Consumer complaint received 2025-01-30 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: Affirm Holdings, Inc
State: FL

Complaint narrative:
My wife and I took out a HELOC ( Home Equity Line Of Credit ) on our new home. My bank, XXXX XXXX XXXX in XXXX, FL, stated to me that in order to provide the HELOC that the only two loans I had, through Affirm, needed to be paid off. So, we both agreed that they would send Affirm two checks ( please see attachments for amounts etc. ) to pay off these two loans. XXXX issued XXXX XXXX XXXX ( also located in XXXX, FL ) those two checks and then XXXX XXXX XXXX sent Affirm those checks. On XX/XX/2024 Affirm cashed one of those checks but failed to also cash the other check. My bank, XXXX in XXXX FL, saw this as a red flag because both checks were sent in the same envelope, and voided the second check but also immediately, within a day or two, reissued that second check by which Affirm then cashed on XX/XX/2024. So now both checks were cashed for each loan. By the way, I also called Affirm no less than 10 times between XXXX and XXXX about about this very topic. Everything was fine, my account showed paid off and then on, or around XX/XX/XXXX I received an email stating that one of the checks bounced and that a refund would be issued. What ACTUALLY happened was over 30 days later they decided to try and cash the voided check. Which makes no sense. I received a check in the mail shortly thereafter ( {$20.00} short of the actual check that was issued to them ) by which I them immediately printed out all the documents from the bank showing Affirm already cashed the correct checks and sent that check back to them on, or around, XX/XX/XXXX WHICH they received it. Then what proceeded to happened over the course of the next few months thereafter was me calling them 20+ times asking for a resolution. They argued with me and avoided the fact they had already cashed the checks. They ended up sending me this refund AGAIN, even though it made no sense to send me a check they already cashed, and BY WHICH I sent right back to them and demanded they re-apply this check back to the loans. At the end of this ordeal they sent my account to XXXX ( collection agency ) and at the same time sent the check back to me ( I believe it was for {$960.00}, {$20.00} short of the original check ) and told me it was to late to apply the check despite having already had the money and having already cashed both valid checks issued to them on XX/XX/XXXX and XX/XX/XXXX of XXXX. Every single conversation I had with Affirm was with an Affirm customer service agent who admittedly was working in the XXXX and not even in the USA. The reason I mention this is because each time they followed a script and couldn't resolve anything at all. Dozens of times I was told I would receive a response from Affirm in 3-5 business days and almost all of those times I never did. Now this entire ordeal is on my credit report and it should not be. My credit score went from mid- XXXX 's to low XXXX 's because of this irresponsible mistake by Affirm. I still have this {$960.00} check Affirm sent me that I WILL NOT CASH! It makes absolutely NO SENSE from them to send me a {$960.00} check, which isn't the correct amount, and then immediately report my account to a collection agency. NO SENSE WHATSOEVER! I have reported this to numerous agencies within Florida. I'm not a person who is trying to get anything out of this other then having this removed from my credit report. It should have never been on there. I disputed this on XXXX and sent all valid documents proving this irresponsibility on Affirms part and the only responses I get are " Affirm has validated '' the charged off. I'm absolutely not at fault here. My bank sent them the exact money amount to pay these loans off. They dropped the ball. I've followed all the protocols of trying to fix this problem Affirm caused. I have saved every document. I will take this to a lawyer if someone can not amend this mistake by Affirm. Even the Affirm customer service agents told me this makes no sense and admitted the error yet no one fixes it. In summary, they were sent the money, two checks, to pay off two loans. XXXX isn't talking to XXXX and no one wants to resolve this. They sent my account to a collection agency even though they have had all the money this entire time. They still do. I haven't, nor will I, cash this check. Please help!

Company response to consumer: Closed with explanation