Consumer complaint received 2025-07-30 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Getting the loan — 
Company: NAVY FEDERAL CREDIT UNION
State: FL

Complaint narrative:
I have also send this letter to Navy Federal. 

To : Navy Federal Credit Union XXXX : Formal Complaint Misinformation Resulting in Unjust Hard Inquiry & Loan Denial Dear Navy Federal Member Advocacy Team, I am submitting this formal complaint regarding the mishandling of a recent loan refinance request, which has resulted in a hard inquiry and loan denial that I believe are both unwarranted and damaging to my credit. 

Ive been a loyal member and was seeking to refinance or adjust my existing personal loans, based on a conversation I had with a representative on XX/XX/XXXX, at XXXXXXXX XXXX ( XXXX call ). During this conversation, I was told that I qualified for internal refinancing on XXXX of my loans at a monthly payment of {$210.00} with a fixed interest rate of 8.6 %. I was also told that my second loan could not yet be refinanced but that I could request a payment skip. 

Unfortunately, this call was accidentally disconnected on my end, and I did not receive a call back. I attempted to follow up at XXXXXXXX XXXX, but the department was already closed. 

The next day, on XX/XX/XXXX at XXXXXXXX XXXX ( XXXX call ), I spoke to another representative who contradicted the prior information. I was told that refinancing required a hard inquiry, and that interest rates ranged from 8.6 % to 12.6 %, with no guarantee of the original offer I had been quoted. 

At XXXXXXXX XXXX, I received a call with an official loan offer. However, this offer came with additional terms that had never been disclosed earlier, including a 12 % interest rate and a stipulation that I would not be allowed to apply for any other loans for a full year. I declined the offer on that basis. 

To my surprise, at XXXX XXXX I received an email stating that my loan had been declineddespite the fact that I had already declined the offer. Then at XXXXXXXX XXXX, I called again to clarify the situation. Unfortunately, the representative was dismissive, followed a script, and offered no resolution. I finally requested a payment deferral, which is currently pending. 

This experience has left me feeling misled and unfairly penalized, especially during a vulnerable and financially stressful time in my life. Im a veteran, currently navigating a divorce, relocation, and graduate school enrollment. I made decisions in good faith based on the guidance I received from Navy Federal representativesguidance that proved to be inconsistent and ultimately damaging. 

As a result of this mishandling : A hard credit inquiry was placed on my report based on misleading information. 
A loan denial was recorded, even though I had declined the offer after learning the true terms. 
I received inaccurate and conflicting information from multiple representatives without proper follow-up or support. 

I respectfully request the following : XXXX. That Navy Federal remove the hard inquiry from my credit report, as it was initiated under false or incomplete information. 
XXXX. That the loan denial be reclassified as a withdrawn application. 
XXXX. That a thorough internal review be conducted regarding the guidance given, especially from the calls on XX/XX/XXXX at XXXXXXXX XXXX and XX/XX/XXXX throughout the afternoon. 
XXXX. That appropriate follow-up and corrective action be taken to prevent similar issues from affecting other members. 

This matter directly impacts my financial planning and creditworthiness during an already challenging transition. I trust that Navy Federal will act with transparency and integrity in reviewing this complaint and upholding the high standard of service expected by its membersespecially veterans. 

Thank you for your time and attention. I look forward to your response. 

Sincerely, XXXX XXXX XXXX Phone : XXXX Email : XXXX Member Since : XXXX Access Number : XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief