Foursight Capital LLC

The customer’s confusion on the above issue seems to stem from a misunderstanding as to how overages will be applied to account. When a payment is paid late, beyond the grace period, additional funds paid over the amount needed to satisfy the monthly installment, will be applied toward the approaching due payment, rather than toward fees. This is done in an attempt to get the account back to a current status. Posting overage toward fees does not benefit the customer, as outstanding fees do not incur interest and do not compound into additional fees, as ongoing delinquent monthly installments would. Due to this fact, overages paid onto a delinquent account will post toward either outstanding, or the approaching, payment in order to get the account back to a current status. In this case, the overage was applied toward the upcoming June installment, rather than fees. With the next payment, had the customer made a regular payment, the balance of the June installment would have been satisfied and, with the account being current, the rest of the transaction could have been credited toward outstanding fees. However, the customer only paid the balance of the June installment due, using the overage credit to decrease the amount needed to complete the monthly installment. As stated in our original response, the overage amount can be reapplied, to cover the outstanding fees. However, the result will be that the monthly payment will then be delinquent in the amount of $If the customer wishes for the payment to be reapplied, she will need to contact our Customer Service Department at (888) 960-8063, with instructions. We have attempted to reach the customer on multiple occasions to clarify the customers intention on this transaction, but we do not have valid phone numbers to contact Ms*** and email attempts to contact the customer have been unsuccessful

Unfortunately, we are not able to locate an account using the name that has been provided with this complaintWe can address the comments provided in this message but are not able to locate a specific account Your auto finance retail installment contact is also known as a simple interest
contract (“Contract”)The loan is calculated using the simple interest methodThe interest is calculated on your loan by multiplying the outstanding principal balance by the daily interest rateThe interest you pay us is based on how much principal you owe and the number of days you owe it Interest begins accruing on the date the Contract is executedInterest is calculated and accrues every day until the Contract is paid offPaying the Contact off prior to the maturity date will result in no interest being accrued after the date that the payoff amount is received at our office

The account was in default and further action was taken in accordance with the signed contract (item #of the Additional Agreements of the Buyer) The customer has been sent the post-repossession paperwork which explains options available for redeeming the collateral, and for requesting additional financial details

Foursight Capital has confirmed that the data being furnished to the credit bureau agencies is correctMs*** contacted the Foursight office on August and stated that her credit report was incorrectly showing the account as having been closedA request was sent to the credit agencies at that
time to confirm that the data was being reported correctlyFoursight Capital was later in contact with Ms*** on September when she stated that the information was still showing incorrectly by the credit reporting agenciesAt that time Foursight began attempting to contact the credit agenciesFoursight was successful in contacting Equifax and TransUnion and they stated that it appeared that there may have been an error due to the fact that Ms*** had a previous account with Foursight Capital that had been paid in full and closed As of October 26, both Equifax and TransUnion have advised Foursight that the customers credit record does correctly reflect that the account is an open account and that the customer has been paying as agreed

On June 2, 2017, we received notice regarding a complaint filed against Foursight Capital (“Foursight”) through the Revdex.com. Foursight is committed to providing the best possible customer service, so we have investigated Ms. [redacted]’s complaint and made the following determination....

 On May 18, 2017, a single payment was initiated via ACH.  On May 19, 2017, a double payment was paid by credit card, with arrangements for another double payment to be paid two weeks following.  Upon payment of the initial payments, the repossession order was placed on hold.  However, on May 22, 2017, we were notified that the ACH payment was returned by the customers bank, resulting in the arrangement that had been made to not be completed. This resulted in the repossession being taken off hold.  Due to the recent history of the account and to protect the collateral Foursight Capital will require the full loan payoff to release the vehicle back to Ms. [redacted]. On June 2, 2017, regrettably, we experienced some phone line technical issues that resulted in unusual hold times for some of our customers. We are sorry for any inconvenience this may have caused Ms. [redacted].

The issue lies right in their own response. Foursight Capital applies my payment incorrectly. Bottom line, if the payment was applied correctly there wouldn't have been an issue. I have a hard time dealing with unprofessional companies who misrepresent their services and don't acknowledge their mistakes. I have contacted Foursight Capita numerous times regarding this issue. I have only received automated emails from alleged Account Managers. I did exactly what I was instructed to do in regards to the late payment and they applied it wrong. Yes, the last payment that was made was $52 short because again I was TOLD to pay $430. That was the amount due online. Please save all your lies and unethical business tactics for the next person. If you're going to address the issue, address it honestly and correct the mistakes YOUR COMPANY MADE. Shortly this won't be an issue because I will be financing through a new company come October. If you aren't going to correct the issue then there is nothing to discuss. Payments will be made accordingly. 
Complaint: [redacted]
I am rejecting this response because:
Sincerely,
[redacted]

