Crest Financial Services, LLC

This error in processing sales tax was due to an error in processing the paperwork at the time we were implementing a change to the way we charge sales taxWe were switching from charging sales tax at the initiation of the lease to charging sales tax on each paymentBecause of a delay in processing paperwork, the customer was set up on a payment plan with sales tax although he had already paid it before the start of the leaseWe apologize for the error and have initiated a refund for the sales tax amount

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, Chante J [redacted] Read More Customer Complaints: $(function () { $('.complaint-block a[data-toggle=collapse]').click(function () { $(this).text($(this).text() == $(this).attr('data-close-text') ? $(this).attr('data-open-text') : $(this).attr('data-close-text')); }); $('.complaint-block .collapse').collapse({ toggle: }); $.each($('.complaint-block a[data-toggle=collapse]'), function (index, value) { $(value).text($(value).attr('data-close-text')); }) });

Mr [redacted] entered into a lease with Crest Financial on 8/7/A signed copy of that lease plus signed copy of the receipt of goods form are attachedMr [redacted] provided us with bank account information for automatic drafting of scheduled payments ($monthly), however the first two payments were returned to us unpaid by his bank and that bank account was subsequently closed by Mr [redacted] We attempted to contact Mr [redacted] numerous times after that with no response, and eventually charged off the accountThe credit reporting is therefore accurateThe lease agreement clearly states that the lease transaction is between Mr [redacted] and Crest Financial, and payments were to be made to Crest FinancialIf the retailer accepted payments from Mr [redacted] on this account, Mr [redacted] should file a police report and pursue a fraud claim against the retailerAs of this date, the balance owed on Mr [redacted] ’s account with Crest Financial is $2,Malano Furniture is still in operation, contrary to Mr [redacted] ’s assertion that it is no longer in businessThe business appears to have relocated since the time of our lease transaction, however, and is now at NState Road 7, Lauderhill FL We hope this information is helpful to Mr [redacted]

We apologize for the delay and problems in processing Mr [redacted] 's refundIt was processed June 1, and is now in his account

Complaint: [redacted] I am rejecting this response because: I received voice messages on my son"s phone(13yrs old)Civil is my demeanor until rudest and disrespects presented by the company representativeI asked in May for clarification on the price change I was told that was my problem and when will I be make a paymentHarlem furniture conducted this applicationI have sign agreement from them and was mailed Crest policyI was told ! was accepted for dollarsI work for 4pm to 12AM with I am unable to debate at those hour ture Sincerely, [redacted]

We have executed the return transaction on Ms [redacted] 's account and the lease is now closed

We understand the customer’s frustration and we are working to resolve the problem with our automated credit reportingIn the interim, as a customer service, we are manually reporting to the credit bureau Equifax, on behalf of customers who request this manual reportingWhen we report credit manually, we submit these reports through a third party service that “translates” the information we provide into a format that the Equifax processors understandThe process takes approximately days to translate updates to reports that had been created using our automated systemWe recently discovered that this translation service takes longer to report leases for the first time as they have to create the initial report which requires more informationWe have found this process takes closer to daysThis time frame is beyond our controlWe have already reported the information as far as we are able toOnce our automatic reporting system is operational (which we anticipate within the next few weeks), we will re-report the lease to make sure the information is provided to Equifax as timely as possibleAs a disclaimer, none of our agents are credit counselors and we cannot provide any information on how to improve a customer’s creditWe have reported payment and lease information to Equifax, but we cannot guarantee what impact this will have on a customer’s credit, or that it will appear at allOnce we report, those decisions are out of our hands

When Ms [redacted] initiated her lease with Crest Financial on August 12, 2016, she agreed to make weekly payments totaling $2,over the course of the 12-month leaseThe lease agreement (attached for reference, along with Ms***’s signature page) clearly states in the “total of payments” box that she would be able to “buy the property for less using an Early Ownership Option.” Neither this agreement nor any promotional materials supporting our program refer to a “days same as cash” optionSection of the lease agreement defines both the “Day Option” as well as the “Early Purchase Option” along with amounts and additional feesMs [redacted] indicates that she was unable to take advantage of the “Day Option,” which she correctly identifies as having expired on November 10, The next communication we had with Ms [redacted] was on January 2, with regard to a scheduled payment on December 22, that was returned to us unpaid by her bankDuring that call, she committed to make the missed payment on January 5, She was also notified of her total balance due of $1,(which includes the lease fees identified in the “cost of rental” box on the lease agreement) as well as the Early Purchase Option of $1,that she could take advantage of now that the Day Option has expiredMs [redacted] ended that call by yelling at our phone support representative and then abruptly hanging up, so we’re unclear as to her intentions moving forwardMs***’s requested settlement in this complaint is to “pay what is owed as of today,” and that amount is the Early Purchase Option of $1,She may also continue to make her regularly scheduled weekly payments of $(plus tax) until the lease is completed on August 17,

