Crest Financial Services, LLC

Ms [redacted] entered into a rental purchase agreement (copy attached) with Crest Financial via PLC Bedding (the retailer) on 3/21/On 3/29/17, we received confirmation from the retailer that the merchandise had been deliveredWe sent an automated text message that same day (time stamped 3:27pm MT) with detail on her first payment date and amount and informing her that we had received confirmation from the retailer that her merchandise had been deliveredMs [redacted] made her first scheduled weekly payment of $on 4/7/Her scheduled payments were made through 7/7/17, however the next three scheduled weekly payments were returned to us unpaid by her bankWe reached her via phone on 7/19/17, and she told us she was “not near” the credit card she needed in order to make the payments and would call us backWe did not get a call back, and made over calls to her until early NovemberThe calls either went unanswered or were answered and then immediately disconnected when we identified ourselvesWe also sent at least text messagesWe did not receive any further payments (payment history attached) on the 12-month agreementOn 11/7/17, she called us to say she hadn’t received her merchandiseWe provided her with a phone number for the retailer, and also explained we’d contact them as wellWe attempted to contact her with follow up information regarding the status of the retailer on 11/10/17, however the phone number on her account profile was disconnectedWe then attempted to contact her multiple times via the reference listed on her account profile but were unable to reach herAt this point the account was charged off and transferred to a third-party collection firm for further actionOn 2/27/18, she contacted us claiming again that her merchandise had not been delivered, and that she found the retailer had gone out of businessWe explained we had been attempting to contact her with that information and to provide her with the form to initiate a fraud claimShe was uncooperative, belligerent, used profanity, and then disconnected the callWe emailed her the fraud claim form and received email responses in return, however have not yet received the completed claim form or associated police report to document the failure of the retailer to deliver the merchandise back on 3/29/(email thread attached)At this time, we need to have the fraud claim form and police report returned to us in order to proceed with resolving this situation

If Ms [redacted] settles her account for the discounted amount of $684.19, her account will be recorded as settledHowever, we cannot control how that will appear on reports from credit reporting agenciesAs previously noted, if Ms [redacted] wishes to pay the outstanding balance of $1,plus sales tax, her account will be recorded as paid in full with a $balance.The bank statement provided to us by Ms [redacted] is attachedThe statement does not show a payment made to Crest Financial on or around 3/26/However, it does show a stop payment fee on 3/28/The merchant processor reconciliation we have on file for the returned payment on 3/26/shows that it was returned as the result of a stop payment order by the customer.Our settlement offer of $split into two payments and received by us no later than 2/19/is still available to Ms [redacted] , as is the option for her to pay the outstanding balance so her account will be recorded as paid in full

There are a few leases associated with Mr [redacted] 's account that are unfortunately delayed due to circumstances beyond our controlWe've been in contact with him and continue to provide updates as to the status of these leases, and will continue to do so until the situation is resolved

As explained in the lease agreement, the “down payment” is an initial payment made to Crest Financial that starts the leaseIt is kept on file and listed in the lease agreementOther cards on file were added by the customer using our online customer portal or by an agent during a phone call with the customer.Our returns policy is also explained in the lease agreement Because we offer leases, rather than loans or traditional financing, the customer is responsible for payments for each day they have had the merchandiseKeeping up on scheduled payments keeps customers very close to this daily amountAs of today (Monday, December 14, 2015), Ms [redacted] ’s unpaid costs are $***This amount will increase each day until a scheduled payment is made or the unpaid costs are paid via debit or credit cardThe customer will also need to return the merchandise by shipping it to the Crest Financial Warehouse at West South, Draper UT via insured mail.Another option available to the customer is our early buyout option which offers a discount for customers who pay off their account in one final paymentMs [redacted] ’s discount is 35% off the remaining balance on the accountMs [redacted] would need to pay $ [redacted] in one payment by December This would close the account as paid in full and the customer would be able to keep the jewelry she leased

Complaint: [redacted] I am rejecting this response because: I had recieved my equifax report as of May ^, and they said they reported it to them March 22, if thats the case It would of shown up on my equifax report May 6, Sincerely, [redacted] ***

Ms [redacted] signed a rental purchase agreement with Crest Financial on 2/13/and her merchandise was delivered on 2/18/It was the delivery date from which her 90-day buyout deadline is calculated, making the date it expires 5/19/Ms [redacted] claims to have attempted to contact us “this weekend” which we conclude was 5/or 5/based on the date of her complaint being 5/We use sophisticated customer communication technology that allows us to track calls (both inbound and outbound) by phone number as well as to review recordings of callsIn our investigation of her complaint, we didn’t find any inbound calls from either of the phone numbers listed in Ms [redacted] ’s account from 5/to 5/We spoke to Ms [redacted] three times on 5/and again on 5/in an attempt to offer an equitable solutionOn 5/24, we notified her that her 90-day buyout balance was $634.61, and she can exercise her early ownership option and own her merchandise outright by paying that amount plus $As a one-time courtesy, we also offered to reduce the additional amount to $200.00, making her buyout amount $We need to receive this amount no later than 5pm today, 5/24, which she said she would doOtherwise, Ms [redacted] can continue to make her semi-monthly payments of $until 2/11/when the lease balance of $2,is paid in full and she’ll own her merchandise at that time

