Crest Financial Services, LLC

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

We do our best to make payments as easy as possible for customers which is why we offer several methods for customers to make, schedule and check on paymentsBecause we offer so many options, we do not notify customers when a payment doesn’t process, especially when missing the payment doesn’t cause the customer to become past dueWe rely on customers being responsible and attentive to their bank accounts and to notify us about problemsThis is particularly true when customers are trying to take advantage of a limited-time discount like our day buyout optionWe do see that there was an error in scheduling this $payment in JanuaryWe aren’t sure what happenedMr [redacted] currently has a payment processing through our systemIf this payment fully processes and doesn’t return unpaid, we will mark this account as Paid in Full

At Crest Financial, we provide families with no credit needed lease options through selected retail partnershipsCustomers select merchandise from a local, independent retailerCrest pay the retailer for the merchandise and the customer leases the merchandise from Crest FinancialRetail representatives are independent, 3rd party sales reps and they don’t have the ability to change the terms of the lease at point of saleNor does Crest Financial have any way of knowing or acting upon what the retail representative is toldAt the time of purchase, customers sign a lease agreement that initiates the leaseThe terms of the lease are fully explained in the agreement, which we have attachedNote the box on the first page, just above the customer signature which indicates the amount of each payment and states the payments will be weekly, and the boxes immediately to the right which explain there will be payments spanning the month leaseWe also make several attempts to contact all customers at the start of the lease to make sure the customer understands the terms of the leaseDuring these calls, we can also make changes to the customer’s payment scheduleThe customer signed their lease on May We attempted to call the customer on May 12, and to ensure the customer understood the lease and to set up the customer’s payment scheduleWe also encourage customers to regularly check their online customer portal, which shows the date and amount of the next several paymentsThe customer did not return our welcome calls and did not contact us until after her first scheduled payment was processedAt this point, we cannot issue a refund as we did not violate the terms of the lease agreementWe have adjusted the customer’s future payment schedule for all future paymentsPayments are now scheduled for the second Friday of the month, excepting the last payment, which will be the first Friday in August in order to allow the customer to be paid in full within her day discount periodAll of these payments are listed on the customer portalAny other changes can be made by contact customer service at least days before the payment is scheduled

After investigating this situation, we cannot find an account in the name of [redacted] that has any of the same identifying information as what Ms [redacted] has included in this complaint (email address, street address, phone number)We reported credit on two other accounts under the name of [redacted] to Equifax in and earlier this yearBecause the information we have on those accounts is not the same as what Ms [redacted] included here, it is most likely a data reporting error on the part of EquifaxMs [redacted] can most efficiently resolve this error by contacting Equifax directly and providing the information they require to have it correctedWe don't have a reporting relationship with the other two credit bureaus, so we would not be responsible for anything related to items appearing on reports generated by those two credit agencies

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 locationsIn 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 transactionThis is the "swiping" that Mr [redacted] refers to in his complaintThere are four documents attached: 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 accountThis is the email address that has been confirmed in our contact system numerous times over the past monthsOnce the lease agreement was electronically signed, a copy was emailed to her at that email addressPayment history - as indicated in the complaint, Ms [redacted] clearly had difficulty making the payments she committed to make in the lease agreementHer lease agreement was re-aged in April at her request in an effort to make her payment amount manageableAfter that accommodation, Ms [redacted] still had difficulty making paymentsFees 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 of the lease agreement)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,on the lease agreement, and would need to pay $1,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,for Ms [redacted] to pay off the lease and own her merchandiseWe are willing to accept this amount in two equal payments of $950.00, one due by December 31, and the other due by January 31, To take advantage of this offer, we need to hear back from Mr./Ms [redacted] within business days

Complaint: [redacted] I am rejecting this response because:When I entered into contract,I chose monthly billing on my applicationThe contract breaks down how they do weekly billingHowever it also breaks down all other options to pay, as well as the price one will pay if you pay before said dateNowhere does there contract say when they would start billing What the contract says is the first billing would begin the day of your next paycheckWhich based off my application would be the first Friday in JuneIt is unbeknownst to me how they would begin to a) charge me on Thursday May 27, which is not one week after my purchase, one month from my purchase or the date of my next paydate is a strong arm tacticThis company feels they can do whatever they want w/out meritSimply because they have my informationAlthough they contacted me, to set up my accountThey never contacted me by phone, mail, or email to say they would begin billing me on said dateAnd for the record I did contact them immediately after the charged debited my account, and I reiterated that my account should be billed on a monthly basisThey may not refund my money, but I will continue to pursue thisTheir practices are unethical and I will make sure that others who are like me choose not to do business with themI have dealt with other companies i.eProgressive financial and tempo and they notify you of there intent to bill, they don't just bill you.Thank YouTiffany W***

