Consumer complaint received 2015-08-20
Company: Bristlecone, Inc.
State: NY
Product: Consumer Loan
Sub-product: Installment loan
Issue: Taking out the loan or lease

Complaint:
I am writing to complain about a loan with Bristlecone Lending that was fraudulently taken out in my name. 
On XXXX XXXX, 2015, I went to XXXX XXXX. While I was at the store, I asked the salesperson, XXXX, if I had any credit history and could purchase furniture on credit. The salesperson asked for my social security number so he could check my credit history and see if I was eligible for a loan. 
The salesperson told me I could borrow up to {$3500.00}. I wanted to buy a mattress, but he said I should buy a more expensive item so I could improve my credit. I found a cabinet set I liked and said I would consider purchasing it. The salesperson told me it would cost {$1700.00} including delivery. He then took down my information on a laptop, and said I needed to sign an agreement authorizing the lending company to send me emails. I complied with his requests. 
I then told the salesperson that before making a decision on the set, I needed to check to see if the cabinet would fit in my living room and wanted to wait until I received by benefits check on XXXX XXXX. The salesperson said that was okay, and provided me a receipt, which I understood to be an offer to sell me the cabinet. I never signed the receipt, and did not pay any money to the salesperson. At no time was I told or did I believe that I had committed to taking out a loan or purchasing the furniture. 
When I went home, I realized that the cabinet would not fit in my house. I also received an email from Bristlecone Lending attaching a document saying the set would cost me around {$250.00} in monthly payments, and I realized that I could not afford this amount. Because I did not agree to any loan or lease agreement in the store, I did not think the document I received was a completed lease or loan. 
I immediately called the store and told the salesperson I did not want the cabinet. The salesperson told me that I had to buy the set, and said I would have to pay a cancellation fee of {$390.00} if I cancelled. When I told him I did not think I should have to pay a fee and I could not afford a fee, the salesperson told me there was nothing he could do to help and I needed to speak with the owner, his father. I went to speak to the owner in person, but he told me that I needed to talk to the salesperson, who was not there. The next week I again went to the store : The salesperson again said I could not cancel, but told me I could exchange the cabinet for other items of the same price. He also said I could pay as little as {$50.00} a month, so long as I continued to pay. I again said that I had not agreed to purchase anything and could not afford any payments. 
On XXXX XXXX, 2015, Bristlecone called me. The woman who called me said that I needed to make payments to Bristlecone, and that if I wanted to cancel the loan, I would have to pay certain fees. I explained to Bristlecone that the loan was obtained through fraud, that I never received any furniture from XXXX XXXX, and that I do not owe Bristlecone any money. Over the last week, I have continued to receive phone calls from Bristlecone seeking to collect debt. 
I am a single mother of XXXX children whose only income is public assistance, and I am XXXX due to XXXX. Disputing this fraud has caused me a lot of emotional distress. 
I am reporting this situation because Bristlecone is lending in New York without a license from the New York Department of Financial Services. N.Y. Banking Law 340. Further, Bristlecone has inadequate policies to prevent the issuance of fraudulent loans. Finally, Bristlecone is now calling me as many as XXXX times a day, which is harassing. 
I am also filing this complaint because XXXX XXXX has committed fraud by signing me up for a loan in my name without my consent and pressuring me into paying a cancellation fee even though I never entered into an agreement with the company.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation