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Crest Financial Services, LLC

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Reviews Crest Financial Services, LLC

Crest Financial Services, LLC Reviews (335)

Complaint: [redacted]
I am rejecting this response because:  I never added any of the cards on accounts on file, as I stated I purchased the jewelry in the store and the checking account that I gave to them I was told that I could not use an account associated with a prepaid card.  That is when I gave them another checking account, if you were not able to use it to open the account with, then that means that you should not be able to use it to do a ACH withdrawal from it.  As far as my cards are concerned, I used them in the store before my agreement was printed out and given to me, so I fills as though I should have been told right then and there that my cards I was using to do my first payment  would be kept on file.  I have know problem with the merchandise, the problem is that you have access to my cards without my permission.  
Sincerely,
[redacted]

Mr. [redacted]’ restatement of the offer is correct – two payments of $898.45 each (total of $1,796.89) received no later than 2/14/18. Once the total amount is received, the account will be recorded as settled.

Upon investigation, which included conversation with the retailer as well as a thorough review of all call notes and recordings, it appears Ms. [redacted] may be confused as to the resolution provided to her by the retailer. The original transaction covered a mattress for $560 and platform bed for $140....

The mattress and platform bed were not the right sizes in order to work as a set, which caused the platform bed to break. The retailer repaired the platform bed twice, and after the second repair decided to exchange the one she had for a new one. Because it is a larger size platform bed and a higher quality item, its retail price is $500. Ms. [redacted] has, in fact, received a significant product upgrade for no additional charge. Her rental purchase agreement requires bi-weekly payments of $54.27. Should she choose to exercise her 90-day buyout, that amount would be $449.60 and is due no later than June 27, 2017. After that date she can exercise the early buyout option detailed in her rental purchase agreement (attached for reference).

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 because my credit report has finally been updated correctly.
Sincerely,
Dashinka B[redacted]











8/14/2015






Complaint

I paid off a loan within 90 days, never late. However, my Equifax credit report shows the status as being a paid charge off which is absolutely false. I immediately contacted Crest Financial upon discovering this, however they were very unhelpful. I have filed 2 disputes with Equifax but results...

were unsuccessful. I have proof that I never paid late (which I provided to Equifax) the loan was paid off in 4 payments. I just need them to correct the Equifax file from their side to correctly reflect my payment history. this is currently having a very negative impact on my credit score.







Desired Resolution

I would really like for the business to correct my credit report asap. I have worked extremely hard to repair my credit and find it disheartening that a company can be so careless and disregarding with something as important as an correctly reporting accounts to the credit bureaus.

Consumer Business Dialog

We appreciate Ms. [redacted]’s dedication to prompt payments on her Crest Financial leases and apologize for the misunderstanding regarding her credit reporting. Although she has paid off three leases with us, those leases are all attached to her unique account number in our system. That is the number...

that’s been reported to the credit bureau and why it appears as only one account being paid in full. As 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 full. She is welcome to contact us during regular business hours at (855) 552-7378 and any representative can help her.

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.
Sincerely,
[redacted]

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 responding. We 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 leasing options through selected retail partnerships. Customers select
merchandise from a local retailer and lease the merchandise through Crest
Financial. Customers are automatically set up for a 12 month lease with a 90
day buyout...

option and all customer sign a lease agreement to that effect. The
90 day buyout option offers significantly discounted leasing fees to customers
who pay off their lease with 90 days of opening the lease.
Ms. [redacted] leased a mattress set valued at $522 on June 29,
2015. As explained in her lease agreement, “In addition to the Initial Payment,
you must renew this Lease by tendering 26 BiWeekly payments of $[redacted] for a
Total Cost of $[redacted].” The 90 day buyout option offered Ms. [redacted] the option to
pay the cash price of the merchandise plus the $40 initial payment within 90
days. Ms. [redacted]’s 90th day was September 25, 2015. At that time, she
had paid only $486.14. Because she did not take advantage of the 90 day buyout
option, Ms. [redacted] is responsible for the full terms of the lease.
As with all leases, Ms. [redacted] is responsible for payments on
the leased merchandise for the amount of time she has maintained possession of
the merchandise. Ms. [redacted] is responsible for an amount pro-rated each day.
Making scheduled payments keeps customers close to their pro-rated amount. In order the return the merchandise, Ms.
[redacted] will need to make a payment for the remaining pro-rated amount. Today
(1/27/16), that remaining amount is $[redacted], but that amount is pro-rated
daily and will increase slightly each day until a payment is made. Ms. [redacted]
must contact our returns department to finalize these arrangements.
Currently, Ms. [redacted] has a remaining payment amount of
$[redacted]. We are willing to offer a
discounted buyout of $[redacted]. If a final payment of $[redacted] is made in one
lump sum by February 3, the account will be closed as Paid in Full.

