Aqua Finance, Inc.

Regarding *** ***'s complaint on the behalf of *** ***:# We do not have written authorization to discuss the account with *** ***# We do have written authorization to discuss the account with a differ relative# Regarding the claim of canceling
on November 17th - Aqua Finance did receive a handwritten letter stating they wanted to cancel the loan, however, the standard three day right to cancel expired on October 28, so as the Finance Company, we are not able to cancel the loan, because Mr*** needed to cancel the PURCHASE with the Merchant, on or before October 28, 2014The loan is a valid and enforceable and this should close this matter

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
#1.- I faxed the written authorization letter to Aqua Finance.#2.- The samething Aqua Finance already recived the authorization to discuss the account with me *** ***.#3.- We cancel days before, my brother *** *** never recived a good explanation about days, the sales person Mr.*** was so persistent with my brother to sign, my sister in law was there as a witnessMy brother *** *** doesn't make enough money to pay this loan, he is a custodial, so please let me *** *** know whn they will pick it up the equipment that we are not to pay
Regards,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
The interest still should not fluctuate monthlyThe first statement states days in billing cycle is the interest charged was $The subsequent statements have double interest I would think....as credit card companies, Aqua Finance would want to keep customers and keep customers happy. If I've already paid my February bill and send in 1/of a payment, it doesn't take rocket science to figure out it was for the next billMaybe it would have been better for them to call and ask Why they are receiving additional fund I have multiple credit cards and do not have this problem.I was simply trying to cut down on the interest by paying a payment every weeksI made a total payment of $for MarchHow they applied or assumed I wanted it applied brings another problem
Regards,
*** ***

Regarding the points alluded to in the most recent complaint:# We do now have authorization to discuss the account with *** ***# Once again, and for the final time, the right to cancel has, and had, expired before any attempt was made on the part of the Customer to cancel this contract. The Dealer, AquaKleen, has been paid in full, the full amount of the purchase price Therefore Aqua Finance needs the full amount of the purchase price repaid, including interest, before the contract will be considered paid in full and any liens place against the home will be released Per the information on the credit application, Mr*** can indeed afford the payments, or he would not have been approved for the financing If any information is not correct on the credit application, that would constitute fraud on the part of Mr*** because he signed the application stating everything was true and accurate on the document.# Of course the customer has a right to complain, however that does not mean they are right, or can just get out of paying a valid, legal, and enforceable financing contract.Finally, this debt is a legal and enforceable debt Buyers remorse does not give the customer the right to just stop paying without consequences

If in fact Aqua Finance is such a upstanding, quality company, how come Aqua Finance has over 50 complaints filed against them with the BBB and there are hundreds of complaints against them from very unhappy customers.

Aqua Finance? Caveat Emptor!

Good morning. We
understand Ms. ***’s concern and will
address them in this follto our first explanation. At the rate of 17.99% annualized, interest
accrues on a daily basis. This is
outlined in Paragraph of the Revolving Credit agreement signed by Mrand Ms
*** that I attached in the previous response.
The interest charge is calculated
by taking each daily balance, multiplying that daily balance by the applicable
daily periodic rate (.04929%), adding together the resulting amounts for each
day in a billing cycle. This interest
accrues on a daily basis. For example,
interest began on this loan on December 5, 2014(date the contract was signed)
and Ms*** made her first payment of $on January 8, 2015. Therefore she accrued days of interest
charges. The interest at that time was
calculated off the amount financed of $5796.26.
This amount, multiplied by .04929% equals $2.856. The amount of $was the per diem in the
first billing cycle. (days)
multiplied by $equals $in interest charges which is what was
applied to interest on January 8th.
The remaining $was applied to principal. days later, Ms*** made an additional
payment of $206.00. Of that amount,
$went towards interest. days
later, Ms*** made another payment of $103.00. Of that amount $went towards
interest. This is less than half of what
she paid towards interest from her first billing statement, contrary to what
her complaint stated in regards to “double interest” Ms*** also states in her complaint that
she paid $in March which is incorrect.
She made one payment of $and an additional payment of $
totaling $in March of 2015. As I
explained in the prior response, this loan is a “Revolving Credit Agreement”
and the minimum monthly payment which is 2% of the amount financed must be made
each billing cycle and this loan is not designed to be “paid ahead”.
We understand Ms***’s frustrations in regards to making
two payments in February, but we are unable to contact customers who mail in
additional payments. We receive
thousands of payments each day and it would be impossible to track and contact
customers to inquire why they paid more than their minimum monthly
payment. Our hours of operation are 7:
AM to 8:PM Central Standard Time and welcome calls from our customers who
have questions regarding their billing statement. *** *** Senior Vice President - Account ServicingAqua Finance, Inc

