Tamara C.

I signed an agreement for a personal loan for debt consolidation with SoFi. The terms presented that I believed I agreed to was a monthly payment of $919.75 with an APR of 15.970%. What I am actually being charged is $1,259.40 with an APR of 13.210%. What I was told by the company representative was that the monthly payment I was presented was the amount NOT INCLUDING interest. I have never ever in my life seen a presented monthly payment that did not include the amount of interest paid as well. I had no reason to suspect that the payment shown by SoFi was not the actual monthly payment. I was told by the company representative that there is absolutely no recourse, other than possibly refinancing the loan for a longer term, which will result in paying thousands of dollars of additional fees to SoFi. I am absolutely trapped and feel sick that I was deceived by a company in this way. Had I been presented up front with the actual monthly payment amount, I would not have gone through with the loan process because I would have known that it was out of my budget. This practice by SoFi is disgusting, deceptive, and actively against the best interest of the consumer.

I was told that I owed a balance, in spite of having paid with every order placed and never receiving a bill. When I attempted to pay, the balance due on the account was $0. I requested that they provide a billing history showing when I incurred this balance (why wasn't it included on the order total that I did pay? Why is my account showing $0 balance when I try to pay if there is a supposed payment due?) so that I would have information before sending a payment. They said they would provide a history, but I never received one. They said I could call and make a special payment since the online account wouldn't allow me to make a payment on my $0 account. It all sounded incredibly fishy. Any balance should have shown up on the account, and it should have been simple to email or snail-mail a balance history. Dealing with the customer service for this process was a total nightmare. They were rude and not helpful. I wish I could completely divorce myself from this company, but I'm stuck with them due to my company's insurance policy. I will never use their mail service again, though.