Ms [redacted] seems to be misunderstanding the terms of her lease (rental purchase agreement) and is confused regarding the timeline of events, so hopefully the details in this response will helpA signed copy of her agreement is attached for referenceShe received her merchandise from the retailer on 4/21/and made her first two monthly payments of $on 5/23/and 6/28/On 7/26/16, she contacted us to say she was moving and was unable to make her paymentsWe offered her a two month hold and scheduled her next monthly payment of $for 9/28/She then was able to make that payment as well as the next three that were scheduled for 10/28/16, 11/28/16, and 12/28/Her next scheduled monthly payment of $on 1/28/was returned to us unpaid by her financial institutionShe also did not make her next two scheduled monthly payments (2/28/17, 3/28/17) of $eachWe began contacting her on 2/2/to seek payment for the overdue amount, and when we were able to speak with her she told us she was not making payments due to the merchandise being damagedWe explained that she would need to contact the retailer for repairOn 4/14/she contacted us indicating she wanted to cancel her lease because the retailer had taken the merchandise in for repair and hadn’t returned it to her yetHowever, on 4/26/17, we confirmed with the retailer that her damaged merchandise had already been exchanged on 8/19/(retailer exchange order #212-783-772)We are willing to work with her to cancel her lease, however in order to do that she must first pay the overdue amount of the four monthly payments she chose not to make (1/28/17, 2/28/17, 3/28/17, and 4/18/17), which is $(refer to section of the attached agreement)Another option we would like to bring to her attention is the Early Ownership Option (refer to section of the attached agreement), which allows her to make a single lump sum payment to own her merchandise and settle the leaseIn this one-time instance only, we will allow her to pay $by 5/25/and we will mark her account settledWe will also waive the fees associated with her four missed paymentsBecause she has asked us to cease contacting her, we cannot reach out to her to resolve thisIf she would like to take advantage of either option, she may contact us at (855) 552-and we will process whichever payment she requests

Until Mrs [redacted] contacts our fraud team to initiate an investigation, there is nothing further we can doWe have a signed rental purchase agreement in her name ( [redacted] ***) for this account, and while we recognize her assertion that it's not her account, we need more documentation in order to determine that this is fraud and report to the credit bureau accordingly

Our previous response included the answers regarding the hiccups in payment processing - the format of the expiration date was incorrect in our automated system but processed correctly when the payment was entered manually during calls with Ms [redacted] We understand her frustration, and researched this case fully before respondingWe apologize for the problem in payment processing previously, however Ms [redacted] is still past due and should contact us to make the account current

At Crest Financial, we provide families with no credit needed lease options through selected retail partnershipsCustomers select their merchandise from an independent third party retailerCrest pays the retailer for the merchandise and the customer leases the merchandise from Crest Financial over a period of months, after which they own the merchandiseBecause we offer leases rather than loans, we do not charge interestInstead, we charge a one-time lease fee at the initiation of the leaseThe terms of the lease are explained in the first page of the lease agreement, which the customer admits to signingFurther terms are explained in the rest of the lease agreementOur lease agreement is legally binding and it is a customer responsibility to read the lease agreement prior to signingWe cannot waive the lease fees outlined in the lease agreementWe do offer an early buyout for customers who buy out their lease in one final paymentThis is explained in Item 6(b) of the lease agreementIf Mr [redacted] makes one final payment of $682.50, before the next scheduled payment on May 30, 2016, the account will be closed as fullMr [redacted] would need to call our customer service team at ###-###-#### to finalize these arrangements

Complaint: [redacted] I am rejecting this response because: yes I spoke with my bank and had those charges reversed because this is not my account Sincerely, [redacted] ***

If Ms [redacted] believes her signature was forged on a legal document, she needs to contact the police and submit a police report to our fraud departmentOur fraud department will conduct an independent investigation and determine an appropriate course of actionThat process cannot be initiated without a police reportMs [redacted] can email the police report to [redacted] Our fraud team will investigate and determine a mutually agreeable course of action

Complaint: [redacted] I am rejecting this response because: Crest Financial is LYING and should be ABSOLUTELY ashamed of themselves As I have said before...LET'S GO TO COURT!!!!!! Sincerely, [redacted] ***

