XXXX moments later on We obtained a special text alerting me personally that loan had funded

“Continue checking sometimes observe exactly what Sofi provides you with the few months. I refinanced having Sofi in to an effective 5.35% rate (5.1% pursuing the vehicle-pay attention write off) having a beneficial 10 seasons mortgage (

$125k harmony). I then refinanced which have Sofi again in to a beneficial cuatro.0% interest (step three.75% following vehicles-spend dismiss) that have an excellent eight 12 months mortgage (

Just one thing to keep in mind – keep examining back towards the prices as it doesn’t rates anything to continue refinancing with Sofi.” – SaguaroSpines towards reddit, 8/

The guy verified your finance was obtained in the XXXX XXXX XXXX XXXX and that family savings XXXX try underneath the name XXXX XXXX

Far more unfiltered customer reviews out-of SoFi are available from the TrustPilot (cuatro.six off 5), and you can ConsumerAffairs (2.8 out-of 5).

SoFi Consumer Complaints

As the individual boat finance companies, student loan refinancing lenders fall into the fresh jurisdiction of the Individual Economic Coverage Bureau (CFPB), a federal agencies. As part of their goal, the fresh new CFPB allows customers so you’re able to journal formal grievances. This type of complaints are in public areas on the latest CFPB specialized webpages.

Given that , users features submitted 1,296 issues in the SoFi getting on average that (1) ailment the about three (3) days; which is almost 15 times the common every day criticism price certainly one of examined loan providers. One of several 601 issues which have personal narratives, at the very least 58 (9.65%) resource student loan refinancing.

People file the latest annual same in principle as that (1) criticism for each and every $5.326 million when you look at the estimated business revenue or one (1) grievance for every sixteen personnel.

The allegations made in these complaints are unverified, are not necessarily associate of all consumers’ experiences with SoFi, and can get incorporate outdated suggestions (about rates, bonus offers, etc.). Note that a lender with a large customer base is likely to also have a higher number of complaints when compared with smaller lenders.

Below we’ve got integrated about three (3) of the very present and relevant grievances (at this composing) where consumer consented to revealing the information.

“On XXXX I received a text message from phone number XXXX that my SOFI loan was in process, but that additional information was required to secure the loan. The message included a link to complete the application. I had not started a loan application or any inquiry into a loan application and I assumed this was a fraudulent text. I replied STOP to opt out of any future correspondence. Aprox. On XX/XX/22 I received multiple calls from XXXX phone number XXXX requesting information to complete another loan application. This prompted me to check my credit report. Upon which time I noticed that SOFI had pulled my credit on XX/XX/22 are title loans legal in Maryland. I called SOFI and learned that a personal loan in the amount of <$1>had been dispersed to XXXX XXXX XXXX XXXX XXXX XXXX XXXX. SOFI had all of my personal information on file ( XXXX, XXXX, Home Address, Phone, etc. ) I notified SOFI that this was a case of identity fraud and as of XX/XX/22 my case was being reviewed by their Fraud Dept. I called XXXX XXXX XXXX Bank and spoke to XXXX XXXX ( phone XXXX ) who works in their Fraud Dept. SOFI keeps forwarding me to their Fraud Investigative Team phone number ( XXXX ) that goes straight to voice mail. I can not get a valid case number or confirmation number and they will not give me a phone number or email address to call them directly. The funds have already been dispersed and I want this transaction wiped from my credit and all of my personal information removed from XXXX XXXX.”