Umpqua Bank Endorses Private Lending Practices
WARNING: This is a serious alert to anyone that wants to borrow money but does not have credit.
Do not borrow money from a private lender even if your banker advises you do so…………this is why:
Christy Tenbusch my banker at Umpqua bank in 2010 advised me to borrow money from a private lender to establish a credit rating so she could grant me a conventional loan in one year.
After paying on this loan for a year I was told by Umpqua Bank the payments did not count because the private lender did not report my payments to Equifax, I was trapped and have been trapped ever since.
I have paid over 30K in interest alone. If I had been informed of the Equifax part and how it worked I would never have borrowed from a private lender.
If this comes up in your life find out first if they report your payments to a credit bureau.
Ray Davis CEO of Umpqua Bank seen here on YouTube Nov. 3, 2010 youtube.com/watch?v=yKx_… in an interview with Jeanne Bliss gives his express permission for his employees to do dumb stuff like this.
I have tried to contact Ray Davis about this but he will not reply to me personally.
I have been to a lawyer and have been informed that since the big recession “banks can now do pretty much like they want to and no longer have a legal, moral, ethical or fiduciary duty to their customers” beware of them.
The afore mentioned lawyer advised me not to share this account because Umpqua Bank may sue me for slander but I told the attorney ” the people need to know this, it could save someone else the pain I am experiencing and the truth is the truth it’s just that simple.”
You have my word this account is the truth and ongoing as of Sept