Aqua Finance is one of the worst company's to deal with. They call all the phone numbers on our account 5 to 6 times a day. After speaking to one person another one will call later the same day. We spoke to someone who assured us on a payment plan to get caught back up with our account. We were behind because our son tried to commit suicide and we were in the hospital with him for weeks wondering if he was going to make it or not. During our hospital stay we were not working because we didn't want to leave our son's side. They assured us we would be able to catch up and there would be no problem. Today we got a paper in the mail saying the were filing a UCC on us. This was done right after we made the final arrangements to be caught up. I will not recommend this company to anyone. We have had nothing but problems from day one. If I could give this company a negative star review I would.

A very short answer for this complaint, which was dated 9/16/14.  First of all we have over 40 people ready and waiting to answer the phone and help
people such as Ms. [redacted] with issues that she has presented.  Ms. [redacted] called us on 9/15/14 and explained her problem.  She apparently...

did not like 
what she thought was going to be the final answer and hung up on us before she could be told that we were refunding her final payment of $200 and waiving the interest 
that had accrued since the promotion period had ended.  ON 9/17/14 the dealer she bought the system from called us and asked if anything could be done to help Ms. [redacted]
We then told the dealer, who relayed the information to Ms. [redacted], that the refund was already in the works and she should be receiving it shortly.
There has since been a phone conversation with Ms. [redacted] and we were led to believe she was very happy with the way this was handled.  If that is not the case I invite
her to call me during normal business hours to discuss.

Our response to Mr. [redacted]'s complaint is as follows:First Mr. [redacted] states he talked to a representative of Aqua Finance and was told he could "arrange payments" with the Company?At no time was there a conversation with Mr. [redacted], by a representative of Aqua Finance, where he was told the payment...

amount, that wasagreed to on the contract that he signed, could be changed, or "arranged".Mr. [redacted] bought his system from Elite Water Systems, who submitted his application to finance the purchase, to Aqua Finance.  The application tofinance the purchase was approved, under a revolving type loan.  The Retail Contract, as well as the Disclosure of Fees and Terms, clearly explains the minimum monthly payment is calculated on a 2% payment factor, based on the original balance.  This comes out to $180.  In addition, this loanwas approved and signed for on 7/14/2014, and the first we heard about Mr. [redacted]'s displeasure was on 11/24/2014.  Well after the 3-day right to cancel, and after the 3 month deferred payment promotion.  In addition, Mr. [redacted] was given a reduced interest rate, and the payment factor of 2% was reduced from the normal 2.5% payment factor.  Now if a representative of Elite Water Systems made a representation as to the payment being something different from what Mr. [redacted] agreed to by signing the contract, then he definitely needs to bring that up with them, or at the very least he should of called to verify that information with the lender, Aqua Finance Inc,prior to agreeing to the loan, or purchase. No representative from Aqua Finance would have even suggested $80 as a minimum monthly payment, first and foremost because the interest alone, on the original balance,would be $104.86 the first month, and $80 would obviously not even cover that.  Mr [redacted] has a valid and enforceable contract with Aqua Finance, no misrepresentation of any information was given out by Aqua Finance Inc.

We'd like to thank Mr. [redacted] for bringing his concerns to our attention.  I have reviewed his file and it appears that this issue has already been resolved today, but I do want to provide clarity and closure for Mr. [redacted] as a valued customer.  Mr. [redacted]'s first payment was due on...

