Carfinco

Initial Business Response / [redacted] (1000, 5, 2016/03/09) */ [redacted] , We apologize for any inconvenience caused to youI do see that we called you once after your first request was received in April We did receive your second email request on Monday and subsequently have already removed your number from our customer's reference listYou should not receive any further calls from us in regards to [redacted] and again please accept my apologies that your number was not removed on your first request Initial Consumer Rebuttal / [redacted] (2000, 7, 2016/03/10) */ (The consumer indicated he/she ACCEPTED the response from the business.) As long as this is true this time we are satisfied with the result

Jon, In this email you were advised to make the current past due balance on [redacted] *** and we deferred a past due payment as wellBecause a payment was deferred, the account was not eligible for a permanent due date change as these cannot be processed back to backWe require a payment in between which is why you were advised to hold the payment that was then due on [redacted] Unfortunately you did not make a payment on [redacted] as you were advised so your account again went into a past due status which means that we could not have processed the permanent changeHad the payment been made on [redacted] as *** advised you, we could have processed the permanent change at that point

I am letting carfinco take the vehicle back Sincerely, Jon Wilson

Complaint: [redacted] I am rejecting this response because:Im not a credit expert, tell me when it will be off my credit, and why its still there?are you saying that because something was updated in 2015, its going to be there for another from that date? Sincerely, [redacted]

We received a cheque in the mail to pay out your account on 07/22/2016, which is the same day that your regular payment ran through your bank account via pre-authorized paymentWe were not notified in advance that your loan was being paid off and that we should be expecting a payout cheque in the mail, which is why your regular payment ran on your due dateUnfortunately we require a minimum of business days notice to stop a pre-authorized payment so it was not possible for us to stop the payment as it had already ran through your account on the same day that the payout cheque was received in the mailNo refund is owed as the payment withdrawn on 07/22/did not actually clear your accountThe payment was returned as NSF so you did not have the funds available in your bank account to cover the paymentAs a courtesy we have waived the NSF fee on our end and your account is paid in full based on clearance of all past payments

Christopher, Thank you for your inquiry in regards to your credit bureau reportingI have reviewed your account and the account is correctly reportingAll Credit Bureau reporting goes from the date of last activity, which in your case was in which is only two years agoAll accounts will remain on your credit bureau for at least years from the date of last account activityShould you require a payment ledger outlining all account activity, feel free to contact customer service at 1-888-486-and we would be more than happy to provide that to you

[redacted] , We have confirmed that your CARFINCO account is reporting correctly (payments over days late, payments over days late and payments over days late) to both TransUnion and EquifaxAll payments are reporting and the balance is reporting correctlyYour overall credit score is assessed by the credit bureaus, and not CARFINCOWe only report the account history on your CARFINCO accountI would recommend contacting the credit bureaus to see if there are any other derogatory trade lines or other information present that is affecting your overall credit scoreUnfortunately CARFINCO is unable to approve further financing for you due to incorrect information that was submitted by you on your credit application for your existing loan

We have performed a full internal investigation into your complaint and have found the following: Your account has been past due over three months since your September 2nd regular bi-weekly payment returned as NSFAdditional regular payments have also returned NSF since then with no payments towards your past due balanceRepossession was ordered in full compliance with your legally binding contract due to defaulted paymentsAt no time in your correspondence with us in the previous months was there any reference to new bank information and if that was the case you were given ample opportunity to bring your account current by making your past due paymentsIn addition we attempted to contact you daily and when we did successfully contact you for arrangements on your past due balance none of these arrangements were honoured by youOn 12/06/you spoke with our repossession department and were advised that a bailiff was already hired however we would accept a small portion of your past due balance in order to hold the bailiff, and then work with you towards making up your remaining past due amountYou stated that the payment would be made at 4:30PM via Western Union Quick Collect and were clearly advised that until that partial payment was made your account was still out for repossession and subject to being seized if the bailiff attended before your payment was madeYou did not make your payment at 4:30PM and the bailiff repossessed the vehicle Remedies for default, including repossession are clearly outlined in your contract as a result of you failing to meet your contractual obligations to CARFINCOAny fees or costs associated with the repossession are your responsibilityShould you wish to discuss your account further, please contact our repossession department at 1- [redacted]

