Crest Financial Services, LLC

We appreciate our long-standing business relationship with Mr. [redacted] and [redacted]. This situation was the result of a paperwork and process miscommunication. The Receipt of Goods and Rental Purchase Agreement (signed copies attached) specified "battery" as the item being leased, however...

the additional category (appliance) coffee maker was not listed.In any case, the lease has now been funded and we have communicated directly with Mr. [redacted] to confirm that with him.

Our
automatic credit reporting system is currently down, but we are
working diligently to get that back up and running, and as soon as we get that
back up, we...

will report all past information to ensure
accurate reporting. Your payment information for both your first lease, as
well as your second lease have been reported to the credit bureau. This can
take up to 30 days to reflect on your report. 
As we explained on the phone and in the lease
agreement, we require 3 days advance notice to change a payment. Processing ACH
payments takes several days to process so we initiate them early to ensure they
process and the payment is taken from the bank account on the proper date. When
the customer called in to make payment arrangements that payment was already
processing and could not be cancelled.
That payment was scheduled in item 2 of the
lease agreement. When the customer made alternate payment arrangements, that
payment was taken into account and the future payments were set up based on the
remaining balance after that payment. We will not be able to refund that
payment.

Mr. [redacted] electronically signed a lease agreement using a program called DocuSign. Electronic signatures are secure, legally binding, and widely accepted for most business transactions around the world. The DocuSign website explains how their system works and that the process is secure and legally binding. We have attached a copy of the customer’s lease agreement. The customer should have read the lease agreement prior to electronically signing and could have viewed a copy through the Crest Financial online portal or requested a copy at any time from our customer service team. If the customer believed that the document was fraudulently signed, he should have taken steps to resolve the issue prior paying off the lease. Mr. [redacted] operated within the terms of the lease for 7 months. At no point in that time did he question the validity of the lease agreement. Now that the lease has been paid in full, we consider the account closed. We have already given Mr. [redacted] a discount of more than $[redacted] and will not be able to process a refund with any additional discounts.

Ms. [redacted] entered into a rental purchase agreement (copy attached) with Crest Financial via PLC Bedding (the retailer) on 3/21/17. On 3/29/17, we received confirmation from the retailer that the merchandise had been delivered. We 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 delivered. Ms. [redacted] made her first scheduled weekly payment of $41.39 on 4/7/17. Her scheduled payments were made through 7/7/17, however the next three scheduled weekly payments were returned to us unpaid by her bank. We 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 back. We did not get a call back, and made over 40 calls to her until early November. The calls either went unanswered or were answered and then immediately disconnected when we identified ourselves. We also sent at least 5 text messages. We did not receive any further payments (payment history attached) on the 12-month agreement. On 11/7/17, she called us to say she hadn’t received her merchandise. We provided her with a phone number for the retailer, and also explained we’d contact them as well. We 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 disconnected. We then attempted to contact her multiple times via the reference listed on her account profile but were unable to reach her. At this point the account was charged off and transferred to a third-party collection firm for further action. On 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 business. We explained we had been attempting to contact her with that information and to provide her with the form to initiate a fraud claim. She was uncooperative, belligerent, used profanity, and then disconnected the call. We 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 3/29/17 (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.

Complaint: [redacted]
I am rejecting this response because: I have view the contract attached that was not signed by me. I was never asked to sign a contract. I have never seen that signature in my life. I do not know who signed that contract. It doesn't even have a Last name. I am disputing this contract as I never signed an agreementwith this company. I have attached an image with my signature so you can compare. I use this signature for everything requiring my signature.  I agreed to pay 2000.00 I have already payed 1400 and will only pay the remaining 600.00 to end this terrible nightmare. 
Sincerely,
[redacted]

Complaint: [redacted]
I am rejecting this response because: The latest correspondence that I received from Crest Financial dated 03/02/17, says that the credit reporting status was changed from "open" to "paid off." I have contacted Equifax and they have no reports from Crest, which has stated previously that payments were being reported as they were cleared.
Sincerely,
[redacted]

We made five attempts to contact Ms. [redacted] to process the return she requested on May 16, 2017, however were unable to reach her. Therefore, we dismissed the return request on May 24, 2017. Ms. [redacted] then called us on May 26, 2017 to ask about the return. Upon speaking to our representative, she...

used vulgar language and abruptly ended the call without providing us with the information necessary to continue the return process. Upon receiving this complaint on June 5, 2017, we logged the new phone number included in Ms. [redacted]’s contact information. We’ve since made four attempts to contact her using that number with no success. If she contacts us at (855) 552-7378 and can remain helpful and civil, we can assist her in processing the lease return she’s requesting.

