Consumer complaint received 2024-08-21 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Getting a line of credit — 
Company: OneMain Finance Corporation
State: MN

Complaint narrative:
I was pre-approved for a personal loan to help consolidate credit card debt. On XX/XX/year>, I was received a call from One Main Financial, XXXX, located in MN. She asked me about why I was only wanting XXXX when I had requested the amount of XXXX. I explained to her I was only pre-approved for XXXX after looking at the options and XXXX by XXXX. She asked about my income, employment which I had explained I returned to work at my XXXX company whom I was with for almost XXXX. She asked about my monthly payment I would be able to do or was comfortable with. I explained I would be okay with XXXX a month. She then explained since I was just returning she would want my first paystub. However she will send me some items to complete on their portal in the meantime. I confirmed with her my payday. She said she would be processing for XXXX. 
I completed my upload of information, application information and my ID and SSN. On XX/XX/XXXX I received my paystub and was going to upload it, however I had some trouble finding where to upload as it did not give me any options. I called and spoke to her again and she sent me the link to upload. 
The next day she called and asked me questions regarding my income, as I had left the company and returned. I explained that I did leave the company and I did work with another company. She explained it wouldn't make sense since my YTD was still showing amounts as though I was still working. I explained to her that I was unsure if they ever really terminated me in their system or maybe they rehired/activated my employment, I was unsure. She then explained she would just put it on my loan that I was " on a leave ''. 
XXXX then called me on Monday XX/XX/XXXX explaining she had XXXX options for me. XXXX. Use my car as collateral. Take that loan pay off my car and get XXXX in my pocket. XXXX. XXXX loan 21 % ADR and XXXX a month payment. 
I was confused as to why my car was being considered for collateral and why the loan amount was so low. I had asked her to please send me the options in email so I could look at the terms of both to make the decision. She refused and stated she could not due to it being confidential information. I explained I would like to talk to my husband. She said there was nothing she can send to me but she would be willing for me to call her and she could answer his questions. 
The next few days after thinking about it I had called her to ask for explanations. I asked her why my car was being considered for collateral and why was the amount so low in comparison to the original pre-approved loan and what we had discussed. She explained the car was used for collateral but because I didn't have a high car value I would need to use it as collateral and pay it off and get the XXXX in my pocket. I then confirmed with her if that would have been more like a title loan. She then paused and stated that it was. I asked her why the loan amount was so low in comparison to the XXXX. If she could send over the application information she had provided to the banks on my behalf to see if I would qualify. After going back with her refusing to provide any information she then asked me what the issue was. I explained to her that my concern was she was going to move forward with saying I was on a leave when I was not. Therefore I want to ensure the information on my loan application is correct that she had submitted to the banks. She then stated she never submitted anything to any banks. Confused, I asked if she didn't how would I be approved. She said I was. I then asked her to please provide me with my application. Or if she can explained what the banks said when she submitted it for XXXX. Was I denied? She could not answer. She didn't understand what she can answer for me, which I explained I will not agree or sign anything without seeing any terms of conditions. She wanted me to pick which option and to set a time for me to go in and read the terms and sign. She was still acting confused, as i explained to her that nothing of any of these options were discussed on our initial call. She had never explained to me my car or personal items would be collateral or that the loan amout would be lower etc. She said she did, she had called me on Monday and gave me my XXXX options. I said no. I am talking about our first call on XX/XX/XXXX, had I known she was going to take my personal items as collateral or not even have a good chance of being close to XXXX I would have never moved forward. She became silent. I asked her for her loan number. Which she explained she does not have XXXX and only have an employee number. I asked if she was a legal financial loan processer. She stayed that she was not, but is as an employee of One Main Financial for 7 years. I then asked her for her boss information and email. She stated they do not do any types of communication over email. Therefore she gave me XXXX 's phone number. 
XXXX days after, being busy with work, I login into my loan portal to see she declined me, insinuating I was declined from the bank for my loan. 
Today, XX/XX/year> I received the email to formally let me know my loan was declined. 

This is fraud. Never disclosed my personal items to be collateral, let alone a title loan not a personal loan, lying on my application that I was on leave, not including my actual income, refusing to provide me with any information submitted, application or terms of conditions. Pushing me to make a decision over the phone and when questioned, I get rejected as if I was never approved for the loan. This hit my credit, hard inquiry, credit points loss.

Company response to consumer: Closed with explanation