Consumer complaint received 2022-08-09
Company: Affirm Holdings, Inc
State: TX
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Confusing or missing disclosures

Complaint:
I have been a customer of Affirm loans for a few years. They offer credit loans & virtual credit card loans. The only way to access your statements is by entering your mobile number on their website, receiving a code on your cell phone then typing it in the 4 digits into the bubbles on their site. Once you do that you can view your current loan dashboard listing due dates, payment amounts, individual loans & the merchant you purchased from along with a loan ID number. Most of the loans I use with Affirm have automatic payments that I receive alerts on my phone along with the merchant name plus an email. I have been in excellent standing with Affirm, paying my bills on time & in full until this occurrence. I noticed a recurring auto payment debit being withdrawn from my checking account in the amount of {$92.00} on the XXXX of each month starting on XX/XX/2022. My bank statement indicated the payment was going to Affirm, but NO merchant was listed NOR was there a loan ID listed. I called Affirm & spoke with their agent who checked my account, verified this loan was NOT on my dashboard then informed me this was not an Affirm loan as Affirm ALWAYS has a loan ID number attached to their withdrawls. The Affirm agent advised me to contact my financial institution to check for fraud. I did so immediately & filled out a dispute charges form with my credit union filed on XX/XX/2022. My credit union also had me do a Stop Payment for the upcoming XX/XX/2022 auto debit withdrawal. Both actions standard banking protocols on suspicion of fraud. On XX/XX/2022 I received a text & an email informing me that this loan which Affirm had previously denied existed with them & could not locate in their system NOR could I access my statement/loan ID for on their system, had now been charged off & sent to collections since my charge dispute on my debit/XXXX  reversed all the previous payments causing them to be considered 120 days or more past due. I called Affirm on XX/XX/2022 & spent hours on the phone trying to get any info on this loan which seemed to have Affirm bewildered on their end. Appears someone dropped the ball on their end when it came to posting this loan on my dashboard. After a considerable amount of time I was able to speak w/a supervisor named XXXX who assured me she would investigate this matter & gave me a case number for referral. I received an email from XXXX on XX/XX/2022 assuring me he would be passing my concerns to the proper party. I received an email also on XX/XX/2022 from XXXX who assured me she would be handling this situation & gave me a new case number. I have NOT heard back from anyone associated with Affirm as of today XX/XX/2022. Meanwhile, I did my own research & discovered this virtual card loan was made in XX/XX/2022 & used at XXXX. I am willing to reverse the charge dispute & make the final payment of this loan, but I need Affirm to own up to their errors. They need to take responsibility for having never posted this loan to my dashboard thus denying me access to the loan details for six months. Affirm needs to remove all history of the charge off status which currently negatively impacts my credit score. They need to apologize for the misinformation given to me, by denying this loan existed with them after I contacted their representative. They need to send a statement to my credit union claiming that this is an authentic payment & not a fraudulent withdrawal & the error was on their end. This is a legal matter & needs a legal paper trail resolving me of any negligence. Thank you for your assistance in this matter.

Company response to consumer: Closed with explanation