First Imperial Credit Union Inc

I was speaking to the loan officer [redacted] I informed her what my credit score was under 600 before she started the application . Ms. [redacted] proceeded with my application knowing my credit score needed to be higher the 620 and I was charged a application fee. Customers service Sucks

Review: ON 08/12/2011, MY WIFE AND I PURCHASED A VEHICLE 2007 TOYOTA FJ CRUISER THRU FIRST IMPERIAL CREDIT UNION (FICU) AND WE PURCHASED THE GAP INSURANCE THEY OFFERED(ONE PAGE CONTRACT ONLY FOR GAP WAIVER ADDENDUM) FOR $300.00 DLLS. WE WERE TOLD THAT IN CASE OF AN ACCIDENT FOR TOTAL LOSS, GAP WAIVER WILL BE RESPONSIBLE TO PAY THE DIFFERENCE TO THE BANK (FINANCE). ON OCTOBER 21, 2013 WE HAD AN ACCIDENT DECLARING MY VEHICLE IN TOTAL LOSS. WHEN WE FINALLY CALLED THE GAP INSURANCE TO PAY THE DIFFERENCE (###-###-####)TO THE BANK $1960.23 DLLS. THEY TOLD ME THAT DIFFERENCE DOES NOT APPLY BECAUSE I DECIDED TO KEEP THE VEHICLE, WHEN I ASK THEM THAT THE CONTRACT I HAD SIGNED, DID NOT SPECIFY THAT. I WAS TOLD THAT THERE IS A SECOND PAGE THAT SPECIFIES THAT AGREEMENT WHICH WE DID NOT SIGN AND DATED SUCH PAGE BECAUSE NOBODY TOLD US ANYTHING ABOUT A SECOND PAGE, I HAD A COPY FOR THE ORIGINAL CONTRACT SIGNATURES AND DATE IF CASE YOU NEED IT, I CAN FAX ALL LEGAL DOCUMENTS AND CONTRACT I H[redacted] FILED. THEY CREATED A CASE NUMBER [redacted] GAP CLAIM DEPT. I WILL REALLY APPRECIATE YOUR HELP WITH THIS MATTER TO RESOLVE IT IN GOOD TERMS FOR BOTH PARTS, JUST LET ME KNOW IF YOU NEED MORE INFORMATION, I CAN MAIL OR FAX THEM AS SOON AS YOU ASK, THANK YOU VERY MUCH. [redacted].com ([redacted]. [redacted], [redacted], CA. [redacted]) ###-###-####Desired Settlement: I WANT THEY PAY DIFFERENCE OF $1960.23 DLLS. TO THE FINANCE (FICU) AS THEY PROMISED TO FREE MY VEHICLE'S TITLE AND FIX IT. AND DO NOT INVENT THINGS TO SKIP PAYMENTS,MAKING FALSE PROMISES TO SIGN CONTRACTS. THAT PROBLEM HAS REACHED ME HEALTH PROBLEMS LIKE HIGH VOLUME OF STRESS DUE THIS SITUATION BECAUSE I AM NOT WORKING DUE A JOB INJURY AND I AM NOT GETTING ANY INCOME SINCE JANUARY 2014. THANKS.

Business

Response:

Hello [redacted],

I am attaching a copy of the waiver that was signed by Mr. [redacted]. This is a standard form that all Members sign either accepting or declining our GAP product. Please let me know if you have any questions or if there is anything else that I can assist you with.

As stated on page 2 under “GAP Amount” that “If you are entitled to collect the same from others, including but not limited to, primary and other insurance, or salvage sale, that portion of the payment will not be covered in the GAP settlement”. The Members primary auto insurance provider sent in $7000 less on their settlement since the member retained the vehicle. Had the vehicle not been retained by the Member; the loan would have been paid off in full by their primary insurance provider, and it still would have been a $0 GAP Claim but they would have not been left with a balance on their loan.

[redacted]. [redacted]

Lending Manager

[redacted] El Centro Ca. 92243

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

Regards,

[redacted], I RECEIVED YOUR E-MAIL REGARDING GAP INSURANCE ADENDUM, I HOPE YOU ALREADY RECEIVED MY FAX PAPERWORK RE-SENT TO YOU YESTERDAY MARCH 18TH. WHERE STATES THERE IS ONLY ONE PAGE CONTRACT SIGNED AND DATED BY ME AND MY WIFE, THERE IS NOT A SECOND PAGE SIGNED AND/OR INITIALLED BY US. IF GAP INSURANCE HAS THAT PAGE, INSTRUCT THEM TO SEND IT OR FAX IT TO YOU, THAT PAGE IS THE ONLY ONE WE SIGNED THAT DAY. THANK YOU VERY MUCH

HOPING TO RESOLVE THIS MATTER [redacted]

Business

Response:

[redacted],

All members are provided with all pages of the GAP waiver. The reason for the GAP claim not paying has to do with the member’s decision to keep the vehicle. The member’s primary insurance provider valued the vehicle at $20,828.50 plus taxes of $1,666.28 minus the deductible of $500 for a total settlement value of $21,994.78. (see attached). The member’s primary insurance provider ([redacted]) gave the borrower a choice of taking the full payoff of $21,994.78 or take a lesser amount of $14,453.78 and keep the vehicle, which the insurance company valued at $7,000 (this vehicle has value and could be sold by the borrower). If the borrower took the full payoff of $21,994.78 and not retain the vehicle as salvage, then the loan would have been paid off in full.

Please let me know how else I can help. Thank you.

Lending Manager

First Imperial Credit Union

El Centro, CA. 92243