Carmel Financial Corporation, Inc.

Dear *** *** - Carmel Financial will work with Mr***' mortgage lender so that he may refinance his mortgage at a lower rate. We will execute documents to accomplish this provided that the position of our UCC-Fixture Filing does not fall below a second position, subordinate only to
the first mortgage.Please contact me with any questions.Sincerely,*** ***Chief Financial Officer

Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.There is a seven year reporting period which has lapsed on this account and should no longer report on the credit bureauOn top of that, this account is listed as charged off on the credit report which means they can no longer allow the account to continue to accumulate interest when it has already been written offThe balance on my credit report is severely inaccurate, along with the statutory timeline for credit reportingThis account MUST be removed from the credit report.According to the Truth in Lending act, a creditor MUST STOP charging interest once an account is charged off, it is in violation of continuing to charge interest unless a statement is sent to the customer each month showing the interestI have not received ANY monthly statements from this account after the charge offContinuing to charge interest would mean having to send monthly statements to cardholders, under the U.STruth in Lending ActRegards,*** ***

Dear *** *** -In Ms*** complaint, she is correct in that the collection statute of limitations in four years. This particular statute provides a time limit for a creditor to sue a debtor to collect a debt. However, the collection statute of limitations is different from
the reporting statute. The reporting of consumer credit is governed by federal law. The statute for reporting debt that has been charged off is seven years from the date of delinquency. With regard to the balance, interest is being added to the account at the contract rate of interest. If Ms*** makes a series of payments, we have programs available that reduce the interest rate.Sincerely,Joe H***CFO

Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.Per the request of Carmel Financial, please find below the regulations that state if I am going to be charged interest on a charged off account I must received a periodic monthly statement of those charges which I have not received any statement in YEARS in regards to this accountAll interest MUST be removed from this account and stop reporting monthly.(2) Periodic statements(i) Statement requiredThe creditor shall mail or deliver a periodic statement as required by ? for each billing cycle at the end of which an account has a debit or credit balance of more than $or on which a finance charge has been imposedA periodic statement need not be sent for an account if the creditor deems it uncollectible, if delinquency collection proceedings have been instituted, if the creditor has charged off the account in accordance with loan-loss provisions and will not charge any additional fees or interest on the account, or if furnishing the statement would violate federal lawSection 226.5(b)(2) of the Federal Reserve's RegulationImmediate action must take place since this account is fraudulently reporting.https://www.fdic.gov/regulations/laws/rules/6500-1360.html#fdic6500226...⇄ ***

Dear *** *** - We investigated Mr***'s complaint regarding reporting his obligation to the credit bureaus. During this review, it was noted that the obligation signed by Mr*** was dated January 6, 2008, which is still within the seven year reporting period.However, we will
still honor Mr***s request and delete this account from all three credit bureaus. If you need any other information, please contact me.Sincerely,*** ***

Carmel Financial is a respected leader in the finance industry. We will immediately send this valued customer a copy of the contract and pay history so that the consumer may see how all payments have been applied, to arrive at his current balance.

Dear [redacted] - Given the circumstances described by Ms. [redacted], we will remove her from the account and delete any associated reporting to the credit bureau.Best regards,Joe [redacted]CFO

Carmel Financial will agree to remove the above customers Carmel Financial Corporation trade line

Carmel Financial will cancel the contract, and delete the Carmel Financial Corporation tradeline. This process may take up to 30 days to complete.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. 
Regards,
[redacted]

Carmel Financial Corporation has no obligation to subordinate. With that being said, Carmel Financial Corporation did do an exception Subordination on Mr. [redacted] previously as customer advised, but was clear with customer that it was an exception that was being done. Carmel Financial had understood...

at that time that the reason for doing so was to assist the customer with his monthly expenses. At this time Carmel Financial will not approve a 2nd subordination.

Dear [redacted] - We will work with Ms.[redacted] to subordinate our UCC-1 such that we remain in no less than a second position with respect to this property.Sincerely,Joe [redacted]CFO

I have asked carmel financial to remove the negative information they continue to report to my credit files numerous times. They have stated that the information would be removed in June in writing with the CFP. It is now 8/3/15 and my credit report is still reporting this account.  I want my report corrected. I have asked numerous times. You have stated in writing that this would be done, and it has not. I have given you ample time to rectify this situation. Any further delay will resort in my taking legal action against you for punitive damages resulting in my inability to secure credit lines because of your incorrect credit reporting.Regards,[redacted]

Revdex.com:I have reviewed the response made by the business in reference to complaint ID[redacted], and have determined that the response would 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 find that this resolution would be satisfactory to me. 
Regards,
[redacted]

Dear[redacted] - in consideration of the work and effort that we have asked Ms. [redacted] to perform, we will no longer report this charged off account to the credit bureaus and take steps to remove the account from the credit bureau's reporting.  The removal process is not instantaneous and may take up to 90 days.  We will take the necessary steps to remove the account by sending the appropriate forms to the credit bureaus by the end of this week.Best regards,Joe [redacted] CFO?

Carmel Financial strives to be a leader in the finance industry. We do all we can to present all options available to a consumer whom we have had a relationship with. With this said, the consumer has advised that they want no further contact on behalf of Carmel Financial Corporation, and in turn...

will not receive any further contact.

Dear [redacted] - We have been working with Mr. [redacted] and his title company to close a new mortgage loan.  We have consented to take no less than a second position with our UCC-1 Fixture Filing.  If you have any questions, please contact me.Joe [redacted]CFO

Dear [redacted]-We have reviewed Mr[redacted] account and the associated credit bureau reporting.  The account is reporting correctly.  The account status will be reported for 7 years from the date of first delinquency under the Fair Credit Reporting Act (FCRA).  The high credit and...

credit limit reflect the maximum amount of credit utilized on the account and the highest amount that could have been used when the account was open, respectively.  Since the account has been paid, the balance is properly reflected as a $0 balance.  All of these factors conform to the FCRA.Please contact me with any questions.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that the response would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.This has been closed and charged off, yet balance owed keeps increasing.
Regards,
[redacted]