Consumer complaint received 2017-04-18 00:00:00
Product: Credit card — 
Issue: Identity theft / Fraud / Embezzlement — 
Company: BorrowersFirst, Inc.
State: RI

Complaint narrative:
My contact information Mailing address   XXXX    XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX   XXXX , FL  XXXX  I have submitted this claim several times and have received no resolution. This company does not want to address the fact that they took a credit card out against my authority, nor do they want to address the random charges on it. Destroyed my credit.   Here is the information of the company for which I submitted my claim.    XXXX   XXXX   XXXX   XXXX , Texas  XXXX  CONTACT   XXXX   XXXX    XXXX   XXXX  https : //www.borrowersfirst.com/ First time complaint was submitted : Case Number  XXXX  WHAT HAPPENED Describe what happened so we can understand the issue ...   I was offered a personal loan to take care of medical bills by a lending company called Borrowers First. After the initial set up fee I have been repeatedly charged transaction on this account as if it were some sort of credit card. I have been faithfully paying off this loan through monthly installments for six months and each month the loan amount is increasing. Today my balance is approximately a thousand dollars more than what it originally was.   I have been prioritizing the loan over all my other expenses. I have had to put off other expenses because recently they doubled the amount of my monthly payment without any explanation. This loan is ruining my credit, the balance is increasing with each month and can no longer afford to pay this.   I really do n't want this to ruin my credit any further. What gives them the right to increase my balance and charge transactions onto this loan that are not authorized by me. I havent been able to pay other bills and everything is adding up, ruining my credit and my house hold. Please help me.    Consent to publish the description of what happened? Consent provided This is about a ( n ) Consumer Loan  : Installment loan Which of these best describes your issue? Managing the loan or le ase DESIRED RESOLUTION What d o you think would be a fair resolution to your issue?   This is a fraudulent loan with fraudulent transactions that have been continuously charged repeatedly to the account. This account should be removed from my name. I should also receive reimbursement for the damage it has caused to my life, and my family.     The companies response was this Borrowers First said : Explanation of closure   BFI has researched  XXXX   XXXX  's complaint and has determined that this loan has been paid down from its original balance. The original loan amount was {$7500.00} and the pre-paid finance charge was {$370.00} ; therefore, the amount originally owed was {$7800.00}.  XXXX   XXXX  's current loan balance shows as {$6700.00}. Additionally, by reviewing the monthly statements submitted to the CFPB and  XXXX   XXXX  's account, the loan has not negatively amortized. He has incurred many NSF fees which has added to the overall outstanding balance of the loan, but these NSF fees have not caused negative amortization of the loan.     Response Upon receiving  XXXX   XXXX  's complai nt, BorrowersFirst, Inc. ( " BFI '' ) e scalated his concerns to our Senior Complian ce Officer for review. BFI imm ediately researched the issues he set forth in his complaint and has reached the conclusion explained below.   Customer Service last spoke with  XXXX   XXXX  over the phone on  XXXX   XXXX ,   XXXX  .  BFI c onfirmed that his ACH payment option turned off.    XXXX  does not have any follow up actions or planned follow up actions in further response to this complaint.  XXXX   XXXX  is always welcome to contact the  XXXX  Department with further questions at  XXXX  XXXX  XXXX  or the Customer Service Center at  XXXX .     I submitted a second Complaint :  XXXX  WHAT HAPPENED Describe what happened so we can understand the issue ...   I tried responding as a despute but I kept getting an error.     Case number :  XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation