Crest Financial Services, LLC

Complaint: [redacted] I am rejecting this response because: In regards to the copy of the lease, we never received this document on 3/11/or on 11/15/via emailFurther, that is NOT my signature on the document that has been attached by CrestWhen we were sold the mattress, the terms we agreed to were months of biweekly payments of We were never told anything about a LEASEWe were told we were entering a finance agreement and we never made any payment on 3/11/17, even though this document says we paid We have bank statements to dispute this informationAs far as the phone calls on 3/15/17, we agree that my wife and I were heated and requested a supervisorThe frustration of learning we had been taken advantage of certainly got to usWe apologize for the using a few words that we should not have usedWe take complete responsibility for that part, but that doesn't change the fact that Crest and/or its retailer took unfair advantage of usAs people who have excellent credit, it was very upsetting to learn we have been overcharged for a bed we could have financed in several different ways if we had actually been provided the lease agreement information at the time of saleAgain, we never signed a LEASE agreement and that is not my signature on the documentWe feel strongly that the either the sales rep, Jim, took advantage and illegally signed my name or Crest has put incorrect information on a documentWe are not sure how to proceed, but this is not the deal we agreed to or ever would have agreed to for a simple mattress purchaseAny assistance that can be given to help resolve this matter would be greatly appreciated.Sincerely, [redacted]

Complaint: [redacted] I am rejecting this response because:this was ONLY document I was given when a date on itNothing else was given to meI was told by the store the Crest would handle the rest of the communicationI received a welcom call where I was at work and requested a call back which never happenedI am not unwilling to show the paperwork like they suggestedI requested a supervisor and was told they would call me backThey never didI would have provided the paperwork if they would have done what they told me they would I have also also spoke with Bikeland, and they said that they no longer use crest, because of lack of communication to the customerI was told I was not the only person that this has happened too Sincerely, [redacted] ***

The customer has been making payments since April and received a copy of the lease agreement at the time of signingIf the customer believes their signature was forged on lease agreement, they need to file a police report as they would for other forged documentsThe customer needs to send a copy of a completed police report to our fraud team, who can open an internal fraud investigation

We apologize for the confusion but we’re glad you were able to get an answer to your questionAll of our agents are human beings and sometimes mistakes happenWe 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 futureThanks for bearing with us and being patient and understanding while we make this transitionWe’re glad Kodey was able to get you the right answer!

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 I would like to do the settlement amount as long as I get a letter stating that its paid in full once they receive my last payment Sincerely, [redacted]

We appreciate Ms***'s timely payments over the course of the 12-month rental purchase agreement she signed on November 17, Her final payment of $is scheduled to be drafted from her account as agreed on November 25, 2016, at which time the rental purchase agreement will be
fulfilled and no further payments will be dueA signed copy of the agreement is attached, indicating her agreement upon signature to make an initial payment of $(which is acknowledged on the first page of the attachment) followed by semi-monthly payments of $(the 26th and final payment is actually $as noted previously)The total of the initial payment plus the semi-monthly payments is $1,These calculations are noted prominently on the rental purchase agreement Ms*** signed, and we hope this information clears up any confusion on her part

Ms*** electronically signed the rental purchase agreement on 10/15/16, and a copy is attached for referenceBecause she signed it electronically, a signed copy was emailed to her for her files (***)The transaction is not a loan, and therefore there is no interest involved
There are, however, rental fees which are clearly described in the boxes above her signatureMs*** engaged in a welcome call with one of our customer support representatives on 10/18/at 12:20pmDuring this call, Ms*** acknowledged her understanding of the early ownership option amounts and dates as well as her scheduled monthly payment amountShe also acknowledged that the merchandise was received and in acceptable conditionSection of the agreement, “Early Ownership Options,” explains how Ms*** could own the merchandise prior to the end of the month rental period: (a) “Month Option”: You will own the Property if within months of the Lease Date you have paid us the total of the Initial Payment plus the Cash Price, plus any fees or costs that may have accrued(b) “Early Purchase Option”: Any time after months from the Lease Date you will own the Property when you pay to us, in a lump sum payment, all past due payments and fees and an amount equal to the Cash Price multiplied by a fraction that has as its numerator the number of periodic payments remaining and that has as its denominator the total number of periodic paymentsOption (b) may be what Ms*** refers to as “pro-rating.” According to the notes from our customer support representative during Ms***’s call on 1/31/at 4:21pm, this option was explained to herShe then agreed to pay the outstanding balance due, calculated using the formula in option (b) in a lump sum of $1,by 2/2/

