Consumer complaint received 2016-08-31
Company: Marlette Funding, LLC
State: NJ
Product: Consumer Loan
Sub-product: Installment loan
Issue: Taking out the loan or lease

Complaint:
I received a pre-approval from Best Egg. I submitted the information ( SSN, income, etc. ), to which I was instantly approved for {$21000.00} ( with the specific comment that {$20000.00} will be deposited into my checking account ). A few days later, only {$20000.00} was deposited. I immediately called Best Egg to inquire about the difference, and was told " since you have no proof, there is nothing we can do to help you ''. I HAD taken screen shots, but the way Best Egg produces information on the screen, when I went back to the screen shot, it auto-directed me to the website, and since my ID/password are saved in there, it logged into the funded loan ( showing only the {$20000.00} deposit ). I had nothing to provide, since Best Egg wanted proof ( assuming I 'm a criminal, I guess ). 

Then, last week, I received a letter from Best Egg that specifically states, " We hope you 're enjoying your Best Egg loan. It has come to our attention that, due to a system error, the pricing notice that was presented to you when you applied omitted your credit score. We apologize for this error, and we have enclosed a corrected copy of the notice for your records '', which tells me there was a computer/system error in which my credit score was not taken into consideration ( thus higher pricing ). Then, after the loan was approved and about to fund, they must have realized my loan was priced incorrectly, and increased the fees by {$400.00}. 

I just called and spoke with Best Egg about the issue ( for the 2nd time ). I explained that I received the letter last week that clearly states there was a " system error with the pricing notice '', though, she tried to say that the letter has a different meaning. I re-read the letter 2-3 times to her, and we just simply had to agree to disagree. Again, it 's the use of " due to a system error, the PRICING NOTICE that was presented to you when you APPLIED omitted your credit score '' -- pretty clear to me. 

She finally said unless I could prove to them that I was disclosed the {$20000.00} during application, there is nothing she can do. I asked if I was her mom, or brother, or other family member, and this happened, how she would resolve it, and she said through the technology department. I am confused why she did n't transfer me over there so they can research my issue. 

Bottom line : this is bait and switch! I applied for the loan, and was approved ( based on fees of only {$700.00} ) ; then, after I accepted the loan ( with only {$700.00} in fees ), someone noticed the pricing error and simply added {$400.00} in fees. I want those {$400.00} in fees either deposited into my checking account ( as initially disclosed to me ), or a principal reduction of {$400.00} to my outstanding loan balance. This sort of shady lending has GOT to stop! I already swallowed a big pill to accept this crazy-high interest rate, but the double-punch of the {$1100.00} in fees is simply unacceptable! 

Word of advice for anyone applying for any type of loan from Best Egg, PRINT EVERYTHING! Do not assume anything will stay, as this lender is motivated to hide and cover up their mistake, so that they win. Please, CFPB, do n't let them win!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation