them of the financial status of defaulting on other loan payments as listed above. I did not want to default on any of my loans and needed help. They said someone will call me back to help so I had waited in hope to manage the payments soon. But, no one helped me. They kept passing me to another person. The I received a letter of demand or get the equipment repossessed. I asked about my option of letting equip repossessed because they were not lowering the payment to help. Even - worked with me after a devises ting Storm, -, hit NJ. US Bank representative, - -, intentionally misled me to give up equipment to avoid additional lawsuit and just pay the remaining loan in terms I could afford. None of it was true. Everything that took place was exactly opposite of what I was told by - -, who worked for collection department of US Bank. I realized only recently in -/-/- because US Bank hired - - technicians for repossessing process of the equipment and never paid them. - - contacted me when they were not getting anywhere with receiving payment for 6 month after the service. I emailed to - - and her Colleagues and was told they were no longer working in the collections department and told me to talk to someone else. That someone else never answered my emails.