Elderlife Financial Services, LLC

[A default letter is provided here which indicates your acceptance of the business's response If you wish, you may update it before sending it.] 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 also like to state I contacted the number provided (###-###-####)in an attempt to speak with Joe who did leave me a voicemailI tried on several different days and his line went to a voicemail which was fullI was unable to leave a message Regards, [redacted] ***

Dear Revdex.com Representative, We are in receipt of your letter dated February 10, 2015, regarding complaint ID Number [redacted] .We have had numerous conversations regarding payoff of this loan, and final balance differentialsThe conversations began when a title company purportedly mailed a check for loan payoff, but was never receivedA new check was issued, and thus a new payoff quote was issued which included accrued interest since the last quote, and an additional loan advance which was taken in between the first payoff quote.There have been several exchanges, as referenced in the complaint, as to how the payoff figure was calculated, a disbursement history was provided, and written and verbal explanations regarding interest due were providedIn no manner has Elderlife credited the consumer $1,for “troubles so far”, as there have been no issues which would merit a credit for “trouble” in the payoff processThis is our standard process we have used for thousands of loan payoffsAn unrelated fee refund ($500) was credited to the account as mandated by an Ohio regulator (esoteric Ohio lending regulations), but it was not $1,000, and was no for any inconveniences in the process.In review of the assertion, it appears the basis of the contention surrounds origination fee and interest charges associated with the loanThe origination fees were disclosed during the application phone call on 2/17/14, and in writing on closing documents dated 2/21/There is still a principal balance remaining unpaid as well, upon which interest is continuing to accrue.The borrower re-affirms there is a debt to be re-paid, but has not made a payment in almost days, while being in contact with our firmWe are hoping to bring this matter to a swift resolution, but are confident we have supplied the information requested, have supported and documented the transactions behind the payoff demand, and have treated our customer fairly and honestly, as we have thousands of other families in our recent history.As of the date of this letter we have attempted again to contact the borrowers to try to resolve this matter, but were not able to connect.Best Regards,Ken SullivanChief Lending OfficerElderlife Financial Services

Re: Revdex.com Consumer Complaint # [redacted] Dear Revdex.com RepresentativeElderlife Financial Services, LLC (“Elderlife”) is in receipt of your additional correspondence regarding complaint # [redacted] On 5/23/17, Elderlife contacted the customer to discuss the issue mentioned in the complaintThe issue has been resolved as follows: Elderlife has confirmed the customer had appropriately requested a refundWe spoke with the customer regarding final resolution, and have issued a refund in the amount of $161.66, which was sent via FedEx on 5/23/17.The customer expressed satisfaction with this resolutionPlease let us know if you need anything further.Sincerely,Joe G

We are in receipt of your letter dated April 6, 2015, regarding complaint ID Number ***.On 2/18/Elderlife was alerted the consumer wished to payoff the loan.Elderlife worked with its contracted servicer regarding an accounting reconciliation on this account due to a recent payment
we were waiting to clear.Once the item cleared, a payoff was issued , and the payoff was issued due and payable in days, with a per diem clearly stated, should the payoff take longer.Customarily, our payoffs are issued to be paid in either or days, contingent on the consumer’s requestIt is atypical a day payoff is issued, and the day the conversation took place, it may have been confused with when the next payment was due.The consumer paid no interest beyond the time the capital was outstanding, no late fees, and the account has been satisfactorily closed.Elderlife is proud to have provided financing to almost 4,consumers, and complimentary services to thousands moreWe are very conscious we are serving seniors and their families, and are very diligent in ensuring we cause no undue stress in providing our services.Best Regards,
Ken S*Chief Lending OfficerEiderlife Financial ServicesC}ffice ###-###-####

Complaint: ***
I am rejecting this response because:I did not reply indicating that this was handled to my satisfaction because it is completed as of yet I received a phone call with promises, but have not yet received the promised refund for overcharging of interest.
Regards,
*** ***

