Carfinco

Complaint: [redacted]
I am rejecting this response because:The incorrect information that was submitted was done by the dealership I purchased my vehicle at. I did not submit any false information. When I realized what the dealership did I called carfinco and cleared it up myself and provided them with the correct information. At that point they had blacklisted me  and I had that Blacklist removed since I was not at fault.  As of right now they have blacklisted me for no good reason again. It is unethical to make me suffer because the dealership I got my vehicle from decided to commit fraudulent activity.  Sincerely,
[redacted]

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

Jon,      Unfortunately we are unable to process a permanent due date change while your account is in arrears. Because your account has been past due since the first payment on your contract returned as NSF we have been unable to process any changes as your account...

has been past due. Once your account is brought current you can certainly request a permanent change to your due date. In regards to the paperwork, if the dealership did not provide you with a copy at the time of signing, please contact us at 1-888-486-4356 and we can provide you with a copy.

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 payment. We 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 normal due date. Unfortunately we require a minimum of 3 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 mail. No refund is owed as the payment withdrawn on 07/22/2016 did not actually clear your account. The payment was returned as NSF so you did not have the funds available in your bank account to cover the payment. As 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.

Initial Business Response /* (1000, 5, 2016/02/11) */
Your vehicle was disabled in accordance with your contract due to your defaulted January payment and notification from your insurance company that your coverage was cancelled. This was received in September 2015 and we did not receive an updated...

policy or reinstatement notice.
When you contacted us to make arrangements your vehicle was already disabled. As we explained to you over the phone once your vehicle is shutdown we require an arrangement and proof of valid insurance in order to enable it. We then issued a temporary 24 hour emergency code that enabled your vehicle until you could send proof of valid insurance coverage and also issued a second one to you as a courtesy as your insurance still was not received before the first code expired. It has now been received so to avoid the vehicle being disabled ensure that your payment is made tomorrow as agreed.
We have already advised that if your account is brought current tomorrow as agreed we will waive the default fee again as a courtesy. To avoid future shutdowns ensure that you provide an updated policy or re-instatement anytime your insurance company cancels your policy and ensure that your payments are clearing on their due date. Your interest rate has already been lowered from your original contract amount and unfortunately cannot be lowered further.
Initial Consumer Rebuttal /* (3000, 7, 2016/02/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
[redacted]
I made called and made payment arrangements.
I made the a payment of 400 towards the 500
I spoke with my insurance company and they said they did not cancel my insurance.
I sent an email with proof of insurance and my insurance company did the same and I have an email to give proof of both

[redacted]

[redacted]

[redacted].
[redacted]

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 NSF. Additional regular payments have also returned NSF since then with no payments...

towards your past due balance. Repossession was ordered in full compliance with your legally binding contract due to defaulted payments. At no time in your correspondence with us in the previous 3 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 payments. In 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 you. On 12/06/2016 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 amount. You 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 made. You 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 CARFINCO. Any fees or costs associated with the repossession are your responsibility. Should you wish to discuss your account further, please contact our repossession department at 1-[redacted].

Initial Business Response /* (1000, 5, 2015/10/13) */
Contact Name and Title: David - Supervisor
Contact Phone: XXX-XXX-XXXX ex [redacted]
Contact Email: [redacted]@carfinco.com
[redacted],
Please accept our apologies for any inconvenience caused to you. Upon initial investigation we do see two calls...

made to you by an agent in our skip trace department last week. Your description of these calls certainly does not comply with the level of customer service that is required of our Agents. I have escalated this to the Agents manager and internally we will be looking into this further. I will ensure that no further calls are made to you and again, please accept our apologies. I have included my contact information in this reply; should you have any further questions or concerns, please feel free to contact me directly.

We have reviewed your file and have sent an update to the credit bureaus to reflect a 0 balance. It has been processed on our end; however the credit bureaus may take 1-2 weeks to process the update on their end.

[redacted],
                I apologize that the vehicle you purchased at the dealership did not suit your needs. Unfortunately you did sign a contract, took possession of the vehicle and remitted payments on your loan...

before it fell into a default status and was subsequently repossessed; again as per your signed contract. By signing the contract you are authorizing CARFINCO to pay the dealership for your vehicle and have entered into a loan for the vehicle purchase. Any agreement for the dealership to return the funds paid to them is between yourself and the dealer and that did not occur in your case.
 
                There is no penalty for paying the loan early; however the loan accrues interest, just as any loan would from the time that it is opened until the time that it is paid in full.

Initial Business Response /* (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 bank. We 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, 2015 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 CARFINCO. Should 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 /* (3000, 7, 2015/08/11) */
(The consumer indicated he/she DID NOT accept the response from the business.)
My bank has made contact with you. Multiple times on my behalf. They have sent statements as well as myself sending them. As 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 contract. So why you would think I am trying to skip out on a payment is crazy.
Final Business Response /* (4000, 9, 2015/08/12) */
As stated before we have received no contact from your bank in regards to this issue. At 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 them. Your 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.

Christopher,      Thank you for your inquiry in regards to your credit bureau reporting. I have reviewed your account and the account is correctly reporting. All Credit Bureau reporting goes from the date of last activity, which in your case was in 2015 which is only two...

years ago. All accounts will remain on your credit bureau for at least 7 years from the date of last account activity. Should you require a payment ledger outlining all account activity, feel free to contact customer service at 1-888-486-4356 and we would be more than happy to provide that to you.

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 6 from that date?
Sincerely,
[redacted]

Initial Business Response /* (1000, 5, 2016/05/20) */
Your original contract term is based on all payments being made on their original due date with no defaults, deferrals, due date changes or other amendments to your loan. Over the term of your loan there were three payment deferrals and twelve...

NSF or late payments; all of which will accrue additional interest on the loan as stated in your contract.

To date you have made one extra payment above your original term, with just over one payment remaining on your balance. Not the six extra payments you allege in your complaint.

Should you require an account ledger to verify your account balance and payment history, please contact our Customer Service department at 1-888-486-4356 and a Customer Service Agent would be more than happy to provide this for you.

Initial Business Response /* (1000, 5, 2016/01/13) */
[redacted],
I apologize that you feel you have been mistreated. Upon reviewing your account the vehicle was seized in accordance with your contract due to non-payment. The last regular payment received on your account was in October of 2015. We then...

deferred your November payment to the end of your term and also held your December payment due on the 22nd to the end of the month to try and help you keep your account in good standing. Unfortunately your payment was not received on December 31st as you had agreed which subsequently resulted in the shutdown of the vehicle. You were then advised that unless an arrangement to make your past due payment was made, the account would be subject to further action as outlined in your contract. You stated numerous times that you would not be paying unless we kept the vehicle enabled for an additional week.
In regards to the Starter Interrupt Device installed in the vehicle, as per your signed agreement with CARFINCO you acknowledged and agreed that the vehicle will be subject to being disabled in the case of any contract default, including non-payment.
Your partial payment arrangements were not refused. You were advised by the manager of the repossession department that if you did make a partial payment towards your past due amount that we would hold the bailiff to avoid repossession and work with you to pay the remainder, but the vehicle would remain disabled until your account was completely current. You failed to make any payments after that.
Unfortunately we cannot remove the account from your credit bureau. Anything attached to the vehicle when it was seized will not be returned to you as it legally forms part of the seized asset. Should you require any personal items please contact us and we can arrange for you to pick them up from the auction where the vehicle is stored. The down payment cannot be returned as it was paid to the dealership and not CARFINCO. The remainder of the vehicle purchase price after your down payment was applied was financed by CARFINCO. Should you wish to cure your account, resume payments as per your contract and redeem the vehicle before its legal sale date, please contact our repossession department to make arrangements for your balance which still remains past due as well as any fees associated with the seizure of the vehicle.
Initial Consumer Rebuttal /* (3000, 7, 2016/01/14) */
(The consumer indicated he/she DID NOT accept the response from the business.)
[redacted] THEY DID NOT HELP ME. [redacted] I BEGGED FOR THE CAR TO REMAIN ENABLED SO I COULD WORK AND ABLE TO MAKE PAYMENTS AND THEY REFUSED. BEING TOLD THAT IT WOULD BE CONSIDERED LATE BY DECEMBER 31ST WOULD HAVE BEEN GREAT INFO BACK IN NOVEMBER. [redacted] I FULLY EXPLAINED MY SITUATION, NO ONE ADVISED ME THAT BY DEFERRING THE PAYMENT AND HOLDING THE OTHER TIL A LATER DATE WOULD PLACE MY ACCOUNT LATE BEFORE PAYMENT WAS EVEN PULLED FROM MY ACCOUNT. THEY LIED TO ME ABOUT WHEN IT WOULD BE DISABLED[redacted]. NO ONE CARED TO HELP ME AND I WILL NOT BE RESPONSIBLE FOR THE CAR ANY FURTHER SINCE THEY WOULD NOT HELP ME KEEP IT. I MADE ARRANGEMENTS TO THE BEST I WAS ABLE AT THE TIME AND IN ORDER TO MAKE THOSE PAYMENTS THE CAR NEEDED TO BE ENABLED, WHICH THEY REFUSED. THE 'MANAGER' ALSO TOLD ME THAT EVEN IF I MADE THE PARTIAL PAYMENTS THAT THERE WAS NO GUARANTEE THE CAR WOULDNT BE SEZED. I WAS NOT CONTACTED TO GET MY PROPERTY OFF OF THE CAR AND AM NOW IN RECEIPT OF LETTERS FROM CARFINCO DEMANDING I PAY THEM $8703 PLUS $1000 BY FEBRUARY 6. IF I DIDNT HAVE THE FULL ALMOST $500 HOW WOULD I POSSIBLE HAVE OVER $9000? THEY KEEP DEMANDING MORE AND MORE MONEY FROM ME YET WILL NOT HELP ME IN THE SLIGHTEST. MY PAYMENT WAS OFFICIALLY 7 DAYS LATE, 4 CALENDAR DAYS LATE, WHEN IT WAS SEIZED. THIS IS NOT IN MY CONTRACT AT ALL. IN FACT THERE ARE NO DATES OR TIME LINES IN MY CONTRACT, AND THAT SHOULDNT BE. [redacted] MY BANK ACCOUNT WAS FROZEN, MAKING MY PAYMENT UNABLE TO BE WITHDRAWN AND I DID MY BEST TO OFFER A SOLUTION SO I COULD KEEP MY CAR AND CARFINCO WOULD GET THEIR TOTAL $13307 PRICE TAG FROM ME OVER 3 YEARS. THEY REFUSED TO WORK WITH ME AND UNDERSTAND WHAT HAPPENED. [redacted]
MY POSITION STILL STANDS. I WANT MY MONEY BACK, MY TIRES SO I CAN SELL THEM AND THIS WHOLE THING WIPED OFF MY CREDIT REPORT.