LendKey Technologies
Reviews and Complaints

I tried to get a loan from LendKey for a pool renovation. They sent us to a Credit Union, but they denied us for some reasons. They said our current income doesn't meet their loan guidelines. However, when we called the credit union, they told us that they're not approving loans for self-employed folks right now. So, we ended up with no loan and a negative impact on our credit score!

There is a $1492.92 overpayment on a certain account. Navy Federal / Lendkey has stated that the overpayment refund will be issued to the company the loan was refinanced through (SoFi), but legally the overpayment should be refunded to the account holder.

My account with Lendkey got charged off in 2020, and they charged me a whopping $66154.00. They sold it to some other creditor, so Lendkey should've updated my credit reports to show that I don't owe them anything anymore. Transunion got it right and shows a big fat $0, but Equifax and Experian are still stuck on the old info, saying it's charged off and showing the original balance. I've asked Lendkey so many times to fix this, but they ain't willing to give me a letter saying I'm all clear or fix the reports. I need my credit reports to show a big fat $0.00 right away.

I just went and applied to refinance my federal student loans. Right now, all the federal payments are put off until the end of August. Lendkey knows about this national deferment thing for student loans. But they still went ahead and gave me the loan without telling me that getting the funding before the deferment program ends would make me not qualify for any federal loan forgiveness program from the current US government. Lendkey is supposed to follow the deferment process for loans, so I don't get why I wouldn't be able to get any loan forgiveness during the deferment period for federal student loans.

I tried to refinance my private student loans with LendKey. They made me think that my credit and job history were good enough to go ahead with the application. The customer service boss told me straight up that they wouldn't do a hard credit check if I withdrew my application. I also asked many times to talk to someone in finance about how they decide on the numbers. They wouldn't let me, so I didn't want to continue with the loan. Even though I gave them lots of pay stubs and W2's, LendKey said I couldn't have a 7-year term according to finance. Then, I got an email that contradicted what the LendKey CUSTOMER SERVICE SUPERVISOR told me, saying they would do a hard credit check.

I refinanced my student loan with Lendkey in 2020. They said they'd give me lower payments when I'm struggling financially. But in February 2022, I couldn't work because of my disability. I don't get disability payments yet 'cause it takes forever to process. So right now, I have no money coming in. I tried to get reduced payments, but they asked for my paystubs from the past two months. I told them I don't have any and asked what proof I should give for having no income. They just said they're denying my request 'cause I didn't finish the application. They shouldn't say they offer reduced payments if they won't give them to someone with no income due to medical reasons. They probably don't give them to anyone at all.

Regarding your application - ID, I applied for a student loan for my wife. I have full military power of attorney and was conditionally approved for the loan. They asked for some information, such as my wife's military pay and details about another student loan with Nelnet, including the statement and pay off information. I called LendKey to inquire about the status of my wife's loan and was repeatedly asked if it was a private student loan or a federal loan. I informed them that it was a private loan and offered to have a three-way call with Nelnet, but they declined. I also contacted Nelnet to ask for information that could prove that the loan was private, which I received and sent to LendKey through my wife's online portal. The paperwork included my wife's information and listed the lender as Nelnet Academic Loan. Nelnet informed me that if it were a federal loan, it would be indicated next to the lender's name, but it was not. Additionally, I had to make payments during the COVID-19 pandemic. Please address these issues.

Me and my boy got a loan from lendkey. It was a co signer loan for my son's private student loan. We told Navy Federal/Lendkey in December that my son ain't a student at Temple no more. We told them again in February that he ain't going to school for the 2020/2021 school year. But Navy Federal/Lendkey didn't do nothin' and didn't put the loan into full repayment. I called them in September to let 'em know my son ain't in school no more. But Navy Federal/Lendkey was lazy and didn't put my son's loan into full repayment. It's 9/2 now and the loan still ain't in repayment. I want all the interest charges from when we first told 'em to be removed and for the loan to be put into repayment. I shouldn't have to pay the interest 'cause it's the lender's fault for not followin' the right procedures.

I used Lendkey to refinance my student loan from a private lending company. I paid off the loan with an overage on March 11, 2022. Lendkey refunded me $1627.99 and cashed the check on May 2, 2022. I made over 8 phone calls to Lendkey from May to July 2022, but they denied receiving the check. The lending company provided me with the check number and cashed date. Even after giving this information to Lendkey, they downplayed it. I had to confront them on July 8th, 2022. They told me after their investigation on July 8th that the $1627.99 was allegedly 'applied to someone else's account.' Lendkey promised that the 'upper level' would apply the principal to my account on May 2nd, 2022, to reduce the interest paid since May. I called Lendkey again on July 11th because they did not do what we agreed on. Instead, they are trying to apply the overage check to July's payment. This is a fraudulent business practice, and I can't keep calling this company to avoid being charged interest for months for money they already received.

All my (5) edukational loans serviced thru LendKey were approved for retroactive forbearance on 4/26/2022. I submitted the agreed payments to 2 of them a few days ago and was logging in today, 5/10/2022, to make the rest of payments to bring them current to continue the forbearance process when I was surprised to find them all charged off. I am a medical students and single parent of a 3-year old, also with my 73-year-old mother in my home. My forbearance was approved for a good reason and ought to be honored while I have been struggling with a chronically ill child thru a pandemic while trying to obtain my medical degree. When I contacted LendKey via phone, they argued that the accounts were charged off before the forbearances were approved and therefor I would need to ask their collection partners what happened. This is inaccurate since the forbearance approvals were received by me on 4/26/2022 (I have the timestamped emails to prove this) and not shown on my account or in ARSIs system as charged off until today, 5/10/2022. Per LendKey's directions, I have also spoken to ARSI and they are escalating a complaint back thru LendKey due to the approved forbearance.