On September 6, 2017, we contacted the customer in regards to the August payment that was 20 days past due.  At that time, our customer stated that she needed to know if we could do an extension for the August payment due to Hurricane Harvey.  The customer had taken an extension the...

previous month but that we would be able to offer an exception extension for the August payment.  At that time, we arranged for the extension fee of $34.55 and the extension form to be sent. On September 12, 2017, we contacted the customer in regards to the extension form.  At this time, the customer stated that she may not use the extension based on the remaining payment owed and that she was busy and would need to call back.  At that time the call was disconnected. Subsequent collection attempts were made to resolve the August payment with either a payment or an extension.  On September 19, 2017 we received the extension form and processed it accordingly. On September 28, 2017, we contacted the customer in regards to the September payment.  At that time, the customer asked us to follow up on Monday, October 2nd for a payment arrangement. After this contact, we received 2 emails stating that she needed another extension for the September payment.  We advised the customer that we were unable to grant her request at this time due to having given a payment extension in August for the payment that was due on June 17, 2017 and then again in September for the payment that was due on August 17, 2017 due to the financial hardship the customer had experienced. On October 10, 2017, the customer sent in an email stating that we would have a payment by the end of the week (October 13, 2017) and that she wanted to advise of the filed complaint.

On December 24, 2017, we received notice regarding a complaint filed against Foursight Capital through the Revdex.com. Foursight is committed to providing the best customer service, so we have thoroughly reviewed and investigated Ms. [redacted]’s complaint and have made the following...

determination. On December 15, 2017 Ms. [redacted] contacted Foursight Capital stating that she would like to request a payment extension for the December payment.  At this time, the assigned account manager authorized the payment extension and arranged for the extension form to be sent to the customer.   The customer was set up on auto pay with a due date of the 18th of each month.  The auto pay was not suspended per the Foursight procedure and the payment drafted on December 18th, 2017. Ms. [redacted] initiated contact on December 18, 2017 after the payment was drafted from her bank account.  We advised that we would initiate the credit back to the customer with a copy of her bank statement showing that the payment had cleared, no stops or disputes. The ACH Credit was initiated back to the customer on December 26, 2017 after the refund went through the refund process to initiate the credit in the amount of $363.67. If Ms. [redacted] has any questions about this issue or any other concerns, we encourage her to contact us at 888-960-8063.

Complaint: [redacted]
I am rejecting this response because: at no point did the lien holder communicate with customer. It was until the customer contacted the lien holder that these issues were found. A check cannot be stopped if it has been cashed. A letter went out along with the check to the lien holder. It was the lien holders duty to communicate with customer which they did not do so. At no point did the customer ask them to credit their account with the monies from the insurance. It is now the lien holders duty to return ALL funds to the insurance carrier immediately. 
Sincerely,
[redacted]

On August 3, 2017, we received notice regarding a complaint filed against Foursight Capital through the Revdex.com. Foursight is committed to providing the best customer service, so we have thoroughly reviewed and investigated Ms. [redacted]’s complaint and determined that the...

compliant is without merit. Upon receipt of this complaint, an employee of Foursight Capital went directly into the dealership to investigate the complaint background.  A representative from Clay C[redacted] stated that originally the customers were told that the Dealership would submit the application to a lender that offers a “no payment for 90 days” program.  That deal was not approved by the original lender, so the Dealership sought financing through Foursight Capital, which was approved.  Foursight requires the first payment to be due within 45 days.  This was expressed to the customer and a contract was signed by both customers on June 3, 2017, showing the first installment due on July 18, 2017.  As a customer service gesture, in order to accommodate the customers’ original desire to have a longer period of time before making their first payment, on July 17, 2017, the Dealership provided Ms. [redacted] with a check (#[redacted] in the amount of $427.00) to cover the first installment due under the signed contract.  That check was cashed by the customer on July 19, 2017 (endorsed copies have been received by Foursight).  However, those funds were never forwarded by the customer to Foursight Capital, to cover the first installment due under the contract. We have discussed this directly with Ms. [redacted], who confirmed that she did receive the check from the dealership, but indicated that those funds were used elsewhere.  Due to the fact that the customers signed a contract with a due date of July 18, 2017, and were provided additional funds by the dealership to cover the first installment due under the signed contract, nothing more could have reasonably been done to resolve the customers complaint.

On January 28, 2016 Mr. [redacted] attempted to make a
credit card payment through the Foursight Capital website. When Mr. [redacted] processed
the initial payment on the website he received an error and as a result he
returned to the payment screen and processed another transaction. Mr....

