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SoFi Reviews (141)

Complaint: [redacted]I am rejecting this response because: As I already noted, the path forward that SoFi gave me was only to reapply for a loan for the current rates offered which were higher then when I originally applied.  This is not resolving what my issue is at all.  I would only accept the response if I could get the same rate I applied for since I did reach out several times, which was explained in a prior post. 
In the last response from SoFi they mentioned that I received an email on 12/15, but did not call back until 12/26.  The email on 12/15 was in a response to an email I had sent SoFi asking what was taking so long and they told me that application review times vary.  It did say I could call, but from that response I would assume that I was only bothering them to call and check again. If they mentioned that there was something they were missing and I needed to call then I would have called right away.  That was not indicated at all on the 12/15 email.  Then when I did call in on 12/26, the customer service representative did not give me any indication that my application was expiring in 3 days.  And according to a more recent phone call with SoFi they do not even plan to contact their customers more than 3 times by phone (which according to them had already taken place) so if that was the case then why would it have mattered if I changed my number to a cell phone number if they weren't going to call back anyway? The customer service representative should have alerted the review team at that time to let them know that I had not received any phone calls or voice mails and had them reach out to me again before the application expired.  
I tried multiple times to reach out and SoFi refrained from giving me all of the information when I did reach out causing the application to expire.  It was not because of my lack of communication that the application expired so I feel that I should be able to receive the same rate as when I first applied. 
Sincerely,[redacted]

Initial Business Response /* (1000, 5, 2015/10/30) */
Contact Name and Title: [redacted]
Contact Phone: XXXXXXXXXX
Contact Email: [redacted]@sofi.org
SoFi acknowledges receipt of the above referenced inquiry. While I am unable to discuss the specifics of the application due to privacy...

concerns, SoFi is pleased to have continued to work with Mr. [redacted] to bring his transaction to a successful conclusion.
Every application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community members.
We appreciates the feedback provided by Mr. [redacted] and I extend my apologies for any inconvenience he may have experienced.
Initial Consumer Rebuttal /* (2000, 7, 2015/11/02) */
(The consumer indicated he/she ACCEPTED the response from the business.)
They reconsidered their position and granted my loan request.

Complaint: [redacted]I am rejecting this response because: neither SoFi nor [redacted] is stepping up on this issue.  Clearly, I have made 3 payments that were intercepted and deposited.  I have a great payment record with SoFi, as they admitted and they are not will to resolve this issue.  Now my credit score is being adversely impacted.  This is not fair!!
Sincerely,[redacted]

SoFi acknowledges receipt of the above referenced inquiry. Every application is individual, varies in complexity and SoFi aims to deliver an exceptional customer experience to each of our community members. While I am unable to discuss the specifics of the application due to privacy concerns we...

appreciate the time [redacted] provided in further discussing this inquiry.

Initial Business Response /* (1000, 5, 2015/11/17) */
Contact Name and Title: [redacted]
Contact Phone: XXXXXXXXXX
Contact Email: [redacted]@sofi.org
SoFi acknowledges receipt of the above referenced inquiry. While I am unable to discuss the specifics of the application due to privacy...

concerns, SoFi is pleased to have continued to work with Mr. [redacted] to bring his transaction to a successful conclusion.
Every application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community members.
I extend my apologies for any inconvenience Mr. [redacted] experienced.
Initial Consumer Rebuttal /* (2000, 7, 2015/11/18) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Initial Business Response /* (1000, 5, 2016/03/09) */
Contact Name and Title: [redacted]
Contact Phone: XXXXXXXXXX
Contact Email: [redacted]@sofi.org
SoFi acknowledges receipt of the above referenced inquiry.

We appreciate the time Mr. [redacted] provided in further discussing this inquiry...

with us. While I am unable to discuss specifics of the application due to privacy concerns I extend my apologies for any inconvenience he may have experienced.

Each application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community members.
Initial Consumer Rebuttal /* (3000, 7, 2016/03/15) */
(The consumer indicated he/she DID NOT accept the response from the business.)
While a member of the SoFi team (not the one responding on this site) took the time to contact me regarding my complaint to the Revdex.com, no action was taken to address my concerns or correct the deceptive and even fraudulent advertising practices I reported. Further, the SoFi response contained multiple bold faced lies. The bottom line is that SoFi is making promises it simply cannot keep and it needs to own up to its failures and not try to mislead the public and potential customers. SoFi has done nothing but waste my time and money since I learned of the company and I truly hope other borrowers in the student loan refi market do not give any consideration to this poor excuse for a financial institution.

