Consumer complaint received 2024-11-08 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Was approved for a loan, but didn't receive money — 
Company: Skopos Financial, LLC
State: CA

Complaint narrative:
Between the months of XXXX and XX/XX/year>, I received several mail solicitations indicating pre-approval for a personal loan from Reprise Financial, hereto referred to as the Company. On or about XX/XX/year>, I accessed the Company 's website, submitted a loan application, and was presented with multiple loan offers that required me to use my vehicle as collateral. The requirement for collateral was not included in the mail solicitation and, after some thought, I decided not to proceed with any of the loan offers at that time. 

On or about XX/XX/year>, I accessed the Company 's website, submitted a loan application, was presented with multiple loan offers, and I selected the offer for a {$3000.00} loan. I then provided all of my verification documentation and vehicle information. Subsequently, on or about XX/XX/year>, I received two email requests : ( 1 ) an email requesting that I sign the loan contract, and ( 2 ) an email requesting that I submit my title and sign and submit a Power of Attorney ( POA ) to the Company. I needed to request a replacement title from the Department of Motor Vehicles, so I did not sign the contract at that time. 

On or about XX/XX/year>, I contacted the Company by phone and requested to increase the loan amount to {$5000.00}. I was verbally advised by the Company 's representative that my request was approved. While on the call, I received two email requests : ( 1 ) an email requesting that I sign the loan contract for the new loan amount, and ( 2 ) an email requesting that I submit my title and sign and submit a Power of Attorney ( POA ) to the Company. I accessed the loan contract and signed then immediately submitted the document on XX/XX/year>. I planned to submit my title and signed POA later that week, once I had access to a printer to print and sign the POA. Neither the contract, the Company 's representative, nor the email request listed a deadline by which my documents were required to be submitted. 

On or about XX/XX/year>, less than 48 hours after submitting the signed loan contract, the Company emailed me a Notice of Adverse Action ( NOAA ) indicating that my loan was denied as a result of credit factors. Upon receipt of the NOAA, I immediately accessed the Company 's website to figure out what was going on and my application was inaccessible and could not be found. 

On or about XX/XX/year>, after failing to receive answers, I accessed the Company website and submitted a new application ; that was immediately denied. 

On or about XX/XX/year>, I submitted a XXXX XXXX XXXX  ( XXXX  ) complaint regarding my issue with the Company in hopes to understand what happened and seek resolution. 

In its response dated XX/XX/year>, the Company stated that my loan for {$5000.00} was denied because I failed to submit my title and my application expired as a result. My rebuttal to this is as follows : The NOAA is dated XX/XX/year>, however the contract was executed with an effective date of XX/XX/year>. The contract did not include a clause that stated that the title must be received prior to becoming effective, nor did the title request include a deadline for submission. Additionally, in the contract it states my agreement that the Company " may take physical possession '' of my title ; it did not state that the Company shall take physical possession as a condition of the contract. Further, upon my execution of the contract, it is reasonable to assert that my application was complete and therefore could not have expired. Another note on the contract is that it does not include a cancellation or revocation clause. It does however state that " Any changes to [ the ] agreement must be in writing signed by Borrower and Lender ''. I would consider denial to fund the loan a change, but I did not sign any document agreeing to that. 

On or about XX/XX/year>, I rejected the Company 's response and responded through the XXXX  complaint portal to refute the Company 's assertion and request that the terms of the signed loan contract be upheld, pending the receipt of my title and POA. 

In its response dated XX/XX/year>, the Company stated " It appears that there was a communication oversight, and you were not informed that your application was about to expire ''. The Company also stated " Unfortunately, we are unable to extend the offer again and based on your credit report from your most recent application on XX/XX/year>, we are unable to extend a new offer ''. To which I state that I am not seeking the extension of the same offer or issuance of a new offer ; I am seeking for the company to uphold the executed contract and not use a fabricated instance of an expired application as a defense for denying my loan in bad faith after the contract was executed. 

Additionally, in its response dated XX/XX/year>, the Company stated that they sent me an XXXX XXXX  card in the amount of {$100.00} as a gesture of goodwill and compensation for any inconvenience. I am unable to reject the gift card, as XXXX does not provide an option to do so, but I refuse to accept this as resolution or compensation for this issue. The Company also stated that they will remove the hard inquiry from my credit report. This is also not adequate resolution. 

The bottom line is that the Company entered into a loan contract with me, then used fabricated tactics to breach and refuse to uphold the contract. I have attempted to resolve this issue with the Company to no avail. At this point, the Company has caused undue hardship on me and I have spent numerous hours trying to resolve this issue.

Company response to consumer: Closed with explanation