On March ,, I got conditionally approved for a student loan refinance from LendKey. The Application Summary on their website said I could get a rate of 1.9%, which could go down to 1.65% if I used Auto-Pay. But, when I had to sign the Loan Disclosure, it said that the 1.9% rate already included the Auto-Pay discount, and if I didn't use Auto-Pay, the rate would go up by 0.25%. I told LendKey about this difference on March ,, and they emailed me back saying that 1.65% with Auto-Pay was the right rate. But when I called their customer care team on April *,, they said the correct rate was actually 1.9% with Auto-Pay, which contradicted what they said before in the web portal and email. I think they're being sneaky and trying to trick borrowers by giving them the wrong rate and then making them sign documents that don't match the rate they were given. I complained to the Consumer Financial Protection Bureau about this, and they said it was a "contained server error". But even now, on April ,, the web portal still shows me a 1.65% rate with Auto-Pay, while the loan disclosure says the lowest rate with Auto-Pay is 1.9%. I think it's important for people to know that this platform isn't trustworthy because they're quoting a low rate that doesn't match the disclosure they want you to sign.

I got a loan with this company for my daughters schooling. I paid on time each month, through my credit unions online banking service over the past several years. In December , I got a notice saying the payment wasn't received in October. I talked to my credit union-they said the check wasn't cashed. I had to cancel the transaction and resend the money because Lend Key lost the check. No sorry from them. February 2022, I got another notice saying I supposedly didn't make this payment. This thing is on automatic payment each month through the credit union and has been for several years. Lend Key is bothering me for payments that were sent and lost on their end. They don't seem to do anything about these issues and threaten me with bad marks on my credit report. Every time this happens, I have to work with my credit union to cancel transactions, wait and watch for money to be credited back to my account, and then ask for another payment to be sent, all while being threatened with damage to my credit report. Having an incident happen once could be a mistake, even though the phone person was really rude. Repeatedly having the same issue shows a problem in their business practice that isn't being fixed. I would appreciate any help looking into the business practices of this company. I don't know if leadership has changed, if they're using a broken system, but this constant bothering is not okay. Thanks for your help. I have the communications from my credit union as proof of payment. I don't have a recording of the threatening phone calls, of course. I won't accept phone calls from this company anymore. Thanks.

Lendkey has been messing up my credit and causing me a lot of trouble for six years, and it's become a big problem recently. I'm permanently disabled and tried to work things out with Lendkey for my student loans starting in 2017. That year, I filed for bankruptcy because I became completely disabled and had to rely on SSI for my income. I knew my student loans wouldn't be included in the bankruptcy, so I tried to sort things out with both Lendkey and *** (which doesn't exist anymore and got absorbed by *** Neither Aspire nor PenFed could find any record of my loans. Lendkey, on the other hand, flat out refused to help me. Here's a timeline of what happened that I wrote to explain the negative stuff on my credit report to my mortgage lender. 2017: I was already asking for a break from payments because of my disability through LendKey in ***: I reached out to Aspire and they said they had no record of my loans. Lendkey told me that Aspire wouldn't forgive the loans because of my disability, but they never gave me any real information about it. (Later on, I found out they lied and Aspire actually did offer forgiveness for disabilities.) [protected]: I couldn't get any help, so the loans went to collections. My dad co-signed the loans and tried to deal with the collections agency, but they never came to an agreement. The collections agency said a bunch of different entities owned the loans and some of them stopped responding or showing up to meetings, so it was impossible to reach an agreement. 2021-present (had to shorten): PenFed confirmed there's no proof that my loans ever existed. Lendkey won't talk to me because they charged off the debt (which wouldn't have happened if they were honest and communicative). I got $133k of federal student loans forgiven. Lendkey is still reporting negative marks on my credit without offering any solution.

I was lookin around for student loan refinancin, and I found that Lendkey was offerin a $750 referral bonus to those who use the Student Loan Planner referral link. I used this link and was led to a page on *** for Student Loan Planner users who said those who refinance over $25k would receive a referral bonus. There was a link that disclosed additional information. I read all of the disclosures closely, as I was not plannin to refinance if anythin said I wouldn't qualify for the $750 referral bonus. Everythin looked good. There was no mention of the Student Loan Planner referral, but there were other referral programs mentioned. I have a copy of the disclosures I can share. Once I applied and was approved for the loan, I reached out to confirm that I would receive the referral bonus. I was told yes and that it would just take some time. About a month later, I received a referral bonus of only $100. I inquired about this, as everythin I had read on both the Lendkey and Student Loan Planner site communicated that I should receive $750. However, I was told by Lendkey that I would have had to refinance $150k in student loans to receive that bonus. I thought there was no way I could have missed that kind of information if it had been disclosed to me. I went back and read all the details once more. Sure enough, that information was not to be found anywhere. Lendkey duped me into refinancin with them with the promise of a $750 bonus. This so called bonus then magically had restrictions that were not listed anywhere and not revealed to me until after I had opened the account. As mentioned, I saved copies of the pages as proof that disclosures were not present. Lendkey's legal team and the person who manages their referral program fell short. I reached out to Lendkey and showed where the terms on the bonus were not clear. They did not acknowledge their error and as of today it is still not corrected in the fine print, leadin to other customers likely bein misled as well. Of course, they also refused to grant me the bonus that all information indicated I would receive.