Complaint: [redacted] I am rejecting this response because: Sincerely, [redacted] Bottom line is that the process shouldn't have been so miraerable The service is horrible The question had nothing to do with anything This is unacceptable and upon further researching of the companies reputation it is apparent that this company has a large dislike for there serviceI'm just stating facts and I don't care for any response from the company I just want this document for others to see

At Crest Financial, we provide families with no credit needed lease options through selected retail partnershipsThe customer selects the merchandise from a local, privately-owner storeCrest pays the retailer for the merchandise and the customer leases the merchandise from Crest, making regular payments to own the merchandiseBecause we offer leases rather than loans, we own the merchandiseThe customer must make regular payments in order to maintain possession of the merchandiseThe customer is responsible for making payments for the amount of time they have had the merchandiseWhen a customer falls past due, they are still responsible for making those payments and must pay them before we can execute a returnIn order to return items, customers must pay for the number of days they have had possession of the merchandiseThe entire returns policy is explained in Item of the lease agreementCurrently, the customer’s return amount is $This is the amount the customer would need to pay in order to return his merchandise through CrestThis amount is pro-rated per day until the payment is received, so the amount will increase slightly until then, or until another payment is madeItem of the lease agreement also explains that we cannot accept returns on damaged merchandiseIf the merchandise is damaged, the customer is responsible for the full amount and terms of the leas as explained in Item and in the boxes just above the signature line on the second pageThe customer has mentioned in previous phone calls with our customer service team that the merchandise is damagedIf that is the case we will be unable to execute any return

This problem may have stemmed from a misunderstanding about biweekly versus semi-monthly paymentsBi-weekly payments are set up every other week, on the same day of the week (every other Friday)Semi-monthly payments are set up twice a month on the same day every month (the 5th and the 19th)When payments are made bi-weekly, there may be payments in a month, depending on how the dates fall within the month (for instance, there are Fridays this month, so payments might be scheduled for the 2nd, 16th and 30th)The payments are slightly smaller to accommodate those additional paymentsAt her request, Ms [redacted] is set up on bi-weekly payments, so we processed payments on the 3rd, the 17th and the 31st of JulyThe payment on the 3rd returned unpaid, so we processed a mapayment on the 13th insteadThe customer is currently past due because her payment on August returned unpaidMs [redacted] will need to make up that payment to get her account current before we can make any changes to her payment scheduleWe received her faxed bank statements showing those payments; however, they were still listed as “processing” on the statementIf Ms [redacted] can provide updated bank statements showing shows returned payments as fully processed, we will, of course, investigate the problem between us and her bankAll of the information the customer is requesting can be viewed in our online portalIf she believes there are problems with that information, our support team would be happy to investigate or explain via phone call or online chatWe do require that payments be scheduled either from a bank account or a credit cardScheduling those payments does require some processing time, so we can’t cancel or change payments with less than days’ noticeHowever, Ms [redacted] can call more than days before her scheduled payment and make alternate arrangementsWe just have to keep the scheduled payment in our system as a contingency and to abide by our lease agreement

Retailers will often offer several financing optionsThere sales associates may get confused about which financier offers which benefits Other times they will talk to a customer about one financing option, then the customer is approved through a different companyBecause we don’t have a representative on site, we cannot guarantee that the sales representatives properly explain our leases to the customersThat is why we encourage customers to read their lease agreements before signing and put the most important information in larger print on the first page Item of your lease agreement explains, “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.” Because this is a lease and not a loan, there is no interest on the accountWe do charge financing fees, but our day buy out option can significantly reduce those feesThe fees are added at the beginning of the account and are not based on the balance after days The $you mentioned being added to your balance might have resulted from the two bounced payments on your account and the resulting $ Insufficient Funds Fees (NSFs)This would make your account balance $ [redacted] higher than anticipatedThe finance fees would show up on your balance after your 90th day We do offer another discount for customers after their 90th dayThis discount is unique to each account but does require that the account be paid off in one final paymentThis discount is explained in Item of your lease agreementThis discount is based on a percentage of your remaining balanceIn your case, you discounted amount is $ [redacted] , but this amount will change after your next automatic payment scheduled on May 5, The customer service representative you spoke to offered to allow you to break this final payment into two paymentsWe will honor this agreement provided both of the payments are made before your next scheduled payment on May If you would like another copy of your lease agreement, we would be happy to provide one or you can contact customer service to request a copy of the lease agreementPlease let us know if there is any way we can be of further assistance