We apologize for the technological difficulties in our payment system that prevented immediate visibility to the confirmation code on Ms. [redacted]'s account. We contacted her this morning (1/23/17 at 10:17am MT) to confirm we had received the payment and it was applied to her account with no...

additional lease fees charged. We also provided her with the confirmation number for this payment and she will receive a paid in full confirmation shortly. We hope this addresses Ms. [redacted]'s concern.

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. Crest acted quickly once this matter was brought to their attention via Revdex.com. 
Sincerely,
[redacted]

Complaint: [redacted]
I am rejecting this response because:The contract says I can terminate.   You need to pick up merchandise.
Sincerely,
[redacted]

We understand the customer’s frustration. According to ourrecords, the customer fell past due when a payment returned on February 5,2015. On accounts that are listed as past due, we are authorized to draftrandom payments in an attempt to bring the account to a current status. This isauthorized in...

Item 10 of the lease agreement signed by the customer. We haveattached a copy of the lease agreement. According to our records and the lease agreement, thecustomer financed $[redacted] through Crest Financial. They financed an entiresound system including the stereo, attachment cables, speakers, installmentkits and a DVD/CD Receiver with a touchscreen. The total amount financed, plus anyfinance fees is the amount we report as a balance to the credit bureau Equifax.We also report whether the account is up-to-date or past due. Unfortunately, we aren’t able to take our reports off of acustomer’s credit. We report all payments to the credit bureau, but we can’tguarantee that it will have any effect on their score or that it will show upin a report. We have accurately reported the information to the credit bureauso we cannot edit any previous reports. The confusion seems to have arisen when the customerattempted to return his merchandise, but didn’t properly follow our return policies.He returned only one part of the merchandise. We also require customers to paya return fee in order to complete a return, which the customer did not paydespite multiple requests and explanations. Our return policy is explained inItems 7 and 8 of the lease agreement. It explains the minimum lease term andthe termination policy. It says:“You are responsible for all fees and charges incurred todate plus a one-time payoff equal to the number of days you have maintainedpossession of the property multiplied by an equation equal to the amount of thenext regularly scheduled payment divided by the number of days during thatpayment period…You may end this Lease at any time without penalty by returningthe Property to us in accordance with the directions we give you and paying uspast due payments, minimum lease term payments, unpaid costs, fees, or charges,and any damage to rental property, excepting normal wear and tear.” Because this is a lease, the customer is responsible for thenumber of days they have had possession of the merchandise. This pro-ratedamount is reflected in the return fee. We understand this equation can beconfusing so when customers call in and request a return, we calculate their returnfee for them. We explained this fee to the customer and that the return willnot be valid until the fee and the entire purchase have been received. Currently, we havelisted the account as “charged off” and “do not contact” so we will not contactthe customer or attempt to collect any more payments, including the return fee.We consider this account closed. We can returnthe part of merchandise we have received, but we would hold the customerresponsible for all shipping costs, including insured post. We would also reopenthe account and continue to attempt payments and report to the credit bureau.There may also be reinstatement fees and additional insufficient funds fees forpayments previously returned. The customer has paid a total of $[redacted] and currently has aremaining balance of $[redacted] (including fees) which we would continue tocollect if the customer chooses to reactivate his account. If the customerwishes to reactivate his account and have the merchandise returned to him, hecan reach out to us at [redacted] and ask for the returns department.