We appreciate Ms [redacted] ’s second lease with Crest Financial as well as her experience with our program and the terms within itBased on the claims Ms [redacted] is making, we believe she may be confused about some dates and the calculation of days from deliveryWe’d like to clarify for her benefitOn 7/5/17, she entered into the lease agreement (see attached summary page for reference) and confirmed her understanding of the lease terms in a live welcome call with one of our representativesAt this time she noted that the merchandise would be delivered to her at a later dateOn 7/12/17, the retailer electronically confirmed to us that the merchandise had been delivered and at that time we sent a message via SMS text and email to Ms [redacted] confirming delivery and that her first bi-weekly payment was scheduled for 7/28/in the amount of $On 7/19/17, Ms [redacted] called to inform us that her merchandise had not yet been deliveredWe contacted the retailer, who stated the delivery was re-scheduled for 7/22/On 8/3/17, we confirmed with the retailer that the merchandise had been delivered to Ms [redacted] on 7/22/The retailer also informed us that a chest of drawers had been replaced on 7/29/after being delivered damaged on 7/22/With a confirmed merchandise delivery date of 7/22/17, Ms [redacted] ’s 90-day buyout date was recalculated from 10/10/(based on the incorrect delivery date of 7/12/17) to 10/20/There are calendar days between 7/22/and 10/20/Ms [redacted] then made her first four scheduled bi-weekly payments, beginning on 7/28/On 9/20/17, she contacted us to move the 9/22/payment to 10/4/due to limited funds availableShe then made that payment as well as the next two scheduled bi-weekly paymentsHowever, the scheduled bi-weekly payment for 11/3/was returned to us unpaid by her bank (see attached payment history)In addition to the $for that payment, her account has also been charged a $returned payment feeThose two amounts are now overdue, and the next scheduled bi-weekly payment of $is due on 11/17/as wellMs [redacted] contacted us today (11/14/17), returning our calls regarding her overdue paymentDuring this call she asked about her 90-day buyout dateWhen she was informed it had passed on 10/20/17, she became irate and insisted the calculation of that date was incorrect because she had received her merchandise later than scheduledOur representative began explaining the dates noted above, however Ms [redacted] abruptly disconnected the callWe encourage Ms [redacted] to review this information and then contact us to make payment arrangementsWe can also discuss discounted early ownership options with her now that the 90-day buyout date has passedShe can reach us at (855) 552-during regular business hours

The Crest Financial account in question is not for [redacted] , although she is listed as an authorized user on the accountAny credit reporting will only reflect history for the individual's name under which the account was createdUnfortunately, a technical error has delayed reporting on this account, however we are working on correcting the situationWe apologize for any inconvenience and confusion the customer has experienced

Crest Financial charged off Ms [redacted] ’s account in February due to non-payment (see attached payment history, chat transcript, and lease agreement)The account was transferred to a third party for collection, which then appears to have transferred the debt to another third-party collector (Secure Capital Management)We no longer have any business interest in her account and she will need to work with Secure Capital Management moving forward

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 as long as it is not a credit to only be used thru this same business Sincerely, [redacted]

We appreciate Ms***’s dedication to prompt payments on her Crest Financial leases and apologize for the misunderstanding regarding her credit reportingAlthough she has paid off three leases with us, those leases are all attached to her unique account number in our systemThat is the number that’s been reported to the credit bureau and why it appears as only one account being paid in fullAs we explained to her when she called in today (3/10/17), we are happy to provide her with letters stating that each of her leases has been paid on time and in fullShe is welcome to contact us during regular business hours at (855) 552-and any representative can help her

Ms [redacted] ’s bank account has been funded for this lease, and while we apologize for the frustration she’s experiencing, we’d also like to correct some of the information she included in her statementBecause of the sensitive nature of this situation, we chose to be in frequent contact with her via phone calls from her account manager with a status and reasons behind the delay in this particular funding, versus impersonal emailsWe process funding same day or next day on a regular basis and Ms [redacted] had initiated only two leases with us within a 60-day period last fall, so doesn’t have the appropriate first-hand extended experience to be quoting the details she includedHer accusations are not only unprofessional, but damaging to our reputation and we will follow up with her accordinglyWe appreciate the opportunity to address this complaint in a public and fact-based forum

According to our records, the customer has spoken with our agents on four occasionsThey have done their best to explain our policies regarding fraudAs the agents explained, the account was submitted for review by our fraud department, even without the police reportUpon review, the fraud department determined the lease was opened fraudulently, using stolen banking information, and the account was closedThe customer was never promised a call from our fraud department as that is against our policies and would affect the fraud department’s ability to make a reasonable and unbiased decision.Typically, all a customer needs to file a police report is a bank statement and the city the banking information was stolen from, their local cityAs we explained previously, this report was not required, but recommended to expedite the fraud investigation processAs it is, even without the police report, we closed the account, we did not receive any payments and we have reversed any credit reporting.We reserve the right to protect our retailers’ privacy and we are not required to release any information about them without their permissionOur investigation has determined that this was a fraudulent customer, using stolen banking information and it was not the fault of the retailerWe have done everything in our power to correct the issue and prevent it from happening againWe encourage the customer to review their bank statements, as the stolen banking information, may have been used by the thief at other stores or financial institutions