Initial Business Response / [redacted] (1000, 5, 2015/08/10) */ I apologize for the inconvenience that you are experiencing In regards to the pre-authorized payment withdrawn on 04/30/2015, it was returned to us marked 'NSF' by your bankWe have not received any contact from your bank to rectify the issue, however we have confirmed with our banking provider that they have in fact traced the payment on their end and the funds were not remitted by your bank; and were sent a notification that the payment was 'NSF' The bank statements provided also show inconsistencies as the remaining balance in your account as of May 4th, does not correspond to the actual amounts withdrawn since our payment on April 30th I apologize but at this point we have made all reasonable efforts to trace the payment and ensure the error is not on our end and are confident the payment was not received by CARFINCOShould your bank require a copy of the NSF notification that they provided us to assist further in a trace on their end, they can certainly contact us to obtain it Initial Consumer Rebuttal / [redacted] (3000, 7, 2015/08/11) */ (The consumer indicated he/she DID NOT accept the response from the business.) My bank has made contact with youMultiple times on my behalfThey have sent statements as well as myself sending themAs you can see from my past payments none have been missed and when I knew the one time that I was not able to make the payment I called and made arrangements to defer the payment to the end of the contractSo why you would think I am trying to skip out on a payment is crazy Final Business Response / [redacted] (4000, 9, 2015/08/12) */ As stated before we have received no contact from your bank in regards to this issueAt this point, because they have not contacted us please provide a contact name and telephone number of an Agent at your bank familiar with his issue so our accounting department can further discuss with themYour bank sent CARFINCO a notification of NSF and did not remit the funds to CARFINCO, so to resolve this they will have to forward the funds to us so it can be posted to your account

I have forward you bank statement showing payments *** *** *** * *** *** *** *** *** *** *** ** ***I also forwarded you email showing I was trying to work with the company once I finally got them to answer their phonesI must have called them at least times yesterdayAlso they are claiming I said I would make payment at when the emails all clearly state I couldn't until 4:I was leaving work early at just to make sure I had time to call in with payment when my car was repoedI asked the baliff and called carfinco saying I was on way and asked them to wait min for paymentInstead they blocked me in *** *** *** *** *** *** *** ** *** *** ** *** ** *** *** *** *** ** *** *** *** *** *** *** *** *** ** *** * *** ** *** *** *** *** ** *** *** *** *** *** *** *** *** ** *** *** *** * ***

Christopher, Thank you for your inquiry in regards to your credit bureau reportingA confirmation has been forwarded to both *** and *** to ensure the correct balance is reporting*** will continue to report a trade line for up to years from the date of last activity on the account which was in *** will report for years from the date of first default, which was in October Should you have any further questions or concerns, please contact us at 1-888-486-

***, All applications received by CARFINCO when you are applying for a loan are signed by youBy signing your credit application you are confirming that the information is correct and trueor derogatory information provided by you on a credit application at any time can result in you no longer being eligible for financingIn regards to the credit bureau reporting, again we have confirmed that your CARFINCO account is reporting correctlyYour credit score is based on all information on your credit bureau, not just your CARFINCO accountYour loan was opened and your first payment was due in July of so we would not be reporting a year of good payments, as the loan has not been active for a year yet

Complaint: ***
I am rejecting this response because:I called in stating I wished to cancel before the paperwork had even been processed I took the vehicle back to the dealership to get the deal unwound as instructed There is a clause in this contract saying that in the first week I can cancel for any reason at all And I cancelled before the paperwork was even processed There was to be a follow up regarding the cancellation that never happened When I arrived at the dealership to return the vehicle they looked completely surprised and told me they had heard nothing of this
Sincerely,
*** ***

Initial Business Response /* (1000, 5, 2016/04/06) */
***,
All terms of your loan are disclosed to you in writing on your signed contract, to ensure there is no confusion or discrepanciesAs with any legally binding document this should be read and understood by yourself prior to signingBy
signing the contract you are declaring that you understand and agree with all terms contained therein
In regards to your desired resolution, because there have been no payments received on your account and your loan was opened in February, we unfortunately cannot extend the repossession or shutdown timeline any further until April 27thOnce the vehicle is seized you are provided days to redeem the vehicle before it is sold by making your full past due amount as well as any fees associated with the repossessionOnce the vehicle is repossessed and the bailiff invoice is received by us you can contact our repossession department to obtain the full amount required to redeem the vehicleIn regards to CARFINCO promising re-financing after months, CARFINCO does not guarantee any future approvalsAll loan applications are approved based on numerous factors including your Credit Bureau and past payment performance at the time of your application
Initial Consumer Rebuttal /* (3000, 7, 2016/04/07) */
I have read the response of Carfinco,how ever I have explained in my complaint that I was not given the real explanation
the sale girl or agent about what I am signing.I was not given enough time to read the documents she was making me sign
I was so excited to have the car because it was my first time to have a car loan on my own.I am not going to pay an interest that is half the
financed amount of $10,000.the price financed was $10,
Carfinco representative told me that I have to pay this interest of $if the car is sold in Auction,I am still responsible for this
payment.I think this is not right.This interest they area asking me is my obligation according to Carfinco.I want to explain that they
have the Car and I should no longer be obliged to pay this $interest
***