[redacted]
then contacted Foursight Capital and spoke with an Account Manager. At this
time he indicated that he had received an error when attempting to process his
payment but did confirm that two transactions had cleared on his statement. We
asked the customer to provide us record of the cleared transaction on his bank
account so that we could investigate further and get this resolved as quickly
as possible. We identified the issue with the website and did confirm that two
transaction had been processed in error. Once we had confirmed that the
transaction was processed in error Foursight Capital initiated a credit back to
the customer for this payment to the bank account that had previously been used
for payment. The ACH Credit request was processed back to the customer into his
checking account with JP Morgan Chase on January 28, 2016.
Mr. [redacted] contacted Foursight Capital on January 30,
2016 to enquire about the funds being credited back to his account. At that
time he indicated that the funds had been sent to an incorrect bank account. In
conclusion of this call he indicated that he would call Wells Fargo at that
time and call us back with additional information regarding what the bank had
advised him to do.
On January 10, 2016 the customer processed a new
transaction via the Foursight Capital website with a Wells Fargo bank account.
On February 16, 2016, Foursight Capital received notification from Wells Fargo that
the transaction had been returned due to “Account Frozen”. After this payment
was reversed from his Foursight Capital account, we received notification that
his second payment in the amount of $[redacted] was returned from his bank (Wells
Fargo) due to “Account Frozen”.  At this
time a phone call was made and an email was sent in an attempt to speak with
the customer regarding the status of the account. On February 24, 2016 a charge
back notice was received by Foursight Capital indicating that the second credit
card transaction that was processed on January 28, 2016 had been disputed and
never paid by Mr. [redacted]. Foursight Capital continued to attempt to make
contact with the customer to discuss the status of the account and to attempt
to clarify any confusion that had occurred.
On February 26, 2016 Mr. [redacted] contacted Foursight
Capital and stated that he was a victim of fraud on his bank account and that
is why he had the transactions returned. Mr. [redacted] stated that due to being
a fraud victim he had no control over the returned transactions and it was not
his fault. He indicated that he wanted the fees that had been assessed to be
waived. Mr. [redacted] was informed at that time that the fees could be submitted
for review to be waived but could not waive them all.
On March 7, 2016 Mr. [redacted] contacted Foursight Capital
and inquired why his account was still showing as past due. The Account Manager
reviewed the transaction history with him indicating the returned transactions
had resulted in the account being delinquent as had previously been discussed
when he had called in February. At that time he stated that he had bank
statements showing that the transactions had cleared his bank and he was
advised to send in those records so that they could be reviewed by the
department Supervisor.
Attempts to contact the customer to resolve any concerns
with no success. On March 14, 2016 the customer sent an email in response to an
email that was sent to him asking him to call Foursight to discuss the account.
The customer at that time indicated that he was waiting for the transactions
from December, January, and February to be credited to his account and to
adjust any incorrect reporting to the credit bureaus. At this time another
email was sent back to the customer requesting that he contact Foursight
Capital to speak with the department Supervisor.
On March 17, 2016 Mr. [redacted] contacted Foursight
Capital and spoke with a Team Lead and indicated that he was upset that this
was still an issue and that he had sent in the documentation showing that the
transactions had been paid for December and January. The customer was then transferred
to Mrs. Shawna L[redacted], the department Supervisor, in an attempt to resolve the
customers concerns. Mrs. L[redacted] explained to Mr. [redacted] that the account was
delinquent due to the transactions that were returned from the January payment.
She assured the customer that if he had bank statements showing that the
transactions had cleared that she would help him get the issue corrected. He
stated that he would send the statements directly to her email for further review.
Mr. [redacted] did not respond to additional attempts to contact him until he
called in on March 21, 2016 but Mrs. L[redacted] was not available in the office
and Mr. [redacted] only wanted to speak with her.
On March 29, 2016 Mr. [redacted] contacted Foursight
Capital and indicated that he was upset regarding his account was still not
corrected and he indicated at that time that he wanted to voluntarily surrender
the vehicle. Mrs. L[redacted] was out of the office at the time he called and so he
asked to have her call him the next day. Mrs. L[redacted] did speak with the
customer on March 30, 2016 and explained that the account was still past due as
a result of the returned transactions. The customer stated that he did not
intend to make payment on those transactions and disconnected the phone call.
Later in the day on March 30, 2016 an email was received from Mr. [redacted]
stating that he did speak with Chase Bank and did confirm that the money went
into the closed bank account so he was never notified of the returned funds. He
indicated that he will make two months of payments on April 8, 2016 and asked
that a call be made to him from Mrs. L[redacted] to confirm the arrangement to help
get the account caught up.
At this time the customer has not responded to phone
calls or emails sent to him to confirm arrangement. Once the customer is able
to make the past due payments the fees on the account can be reviewed for
possibility of having some waived.