Complaint: ***
I am rejecting this response because: right now I'm not able to pay on this item because my job will be ending in June off this month
Sincerely,
*** ***

Mr*** spoke to a Crest representative on 1/6/and requested payments be set at $weekly in order to take advantage of the 90-day early buyout option on his leaseDuring that call, the representative told Mr*** that payments would need to be $weekly in order to meet the early
buyout date of 3/18/Mr*** declined to set payments for that amountSince Mr*** did not meet the contractual amount to be paid by 3/18/in order to buyout his lease at that time with no further fees added, his payments have now reverted back to $weekly with a final payment due 12/15/His total of payments due between now and that date is $1,plus taxNonetheless, we are willing to offer Mr*** a buyout at this time of $There are two conditions to this offer: 1) the $payment currently processing must clear his bank, and 2) he must make the payment in a lump sum no later than 3/31/He can contact us at (855) 552-during regular business hours and pay this amount

We'd like to reiterate that a copy of the signed lease agreement was emailed to Ms*** at her validated email address at the time it was electronically signed on September 2, The signature page (page 5) of the lease is clearly labeled in bold uppercase text stating that "BY SIGNING THIS LEASE, YOU AGREE THAT (a) YOU READ ALL FIVE PAGES OF IT, (b) YOU UNDERSTAND IT, (c) YOU RECEIVED A COPY OF IT, AND (d) YOU AGREE TO ALL ITS TERMS." In addition to the emailed copy of the signed lease, a copy is also available on the forms tab within the online customer portalMs*** set up her access and reviewed her account page within this portal, making modifications to her payment bank accounts, on November & 10, 2015.That being said, we understand that personal finances can fluctuate and are willing to work with Mr*** to bring his wife's lease agreement currentThe amount to bring the account current is $1,and the account is over days past dueThe recording of Mr***'s inbound call on December 21, was reviewed and that is the amount the customer support representative quoted him during the call.As of today, the amount remaining to be paid on the lease agreement is $2,The account has already been re-aged once at the request of Mr*** (April 2016), so his request for yet another re-aging is beyond a accommodationHowever, in an effort to work with the ***s on getting the account current, we are willing to re-age the account one final timeBecause we haven't received a payment on this account since September 2, 2016, we require a good faith payment of $to be received no later than December 31, in order to re-age the account and set up a new bi-weekly payment schedule for JanuaryIt is up to Mr*** to ensure this payment is received and to contact us to set up the new payment schedule

At Crest Financial, we provide families with no credit
needed lease options through selected retail partnershipsWe do not offer
loans with interest, but rather leases with lease feesWe offer several early
buyout optionsOne of these, our day buyout option, offers significantly
discounted
lease fees to customers who buyout their lease in full within their
first days
We offer several payment methods for customer convenience
Regular payments (monthly, semi-monthly or weekly to coordinate with the
customer’s pay schedule) are scheduled and are automatically drafted for
customer convenienceBecause of the way payments are processed, we begin
processing payments 2-days early so that the payments will be drafted from
the customer’s account on the scheduled dayThis is why we require days’
notice to cancel or modify a paymentPayments may take a few days beyond that
to fully process and confirm as paid
Customers have the option to make payments over the phone or
through our online portalAs we explained to this customer during his call in
December, if customers make payments online with the intention of utilizing our
day buyout option, they need to call in to our customer service team to set
the account up for the buyout option
The customer made a large payment using our online portal to
avoid a phone payment processing feeThe customer made an online payment
several months later and needed to call to let us know he had completed a
payment to take advantage of the day buyout optionThis is explained on our
portal
Now that the payment
has fully cleared, we have initiated a refund of $This refund may take
several days to process and show up in the customer’s bank account

