Consumer complaint received 2020-10-28
Company: CNG FINANCIAL CORPORATION
State: NY
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Getting the loan

Complaint:
I was sent an email stating I was approved for a personal loan. They requested proof of myself, which I sent them. They then said I was approved for {$10000.00} but that I had to go buy and XXXX  card with {$200.00} on it. First store didn't have them so I asked if I could get a visa card. He said they had problems with those and to specifically get an XXXX card. Went to another store and got it. Called to confirm I had it. He insisted on me giving him the redemption code on the card so they could verify the balance and confirm I did get the card and that the {$200.00} would be used for my first payment on the new loan. A little later, he tells me they can't process the loan as some credit bureau stopped it due to a low credit score. But, if I would buy loan insurance, they could process the loan. Insurance would be {$2500.00} but I only had to pay 1st {$500.00} and company would pay the rest. I told him to cancel this loan. He asked for a little time to see if he could find some other way. In the meantime, I went out to XXXX to check the card I got, and there was no balance on the card. Since I've never been to XXXX  or used it, I assumed the card I bought was a general gift card that could be used anywhere. Turns out it could only be used on XXXX. So, how then could this be applied to my first payment? When he called back, he asked if I could buy the insurance and I again told him I did not have the money and to cancel this loan. I then asked what he did with the {$200.00} on the XXXX card. He claimed they would give that to me with the $ XXXX loan, or {$10000.00}. I didn't want that added to the loan. I just wanted my {$200.00} back. A day went buy and I emailed the original person who sent the loan info to me and asked to get the loan cancelled and to refund my money. She claimed the loan was sent to the process department and that my {$200.00} would be refunded around XX/XX/24. That day came and went as did the next 3 days and I've been asking every day where my refund is and I get no reply. Name of person at Check N Go was XXXX XXXX, her email id is XXXX All I want is my money back. I am retired and I live on a fixed income and can't afford to be out this money. I was going to use this loan to pay off all my credit cards and I would only have to pay {$200.00} a month for that $ XXXX. XXXX ( the guy who kept trying all things ) called and told me I would be getting a confirmation from my bank for my ID. I asked why but as we were talking it came across and it was confirming my userid. I never asked for that nor do I need it to be sent to me. I use my bank account every day. He asked me to give him the user ID and I told him I would never give that to anyone. So, he tried to get into my bank account and when I asked why he did that, he said he wanted to put money into it to help buy the insurance. I told him they already had my routing number and account to make the $ XXXX loan into so he did not need my account direct access. I feel like I was scammed or seriously defrauded just by the things they put me through and I really want them to be contacted by you and told they must refund me, now, not 30 days from now. I do hope you can help me with this. I have the proof of the XXXX  card purchase, the emails between me and them and a full document showing the details of my conversations with them. I am attaching. Thank you for your time and help

Company response to consumer: Closed with explanation