November 22, 2016 and the payment was received in our office on November 28, 2016.  His December statement was generated on November 25th; prior to the payment being received or posted to the account.  Because the payment had not been received, the statement reflects a balance of two payments owed.  Mr. [redacted] also stated that he had been calling for for a few weeks with no returned call.  This is unacceptable and I sincerely apologize for this.  Unfortunately I do not see in our records any communication with him prior to today December 19th however I appreciate you bringing this to our attention so we may investigate further.   Lastly Mr. [redacted] states the financing was not clearly advertised to him at the time of the sale.  Again we apologize for this.   We do attempt to provide clarity regarding the financing during our initial call with each customer where we verify the terms of the loan and ask if there are any questions. This call was completed with Mr. [redacted] on October 21, 2016.   Again we'd like to thank Mr. [redacted] for contacting us.  I do see that arrangements to pay the loan in full were made today and we appreciate Mr. [redacted] as a customer.  If he has any further questions, he may contact me directly at 1-800-234-3663 extension 1181.  Thank you.Katie [redacted]AVP - [email protected]

We would like to thank Ms. [redacted] for bringing her concerns to our attention.  Her complaint states she contacted our office and was given the "run around".  Here at Aqua Finance, Inc. we have not received any calls from Ms. [redacted] regarding the dissatisfaction with her purchase.  She...

may have contacted Greater Air of Michigan, which is the company she purchased the air filters from.   Aqua Finance, Inc. is a separate company that did the financing for her loan.  On December 6, 2015 a representative from Greater Air of Michigan completed a sale of 3 SFS Air Cleaners.  Ms. [redacted] signed a contract for this purchase on the same day - December 6, 2015.  Her contract states that she had until December 10, 2015 to cancel her transaction.  She signed the Notice of Cancellation on December 6, 2015; acknowledging that she had received a copy of this notice.  I am including all paperwork signed by Ms. [redacted] for her convenience.   On December 11, 2015 a representative from Aqua Finance, Inc. contacted Ms. [redacted] to verify the terms of her loan.  This is a standard procedure to ensure our customers are satisfied with their purchase and to ensure any issues have been worked out prior to processing their loan.  These calls are recorded and our customers are advised of that.  On that call, Ms. [redacted] did verify the terms of her loan and stated she had "not received the filters yet", but that was because of her busy schedule and of no fault of Greater Air of Michigan.  We offered to call her back after the filters had been delivered and she declined saying everything was ok to proceed.  A copy of this recorded verification can be provided upon request.   Upon review of Ms. [redacted]'s complaint, we believe her dissatisfaction lies with the actual sale of the goods, not with the financing of the product.  Unfortunately Ms. [redacted] is outside of her 3 day right to cancel and payments will be due June 15, 2016 based on the promotion offered to her.   If Ms. [redacted] has any questions regarding the financing, I welcome her to contact me directly at ###-###-####.   Thank you.

We are in receipt of Mr. [redacted]'s complaint and respond as follows:In Mr. [redacted]'s complaint , he states he told ReNuEn, and their sales rep that he "would not sign any contracts until he was absolutely sure of what they were buying".  We received not only his credit application to...

