Consumer complaint received 2017-11-17
Company: Big Picture Loans, LLC
State: TX
Product: Payday loan, title loan, or personal loan
Sub-product: Payday loan
Issue: Received a loan you didn't apply for

Complaint:
On XXXX XXXX, XXXX, I applied for a loan online with Big Picture Loans for {$1900.00}. I was approved for the loan and the funds were deposited into my bank account. On XXXX XXXX, XXXX, paid off the loan in full with interest in the amount of {$2000.00} using my debit card for the same bank account. 

On XXXX XXXX, XXXX at XXXX XXXX, I received two emails from Big Picture Loans. The first email stated that my application for a loan in the amount of {$1500.00} had been approved. The second email stated that the funds were on their way to my bank account and the first payment was due on XXXX XXXX, XXXX. I did not apply for another loan with this company. So, I called them immediately to advice them to delete this information and not send me any funds because I did not apply for this loan. I checked online a few hours later and observed that the loan was cancelled. 

On XXXX XXXX, XXXX at XXXX PM, I received another email from Big Picture Loans stating that I was approved for a loan for {$1500.00}. I received a fourth email from this company stating that the funds were on the way and the first payment was due on XXXX XXXX, XXXX. I phoned Big Picture Loans back a second time and informed them that I did not apply for a loan with them since paying off my initial loan. I stated that I was extremely concerned because an application continues to process which I did not make. I requested that the representative delete any account associated with my initial loan and remove all of my personal information to prevent them from continue to apply for another loan on my behalf and send me funds. The representative stated that he could not delete my information. He stated that he would cancel the loan application. 

I phoned my bank to try to place a block on my bank account preventing Big Picture Loans from sending any funds to may account. My bank advised me that this is not possible. I would have to cancel the bank account which would be difficult for me since I have this account set up to pay my monthly bills. It would be a great inconvenience to close my bank account ; however, I will close the account if Big Picture Loans continues to try to send funds for a loan that I did not apply for or want. 

The interest rates with Big Picture Loans are extremely high. It appears that they are attempting to send me another loan in order to earn the high interest which accumulates very quickly. 

I believe that Big Picture Loan has acted fraudulently by continuing to open loan accounts in my name multiple times for which I did not apply. I believe they have intentionally continued to open loans in my name under the false premise that I applied for these loans in order to profit from the high interest rate which will be applied if I receive the funds. 

I would like this complaint published to prevent others from being subjected to this scam. I would also like Big Picture Loans and its affiliates to delete my account  and all of my personal and financial information to prevent them from continuing to open another loan application in my name.

Company response to consumer: Closed with explanation