Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #5099940
Complaint Overview
Complaint ID: 5099940
Company: Social Finance, INC.
Product: Payday loan, title loan, or personal loan
Sub-Product: Installment loan
Issue: Charged fees or interest you didn't expect
State: Nevada
ZIP Code: 89102
Date Received: 2022-01-11T12:00:00-05:00
Date Sent to Company: 2022-01-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I requested and was approved for a loan with SoFi. The terms of the loan required that I also open a checking account and MUST have direct deposit into that account as well as make my monthly payments from that checking account. Sofi then decided to block the checking account and restrict access to the account. They refuse to speak to me and only have a voicemail to leave a message. I was told that if I dont make a payment from the checking account that I will now have to pay a higher interest rate but I can not pay from a restricted account. The representative told me I have to email sofi.org even though the website is sofi.com
Frequently Asked Questions
What is Complaint #5099940 about?
Complaint #5099940 was filed against Social Finance, INC. regarding Payday loan, title loan, or personal loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2022-01-11T12:00:00-05:00.
How did Social Finance, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, or personal loan) and describe your issue in detail.
Can I see other complaints against Social Finance, INC.?
Yes, visit the Social Finance, INC. company profile at readthecomplaint.com/company/social-finance-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.