We apologize for the errorWe report credit using an automated systemThere was an error in our processing systemWe alerted our IT department to the problem and they are addressing itWe submitted an individual correction to Equifax on August At that time, we resubmitted information about the entire life of the leaseWe corrected the information and listed the account as paid offWe cannot influence what happens after we submit the correctionIt may take a few months for any changes to appear on the customer’s credit report Again, we apologize for the inconvenienceWe are working to address the issue so it will not happen again and we have submitted a correction to the credit bureauWe urge the customer to be patient in waiting for that correction to appear on a credit reportIn the meantime, we will send the customer a letter stating the account is paid in full at the customer’s request

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 behalfI had to wait for over a week for the refund and this caused my other bills to be lateTheir paperwork errors caused my overdraft fees because they were not suppose to take any money out of this account in the first placeCrest financial is clearly unprofessional and demonstrates unethical behaviorThey did not take full responsibility for their actionsHow hard is it for Crest Financial to pay an overdraft fee? I will advise anyone please stay away from this financing companyThey will refund your money a week later but completely ignore your overdraft fees that they caused Sincerely, Joi M [redacted]

At Crest Financial, we provide families with no credit needed lease options through selected retail partnershipsWe offer leases on merchandise that customers select from their local retailersCustomers sign a lease agreement for a month lease, but we offer several options for discounted early buyout optionsOne of these options is a day buyout option which offers significantly discounted lease fees to customers who buy out their lease within the first days The customer chose not to take advantage of this day buyout optionAs of the customer’s 90th day, June 30, the customer had paid $The cash price of the merchandise the customer leased is $ The first page of the lease agreement explains the terms of the leaseItem of the attached signed lease agreement says, “In addition to the Initial Payment, you must renew this Lease by tendering SemiMonthly payments of $ [redacted] for a Total Cost of $ [redacted] The Total Cost is $ [redacted] more than the Cash Price.” Item of the lease agreement explains that payments may be charged on or after their due dateTwo scheduled payments (on July and August 15) returned unpaid so the account have been past due since July 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 statusWe 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 paymentThe customer will need to call out Customer Service Team to discuss other options

Complaint: [redacted] I am rejecting this response because: I'm going to need some more time to locate proof I contacted the company to pick up the itemsI'm not 100% sure if it was the furniture company I bought the items from or Crest FinancialI believe it was both but I want to make sure I have documentation to back that upRegarding the offer to close this account I want to make sure I understand the terms correctlyCrest Financial is stating they will accept payments of $898.45, totaling $1,as long as both payments are received no later than 2/14/18? Once the 2nd payment is received the account will be closed?If I can get some clarification on this to make sure we are on the same page I would appreciate itThanks Sincerely, [redacted] ***

Complaint: [redacted] I am rejecting this response because:This doesn't explain the lack of call back from the company, doesn't explain how the company can expect me to file a police report but would not provide the city information or the retailer information to allow me to do soAlso it's not on the retailer to better verify it is the responsibility of the leasing agency to accept or decline these requests for creditIf the leasing agent isn't getting proper id that is on Crest FinancialAlso how can the customer service agents give me a different story everytime? And then try to say my bank verified someone else owned my accountSounds to me like this is an inside job at the retailer or CrestI still don't know which retailer even used my accountCan that be provided? Sincerely, [redacted] ***

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]

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

We pride ourselves on providing the best customer support in the industry, and for that reason we record all calls for training and quality purposesOur sophisticated customer contact management system also automatically logs all calls made and received as well as actions on all accounts (scheduled payments, fees waived/charged, communication emailed or mailed via USPS, transactions/logins via the online customer portal, etc.)We did not receive any calls from Mr [redacted] on 1/13/We do have a recording of the call we received from Mr [redacted] at 8:17am MT on 1/14/During this call Mr [redacted] was rude and disrespectful, using foul language, and ended the call by abruptly disconnectingIn spite of Mr***'s approach, our representative maintained a patient and professional demeanor in explaining the details of Mr***'s accountDuring that call, Mr [redacted] indicated he had paperwork specifying his Day Early Ownership Option deadline date was 1/14/However, all the documentation we have provided to Mr [redacted] since the original transaction confirms that date to be 1/13/In addition to a welcome call on 10/27/at 1:49pm MT during which the agent reviewed scheduled payments and Day Option date, he also received a welcome letter via U.SMail and email confirming that informationHe also created his account within our online customer portal on 10/15/16, and the Day Option date of 1/13/was clearly displayed on his account page until the day after it expired on 1/14/Mr [redacted] logged into his portal numerous times between 10/15/and the date of this response, and the Day Option date of 1/13/was clearly visible to Mr [redacted] each of those timesHowever, we did offer to honor the date of 1/14/if Mr [redacted] could provide a copy of the document reflecting that dateHe declined to provide that document We also spoke with Mr [redacted] on 12/14/at 11:04am MT regarding a scheduled payment on 12/10/that had been declined by his credit cardDuring that call, he was notified that his 90-day Option expired on 1/13/17, his balance due on that date was $1,450.91, and his next payment of $would be due 12/24/Mr [redacted] verbally acknowledged that informationOn 10/15/16, Mr [redacted] signed a lease agreement which clearly identifies the terms to which he agreedHis signature page, the full lease agreement, and the receipt of goods form are attached for referenceBy signing the agreement, Mr [redacted] acknowledged that he had read and understood the lease and its terms, including the additional lease terms on pages 2-6, and received a completed copy of the leaseThe terms and payments relevant to this complaint are defined in detail in sections 2, 6, 8, and Per section 6, Mr [redacted] may exercise the Early Purchase Option currently available to him (option B) and make a lump sum payment of $2,to complete the lease and own his merchandiseOtherwise, he has regular bi-weekly payments of $(next payment due 1/21/17) currently scheduled through 10/14/Upon making that final payment, Mr [redacted] will own his merchandise and the lease will be complete

