Consumer complaint received 2018-08-13
Company: Social Finance, Inc.
State: FL
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Getting the loan

Complaint:
I received a letter in the mail from XXXX XXXX stating that I was pre-approved for a personal loan that can help me consolidate my credit. I then called them and initiated the process of getting a loan. They directed me to the SoFi website and said that they would be the best option for loan and told me to go ahead and complete the process of applying. I did not know that the person I was talking to was not associated or had a partnership with SoFi so I thought it was all normal. The entire process took a lot of documentation to complete and I was working with an underwriter names XXXX that at first was very helpful. Towards the end of the process of getting approved and submitting the final documents I asked XXXX if the company that led me to them had to be paid their fee or if there was a way to avoid that. My questions was due to them not helping at all in the approval and documentation portion. To my surprise she had no idea there was another company involved and told me that we'd have to create a new account separate from the one that was pretty much approved. When I created another account it pulled my credit score again and declined my application ( They are supposed to use the same report for  60 days if I am not mistaken ). When that happened XXXX said she would talk to her supervisor and see if they can override that decision since I was already in the process of being approved and all documents looked good. She said she would get back to me and let me know. She never did and I had to call her for a decision. She told me that there was nothing they could do and the original account that was approved was now auto-declined as fraud!!! I was completely caught off guard and upset that I was being penalized for being honest and for not knowing that the people I first talked to were not working with SoFi. I then called the gentleman from XXXX XXXX to tell him what happened and that we were no longer working together. He explained that he has no way of intercepting funds, and that our agreement was under a power of attorney and his fee would only be due after I had received the money. Completely separate. I told him I still did not want to continue to work with them and the said that would not be a problem. I called XXXX to explain that I no longer had any obligations with them and that if there was any way we can plead to her superiors to use my original credit report for the new account or to open a new application. She said she would check with them and let me know ASAP. A week went by and no word from XXXX. I then called today to see if I can get an update and now conveniently it is against their policy to transfer me to speak to XXXX and they able to put in a call back request but can not guarantee that it will be XXXX to call me back. I had been working with XXXX the entire time and had no issue speaking to her and she left me multiple messages to call her back before the incident and again no issues reaching her. Now that I am auto declined for something that is not my fault she is conveniently either no there or against their policy for me to speak to her. This leads me to believe that XXXX is avoiding me rather than helping me fix this issue. Horrible

Company response to consumer: Closed with explanation