A company Supervisor has reached out to the customer, with a voice mail message left.  If the customer still wishes to speak directly to a Supervisor regarding her concerns, she may contact our office at (888) 960-8063.

Review has been completed.  Late fees assessed to the account were assessed in accordance with the contract.  Attached is a detailed review of the account.

On July 17, 2017 we received notice regarding a complaint filed against Foursight Capital (“Foursight”) through the Revdex.com. Foursight is committed to providing the best possible customer service, so we have investigated Ms. [redacted]’s complaint and made the following determination. On...

August 30, 2016, Ms. [redacted] signed a Motor Vehicle Retail Installment Contract for a 2016 Jeep Compass. The contract was for 75 monthly payments of $483.48 on the 29th of each month. In the event that the payment was not received within the 15-day leeway, as indicated in the Contract, a late fee would be assessed. The payment due on May 29, 2017 was not received until June 16, 2017 resulting in a late fee being assessed. When the payment was made through the Foursight Capital website that was for the total monthly payment plus the late fee, the funds were applied towards the full May payment and a partial June payment. Foursight Capital attempted to contact Ms. [redacted] on 7/11/2017, 7/12/2017, and 7/13/2017 to speak with her to discuss her intentions on how she wanted the funds applied to his account. On 7/13/2017 a payment was made on the Foursight Capital website in the amount of $430.96, which is $52.52 less than the monthly scheduled payment of $483.48. If we reapply the proceeds from the payment made on June 16, 2017 to be applied to the outstanding fees on the account this will result in the account being behind for the payment that was due on June 29, 2017. We need to speak with Ms. [redacted] to get confirmation that this is the action that she wishes to have done. We want Ms. [redacted] to know we thoroughly researched her concerns regarding the customer service issues she experienced. Our success is based on customer satisfaction with our products and services so we take the issues presented in this complaint seriously and make every effort to provide a prompt and equitable response. We encourage Ms. [redacted] to contact us at 800-406-1430 so we can discuss his concerns further.

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,
[redacted]

All three credit bureaus have been provided with a file with the validated data. We have received notice from both Equifax and TransUnion that they have updated the file. We received confirmation from Experian that the file was received. At this time all three bureaus have been provided with the correct information.

Complaint: [redacted]
I am rejecting this response because:
There are three credit bureaus that need to be corrected. Equifax, Transunion and Experian. They all need to be updated to correctly reflect the payments.
Sincerely,
[redacted]

We have researched the credit inquiry and found that Corpus Christi Subaru submitted an application for credit to Foursight Capital, on April 23, 2016, requesting consideration to fund an auto loan for the purchase of a 2015 Mitsubishi Lancer.  Foursight Capital did not ultimately fund the...

loan. If Mr. [redacted] believe his application to be a result of ID theft, we will be able to further investigate the matter, if provided additional information.  To facilitate this process, we will forward the necessary information and forms directly to Mr. [redacted] today, at the address provided above.

On June 28, 2017 we received notice regarding a complaint filed against Foursight Capital (“Foursight”) through the Revdex.com. Foursight is committed to providing the best possible customer service, so we have investigated the customer’s complaint and made the following determination....

The signed contract outlines the utilization of vehicle damage insurance proceeds as either to be used to repair the vehicle, or applied to reduce the balance owed.  With these requirements in mind, if the vehicle is repaired, the proceeds are delivered directly to the repair shop upon completion of the repairs and, if not repaired, the proceeds are applied directly to the balance owed.  Under no circumstance, will the insurance check be endorsed by Foursight and delivered to the customer. In this situation, the check was mailed to Foursight by the customer. It was managed in the standard process and the proceeds were applied to the account. No signatures were forged, but the check was processed with only Foursight's endorsement, and did not include both payees endorsement.  This should have been caught during the processing of the check, but was not.  We have spoken with the customer’s insurance company, Geico, and they have agreed to cancel the original check and issue a new check, in order to allow both payees to properly endorse the check.  The end result will be the same however. The only options available for the received insurance proceeds are to apply it towards the repair of the vehicle or reduction of the loan balance.  The following documentation will be forwarded to the customer for review - copy of contract disclosing insurance proceeds requirements, copy of endorsed check showing no forged signatures, and copy of the payment history, showing insurance proceeds applied to the account.  Please note however, the insurance proceeds will be backed off the account upon the cancellation of the original check and issuance of a new check.

Complaint: [redacted]
I am rejecting this response because: I was contacted via email by an agent that was part of my complaint. I asked to be contacted by someone with a position higher within the conpany and I have not received a response. Also, the company has denied the credit I have asked for to compensate me for my inconvenience and my account still shows that I have an outstanding fee due when I made the payment for this fee the first day that I contacted the company.
Sincerely,
[redacted]