It appears from the notes in our system regarding Ms [redacted] and Mr [redacted] ’s account that the situation has now been resolvedThe representative Ms [redacted] spoke to this morning emailed her a letter stating the account has been paid in full since February 2016, and also sent a new report file to the credit bureauUnfortunately, we can’t control how credit bureaus handle our reports, but Ms [redacted] can send the paid in full letter to them to achieve her desired result

We can help solve this problem for Ms***, however it’s unproductive to continue battling over accusationsBecause 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 resultThe first step is for Ms [redacted] to complete the fraud form and file the police report and get copies of both to usAt that point we can continue our investigation, including a review of information contained in public records

We understand the customer’s frustrationAccording to ourrecords, the customer fell past due when a payment returned on February 5,On accounts that are listed as past due, we are authorized to draftrandom payments in an attempt to bring the account to a current statusThis isauthorized in Item of the lease agreement signed by the customerWe haveattached a copy of the lease agreementAccording to our records and the lease agreement, thecustomer financed $ [redacted] through Crest FinancialThey financed an entiresound system including the stereo, attachment cables, speakers, installmentkits and a DVD/CD Receiver with a touchscreenThe 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 dueUnfortunately, we aren’t able to take our reports off of acustomer’s creditWe 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 reportWe have accurately reported the information to the credit bureauso we cannot edit any previous reportsThe 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 merchandiseWe also require customers to paya return fee in order to complete a return, which the customer did not paydespite multiple requests and explanationsOur return policy is explained inItems and of the lease agreementIt explains the minimum lease term andthe termination policyIt 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 wear and tear.” Because this is a lease, the customer is responsible for thenumber of days they have had possession of the merchandiseThis pro-ratedamount is reflected in the return feeWe understand this equation can beconfusing so when customers call in and request a return, we calculate their returnfee for themWe explained this fee to the customer and that the return willnot be valid until the fee and the entire purchase have been receivedCurrently, 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 closedWe can returnthe part of merchandise we have received, but we would hold the customerresponsible for all shipping costs, including insured postWe 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 returnedThe 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 accountIf 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

Ms [redacted] is 13+ months into what was as a 12-month lease purchase agreementWe’ve already extended her agreement by months to lower her payments and given her a two-month hold to help her catch up on her expenses and budgetShe’s struggled to make both the original as well as the adjusted payments (see attached payment history and fee history) and we’ve adjusted payment dates several times upon her requestNonetheless, we’d like to help her meet the terms of her agreement and would like to offer her a buyout settlement payment of $that will allow her to own her merchandise and settle the accountThis amount waives all accrued fees for declined and returned payments as wellSince her last two scheduled payments have been declined by her bank, we need to have this lump sum payment made to us no later than July 14, in order to consider her account settledIf she’d still like to initiate a conversation regarding returning the merchandise and ending her agreement, she can do that by contacting us at (855) 552-However, we cannot begin the return process until the account is current, which requires a payment of $Ending the agreement ends the lease purchase (rental) period, and all lease/rental payments made to that point are non-refundable

Complaint: [redacted] I am rejecting this response because Crest is ruining my credit report by refusing to delete the account after it was paid Sincerely, [redacted]

At Crest Financial, we provide families with no credit needed lease options through selected retail partnershipsAll customers are set up on a month lease with a day buyout option which allows customers to buyout their lease with very limited feesCustomers are notified of their day buyout date in the signed lease agreementWe also remind customers of their day buyout date in the welcome call and the welcome emailWe try to remind customers of their day buyout option any time they call in or chat with customer serviceThe information is also available on our online portalWe cannot and are not obligated to call customers to remind them of this dateThe customer did not even request this service prior to her 90th dayWe offer several remindersIt is a customer responsibility to make a note of that date and make additional payments as needed to pay off their lease ahead of schedule and in time for the day buyout optionWe can often work with customers if they can only a few days after their 90th day, but this customer is now nearly a month outside her daysWe can offer her a different buyout option available to customers who pay off in one final paymentThe customer can make one final payment of $before her next scheduled payment on the 18th, and the account will be closed as paid in full