Consumer complaint received 2023-10-17
Company: EQUIFAX, INC.
State: NC
Product: Credit reporting or other personal consumer reports
Sub-product: Credit reporting
Issue: Improper use of your report
Sub-issue: Credit inquiries on your report that you don't recognize

Complaint:
On XX/XX/XXXX I spoke with the XXXX XXXX location at XXXX XXXX XXXX XXXX, XXXX, NC via the phone about a pre-approved loan offer via XXXX to consolidate high interest credit card debt. 

I was told I was approved for a {$3000.00} personal loan. I asked what the stipulations were for said offer, and the agent ( XXXX XXXX ) told me there were not any to speak of. I specifically asked about prepayment penalties, etc. I then moved forward to the formal application process, via the phone. 

XXXX asked me for quite a bit of information -- including my bank account and routing numbers for automatic debits, proof of residence, paystubs, etc. 

She also asked me for the make and model of my vehicle. I asked her why that was pertinent information for the loan application. Her response was " it's just something that's on the application, we ask all of our customers ''. I told her that is extremely strange -- and again asked why it is pertinent. She told me that she did not know -- but that it's a requirement. I gave her the information. 

After the application was complete, she told me she would be emailing me the final documents once approved. 

I did not hear from her for two days. I called the XXXX XXXX office, and was told by another agent that " you have to come in to sign the papers, they are not emailed to you ''. I told that agent I was not informed of that, and was told they would be sent via email. I ended the call thinking I would just go in and do it anyway. 

A few minutes later, I received a call back from a manager ( female, did not catch name ) at the XXXX XXXX location. The manager apologized for the fact that I was not informed or contacted following my formal application. I told her I would come in anyway, and asked what I needed to bring with me. She proceeded to inform me that I would need to bring three references, and the title to my vehicle. I stopped her at that point. I did not apply or consent to an application for a " reference backed '', title-secured loan. I informed her of that. She told me that my application was sent in for ( including a credit check ) that type of loan. I told her the agent ( XXXX XXXX ) that I spoke with NEVER informed me she was submitting an application for a secured loan. I was told it was a " simple installment loan '' ( in those exact words ). I also never received any documentation during the application process informing me that XXXX XXXX offered secured loans, or that I would potentially be applying for one. I explained this to the manager, and told her that I felt that I've been deceived by their lending practices. She apologized again. I told her I wanted the Equifax credit inquiry they placed on my report revoked, since I did not give authorization for my credit to be pulled on the loan product it was ran for. 

She told me they don't have that ability. 

I contacted the XXXX XXXX XXXX office in XXXX, SC seeking a solution on XX/XX/XXXX. I was told I'd receive a call back the following business day from the XXXX  of the company. That did not happen. 

I then filed a dispute with Equifax, which was immediately denied. 

I then phoned Equifax, and agents told me that they will not remove the credit inquiry without a CFPB/FTC report XXXX 

Conclusion : XXXX XXXX deceived me during the loan application process in order to run a credit check for a loan product I did not consent application for. That is a fraudulent business practice, and deceitful/predatory lending. Proof of that lies in the response I received when I asked the agent what pertinence the make and model of my vehicle had to the loan application ( an opportunity for the agent to disclose she was submitting an application for a secured loan ). I instead received a flat-out lie. 

Equifax will not honor their promise for full, and thorough research for dispute requests.

Company response to consumer: Closed with explanation