Consumer complaint received 2016-08-23
Product: Consumer Loan — Installment loan
Issue: Problems when you are unable to pay — 
Company: KEYCORP (NY)

Keybank in XXXX offered me a promising solution to consolidate all my credit card payments which required for me to laon XXXX in order for me to pay off the following : XXXX XXXX XXXX XXXX XXXX XXXX The reason why I agreed to applying for loan is due to XXXX of my XXXX cards at XXXX and have never gone over 40 % of my credit limit and wanted to come up w a fast solution this way, my credit score would not be compromised. 

I was approved for XXXX loan and instead of paying of the credit card we agreed upon, the payment was made towards the incorrect card which has left me in a lurch and now I have been receiving credit alerts through XXXX and my score has been affected tremendously. This is now leaving me in a very awful situation, knowing I have always had great credit ( almost excellent ) and now I am at good due to the error of Keybank. 

In addition to the error, they never followed up with me to set an automatic deduction for my monthly payments due to them so I have been paying staggered by sending wire transfer from my bank. I now received a letter stating I owe Keybank for late payments but have been actually paying them off Just not through automatic deduction. So I am now left with a low credit score, an alert that I am not paying my bills in which I have been and a high credit card payment still due to XXXX. What a disaster it has been. 

They never gave me a solution to help rectify and backtrack to ensure they payed of the accurate card but instead, pushed me to use my home as collateral for another loan and pushed me to refinance in which we started the process than later on realized, I was being scammed yet again so they could sign me up for another loan with a high interest rate. 

I have not only had issues with the bank, XXXX score that is now at XXXX, being pushed to take on loans to pay off cards in which was never done to no one HELPING me resolve these matters. I have had to take a day from work today to work on this as it has reached a point wherin I will be unable to apply for credit cards for my start up business since my score is now at a poor XXXX. 

Please help rectify this for me as I am in desperate shape due to how this has impacted me finacially and personally. 

Below is an email from the bank confirming they did NOT pay off the XXXX XXXX. 

Lastly, they put in / processed XXXX inquiries against my account w out my consent which also affected my score. We were told they would need to do this JUST once which is standard and when I checked my update on line, it stated Keybank inquired XXXX ; XXXX XXXX to XXXX, XXXX, XXXX, me Hi XXXX, I called and left you a message. I spoke to my back office and the XXXX card was not sent for payoff. The only debt we paid was the XXXX XXXX with the low balance, the other card and Keybank. I spoke to XXXX and he stated that he told you the XXXX payment along with the rest of yours and XXXX debt was going to be paid off with the Refinance and Home Equity. The loan proceeds were not enough to pay all debts. 

If you have any additional questions, I will make sure XXXX calls you when he gets in on Tuesday.