![]() ![]() I have investigated your concerns with my findings detailed below įirstly, I would like to note that I can see youve contacted us directly alongside raising this complaint and have had your concerns addressed by one of my colleagues but I will reiterate what was explained for the purpose of complete clarity. I understand that youre concerned that you have been charged for something you did not sign up for. Thank you for getting in touch with us via the Better Business Bureau. We provide an opportunity to the co-signer a simple way of not proceeding, should they not be certain they would like to continue. Our verification checks do not end there, even after this we have fraud prevention methods in place with regards to where the funds are paid which also allows the co-signer another opportunity to be 100% certain that they would like to proceed with the loan. This also helps us confirm that it was in fact they who provided their details to be a co-signer and agree to the terms and conditions of the loan. We would never pay a loan out without verifying their identity and their address first. We have various checks in place to ensure that is as far as it could possibly go such as credit file inquiry. "Whilst it is possible that their details may be provided to us without their consent, that is just the nature of being an online lender as mentioned in our initial email. consumers allege being signed up as co-signer without knowledge or authorization.Currently customers get reminded of their first 2 repayments only.Įxpanding our communication with Credit Builder consumers from email alone, to email and SMS, whereĪppropriate, as we recognize that emails could be getting caught in Spam filters” The addition of monthly payment reminders to our Credit Builder customers so that they are fully aware of whenĪnd how their scheduled payments will be made. Plan to make to solve this problem include: Product the customer is entering into including the price, frequency, and benefits of the product. Made formatting changes to the page to further highlight important terms in an attempt to better clarify the Through the application process without fully reading the information provided to them on page. “We have also made changes to our Credit Builder sign up journey, as we recognized that consumers were moving consumers allege automatically being signed up and charged $5 for the Credit Builder program without authorization.The addition of further checks against the cards that are added to verify the information matches the applicants Where borrowers have signed them up prematurely. Moving towards a soft-search will limit the damage these searches could have on co-signers This check without permission from the co-signer is an offense, it is clear that this warning does not stop thisīehavior entirely. Whilst we currently warn borrowers that agreeing to ![]() ![]() Them, resulting in an unauthorized hard inquiry credit search. We understand that despite our warnings,īorrowers will often name a co-signer and ‘test’ them out for pre-approval prior to having had a conversation with “Moving from hard inquiry searches to soft searches for our co-signers. consumers allege that their credit was checked without applying for a loan or prior contact with business.Regarding the collecting of banking information and identity verification which has resulted in a further 19% Further changes have also been made in the customer journey This change has immediately resulted in us rejecting 5-10% ofĪpplicants, prior to any credit check being run. Internal fraud indicator algorithmic checks. “We’ve recently introduced changes that will automatically decline customer’s applications should they match our consumers allege that they were approved for loans that they did not apply for. ![]()
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