Current Alerts For This Business
BBB files indicate Self Financial Inc. has a pattern of complaints concerning contract and credit reporting issues. Specifically, consumer complaints allege objections about debts listed on their credit report including questions regarding liability for debts from Self Financial and/or Lead Bank. Some consumers allege they do not have a contract with Self Financial or in some instances have not received a copy of their original contract when they requested it from Self Financial Inc.
On October 12, 2023, Self Financial Inc. responded that their products report under the Fair Credit Reporting Act (FCRA) requirements resulting in both positive and negative information being supplied to the Credit Bureaus based on the actions of the consumer. Self Financial Inc. replied if their customer attempts to have negative history removed it is often an action recommended in social media circles, but consumers agree to Self Financial Inc.’s 1) Terms and Conditions which outlines the terms of the accounts Self Financial Inc. offers 2) Loan Documents in which the customer agree to the loan terms during onboarding and is provided a copy in their dashboard. 3) Cardmember Agreement (Secured card)-The customer agrees to the cardmember agreement and terms during their onboarding. The agreement is also provided in the customer’s dashboard. Self Financial’s response also detailed accounts cannot be created without a customer agreeing to it and other items during onboarding of both the Credit Builder and Secured Credit Card accounts.
BBB files also indicate that Self Financial Inc. has a pattern of complaints concerning consumers unaware of a personal loan or credit card opened in their name with Self Financial Inc.
Self Financial Inc. responded they have a robust practice of verifying the identity of their consumers during the onboarding process. BBB provided examples of complaints with these concerns and Self Financial Inc. responded claiming of ID theft continues to be a tactic promoted in social media circles as a method to remove delinquent tradelines; Self Financial Inc. responded the examples BBB referenced fit this narrative. Self investigated the complaints into possible ID theft and confirmed the customers agreed to the accounts in question and provided a response reflecting their findings.
BBB determined Self Financial Inc.’s response did not reflect a summary of actions to work on addressing or eliminating the underlying pattern of complaint concerns.