Economic Advantages Corporation

Review: Economic Advantages Corporation (EAC) accessed my checking account with a zero-dollar transaction on Tuesday, September *, 2013. I had never heard of EAC. To my knowledge, I have not signed any agreement or contract specifically stating that EAC would be involved in the financing of my newly delivered car. I called the 1-800 number listed on the transaction. When the telephone representative answered and asked for an account number, I told her that I didn't have an account number but that I did have a couple questions. I explained that there is a transaction against my checking account but that I'd never heard of EAC. I asked if she would tell me a little about what EAC does and why they might be contacting me. She said that EAC is a "financial services company". I replied that the financial services industry is quite large and encompasses many types of business and could she be more specific. The representative only repeated herself saying that EAC is a "financial services company". The rep. asked for my account information again. I told her I don't have an account. She asked for my social security number, which is an inappropriate question given the circumstances. I stated that I would not give that information out over the phone. The rep. said she had "to access the account somehow", which is rude given the tone of her voice and my continued ignorance of what EAC does. She asked for my name, which I gave her, and she was able to access the account I appear to have with EAC. Why would she ask for my social security number, if my name--a much less sensitive piece of information--clearly sufficed? The representative then read out my address and the reason for the account, biweekly payment on an auto loan, despite my inability to provide an account number and my unwillingness to provide my social security number. The address and account information fall within my definition of personal information and I do not believe they should have been read over the phone. My bank will not do that; it's against their policies. The bank that holds the related car title; it's against their policies. Neither my insurance agent nor my broker will do that; it's against their policies. Finally, when I reiterated that I'd never heard of EAC, the rep. checked when the written notification and account information were sent to me. The documents had only been sent that morning, Tuesday, September *, 2013. Two days later, I still have not received any documents. Additionally, I have never received a call from EAC informing me of the establishment of an account. This is very poor customer service. I refuse to conduct business with a company that 1) accesses accounts prior to providing written or verbal notification and 2) employs such poorly trained and rude representatives.Desired Settlement: I am to be released from any contract or agreement I may or may not have entered into with Economic Advantages Corporation immediately and without penalty. I would also like a short letter of apology that includes a list of all of the "financial services" that EAC engages in, listed by the services' codes in the 2012 North American Industry Classification System. Further, I suggest that EAC ensures that its customers have received official notification prior to any business being conducted against the customers' accounts.

Consumer

Response:

[redacted]:

In reference to complaint ID [redacted], the matter has been resolved.

After receiving account documents from EAC, I was able to cancel my account over the phone at roughly 4:50 p.m. on Tuesday, September **, 2013. The customer service representative sent a confirmation email.

Sincerely,

Review: Economic Advantages Corp. misrepresentation and non payment of bill. This company claims to make payment on your account and does not. They stated that they would make it possible to payoff auto loan and they do not make payment on schedule. They have hidden fees and I would not recommend anyone doing business with this organization.Desired Settlement: I would like all of my funds returned to me that have not been utilized on my car loan.

Business

Response:

The [redacted] enrolled into our Bi-Auto PriorityPay program when they purchased their new car. Economic Advantages Corporation made payments to their lender on their behalf within the allowable grace period, as agreed upon in their Enrollment and Authorization Form. [redacted] has decided that they would prefer to make their own payments directly to their lender. We have refunded the application fee collected to date and [redacted] has stated that she will revoke her complaint.

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me and the matter has been resolved.

Sincerely,