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Central State Credit Union

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Central State Credit Union Reviews (3)

Review: Had an account with Central State Credit Union and had a car loan with them at one time. I had since forgot I still had an open account with them until I received a threatening letter with a balence in my account of -$1.00 and the letter goes on to state: "Due to your lack of response concerning your overdrawn balance, we have closed your accounts and cancelled all services associated with your membership. Your account has been reported to ChexSystems, inc as closed with funds owed. This may adversely affect your ability to open accounts elsewhere"Desired Settlement: I addition to be contacted by Central State Credit Uniin, I want the negative balance removed, close my account explain how I had money in my account and now im left with this negative balance even though I hadnt withdrawn any money creating this negative balance to begin with. A formal apology and confirmation that my account is not in the hands of a third party collection agency.

Business

Response:

Mr. [redacted] account was not sent to collections and he was not reported to Chexsystems. The account was negative due to a low minimum balance fee. Mr. [redacted] was sent several letters requesting that he contact us concerning this matter on 7/6, 7/13, 7/20 & 7/27. The letters start automatically generating when the account is negative after 7 days. Mr. [redacted] did not contact us. We cleared the negative balance and closed the account on 7/29. We apologize if it caused Mr. [redacted] any inconvenience.

Consumer

Response:

I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.

Review: I had an auto loan with Central State Credit Union. The vehicle was totaled in November 2013. We did not make any payments for a few months because we were waiting to see how much the insurance was going to pay out. The insurance paid most, but not all of the amount owed on the loan. In April of 2014 Central State Credit Union changed the status to "Charged Off" on our credit report, but requested us to keep paying on the loan. [redacted] at Central State Credit Union promised that once the loan was paid in full they would remove it from our credit. We agreed to keep making payments until the total amount was paid off. The amount is now paid in full and Central State Credit union will not change the account status to closed paid in full. I feel like they were stringing me along just to get the amount paid off. I agree I owed the money even though my car was totaled, but I don't feel like a "Charged Off" status is acceptable since I paid them in full.Desired Settlement: I would like my credit report corrected to "Closed Paid in Full" with a zero balance.

Business

Response:

As Mr. [redacted] stated the vehicle was a total loss and there was a deficiency balance of $2,081.10. The deficiency balance was charged-off 4/21/14. The loan was paid off 12/22/2015; in turn reporting it as follows: account paid in full, was a charge-off, which was agreed on 4/24/14, through the "Agreement to Settle Loan Account" signed by the [redacted]s. This will be reported to the credit bureau as of Feb 2016: Account paid in full, was a charge-off. We have communicated with Mr. [redacted] and he is aware of the changes that will take place at the beginning of Feb 2016.

Business

Response:

As Mr. [redacted] stated the vehicle was a total loss and there was a deficiency balance of $2,081.10. The deficiency balance was charged-off 4/21/14. The loan was paid off 12/22/2015; in turn reporting it as follows: account paid in full, was a charge-off, which was agreed on 4/24/14, through the "Agreement to Settle Loan Account" signed by the [redacted]s. This will be reported to the credit bureau as of Feb 2016: Account paid in full, was a charge-off. We have communicated with Mr. [redacted] and he is aware of the changes that will take place at the beginning of Feb 2016.

Consumer

Response:

I am rejecting this response because: I don't think this should of ever been a Charge Off. The agreement they are referring to was signed by me and my wife because they told us we had to sign it since my vehicle was totaled and they no longer had collateral. I made all payments as they requested. I never told them or ever gave them any indication that I was not going to pay them in full. They are now paid in full 2 years prior to the loan completion date. I think it was fraudulent on there part to push me into the charge off status. I don't know how the loan process works and I was just doing what they told me to do to stay on good standings. So I thought I was going to be in good standings. If the insurance company paid them the entire balance of the principal and I completed the interest payments over the last 20 months how is it fair to me as a customer to have a Charge Off on my credit score?

Consumer

Response:

I am rejecting this response because: I don't think this should of ever been a Charge Off. The agreement they are referring to was signed by me and my wife because they told us we had to sign it since my vehicle was totaled and they no longer had collateral. I made all payments as they requested. I never told them or ever gave them any indication that I was not going to pay them in full. They are now paid in full 2 years prior to the loan completion date. I think it was fraudulent on there part to push me into the charge off status. I don't know how the loan process works and I was just doing what they told me to do to stay on good standings. So I thought I was going to be in good standings. If the insurance company paid them the entire balance of the principal and I completed the interest payments over the last 20 months how is it fair to me as a customer to have a Charge Off on my credit score?