June 27, 2017Revdex.com K Street NW, 10th Floor Washington DC 20005-3404Re: Revdex.com Consumer Complaint # ***Dear Revdex.com Representative,Elderlife Financial Services, LLC (“Elderlife”) is in receipt of your letter regarding complaint #***.Elderlife is a financing
company that bridges financial gaps, allowing seniors and their families access to and pay for care by providing immediate fundingDepending on the state, Elderlife charges interest that accrues over time, based on the amount of money actually borrowed, and is collected at loan payoffThis is a benefit to families, because it means they only pay interest on the amount of the loan they borrow and use for careThe interest rates are disclosed in the loan documents.When the consumer is ready to pay off the loan, they must call Elderlife to receive an accurate payoff statement, which includes both the loan principal balance and all accrued interestOn 4/20/17, Elderlife received a payment in the amount of $13,217.53, which was applied towards the loan principalWhen the payoff was requested on 6/05/from the consumer, Elderlife then calculated the final amount dueAt that time, it was determined the accrued interest due was $825.94.Although there is currently an outstanding balance on the loan of $Elderlife has waived this amount and has closed out the consumer’s accountNo further monies are dueWe have reached out to the consumer to apologize for the misunderstanding regarding the process for determining the final amount due, and to inform the consumer that the amount due has been waivedAs of 6/27/2017, we have not had a response.Elderlife is proud to have provided financing to thousands of customers and complimentary services to thousands moreWe are very conscious of the fact that we are serving seniors and their families and are very diligent in ensuring we treat them fairly and cause no undue stress in providing our services.Please let us know if you need anything further.Sincerely,Joe G

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
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 also like to state I contacted the number provided (###-###-####)in an attempt to speak with Joe who did leave me a voicemail. I tried on several different days and his line went to a voicemail which was full. I was unable to leave a message.
Regards,
[redacted]

Dear Revdex.com Representative, We are in receipt of your letter dated February 10, 2015, regarding complaint ID Number [redacted].We have had numerous conversations regarding payoff of this loan, and final balance differentials. The conversations began when a title company purportedly...

mailed a check for loan payoff, but was never received. A new check was issued, and thus a new payoff quote was issued which included accrued interest since the last quote, and an additional loan advance which was taken in between the first payoff quote.There have been several exchanges, as referenced in the complaint, as to how the payoff figure was calculated, a disbursement history was provided, and written and verbal explanations regarding interest due were provided. In no manner has Elderlife credited the consumer $1,000 for “troubles so far”, as there have been no issues which would merit a credit for “trouble” in the payoff process. This is our standard process we have used for thousands of loan payoffs. An unrelated fee refund ($500) was credited to the account as mandated by an Ohio regulator (esoteric Ohio lending regulations), but it was not $1,000, and was no for any inconveniences in the process.In review of the assertion, it appears the basis of the contention surrounds origination fee and interest charges associated with the loan. The origination fees were disclosed during the application phone call on 2/17/14, and in writing on closing documents dated 2/21/14. There is still a principal balance remaining unpaid as well, upon which interest is continuing to accrue.The borrower re-affirms there is a debt to be re-paid, but has not made a payment in almost 60 days, while being in contact with our firm. We are hoping to bring this matter to a swift resolution, but are confident we have supplied the information requested, have supported and documented the transactions behind the payoff demand, and have treated our customer fairly and honestly, as we have thousands of other families in our recent history.As of the date of this letter we have attempted again to contact the borrowers to try to resolve this matter, but were not able to connect.Best Regards,Ken SullivanChief Lending OfficerElderlife Financial Services

Re: Revdex.com Consumer Complaint #[redacted]Dear Revdex.com RepresentativeElderlife Financial Services, LLC (“Elderlife”) is in receipt of your additional correspondence regarding complaint #[redacted]. On 5/23/17, Elderlife contacted the customer to discuss the issue mentioned in the complaint. The issue has been resolved as follows: Elderlife has confirmed the customer had appropriately requested a refund. We spoke with the customer regarding final resolution, and have issued a refund in the amount of $161.66, which was sent via FedEx on 5/23/17.The customer expressed satisfaction with this resolution. Please let us know if you need anything further.Sincerely,Joe G

Re: Revdex.com Consumer Complaint #[redacted]Dear Revdex.com RepresentativeElderlife Financial Services, LLC (“Elderlife”) is in receipt of your letter regarding complaint #[redacted]. On 5/3/17, Elderlife contacted the complainant to discuss the payoff process issues mentioned in the...

original complaint. The issue has been successfully resolved as follows: Elderlife has confirmed the consumer had requested their payoff consistent with the complaint. After further research, we find the situation was isolated. We have spoken with the consumer detailing the resolution made on the account, which includes meeting the request to finalize the payoff amount as of the initial request date (3/28/17).The consumer expressed satisfaction with the speed and thoroughness of the resolution, and stated this positively changed their final feelings about doing business with Elderlife. There was definitively an error on our part (through our third party loan servicer), but this isolated incident has been resolved favorably. Elderlife is proud to have provided financing to thousands of customers and complimentary services to thousands more. We are very conscious of the fact that we are serving seniors and their families and are very diligent in ensuring we cause no undue stress in providing our services. Please let us know if you need anything further.Sincerely,Ken S