Complaint: [redacted]
I am rejecting this response because:Crest financial did not offer to pay my overdraft fees dues to their paperwork errors on their behalf. I had to wait for over a week for the refund and this caused my other bills to be late. Their paperwork errors caused my overdraft fees because they were not suppose to take any money out of this account in the first place. Crest financial is clearly unprofessional and demonstrates unethical behavior. They did not take full responsibility for their actions. How hard is it for Crest Financial to pay an overdraft fee?  I will advise anyone please stay away from this financing company. They will refund your money a week later but completely ignore your overdraft fees that they caused.
Sincerely,
Joi M[redacted]

Unfortunately, we are neither responsible nor authorized to delete items from the report generated by a credit bureau. If we have made an error in our reporting to the credit bureau, however, we can submit a correction and the credit bureau updates the report. In this case, the information we...

reported to the credit bureau is accurate. Ms. [redacted] is the owner of the account with us and signed the rental purchase agreement and receipt of goods for the merchandise (attached). Her payment history is also attached for reference. We were notified on May 12, 2017 that Ms. [redacted] had disputed ownership of this account via the credit bureau. We responded to that inquiry with this same information, however if Ms. [redacted] believes this account was fraudulent in any way, we have a process for handling it. She will need to file a police report and provide us with that documentation in order to start the investigation on our end.

When customers sign a lease agreement with Crest Financial, they are certifying that the merchandise is in acceptable condition and is as stated in the lease agreement. The customer also accepted delivery of the merchandise, indicating he would accept ownership of the merchandise. The customer did...

not attempt to return the merchandise until a week later. Mr. [redacted] attempted to return the merchandise to the store and utilize their return policy instead of Crest Financial’s. We cannot comment on the retailer’s return policy or anything that happened with the retailer because we are a third-party leasing agent and are not responsible for their employees. According to the retailer, they have an exchange policy, but needed to get approval from their corporate office before they could initiate the exchange, which could take up to a week. The customer made a scene and tried to leave the mattress behind. Managers explained that by state law, they couldn’t take the mattress back into the store. Eventually, the retailer had to lock their doors to keep the customer from causing a physical altercation. The customer then damaged the mattress by dragging it across the parking lot and abandoning on top of an employee’s vehicle. The store called the police and made a report of property abandonment. Because of this altercation, the retailer is no longer willing to offer an exchange. Because the customer has already stated that the mattress is damaged, we are unable to process a return. Because the customer leased the merchandise, the product would need to be in the same condition as stated on the lease agreement (excepting regular wear and tear). The customer has indicated this is not the case. The customer also no longer has possession of the merchandise so he cannot return it. Our lease agreement has a clause about damage or loss to the property. It is explained on the first page, in item 4. It says, “You are solely responsible for the Property’s fair market value at time of loss or damage or for repair in case of damage. In the case of loss or damage you will owe the amount due through exercising the early purchase option or the cost of repair.” On April 29, 2015, we reported this account as a charge off to the credit bureau due to non-payment. The account is currently 320 days past due. We may be able to offer the customer a settlement to pay off the lease for a lower amount. Once that payment is made we would report that change in status to the credit bureau, but because we have an electronically signed, legally-binding lease agreement, we will not be able to simply cancel the lease. The customer admits that he had possession of the merchandise and chose to abandon it at the retail store. He is responsible for the terms of the lease agreement.

We can help solve this problem for Ms. [redacted], however it’s unproductive to continue battling over accusations. Because there is a signed and binding agreement in place, there are steps that must be taken to dissolve it and refund any money as a result. The first step is for Ms. [redacted] to complete the fraud form and file the police report and get copies of both to us. At that point we can continue our investigation, including a review of information contained in public records.

We apologize for the confusion but we’re glad you were able to get an answer to your question. All of our agents are human beings and sometimes mistakes happen. We did recently change our procedure for how we process sales tax so we are working on making sure all of our agents are properly trained....

We’ve passed your concerns along to our training department so they can clear up any confusion in the future. Thanks for bearing with us and being patient and understanding while we make this transition. We’re glad Kodey was able to get you the right answer!

Crest Financial charged off Ms. [redacted]’s account in February 2016 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.

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]

This is acceptable and I will mail the product back to them (with insurance) by tomorrow at the latest.  Thank you for your help resolving this matter.
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.
Sincerely,
William M[redacted]

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Address: 61 W 13490 S, Draper, Utah, United States, 84020

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