SoFi acknowledges the complaint and appreciates the opportunity to respond. On [redacted], the Applicant initiated an application with SoFi for a loan product. Within the application process applicants are presented with a consent box for a soft credit pull. If consent is provided by an applicant SoFi...

will run the soft credit pull. A soft credit pull will not impact the applicants credit score.  The application was declined as a result of the information SoFi received in the soft pull. The application did not progress to a hard credit pull. SoFi received an email from the Applicant on [redacted] voicing the concerns about the soft pull of the credit, at which time SoFi responded requesting to speak in further detail about the situation to offer clarity. The applicant declined, requesting closure of the application and no further contact from SoFi. SoFi can confirm that the application has been deactivated and is no longer active. SoFi regrets any confusion regarding the soft pull of the credit, and encourages the Applicant to reach out to SoFi directly with any additional concerns.

Initial Business Response /* (1000, 5, 2016/01/13) */
SoFi acknowledges receipt of the above referenced inquiry. While I am unable to discuss the specifics of the application due to privacy concerns, SoFi is pleased to have continued to work with Mr. [redacted] to bring his transaction to a successful...

conclusion.
Every application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community members.
I extend my apologies for any inconvenience Mr. [redacted] experienced.

Complaint: [redacted]I am rejecting this response because:It is still not resolved. I still have no confirmation that it has been removed from credit reports. Each time SoFi contacts me, it is a different person each time. Each one of them tells me something different Sincerely,[redacted]

SoFi acknowledges receipt of the complaint submitted by [redacted] and has attempted to contact him to provide clarity on the situation.
As stated within the signed Loan Agreement, an income-based repayment plan is not available to [redacted]. More information on the loss of income-sensitive,...

income-contingent, income-based, graduated or extended repayment options may be found within the Loan Agreement signed and dated by the complainant on [redacted].
During the student loan refinance application process, [redacted] provided SoFi with evidence of his two outstanding student loans serviced by [redacted]; SoFi subsequently approved and funded a loan for $[redacted] on [redacted]. This amount was outlined in the loan acceptance documents that were signed and agreed upon by [redacted]. A check in the amount of $[redacted] was sent to [redacted] on or around [redacted].
Regarding the outstanding loan amount of $[redacted] shown on the National Student Loan Data System (“NSLDS”) (https://www.nslds.ed.gov/nslds/nslds_SA/), it is possible that this information is not up-to-date. The NSLDS website states “Outstanding principal balance listed by NSLDS may be as much as 120 days old. You can contact the loan servicer for more up-to-date balance information.” We recommend the complainant contacts the loan servicer to obtain the most-accurate information.
The complainant asserted that his variable rate changed four times in two months; however, our records indicate the rate changed concurrently with the London Interbank Offered Rate (LIBOR) only once per month since funding, in accordance with the Loan Agreement. If [redacted] believes this information to be inaccurate, we encourage him to contact us so that we may explain the rate changes in greater detail.
SoFi has had repeated, unsuccessful attempts contacting [redacted] regarding this situation. SoFi looks forward to the opportunity to assist [redacted] with any remaining concerns he may have. He may reach us at 855-456-7634, Monday-Thursday 6am-8pm PST and Thursday-Sunday 6am-4pm PST.

SoFi has received the complaint filed by [redacted]. SoFi has reached out to [redacted] since the date of complaint and feels we have come to an appropriate solution.  We regret any customer service challenges as this isn’t indicative of the way we typically do business.
On [redacted]...

[redacted] was approved for a SoFi Personal Loan and loan documents were generated for electronic signature. [redacted]on was unable to sign the documents and it was determined that there may be a security freeze on his credit profile prohibiting him from completing the security verification prior to signing. SoFi initiated a secondary final review to determine if we could move forward with [redacted]on signing the loan documents through a back-up process. During the review, [redacted]on called SoFi to withdraw his application as he felt the process was taking too long. On [redacted] SoFi reached out to [redacted]on to express apologies for the frustration and impact caused to him. The review was complete and [redacted]on signed successfully for his Personal Loan.
During SoFi’s investigation of this complaint it was determined that there were gaps in SoFi’s communication with [redacted]on regarding the steps to complete the process. We appreciate [redacted]on bringing his experience with SoFi to our attention to provide appropriate coaching to the agents involved. Additionally, SoFi has taken steps to improve the signing process for all applicants moving forward. We appreciate the opportunity to do business with [redacted]on and encourage him to bring any other questions or concerns to SoFi’s attention.