Complaint: ***
I am rejecting this response because:
Sincerely,
*** *** this merchandise is falling apart and this furniture is not what you pay for it I want pay this off and its tore up when I finish paying for it

At Crest Financial, we provide families with no credit
needed financing through selected retail partnershipsWe do this by offering
leases on merchandise available in local retail storesAt the point of
purchase, customers sign a lease agreement which explains all the terms of the
lease
including the total leasing fees
We have included a copy of the customer’s lease agreement
Item explains, “In addition to the Initial Payment, you must renew this Lease
by tendering BiWeekly payments of $*** for a Total Cost of $***…The
Total Cost is $*** more than the Cash Price.”
We provide this lease agreement to customers at the time of
signingIt is the customer’s responsibility to read the lease agreement prior
to signingWe cannot adjust the lease agreement as it was signed by the
customer
We do offer an early buyout option to customers who buy out
their lease in one final payment before the end of the lease termIf the
customer makes one final payment of $*** before January 15, 2016, the
account will be closed as paid in full

At Crest Financial, we provide families with No Credit
Needed financing through selected retail partnershipsWe do this by purchasing
the merchandise from the retailers and then leasing it to the customer so they
can make payments over timeBecause this is a lease, customers are
responsible
for the merchandise for the amount of time they own itThis includes ensuring
the merchandise is returned to us according to the instructions we provide.Items and of the lease agreement signed by all customers
explains our return policyItem says, “You may end this Lease at any time
without penalty by returning the property to us in accordance with the
directions we give you and paying us due payments, minimum lease term payments
unpaid costs, fees or charges and any damage to the rental property excepting
wear and tear.” When possible, we work with consignment stores to pick
up returned merchandise, but consignment stores will not accept used tiresBecause
of the nature of the merchandise, the only option for returning the merchandise
is by mailing it directly to the Crest Financial Warehouse at W South,
Draper, UT 84123.In addition to returning the merchandise, the customer must
pay any unpaid costs for the amount of time they have had the merchandiseThe
unpaid costs reflect a daily pro-rated amount for each day the customer has had
the merchandise MINUS any payments already madeThe customer has had the
merchandise for days and has paid a total of $***The total unpaid costs, fees and other charges that must be paid in
order to return the merchandise are $***That is the amount the customer
must pay to initiate a returnThis amount includes a daily prorated amount
so the total return amount will increase each day until the payment is made and
the merchandise is shipped.There is a more
affordable option we can offer the customer as a courtesyThe customer can
keep the tires and take advantage of an early buyout optionWe are willing to
offer the customer 50% off the remaining balance on the account and spread that
discount over the next monthsThe
customer would only need to pay $***, in installments, by February 23,
He could then keep the tires and the account would be listed as paid offWe have attached a copy of the customer’s signed lease
agreement for referencePlease not sections and If the customer would
like to take advantage of the early buyout option explained above, the customer
needs to contact our customer service team to set up a payment installment
schedule by the end of the month

Mr*** executed his agreement electronically, which means he had the opportunity to scroll through and read the agreement before signingThen, upon signing electronically, he received a full signed copy of the agreement to his personal email (***)Crest Financial does not conduct lending or financing transactionsWe do, however, conduct leasing transactions via rental purchase agreementsOur agreements offer two early ownership options, which are described in Section of the agreement attached previously: (A) "Day Option": You will own the Property if within days of delivery of the Property you have paid us the total of the Initial Payment plus the Cash Price, plus any fees or costs that may have accrued(B) "Early Purchase Option": Any time after days from delivery of the Property 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 accruedIt seems as though Mr*** may be frustrated that he missed the date to take advantage of the Day Option, which was 1/9/To address this concern, we’re willing to offer him a deeply discounted early buyout of $versus his current remaining balance of $1,He will have until 3/4/to make this lump sum payment, which he may do by calling during business hours at (855) 552-or via the online portal at any timeWe hope this information and offer is helpful to Mr***, and we look forward to working with him on resolution

After
reviewing recorded calls received from Mrs*** on 1/25/17, we understand her position is based in her belief that the scheduled payment on 9/25/cleared her bank and therefore her Crest Financial account should have been paid in full after the scheduled payment on 10/20/However, our system shows the 9/25/payment did not clear the customer’s financial institution and was returned to us unpaidIf Mrs*** can provide documentation from her bank showing the 9/25/payment cleared, we are happy to recognize that mistake and adjust/credit the ***’s account balance with Crest Financial accordinglyWe have spent the past four days thoroughly investigating this accountHere are the facts in addition to the detail and supporting documentation provided in our initial response: 1. Welcome call with *** *** on 7/27/at 10:26am to set up three payments of $on 8/25/16, 9/25/16, and 10/20/and confirming bank account Bank of America (ending in ***)Added wife as authorized userSOURCE: recorded call, data system 2. First scheduled payment processed on 8/25/from Bank of America (ending in ***) and cleared on 8/31/SOURCE: data system, merchant processing service 3. Customer used online portal on 9/23/at 9:am MT to add new bank account: Founders Federal Credit Union (ending in ***) and made it the default payment methodSOURCE: data system 4. Second scheduled payment processed on 9/25/from Founders Federal Credit Union (ending in ***)SOURCE: data system 5. Second scheduled payment was returned unpaid on 9/30/from Founders Federal Credit Union (ending in ***) at 7:am MTSOURCE: data system, merchant processing service 6. Returned payment fee of $assessed 9/30/SOURCE: data system 7. Attempted call to customer on 9/30/at 11:06am MT; no answer. SOURCE: data system 8. Per agreement (sections & 10), payment via customer authorized back up source (Master Card ending in ***) attempted at 12:41pm MT; payment declinedSOURCE: data system, merchant processing service 9. Third scheduled payment processed on 10/20/from Bank of America (ending in ***) and cleared on 10/27/SOURCE: data system, merchant processing service 10. Calls attempted in effort to contact customer between 10/3/and 1/25/SOURCE: data system 11. messages left on customer voice mail between 10/3/and 1/25/(10/at 1:06pm, 10/at 2:21pm, 10/at 11:57am, 11/2/ at 9:27am, 11/at 2:13pm, 11/at 3:08pm, 11/at 11:55am, 11/at 10:36am, 11/at 2:46pm, 11/at 4:39pm, 12/at 9:59am, 12/at 5:58pm, 12/at 8:00am, 1/at 8:30am, 1/at 11:59am, 1/at 9:37am, 1/at 6:53pm, 1/at 8:46am, 1/at 8:38am)SOURCE: data system 12. Monthly scheduled payments of $were reinstated as of 12/21/per signed agreementSOURCE: data system 13. Monthly scheduled payment of $drafted on 12/25/and cleared 12/31/from Founders Federal Credit Union (ending in ***) at 7:am MTSOURCE: data system, merchant processing serviceSOURCE: data system 14. Monthly scheduled payment of $drafted on 1/25/and cleared 2/1/from Founders Federal Credit Union (ending in ***) at 7:am MTSOURCE: data system, merchant processing service 15. Three calls from customer received 1/25/(10:16am, 10:57am, and 2:15pm)SOURCE: data system 16. Customer used online portal on 1/25/at 11:am MT to change default payment account from Founders Federal Credit Union (ending in ***) to Bank of America (ending in ***)SOURCE: data system 17. Emails received from customer on 1/25/and 1/27/17; responses sent back to customer same daysSOURCE: data system 18. calls attempted in effort to contact customer between 1/27/and 2/17/SOURCE: data system 19. messages left on customer voice mail between 1/27/and 2/17/(1/at 8:25am, 2/at 9:07am, 2/at 8:11am, 2/at 1:59pm, 2/at 8:51am, 2/at 8:18am)SOURCE: data system 20. Revdex.com complaint received 2/10/SOURCE: data system 21. Next scheduled monthly payment due 2/25/from default payment account Bank of America (ending in ***)SOURCE: data system

We spoke to Mr*** today (1/24/17), reached an amicable settlement, and his account is now paid in full