Business

Response:

The insurance company paid the total loss settlement on 12/6/2013 of $10,519.98; the deficiency balance left was $2,081.10. Members spoke to our insurance department and they were advised of the deficiency balance and that there was no GAP (Guaranteed Auto Protection) purchased to pay the remaining balance. Members were also advised that the next payment would be due 12/15/13, after the insurance settlement check was applied. There were no payments made to the deficiency balance until 04/23/2014. With no contact made or payments (in 5 months) and the account being a deficiency; it is credit union policy to charge-off the balance, which was charged-off on 04/21/14. An "Agreement to Settle Loan Account" was issued 04/24/2014, but not signed and returned by the members until 09/25/14. The agreement clearly states the following: "upon execution of this Agreement by Members and successful collection of the Settlement Amount by Credit Union from Members, Credit Union will consider the Loan [Account paid in full, was a charge-off] and report it as such to the relevant credit reporting agencies." This agreement was signed by the members and the credit union.

Business

Response:

The insurance company paid the total loss settlement on 12/6/2013 of $10,519.98; the deficiency balance left was $2,081.10. Members spoke to our insurance department and they were advised of the deficiency balance and that there was no GAP (Guaranteed Auto Protection) purchased to pay the remaining balance. Members were also advised that the next payment would be due 12/15/13, after the insurance settlement check was applied. There were no payments made to the deficiency balance until 04/23/2014. With no contact made or payments (in 5 months) and the account being a deficiency; it is credit union policy to charge-off the balance, which was charged-off on 04/21/14. An "Agreement to Settle Loan Account" was issued 04/24/2014, but not signed and returned by the members until 09/25/14. The agreement clearly states the following: "upon execution of this Agreement by Members and successful collection of the Settlement Amount by Credit Union from Members, Credit Union will consider the Loan [Account paid in full, was a charge-off] and report it as such to the relevant credit reporting agencies." This agreement was signed by the members and the credit union.

Consumer

Response:

I am rejecting this response because: I was notified the settlement was paid in December 2013 and I was asked to make payment arrangements in January 2014. I started making these payments in April 2014. My worst case should be 90 days late. I don't understand how this account can be legally charged off. I never said I wasn't going to make payments. Every time the lender called me I said I would make payments and I started making those payments April 2014 and they are now payed in full. I accept the fact that I made late payments, but I do not accept this as a "charged off" account. How is it legal to consider this account as a charge off? How is it legal for them to change the account status to "Charge Off" when they were still calling me every month from there collection department, from January 2014 to January 2016, asking me for a payment?

Consumer

Response:

I am rejecting this response because: I was notified the settlement was paid in December 2013 and I was asked to make payment arrangements in January 2014. I started making these payments in April 2014. My worst case should be 90 days late. I don't understand how this account can be legally charged off. I never said I wasn't going to make payments. Every time the lender called me I said I would make payments and I started making those payments April 2014 and they are now payed in full. I accept the fact that I made late payments, but I do not accept this as a "charged off" account. How is it legal to consider this account as a charge off? How is it legal for them to change the account status to "Charge Off" when they were still calling me every month from there collection department, from January 2014 to January 2016, asking me for a payment?

Review: They are not honoring their on-time bill-pay system.

They advertise "on-time payment guarantee." They say they will reimburse you up to $50 per payment for any late payment fees or penalties you are charged as a result of the Payee/Biller not receiving a payment. I have a payment that has not been payed since 05-13. They do not check to see and verify as to whether the payment received or not. All liability is laid on the customer to monitor payments. This is the second time I have had this happen within a year. Their business advertising does not match there practice. This causes credit issues and scores to fall.Desired Settlement: They should be penalized due to the anguish they cause their customers due to time and effort the customer has to send doing something that they guarantee.

Business

Response:

Business' Initial Response

The Credit Union makes every effort to ensure that our Bill Pay service is paying our member's scheduled payments on or before the date scheduled by the member. We apologize for the inconvenience caused to you in this particular instance. Our Bill Pay vendor has assured us that they have investigated and have reissued the check to your biller. It is important to note that neither the Credit Union nor its Bill Payment vendor can legally monitor your personal accounts to ensure that your scheduled payments have been properly posted by your billers. We can only notify you when a payment has been sent by us, or rejected by your biller. Central State Credit Union stands by its guarantee that payments scheduled in accordance with the terms and conditions of our Bill Payment Agreement are covered by a reimbursement of up to $50.00 for late fees or penalties, and we encourage you to contact us directly so that we can assist you in resolving that issue.

Consumer's Final Response

(The consumer indicated he/she DID NOT accept the response from the business.)

You simply cannot make a guarantee of payment if you have no idea if payment was received and credited. I feel this guarantee gives a false since of security and is misleading.

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Description: Credit Unions

Address: 919 N Center St, Stockton, California, United States, 95202

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