Cars Financial Reply My name is [redacted] and I am the General Manager at Cars Financial, I have reviewed the account notes and the phone calls in question Our response is as follows: Mr [redacted] took out a loan for a Saturn Ion on November 24, which was equipped with a starter interrupt device to secure payment He made his first bi-weekly installment on December 18th and his next payment came due on January 2nd but was not paid On January 5th he called Cars Financial to say that while his company was shut down for the Christmas holiday he did not get paid and would not be able to pay again until he got his next check on January 15th His Account Manager told him that on a new loan we do not typically grant extensions but that if he would make an activity payment of $toward the past-due amount before it became days past-due that we would give him an extension to prevent the disable of his vehicle and allow him to make up the difference with his next payment to which he seemed agreeable No activity payment was made toward the loan and on January 10th he used the “emergency code” that all customers are provided with to start their vehicle one time each payment cycle for a period of 24-hours if it is disabled The code ran out after 24-hours and on the morning of January 12th he called our office asking us to turn the vehicle on for him The same Account Manager reminded him of their prior conversation and that she would still need an activity payment in order to provide an extension on the device He did tell her that he had no money to pay and would lose his job and she offered suggestions such is borrowing money from a family member to make an activity payment At no point in either conversation did she laugh at him He ended the call by saying he’d just “stay at home today” and hung up The following day Mr [redacted] contacted our Business Development Center via internet to make a complaint regarding the disable of his vehicle His Account Manager tried to call him and email him on several occasions to discuss this matter, he never returned the phone calls or responded to our email As of January 28th this account aged to days past-due and I sent our road agents out for a visit to his home They went to do the door but no one answered The agents called me regarding the situation and I instructed them to repossess the vehicle Mr [redacted] has been sent a letter providing him with his 10-day right to redeem If before his days expire he will bring his account to a current status (including the costs of repossession) we will allow him to redeem the vehicle and continue on in his loan with us Regarding the brake issue, we will be glad to have our service department take a look at the vehicle to see if the brakes need to be replaced and discuss this with him I would like for Mr [redacted] to call me to discuss this further I feel that we can come to a reasonable agreement that works both for us and for him I can be reached at ###-###-#### [redacted] General Manager Cars Financial ###-###-#### x- [redacted] ###-###-#### fax
Cars Financial’s process is to report credit information to Equifax and Transunion on the last day of every month reflecting the customer’s account status as of that date We do this by uploading a report generated by our software provider that meets all compliance requirements of Equifax and Transunion We have researched our submission file that was uploaded on February 28th and the information that is reflected in this file shows that Mr [redacted] loan was paid in full as agreed with the correct monthly payment amount In the complaint issued by Mr [redacted] the date in which the problem occurred is stated as February 23rd, On this date his credit report would have shown that Cars Financial had not updated his credit file since January as (stated earlier) we only report once a month on the last day of the month and it is our understanding that submission files could take up to days to reflect on a customer’s credit file We received a call from Mr [redacted] with concerns of the reporting on his credit file on April 14th In accordance with credit compliance regulations we submitted a manual update to be made to his credit report via eOscar on April 18th, in order to address his concern It is our understanding that once a manual submission has been made it can take up to days to reflect on the customer’s credit report as well, although the information if reviewed on or after March 31st should have reflected the information from our submission file, Mr [redacted] credit report should now be showing that he has paid his loan in full as agreed We feel that we have followed all processes to ensure that Mr [redacted] credit report reflects timely and accurate information and therefore his issue should be resolved We would encourage Mr [redacted] to verity this information and provide feedback.Warm Regards, [redacted] ***
Cars Financial Reply My name is [redacted] and I am the General Manager at Cars Financial, I have reviewed the account notes and the phone calls in question Our response is as follows: Mr [redacted] took out a loan for a Saturn Ion on November 24, which was equipped with a starter interrupt device to secure payment He made his first bi-weekly installment on December 18th and his next payment came due on January 2nd but was not paid On January 5th he called Cars Financial to say that while his company was shut down for the Christmas holiday he did not get paid and would not be able to pay again until he got his next check on January 15th His Account Manager told him that on a new loan we do not typically grant extensions but that if he would make an activity payment of $toward the past-due amount before it became days past-due that we would give him an extension to prevent the disable of his vehicle and allow him to make up the difference with his next payment to which he seemed agreeable No activity payment was made toward the loan and on January 10th he used the “emergency code” that all customers are provided with to start their vehicle one time each payment cycle for a period of 24-hours if it is disabled The code ran out after 24-hours and on the morning of January 12th he called our office asking us to turn the vehicle on for him The same Account Manager reminded him of their prior conversation and that she would still need an activity payment in order to provide an extension on the device He did tell her that he had no money to pay and would lose his job and she offered suggestions such is borrowing money from a family member to make an activity payment At no point in either conversation did she laugh at him He ended the call by saying he’d just “stay at home today” and hung up The following day Mr [redacted] contacted our Business Development Center via internet to make a complaint regarding the disable of his vehicle His Account Manager tried to call him and email him on several occasions to discuss this matter, he never returned the phone calls or responded to our email As of January 28th this account aged to days past-due and I sent our road agents out for a visit to his home They went to do the door but no one answered The agents called me regarding the situation and I instructed them to repossess the vehicle Mr [redacted] has been sent a letter providing him with his 10-day right to redeem If before his days expire he will bring his account to a current status (including the costs of repossession) we will allow him to redeem the vehicle and continue on in his loan with us Regarding the brake issue, we will be glad to have our service department take a look at the vehicle to see if the brakes need to be replaced and discuss this with him I would like for Mr [redacted] to call me to discuss this further I feel that we can come to a reasonable agreement that works both for us and for him I can be reached at ###-###-#### [redacted] General Manager Cars Financial ###-###-#### x- [redacted] ###-###-#### fax
Cars Financial’s process is to report credit information to Equifax and Transunion on the last day of every month reflecting the customer’s account status as of that date We do this by uploading a report generated by our software provider that meets all compliance requirements of Equifax and Transunion We have researched our submission file that was uploaded on February 28th and the information that is reflected in this file shows that Mr [redacted] loan was paid in full as agreed with the correct monthly payment amount In the complaint issued by Mr [redacted] the date in which the problem occurred is stated as February 23rd, On this date his credit report would have shown that Cars Financial had not updated his credit file since January as (stated earlier) we only report once a month on the last day of the month and it is our understanding that submission files could take up to days to reflect on a customer’s credit file We received a call from Mr [redacted] with concerns of the reporting on his credit file on April 14th In accordance with credit compliance regulations we submitted a manual update to be made to his credit report via eOscar on April 18th, in order to address his concern It is our understanding that once a manual submission has been made it can take up to days to reflect on the customer’s credit report as well, although the information if reviewed on or after March 31st should have reflected the information from our submission file, Mr [redacted] credit report should now be showing that he has paid his loan in full as agreed We feel that we have followed all processes to ensure that Mr [redacted] credit report reflects timely and accurate information and therefore his issue should be resolved We would encourage Mr [redacted] to verity this information and provide feedback.Warm Regards, [redacted] ***