Beacon Construction Co

We do follow fair collections practices. Please continue to advise of the date you are able to make a payment on the loan when being contacted regarding a delinquent payment on the account. The account will be noted in regards to your intention. However, until the payment is actually made and the...

account is current, the collection calls will continue.

Ms. [redacted] was given the telephone number to the district manager but the district manager has not received a call from her as of yet. She continues to contact the offices and speak to loan officers regarding her situation. The district manager is mobile and if Ms. [redacted] calls...

her directly, she will be able to speak with her or leave a voicemail so she can contact her back. We are lien holders on the title, so we can not release the title until the loan is paid in full. To transfer registration from one state to another as Ms. [redacted] is attempting to do, the customer does not have to have title in hand. Many people transfer registration and are still financing their vehicle, so they never have physical possession of the title. The same is the case with a title loan, we can not release the title while we are still lien holders with an open account. As for the interest on the account, the client may want to refer to her contract. The APR on the loan is at 180% for a 12 month amortized loan. A loan officer goes over the contract extensively prior to asking the client to sign anything. So the loan was set at the 12 month term and she signed the contract agreeing to those terms. I am not certain where the client gets the rate of 300% from.

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.
It took over 5 months to get you to accept that you were incorrect in calling our number. After several attempts by my wife and myself to explain the situation,  to be hung up on by your associates, can not be resolved by your "oopsie! Our bad" answer. I requested to speak to a supervisor multiple times, only to be told that none were available. I made requests to have the supervisors call me directly, they never did.  I emailed the statement that one of your associates instructed me to, you try to get your company to stop calling, only to be followed by more phone calls. Perhaps this matter seems resolved to you by saying oopsie. I feel that you and every one of your employees disrespected my wife and myself. Maybe if one single person would have taken the time to listen to us when we tried to explain that your company was incorrect, this whole ugly situation would have been avoided.  How would you like to handle that? 
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. 
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 never once talked to anyone from Auto Equity loans over the phone before driving to Delaware. I talked to a brokerage that fields inquiries and sets people up with possible loan options. So nothing was explained over the phone. I also lost half my income, so yes when the loan first started I had twice the income. I am trying to work out a settlement to still have the company make money and still work with me. My income is less than 1000 a month. The car payment is $615.00. Tell me can you live on less than 400 a month, and still eat, pay for medications? pay for doctors co-pays? I am on disability, but you don't want to work with me because you want to take a car worth $25,000 and sell it for $10,000 which is ridiculous. This loan is now current. I have made 5 payments on it leaving 19 payments to go.. 19 payments at 615.00 is $11,685!!! plus what I already paid.. making this $5,500 loan cost over $14,000!! I am trying to work something out with you that is reasonable to all parties. I see that you will not budge nor bend in anyway to help a customer, very disappointing and I hope you never find yourself in a situation where your income is reduced and yet your auto loan company won't work with you to help keep your vehicle and still make money. Such a shame. Holding a vehicle hostage to extort a ridiculous amount of interest is frustrating, infuriating and disappointing. You are telling me I can pay $5000 and come and redo loan for balance. I am unable to come in and do anything. I have paid $1200 so no longer even have $5000. I now have $3000 I can pay, but if it doesn't reduce the loan payment then paying it does not help me. I can NOT continue to pay $615.00 a month and still live, I need a reduced monthly payment or settlement.

Ms. [redacted], you do have the right to request a full payment history of your loan. We would be more than happy to furnish you with that information. It will show each payment made on the loan, the balance after the payment was made , as well as the interest accrued on the loan daily. A lot of times it...

helps to have the payment history statement so that you can visually see the loan history from day one to present day. All you will need to do is call your office for that information and we can send it to you via mail or fax.

Ms. [redacted], we would love to work with you regarding your loan. The reason you are being that asked to pay that amount is because your loan terms actually expire on 8/1/2017. However, we understand that you may not have the balance due to make the final payment due. There are options. You can come...

into the office and refinance the loan to extend your payments for another 12 months. We may be able to lower your interest rate as well, to help you pay down the loan faster. That will give you more time to pay it down with out defaulting on the loan and it should lower your monthly payments. You can of course pay the loan off early if/when you are able. Please contact the office today and ask about extending your loan terms today. Thank you, Auto Equity Loans

Unfortunately because we did not have your up to date address on file, the check was sent to the last address you had placed on your account. The check was sent to that address via certified mail. Again, by law we must mail all correspondence to the address you have placed on your account. The post office then held it for almost 20 days at their office. They do this to allow the addressee a certain amount of time to pick up the certified mail item. The check has since been returned to our office. We have spoken with you, and have you scheduled to come and pick up your check on February 28th, 2018.

Ms. [redacted], we are a financial institution. Therefor when a debt goes into default, we attempt to collect on said debt. We do offer all of our clients a 10-day grace period before the payment is actually considered past due. We are currently a lien holder on your title, as your vehicle was used...

as collateral on this loan. This is a short term loan, so the interest rate is higher than a conventional long term loan. We hold a signed contract where you were informed of the rates, with your signature. At this point as your lender, we have lent you funds on collateral that you have admittedly traded in, although we are the current lien holder on that vehicle. Doing that is illegal. We have the right as your lender to file a judgment against you for doing that. However we have withheld from doing that to date. We are simply following fair collections practices and attempting to collect upon a debt owed to us. Regarding the billing, a payment schedule is part of the signed contract, please refer to that document for scheduled due dates. We also send a payment receipt either via email or mail that states when the next due date is. Please contact the office if you are in need of another copy of your payment schedule and we will be more than happy to mail another one out to you. Texting a payment reminder to our clients is actually a courtesy that we offer. In closing, we are currently attempting to collect upon a debt owed. We are following fair collection practices in our attempt to collect this debt. Thank you, Auto Equity Loans

Mr. [redacted], my sincerest apologies for this confusion. I have looked into the reason why our company had been calling you. A client of ours had incorrectly listed your number for one of his contact persons. You telephone number has since been removed from the system and you will no longer...

be receiving any calls from our company. Thank you, Auto Equity Loans