Consumer complaint received 2023-06-12
Company: WLCC
State: MI
Product: Payday loan, title loan, or personal loan
Sub-product: Payday loan
Issue: Received a loan you didn't apply for

Complaint:
The beginning of XXXX I went online for a short term loan. 
I went to a site that wasn't a lender but connects to hundreds of lenders and finds you a match. I put all my information including my banking information. I found a lender signed the forms and received the funds. I looked in my bank account a few days after I received the loan and had received another loan from a company that I didn't fill out any paperwork from. I received a text from a company saying I needed to upload my last direct deposit. I thought that was the loan company that I signed the documents with. I found out who the company was and contacted them. I asked why I got the loan and signed no documents. They avoided answering and said I had 3 days to cancel and I should have done this if I didn't want the loan. I said ok and asked what are the monthly payments and they were over XXXX dollars XXXX ever two weeks or XXXX a monthly taken out of my account which I never authorized any of this loan or the repayment. The companies Name is Explore Credit. They also have another name or DBA that they use. Around XX/XX/XXXX I called Explore Credit asking for the pay off. Before my first payment was due. I had the loan less than 4 weeks. They said it was XXXX dollars. We went back and forth and agreed on XXXX and I said I will pay it and to please send the documents to authorize them to take payment to pay off loan in full and close it out. The loan officer said they didn't have this and they will debit my card and the loan will be closed. I refused to pay unless they sent a documented letter to my email that explore credit was closing the loan for the amount of XXXX dollars. After I received this I authorized them to take the money using my debit card. I felt with the email I was safe. I called back the company three times to confirm the loan was paid. I told them that I had no loan agreement and how they could do this seemed criminal. 
On XX/XX/XXXX I went into my bank account and Explore Credit submitted a check claiming I authorized taking out XXXX dollars for the loan I paid off with the email as proof. XXXX XXXX XXXX declined the check for lack of funds. I called Explore Credit and they said it was there mistake because the loan wasn't closed out. I asked how they could use a check that I didn't sign and not contact me first. They said it was a mistakeand then said they would be happy to submit the funds back. I said they were not allowed in my bank account and the check didn't go thru. I said do not put any money in my account for fear they would call it a loan with no contract and take money as often as they choose. I called my bank stopped payment on the check and blocked explore credit. XXXX XXXX XXXX said because they had my banking information they could try and deduct money under another name and unless I have fraud alert put on my account I am responsible. I now can not use my bank account for withdrawals unless I go to a branch and no company can go into my account with automatic withdrawals until the fraud alert is lifted. Because of this fraudulent company Explore Credit, I have to close out my bank account and open a new one. After lots of research several people have been subjected to this same situation. Please stop Explore Credit from continuing fraudulent loan activity.

Company response to consumer: Closed with explanation