***, I apologize if you have been provided any incorrect information in regards to your past due amount and will certainly look into that on our endI do not show any arrangements on your account for over
$Your current past due balance is $based on your regular payment that ran yesterday clearing your bank accountIf this payment does not clear, or any future regular payments, that will affect your past due balance which may be where the discrepancy has been coming fromIn addition we received a notice of cancellation from your insurance company dated back to November of so we also require proof that the vehicle is covered with full coverage and CARFINCO listed as a lienholder to get your account back into good standing. In regards to your interest payments we only finance vehicles for personal use and the loan is not eligible for input tax creditsShould you wish to know the amount of interest that you have paid, every payment you have made including the interest and principle posting is on the ledger that you receivedShould you require another copy of this and to arrange payment on your past due balance, please contact us at 1-888-486-Should you wish to speak to a supervisor at any time feel free to request this any time you contact us

Jon,      In this email you were advised to make the current past due balance on [redacted] and we deferred a past due payment as well. Because a payment was deferred, the account was not eligible for a permanent due date change as these cannot be processed back to back. We require a payment in between which is why you were advised to hold the payment that was then due on [redacted] Unfortunately you did not make a payment on [redacted] as you were advised so your account again went into a past due status which means that we could not have processed the permanent change. Had the payment been made on [redacted] as [redacted] advised you, we could have processed the permanent change at that point.

[redacted],                We have confirmed that your CARFINCO account is reporting correctly (0 payments over 30 days late, 0 payments over 60 days late and 0 payments over 90 days late) to both TransUnion and Equifax. All...

payments are reporting and the balance is reporting correctly. Your overall credit score is assessed by the credit bureaus, and not CARFINCO. We only report the account history on your CARFINCO account. I would recommend contacting the credit bureaus to see if there are any other derogatory trade lines or other information present that is affecting your overall credit score. Unfortunately CARFINCO is unable to approve further financing for you due to incorrect information that was submitted by you on your credit application for your existing loan.

Your account was past regular repossession guidelines based on your past due status on 08/16/2016 when you spoke to our customer service department. You stated that you had already traded in the vehicle at [redacted] and the person you were dealing with was named [redacted]. You...

stated that a payout cheque had been mailed to us on 08/15/2016. When asked if you knew how the cheque was sent to us you stated that you would confirm with the dealership if the cheque was sent via regular mail or by courier, and if the cheque was sent via regular mail you would make a payment so the vehicle was not repossessed before the payout cheque arrived in the mail. When we attempted to confirm this information with [redacted] which you provided they confirmed this was not accurate information and that they had not mailed a payout cheque, nor was any deal done. At that point your account was sent out for repossession in accordance with your contract as we were providing you until 08/19/2016 as a courtesy based on your account being paid in full by [redacted].You then contacted our repossession department on 08/17/2016 stating that you were now trading the vehicle in with [redacted] and no payout cheque was mailed out as you previously advised us. You stated you were dealing with [redacted]. We spoke to [redacted] who stated that he was not taking the vehicle on trade and that he was accommodating you so you could sell the vehicle privately and there is no cheque in the mail. Due to multiple incorrect statements made by you and the status of your account we then proceeded with repossession. For further information in regards to redeeming the vehicle, please contact our repossession department at 1-[redacted], extension [redacted].

Initial Business Response /* (1000, 5, 2016/03/09) */
[redacted],
We apologize for any inconvenience caused to you. I do see that we called you once after your first request was received in April 2015. We did receive your second email request on Monday and subsequently have already removed your...

number from our customer's reference list. You should not receive any further calls from us in regards to [redacted] and again please accept my apologies that your number was not removed on your first request.
Initial Consumer Rebuttal /* (2000, 7, 2016/03/10) */
(The consumer indicated he/she ACCEPTED the response from the business.)
As long as this is true this time we are satisfied with the result.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
 I will send the correct insurance documentation within the week.  I have spoken to a worker and confirmed payment for April 21 2017 for the past due amount. 
Sincerely,
[redacted]