finance the purchase, but also the Retail Installment Credit Agreement (Contract), the certificate of completion, and the Notice of right to cancel.  By Mr. Lgan's own statement we can ascertain he did know exactly what they were buying, and financing.  I addition, looking back at any and all conversations between Mr. [redacted] and our representatives here at Aqua Finance, including the recorded verification call made on 10/23/2014 atapproximation 1:09 PM, the list of concerns by Mr. [redacted] were as follows:11/7/2014 - Mr. [redacted] called wanting to cancel the loan.  It was explained to him that his 3 day right to cancel had expired.  Mr. [redacted] complained that the system was not working.  WE explained wewere the finance company and he would have to contact the dealer to discuss repairs or adjustments.No further contact with Mr. [redacted] until January 5, 2015, when he called and asked if we were "connected to the dealer"? We explained we are two completely separate companies.He claimed he was told he would have a 1% interest rate, we explained that per his contract, he had a 5.9% interest rate for the first year, and then it would increase to 13.9%.  Also that the 1%is the payment factor which means the minimum monthly payment is 1% of the original principal balance.  Mr.[redacted] at that time said he undersatood and was planning on paying us off shortly,  We gave him a 10 day payoff amount and the call ended.1/14/2015 - Mr. [redacted] called and asked for a copy of his contract, claiming he called earlier and never received anything.  There is no record of a previous call where he asked for a copy of his contract.  We told Mr. [redacted] that we would mail a copy of the contract to him.2/3/2015 - Mr [redacted] called in and told us he is filing suit against the Dealer for fraud, and that his Attorney wants to file suit against us also.  We asked Mr. [redacted] for his Attorney contact information,but he refused to give it to us.That was the last contact we had with Mr. [redacted], so as you can see, his claim of "forgery" in this Revdex.com complaint is the first time it is being brought up.  At no time did Mr. [redacted] ever make this allegation to us.  In addition, Mr. [redacted]'s claims that he sent us documents and proof that documents were forged with his signature is also false, or if he did, they were not received in our offices.Had we received such documents, we have the right to call the Dealer and demand that they repurchase the contract from us and Mr. [redacted] would no longer have any obligation to Aqua Finance.However, at this time, all Mr. [redacted] would have to do is produce his drivers licenses, which would have his signature on it, and we can compare that signature to the ones on the loan documentswe received from RenuEn.  Its that simple and could be done quickly, but to allege that he sent all kinds of documents is not prudent on Mr. [redacted]'s part.  A tno times did he make any claims of forgery, until this complaint.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
I will be filing a fraud report in order to have the hard inquiry removed from my credit report. Victoria [redacted] will also be filing one. Thank you for your time with this matter.
Regards,
Andrew [redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
I think the company is not realizing what I'm saying. I know what the terms were when I signed the document. However, they started charging interest as of 12/5/14 which is not right.  The system was not installed until 12/9/14.  The installer, [redacted] can be reached at ###-###-####.  The sales representative can be reached at ###-###-####; both of which can verify that I did not have true possession until 12/9/14. So the 4 days of interest should be refunded to me.  In addition, I spoke with a representative in which should have been recorded and told her on the verification call that I did not have the unit and she stated she would get with FL Energy Water & Air.  I assumed to verify I was not lying to her.
In regards to my payments.  You say your like a credit card. No, you are not.  ANY of my creditors would have applied any additional payment(s) to principal only thus reducing the interest.  If you can't "keep up with your customers" or however you put it, then you should close your doors or upgrade your software where a courtesy phone call would not put you in this situation.
The interest you charge is outrageous, yes.  I was willing to pay it until such time I could find other financing.  Hell, I was even open to keeping the account with you until your company called me stating I was $16 short.  I was no where near being short, but paid it because the guy I talked to was just doing his job.  He couldn't change anything; he either has to follow your policy or get fired. When I realized just how slimy your company was, that is when I had had enough.  So far in 2015 I've paid you $250 in interest, I'll be damned if I continue to give you my money when you want to screw people over and call them and put them through this BS.  If I was one not to pay my bills then I wouldn't have a credit score of over 800.
I showed your statement to a local bank here, they too agreed that you are a crook.  It is companies like you that put hard working, decent people in the poor house and ruin their credit. Well, not me. Your days of stealing my money is over!!! As of today, "Jonathan" took my payment IN FULL over the phone and you Mr. VP of Aqua Finance need to start listening to your customers.  I do believe that is why you are where you are!
I will close with this, I will tell anyone that is even remotely interested in using your company my experience.  I will let them know just how slimy you are.  I will also be speaking to an attorney about looking into a class action suite against you; so you may want to alert your legal team. I will also be sending a letter to the company (FL Energy Water & Air) about all of this.  They need to be aware of what kind of snakes they are promoting to their customers.
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
The issue has been resolved. BUT when I initially called was told I was in the wrong, basically that I was stupid & careless. The supervisor I spoke to was unbelievably arrogant, rude, & condescending. She told me tough luck, there was nothing that she would do about this situation.
Without a doubt, I was angry & frustrated. I begged the people I got the system from to call & back me up. They did. I got a call from AquaFinance saying they had made a mistake. They also could not explain why the first supervisor was unable or unwilling to help me.
These people need to reevaluate their customer service strategies. It is also remarkably hard to find a contact number for customer device issue.
I believe if I had not taken the time to fight this that they would have taken my money illegally & continued to do so.
Thanks you, [redacted]
Regards,
[redacted]

This company is horrible to work with. When we purchased our water system thru a private company, after a couple months it was sold to Aqua Finance. From the start it was a horrible experience... Our monthly payment went up and down each month, they raised our interest rate so high that our payments doubled just because of the interest, Aqua Finance would call my cell phone upwards of 5-6 times a day asking for $11, and another time it was $12. They would charge late fees (We were set up as a certain amount each month direct withdrawal) When they would change the amount each month then they would call and harass when they would not have the amount that was on the signed contract. In the end we went and got a loan to pay of Aqua Finance and are not looking back. They are a disgusting company to be affiliated with. Would not recommend to anyone.