Complaint: [redacted] I am rejecting this response because:This is not the original agreement that was signedThe agreement that I signed had a breakdown of how long I had to pay off the furnitureThis is not the original document that I signedTherefore the debt is not validThe furniture was that much money and you guys are trying to collect for something that was paid off within the first daysTherefore when you guys drafted my account twice, I had my bank return the funds as I had already paid the account offWhen your company attempted a third time and I called your office and spoke with a rep by the name of Charlie or Charlene, I asked her why were they attempting to draft my account when the furniture was paid off within the first days of receiving the merchandise? The rep couldn't explain to me whyI then decided to drive to the place where I purchased the furniture from and that's when I found out the place was closed down and there was no indication that the company relocatedThe number I called the rep at was 855-552-Your company is a predatory lending company that is currently facing a class action lawsuit for the same reasons as I am complainingOver people have paid this company only to have the account reported to the credit bureau after the account has been paid offYour company is clearly upset that I paid the account off within the first days and you couldn't charges me three times what the furniture is worthI paid this account off prior to my first paymentI have faxed in and emailed proof back in and yet and still this remains on my creditPlease check into this and stop posting a mere portion of the contractPull up the recordings where I called inNot to mention that no one has once called, sent letters, or reached out to me until nowSince I sent a complaint to the Revdex.com, now your company wants to reach out to meI have spoken with several reps and have always wrote their names downI spoke with a Tony, Carla, Thomas, and PaulAll requested the same documentation that I emailed and faxed way back in I will be fighting this to the end and I will make sure that I get the word out about this company Sincerely, [redacted]

We're sorry, but we're unable to locate this account in our system based on the identity information listed in this complaintPlease provide a lease or account number or the current/correct name of the individual who is the account owner and we'll be happy to work toward a resolution

Ms [redacted] has had the furniture in her possession for over a year, and her rental purchase agreement (section 3) states her responsibility for "maintaining the property in its original condition, wear and tear excepted." She's contacted us numerous times stating she couldn't afford the payments, asking about ending the agreement and returning the merchandise, and then not following through on those optionsAt this time, the options available to her are the ones stated previouslyWe would be happy to help her reach a solution if she contacts us at (855) 552-

Complaint: [redacted] I am rejecting this response because:I entered this contract based on the plain language contained within Paragraph 6B clearly states: ""...you will own the Property when you pay to us, in a lump sum payment, 65% of the Total of Payments less the payments you have already made, plus applicable fees and costs that may have accrued." No where I that statement does it mention 65% of 'the balance' , or 65% of 'what is left' Both plain english reading of the sentence, and mathematical reading of the sentence arrives at the same conclusion= 65% of (total of payments - ToP) - (payments already made - PaM), or; , x ToP - PaM, (as written in the sentence, complete with commas) Grade school math order is "Please excuse My Dear Aunt Sally", or 'parentheses, Exponents, multiplication, division, addition, subtraction', in that order Thus, you would solve it this way: (x ToP) - PaM Then the next sentence of 'plus applicable fees.' of course For Crest to interpret this statement any other way is misleading at best, and fraudulent at worst I have called Crest several times to resolve this issue and offer a payoff to close the contract under the terms they wrote in the contract to no avail and consider them in breach of the same I would be happy to resolve this issue, as long as the terms of the contract are followed Sincerely, [redacted]

E-signatures are a legally binding form of signatureIf the customer believes the lease agreement was signed fraudulently, they need to file a police report with their local police departmentThe customer must then send the report into our fraud department so they can open an internal investigation [redacted] is one of our largest retailers and we don’t have any reports of problems from other customers, but we will investigate the situation once the customer has provided that police reportThe customer does need to keep their account current in order to expedite the investigation processWe will continue to operate under the terms of the signed lease agreement until we can definitively prove it was signed fraudulentlyThe customer needs to do the sameWe will do our best to make the situation right after the fact if the account is proven fraudulent

Complaint: [redacted] I am rejecting this response because: Sincerely, [redacted] first of all the couch was not new as stated the bottom cover was torn,it had a one inch cut under the armrest.I discover it while wiping it down, the legs was not assemble right, the leather(set) did not match.$is to much to pay for used furniture

We apologize for the frustration Mr [redacted] is experiencing in not seeing his Crest Financial account reflected on his credit reportAlthough we report to the Equifax credit bureau on the 5th of each month, we cannot control how the credit bureau processes the reporting we provideWe sent a manual report on Mr***’s account to Equifax today (2/27/17) showing that it’s paid in fullThere is also a paid in full letter attached to this complaint that Mr [redacted] can provide to Equifax as well

As we have explained to the customer before, we are not responsible for what appears on a customer’s credit reportWe report information accurately to the credit bureau Equifax through a third-party “translation” service that turns our information into a format understandable by Equifax’s processing systemBeyond that, there is nothing we can do to change or alter the reportWe are not responsible for the information that Equifax chooses to include or update on a reportThis account is under review by our management team to ensure that all payments have been reported properlyThis is all we are able to do