At Crest Financial, we provide families with no credit needed leasing options through selected retail partnershipsCustomers select the merchandise from a locally-owned store, Crest Financial pays the retailer for the merchandise and the customer signs a lease agreement for a month lease with
early buyout optionsAll of our advertising tries to be clear about that fact and we offer training to all of our third-party retail partners that explains the distinctionOur lease agreement also makes the payments very clear and includes a box on the first page titled “Total of Payments” with the full cost of the leaseAll of the customer’s confusion was answered on the first page of the lease agreement, above the signature lineWe have included a copy of the lease agreement for referenceAs of the customer’s payment on the 14th, she has paid $***The cash price of the merchandise was $***Ms*** has now had possession of the merchandise for more than months, making only the minimum scheduled paymentsThe customer did not take advantage of the day buyout option and so the only customer is now responsible for the full lease terms, including all lease feesWe can offer the customer another early buyout optionThe customer can buy out her lease by making one final payment of $*** before her next scheduled payment on March After that payment, the account would be marked as Paid in FullThe buyout option is explained in Item of the lease agreement and is based on a percentage of the remaining amount due on the lease so the buyout amount will change when that payment is processed

Complaint: ***
I am rejecting this response because: CREST FINANCIAL SERVICES did not provide me upon signing the loan on October written disclosures about their lending or financing terms after days period called (same as cash) which means “NOT given disclosures, it is in violation of the Truth in Lending Act and I have the right for legal complaint
Sincerely,
*** ***

We record all calls and log all customer interactions with notes and descriptions of the interaction, and at this time have completed a comprehensive investigation into Mr***’s account with usThe findings of this investigation are outlined belowHis lease agreement and payment history are
attached for reference1. Mr*** received validation and other transactional communication from us via SMS text message to the cell phone number we have on his account, which is the number he includes on this complaint (###-###-####)2. Mr*** received transactional communication, including secure electronic signing of his lease agreement, via email to the address we have on his account, which is the one he includes on this complaint (***) 3. On 6/30/17, we received our first two inbound calls from Mr*** since the inception of his lease in March During his conversation with a supervisor on the second call, he indicated he didn’t believe it was his signature on the lease agreementAfter the supervisor explained it was e-signed and validated via his personal email address, he said he understood and was not claiming fraudHe did indicate he wasn’t satisfied with the terms of the agreement when his early buyout amount was quoted to be $2,because his 90-day buyout option had expired 6/6/(note: this is not “days same as cash”)He was told his next scheduled bi-weekly payment of $was scheduled for 7/4/and that he has currently paid $1,against the total note of 4,4. We received the next inbound call on 7/3/from Mr*** again asking about early buyout and balance of noteConfirmed amounts and ended the call5. Mr***’s scheduled payment on 7/4/was declined by his credit cardHis next two scheduled bi-weekly payments for 7/18/and 8/1/($each) were also declined by his credit card6. Between 7/5/and 8/3/17, we made over attempts to reach Mr*** about his bounced paymentsHe did not answer any of the calls7. On 8/3/17, we received the next inbound call from Mr***During this call he stated he’s claiming fraud and had been waiting to be contacted by our fraud departmentHe also restated that he didn’t sign the lease, however has the merchandise in his possessionThe representative referred Mr***’s account to a supervisor for a return call8. Later on 8/3/via calls to Mr*** by two separate representatives, he was informed that his claim of fraud (stating it wasn’t his signature on the lease agreement) would be investigated9. On 8/4/17, our fraud department sent Mr*** an email denying his fraud claim due to the validation of his signature via SMS text message to his cell phone and email address (both of which he also includes as current contact information on this complaint)10. Since 8/4/17, we’ve made attempts to reach Mr*** with no successDue to the three consecutive scheduled payments being declined by his credit card, we have removed automatic payments from his account to minimize accrual of returned payment feesAs of today, his account is past due in the amount of $546.99, plus $in returned payment feesIn order to bring his account current and avoid further collection activity, he will need to make a payment of $That amount will continue to increase as payments are avoided by Mr***He will need to reschedule regular bi-weekly payments, or we are happy to discuss early buyout options at a reduced amount and could potentially waive fees as a courtesyHowever, we need to speak with Mr*** to help reach a solutionHe may contact us during regular business hours at ###-###-####