In regards to Mr. [redacted]'s complaint, we have talked to him several times regarding this issue and why it cannot be added to the first account he opened.It has to do with the fact his first account has a "promotional rate" for the specific purchase, not the total credit line.  This...

promotional rate is paid for via a fee paid by his selling merchant.  ON Mr. [redacted]'s 2nd purchase, the seller did not pay the additional fee for the promotional rate.  This was explained toMr. [redacted] several times, by several Manager's.  We invited him to call his merchant that sold him the goods to negotiate/ask them to submit the necessarypaperwork and fee to get him the promotional rate on the 2nd purchase as well, which he said he would do.  However, by receiving this complaint, we assume he wasnot able to convince the merchant to do that for him.  Never the less, the standard interest rate and terms were used for the 2nd purchase, which was approximately 1 month after the first purchase.Again, the promotional rate was on the purchase price, not the credit limit for that account, and we cannot "blend" interest rates so therefore a 2nd accountwas opened for the 2nd purchase.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.I'm referring to the sale agents u send to targeted neighborhoods preying on them to leave water samples out on the porch without revealing who you are and the nature of your business. We bought a new construction home so within 1day of being in the residence we got a water packet letter.. leaving the water sample on the porch as instructed we thought this was standard protocol for the city water...not knowing it would lead to an agressive water filter salesman in my home! We asked your sales person repeatidly  to leave we would think about it but he got loud and agressive we felt intimidated to sign a finance agreement...we didn't pay for 9 months because we literally felt physically ill, discusted and angered of how we were hustled  into a contract. And 4 days to cancel is not enough standard should be 30 days...my husband and I were not looking for any new monthly payments and yes your "sales practices" and or whoever u partner with IS DECEPTIVE and PREYING. The seller has to tell me about my right to cancel. I'm stuck with something we do not want or need which is why we wanted ur rep to leave. 
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
I am glad that now you consider to discuss this account with me [redacted]. Once again WE CANCEL THIS ACCOUNT, we are not need, want or happy with this service. My brother Mr. [redacted] signed because [redacted] the sales person (###-###-####) was so persistent even though my brother and my sister in law told him several times that they want to think about it. PLEASE HAVE SALES PEOPLE WITH ETICAL PROFESSIONAL, if the customer said I am think about it is because they can't affort to pay. I know my brother is adult but for him is not easy to say NO NO NO, also their budget is not enough to have this payment, (maybe my brother put the information for the part time job that sometimes he didn't work) so we cancel into 30 days. My sister in law told me that they recived a call saying that it is ok to cancel because we cancel before 30 days.So please call Aquakleen and let them know that we won't pay and they need to refund the money and pick it up the equiptment, I already called them and they told me to deal this with Aqua Finance.   
Regards,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.The installation of the system is  finally installed satisfactorily, I hope, after the damage of 2 small, continuous leaks.  This doesn't resolve the fact that now the wood under the sink has been damaged.  This only partially resolved my issue.  The dishwasher was finally reconnected, the hole which surrounded the spout has been corrected and the garbage disposer is now working properly again.  Imagine my surprise to find out they had unhooked the garbage disposer and dishwasher in order to install the water system.  Who does that?! Although I am happy about these items being corrected, I am displeased about the molded wood that is now under the sink.  I would NOT ever recommend this company or any like it to someone.  I would expect that when a company is trusted to do a job to your family home, that job is done with expertise and respect.  I'm now apprehensive to even switch from AT&T cable to Dish.  Then to add insult to injury, they had the audacity to say there was already damage under the sink prior to the system being installed into a 4 year old home.  If I had not continually complained and reached out to the Revdex.com my complaints would have continued to go unheard.
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]
Regards,
Craig [redacted]