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted]4, and find that this resolution is satisfactory to me. Sincerely, C. T[redacted]

SoFi acknowledges the complaint by [redacted] and appreciates the opportunity to respond. SoFi regrets having caused any frustration and upon further contact with [redacted] an appropriate resolution was reached.
[redacted] applied for a SoFi Personal loan on [redacted]. After reviewing the...

application on [redacted], a fraud victim indicator was documented on the applicant’s credit profile, placed there by the consumer. The instructions, for this particular fraud victim indicator, does not allow us to extend credit or goods without first contacting the applicant at the phone number specifically listed on the credit profile. Once identity is confirmed we can verify the application information.
SoFi attempted to reach [redacted] at the phone number listed on [redacted] and [redacted] and was unsuccessful, the application was subsequently declined. [redacted] called to inquire as to the reason for the decline on [redacted]. We explained that attempts to reach him at the number provided on his credit profile were unsuccessful. SoFi reached out to [redacted] on [redacted] and walked him through re-applying and cleared the Fraud Shield Indicator the same day.
SoFi considers the protection of our consumers’ identities to be the highest priority. We appreciate [redacted] bringing his concerns to SoFi and are happy we could assist him in reapplying. We look forward to our ongoing relationship with [redacted].

We appreciate the time provided by [redacted] to discuss his application and I extend my apologies for any inconvenience he has experienced. Each application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community...

members. SoFi is pleased to continue to work with [redacted] on resolving the concerns raised and we remain available to answer any future questions that may arise.

Initial Business Response /* (1000, 5, 2016/01/13) */
Contact Name and Title: [redacted]
Contact Phone: XXXXXXXXXX
Contact Email: [redacted]@sofi.org
We appreciate the time provided by Mr. [redacted] to discuss his application and I extend my apologies for any inconvenience he has...

experienced.
Each application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community members.
SoFi is pleased to continue to work with Mr. [redacted] on his application.
Initial Consumer Rebuttal /* (2000, 7, 2016/01/14) */
(The consumer indicated he/she ACCEPTED the response from the business.)

Complaint: [redacted]
I am rejecting this response because:The account of the call is most incorrect. I stated I DID wish a return call from a decision maker. The line was abruptly cut as likely my occupation had a loud noise that likely caused the agent to hang up. Until we have a conversation with a decision maker, we wholesale, categorically, and completely reject any simple explanation of policy. We continue to ask that a decision maker call us. 
Sincerely,
[redacted]

SoFi acknowledges and appreciates [redacted] bringing this issue to our attention. SoFi has corrected the issue with [redacted] application. We have spoken with [redacted] and believe that the resolution was to his satisfaction. We apologize for any frustration that was caused and appreciate his...

feedback.
On [redacted] created a profile atsofi.comand started an application for a student loan refinance. After consenting to a soft credit pull we received a response code from [redacted] that made us unable to receive his credit profile. SoFi’s system generated a denial letter that was sent to [redacted] listing his credit score as 4 causing considerable frustration. We reached out to [redacted] apologizing for the system error which occurred on his application. While speaking to [redacted] we were able to verify all of his information and complete the soft credit inquiry through [redacted] successfully.

Complaint: [redacted]I am rejecting this response because:
 
The business is failing to meet an important consumer expectation of a credit provider.  Their response was to revoke my automatic debits and increase my APR on the loan.  This is simply not an acceptable response from a company that provides a government regulated service.  They need to move the payment date for my regularly scheduled automatic withdrawal.  That's it.
Sincerely,[redacted]

Contact Name and Title: [redacted]Contact Phone: [redacted]Contact Email: [redacted]SoFi acknowledges receipt of the above referenced inquiry.Each application is highly individual, varies in complexity and SoFi works to deliver an exceptional customer experience to each of our community members.While I am unable to discuss the specifics of the application due to privacy concerns we appreciate the time **. [redacted] provided in further discussing this inquiry and are pleased to have continued working with him on his application.

Initial Business Response /* (1000, 10, 2015/10/05) */
Ms. [redacted] was contacted upon review of the application in question. Details of the sequence of events leading up to the withdrawal of the application on 9/11/2015 were discussed.

Based upon this conversation and a review of documents...

provided by Ms. [redacted], we were able to resolve outstanding questions.
A call and email were placed to Ms. [redacted] on 9/26 to confirm there were no outstanding questions.

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Address: 6175 Main St STE 490, Frisco, Texas, United States, 75034-3441

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