Consumer complaint received 2025-04-14 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Self Financial Inc.
State: MA

Complaint narrative:
I am writing to file a formal complaint against Self Lender regarding their failure to adequately investigate and manage issues related to my secured loan account. Their actions have led to inaccurate reporting on my credit history, which I believe to be the direct result of their improper handling of account management and payment processing.

Background and Issues : 1. Autopay Disconnection and ACH Activity : Self Lender alleges that my autopay was automatically disconnected because my account was flagged negatively. According to their explanation, this flagging resulted in the disconnection of autopay from initiating ACH transactions. However, I have evidence that contradicts this claim. XXXX XXXX conducted a thorough review of my account ( ending in XXXX ) covering the period from XX/XX/year>2019, through XX/XX/scrub> 2019, and confirmed that no ACH debit pulls were initiated by Self Lender. If any payment attempt had resulted in a bounce, XXXX XXXX would have charged a fee, yet no such fee was applied. 
2. Impact on Credit Reporting : The failure to accurately manage my loan account has adversely affected my credit history. Self Lenders decision to simply decline responsibilityciting the Fair Credit Reporting Act ( FCRA ) without a substantive investigationhas resulted in negative credit reporting that I believe to be erroneous and unfair.

3. Lack of Investigation and Accountability : Instead of performing a thorough investigation into the potential internal process failures causing these discrepancies, Self Lender has refused to take responsibility for their actions. Their response, which I have included below for your reference, merely states that all reporting was done accurately in accordance with their standard procedures. This response fails to address the underlying issues, ignores the XXXX XXXX  findings, and neglects the fact that the negative impact on my credit appears to stem directly from their management of my secured loan. 

Request for Action : I respectfully request that the CFPB initiate an investigation into Self Lenders handling of this matterspecifically, their failure to conduct a meaningful investigation into the autopay disconnection and the subsequent erroneous credit reporting.

I ask that Self Lender be held accountable for any inaccuracies reported to the credit bureaus that have adversely affected my credit history.

I seek a resolution that includes not only the removal or update of the inaccurate information but also a thorough review of Self Lenders internal processes related to account flagging and payment processing. I request a clear explanation of their actions in disconnecting autopay without a substantive review of bank records.

It is important to note that simply declining to update or remove this information does not resolve the mistakes made by Self Lenderoften referred to as the credit producer in this case. They have denied any wrongdoing by hiding behind the FCRA. By refusing to address the underlying issues that caused poor credit performance and inaccurate ACH activity reporting, Self Lender is not only liable for the errors but is also neglecting their responsibility to correct them. I firmly believe that if left unaddressed, these issues will persist and continue to harm consumers like myself. 

I have enclosed copies of the communication from XXXX XXXX which clearly indicate that no ACH transaction attempts were made by Self Lender and that any notifications of a failed payment may have resulted from an error on the banks part. Despite this, Self Lenders response remains unchanged, and I am deeply concerned that their practices may hide systemic issues within their loan management process.

I understand that complaints may be closed after a reply from the credit originators, but I am committed to pursuing this issue until a thorough investigation is conducted and Self Lender takes appropriate corrective action. I kindly request your prompt attention to this matter to protect other consumers from similar issues.

Company response to consumer: Closed with explanation