There are a few leases associated with Mr. [redacted]'s account that are unfortunately delayed due to circumstances beyond our control. We'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.

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 statement. Because 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 emails. We 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 included. Her accusations are not only unprofessional, but damaging to our reputation and we will follow up with her accordingly. We appreciate the opportunity to address this complaint in a public and fact-based forum.

We appreciate Ms. [redacted]’s second lease with Crest Financial as well as her experience with our program and the terms within it. Based on the claims Ms. [redacted] is making, we believe she may be confused about some dates and the calculation of 90 days from delivery. We’d like to clarify for her...

benefit. On 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 representatives. At this time she noted that the merchandise would be delivered to her at a later date. On 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 7/28/17 in the amount of $138.03. On 7/19/17, Ms. [redacted] called to inform us that her merchandise had not yet been delivered. We contacted the retailer, who stated the delivery was re-scheduled for 7/22/17. On 8/3/17, we confirmed with the retailer that the merchandise had been delivered to Ms. [redacted] on 7/22/17. The retailer also informed us that a chest of drawers had been replaced on 7/29/17 after being delivered damaged on 7/22/17. With a confirmed merchandise delivery date of 7/22/17, Ms. [redacted]’s 90-day buyout date was recalculated from 10/10/17 (based on the incorrect delivery date of 7/12/17) to 10/20/17. There are 90 calendar days between 7/22/17 and 10/20/17. Ms. [redacted] then made her first four scheduled bi-weekly payments, beginning on 7/28/17. On 9/20/17, she contacted us to move the 9/22/17 payment to 10/4/17 due to limited funds available. She then made that payment as well as the next two scheduled bi-weekly payments. However, the scheduled bi-weekly payment for 11/3/17 was returned to us unpaid by her bank (see attached payment history). In addition to the $138.03 for that payment, her account has also been charged a $25.00 returned payment fee. Those two amounts are now overdue, and the next scheduled bi-weekly payment of $138.03 is due on 11/17/17 as well. Ms. [redacted] contacted us today (11/14/17), returning our calls regarding her overdue payment. During this call she asked about her 90-day buyout date. When 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 scheduled. Our representative began explaining the dates noted above, however Ms. [redacted] abruptly disconnected the call. We encourage Ms. [redacted] to review this information and then contact us to make payment arrangements. We can also discuss discounted early ownership options with her now that the 90-day buyout date has passed. She can reach us at (855) 552-7378 during regular business hours.

Complaint: [redacted]
I am rejecting this response because:
I never saw any contract nor signed any papers. Please provide my with my signature. This was a start up business and I didn't even know they weren't the ones financing. 
Sincerely,
[redacted]

Ms. [redacted] signed a rental purchase agreement with Crest Financial on 2/13/17 and her merchandise was delivered on 2/18/17. It was the delivery date from which her 90-day buyout deadline is calculated, making the date it expires 5/19/2017. Ms. [redacted] claims to have attempted to contact us “this...

weekend” which we conclude was 5/20 or 5/21 based on the date of her complaint being 5/23. 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 calls. In 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 5/18 to 5/22. We spoke to Ms. [redacted] three times on 5/23 and again on 5/24 in an attempt to offer an equitable solution. On 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 $250.00. As a one-time courtesy, we also offered to reduce the additional amount to $200.00, making her buyout amount $834.61. We need to receive this amount no later than 5pm today, 5/24, which she said she would do. Otherwise, Ms. [redacted] can continue to make her semi-monthly payments of $116.92 until 2/11/2018 when the lease balance of $2,104.35 is paid in full and she’ll own her merchandise at that time.

Complaint: [redacted]
I am rejecting this response because: I don't remember signing any thing from crest financial. but from ([redacted])
Sincerely,
[redacted]

The Crest Financial account in question is not for [redacted], although she is listed as an authorized user on the account. Any credit reporting will only reflect history for the individual's name under which the account was created. Unfortunately, a technical error has delayed reporting on this...

account, however we are working on correcting the situation. We apologize for any inconvenience and confusion the customer has experienced.

