My husband talked with a bank about refinancing and gave them our credit card number to proceed with the $400
application fee. He received a paper about the $400 but did not sign it. I am the primary applicant and I did not sign it either. We changed our mind about proceeding with the application and within three hours of my husband's visit to the bank, we contacted the loan officer to cancel the application (the bank was closed so we e-mailed her). We also called our credit card company to cancel payment. The loan officer responded to our e-mail saying that we still owed the $400 and to give her a good credit card number since the other credit card transaction didn't go through. Any thoughts? Do we owe $400 although we didn't sign anything? Is it okay to cancel payment as we did with our credit card? We don't want to deal with the headache of bad credit from this.Thank you!
Adding to Ed's comment.
http://www.sml.state.tx.us/
This link is to the agency over loan officers in the State of Texas.
They take complaints VERY seriously. They are on the consumer's side!!!
I don't know what that bank's policies are, but they should not pursue this based on the fact that you did not sign an authorization and you called to cancel with three hours. If the loan officer keeps pursuing this, I would recommend that you call her boss and explain the situation. That should be enough to clear it up.
In my opinion, they are just being jerks.
They have not spent any money on your file that you need to pay them back for. Up front application fees are a ploy to make you feel roped into the transaction and less likely to shop around.
You should name the lender.
Tell them to produce an invoice detailing the charges that you owe. They won't produce it because they can't.
Good for you by calling the credit card company.
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