CFPB Complaint

Social Finance, Inc. – CFPB Complaint 2018-02-27

Consumer Complaint Submission

Date Received: 2018-02-27

Product: Private student loan

Issue: Getting a loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I applied for a medical school student refinancing loan from SoFi in XXXX of 2017. I submitted all appropriate forms and paperwork related to my public and private student loans through their online portal. However, they had significant difficulty ‘validating ‘ the private loan. Over FOUR MONTHS I was asked repeatedly to upload promissory notes, proof of loan educational status, and other correspondences with my private bank loan, each time finding a new form or reason to delay the process. Because of these delays, I had to upload work pay stubs, interest statements and proof of employment MULTIPLE TIMES because a prior example would ‘expire ‘. Additionally I was subjected to MULTIPLE HARD CREDIT PULLS because of the delays. As over four months of acquiring sensitive, personal financial information has yielded continuous roadblocks, I can only assume their business practices are ultimately fraudulent and designed to acquire this information for financial gain.

Company: Social Finance, Inc.

State/Zip: PA 191XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2827409

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