At Crest Financial, we provide families with no credit
needed lease options through selected retail partnerships. We offer leases on
merchandise that customers select from their local retailers. Customers sign a
lease agreement for a 12 month lease, but we offer several options for
discounted...

early buyout options. One of these options is a 90 day buyout option
which offers significantly discounted lease fees to customers who buy out their
lease within the first 90 days.
The customer chose not to take advantage of this 90 day
buyout option. As of the customer’s 90th day, June 30, the customer
had paid $360. The cash price of the merchandise the customer leased is $800.
The first page of the lease agreement explains the terms of the lease. Item 2 of
the attached signed lease agreement says, “In addition to the Initial Payment,
you must renew this Lease by tendering 24 SemiMonthly payments of $[redacted] for a
Total Cost of $[redacted]…The Total Cost is $[redacted] more than the Cash Price.”
Item 10 of the lease agreement explains that payments may be
charged on or after their due date. Two scheduled payments (on July 30 and
August 15) returned unpaid so the account have been past due since July 30.
When an account falls past due, it is our policy to schedule additional
payments in an attempt to get the account back to a current status. We only do
this after attempting to establish contact with the customer and with the authorization
granted in the lease agreement.
Per the lease agreement, the customer still has a remaining
balance of $[redacted]. We can offer a discounted buyout of $[redacted]. That amount
would need to be paid in one final payment before the next scheduled payment.
After that date, we can still offer a discounted buyout but the amount may be
different based on the status of that payment. The customer will need to call
out Customer Service Team to discuss other options.

The retailer from which Ms. [redacted] acquired her merchandise is one of our top-tier retailers and has a well-developed training program for all associates within its multiple locations. In fact, they have electronic tablets for every transaction that allows their employees to walk through the...

program with the customer as they are covering details of the lease agreement and subsequently executing the transaction. This is the "swiping" that Mr. [redacted] refers to in his complaint. There are four documents attached: 1. Lease agreement - electronically signed by Ms. [redacted] using her personal email address ([email protected]). In order to have electronically signed this document via DocuSign, Ms. [redacted] was required to validate her identity via her personal email account. This is the email address that has been confirmed in our contact system numerous times over the past 15 months. Once the lease agreement was electronically signed, a copy was emailed to her at that email address. 2. Payment history - as indicated in the complaint, Ms. [redacted] clearly had difficulty making the payments she committed to make in the lease agreement. Her lease agreement was re-aged in April 2016 at her request in an effort to make her payment amount manageable. After that accommodation, Ms. [redacted] still had difficulty making payments. 3. Fees history - due to Ms. [redacted]'s inconsistent payment history, her account has accrued fees as a result of several missed and bounced payments (fees are specified in section 11 of the lease agreement). 4. Communication log - the multiple times we have attempted to contact Ms. [redacted] regarding the status of her account are clearly reflected in this log as well as the method by which we attempted the contact (email or mail).Currently Ms. [redacted] owes $2,645.35 on the lease agreement, and would need to pay $1,525.02 to become current in order to make regular payments again per the re-aged lease agreement.At this time, we'd like to make a one-time offer of settlement in the amount of $1,950.00 for Ms. [redacted] to pay off the lease and own her merchandise. We are willing to accept this amount in two equal payments of $950.00, one due by December 31, 2016 and the other due by January 31, 2017. To take advantage of this offer, we need to hear back from Mr./Ms. [redacted] within 7 business days.

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]

While our lease agreement does not require us to send notifications for future payments, as we include a payment schedule in the lease agreement and list the next 3 payments on our online customer portal, we do typically send a notice before we process a payment. Due to an error in our outside email processing company, we were unable to send those emails for about a  week, so we were unable to extend this customer courtesy, but continued to draft on the agreed upon dates. We have corrected this problem in our email processing system so future payments will be accompanied with a notice. We have already corrected the customer’s problem with her payment schedule so future payments will be drafted according to our previous response as she requested on the phone with an agent. We cannot refund the customer’s payment as that would put the customer in a past due status as she would be behind on her payments according to the lease agreement. We encourage the customer to check her current payment schedule and let us know if she has any problems with that schedule so we can make changes before the first payment begins processing. We are trying to make sure everything is correct and agreeable to both parties going forward.

As explained in the lease agreement, the “down payment” is
an initial payment made to Crest Financial that starts the lease. It is kept on
file and listed in the lease agreement. Other 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
merchandise. Keeping up on scheduled payments keeps customers very close to
this daily amount. As of today (Monday, December 14, 2015), Ms. [redacted]’s unpaid
costs are $[redacted]. This amount will increase each day until a scheduled payment
is made or the unpaid costs are paid via debit or credit card. The customer
will also need to return the merchandise by shipping it to the Crest Financial
Warehouse at 61 West 13490 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 payment. Ms. [redacted]’s discount is 35% off the remaining balance on the
account. Ms. [redacted] would need to pay $[redacted] in one payment by December 23.
This would close the account as paid in full and the customer would be able to
keep the jewelry she leased.

Mr. [redacted]'s account was manually reported to Equifax on 2/27/17 to confirm the paid off status. Mr. [redacted] can reference control #[redacted] if he contacts Equifax again to follow up.