Student loan -- Dealing with your lender or servicer -- Complaint #5260371
Complaint Overview
Complaint ID: 5260371
Company: Social Finance, INC.
Product: Student loan
Sub-Product: Private student loan
Issue: Dealing with your lender or servicer
Sub-Issue: Trouble with how payments are being handled
State: Pennsylvania
ZIP Code: 19426
Date Received: 2022-02-24T12:00:00-05:00
Date Sent to Company: 2022-02-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Despite numerous phone calls SoFi Technologies , Inc. " SoFi '' instructing them to apply extra payments to the principal balance ONLY, while paying my monthly payment, SoFi refuses to apply the extra loan payments to the principal balance. The payments are applied in different manners, some towards principal, some towards interest. One extra paym ent was applied towards principal ; then another just towards interest. No rhyme or reason on how the extra payments are applied. Who in their right mind would pre-pay interest? We called multiple times and are told someone will call us back and they never do. Predatory and deceptive leading practices.
Frequently Asked Questions
What is Complaint #5260371 about?
Complaint #5260371 was filed against Social Finance, INC. regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2022-02-24T12:00:00-05:00.
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 (Student 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.