Heartland Credit Union

To Whom It May Concern:I am an in receipt of the complaint # [redacted] filed with your office on March 7, referenced above.Complainant did indeed purchase GAP protection from Heartland Credit UnionA blank copy of the election form signed by the complainant is included for your reviewThe coverage is available for up to 125% of the MSRP or NADA value of the vehicle (see the first paragraph under the fee disclosure section) at the origination of the loan.At the time of the loan origination, Complainant elected ti finance 115% of the value of the collateral pledgedComplainant then added on a vehicle service contract in the amount of $(documents available upon request) and $to cover the cost of the GAP protectionUnfortunately, the collateral had exhausted the mileage cap on the service contract at the time of the accident which resulted in no refund to complainant at the time that the vehicle was totaledHad the service contract not expired due to mileage, the company HCU contracts with has a Total Loss Refund clause that could have resulted in a refund of the original purchase price.In addition, Complainant frequently incurred a $late fee for each payment made after the 10-day grace periodThose fees were added to the loan balance and further inflated the loan-to-valuecomplainant also took advantage of at least two payment skips offered to him/her.Complainant has been provided with all correspondence in terms of the claims status and justifying documentationIn addition, several HCU staff have explained to Complainant the options available to him/her including renegotiating the remaining balance for terms which will allow him to satisfy the balance owed.Sincerely, [redacted] ***Vice President of Lending

To Whom It May Concern:I am an in receipt of the complaint #*** filed with your office on March 7, referenced above.Complainant did indeed purchase GAP protection from Heartland Credit UnionA blank copy of the election form signed by the complainant is included for your reviewThe
coverage is available for up to 125% of the MSRP or NADA value of the vehicle (see the first paragraph under the fee disclosure section) at the origination of the loan.At the time of the loan origination, Complainant elected ti finance 115% of the value of the collateral pledgedComplainant then added on a vehicle service contract in the amount of $(documents available upon request) and $to cover the cost of the GAP protectionUnfortunately, the collateral had exhausted the mileage cap on the service contract at the time of the accident which resulted in no refund to complainant at the time that the vehicle was totaledHad the service contract not expired due to mileage, the company HCU contracts with has a Total Loss Refund clause that could have resulted in a refund of the original purchase price.In addition, Complainant frequently incurred a $late fee for each payment made after the 10-day grace periodThose fees were added to the loan balance and further inflated the loan-to-valuecomplainant also took advantage of at least two payment skips offered to him/her.Complainant has been provided with all correspondence in terms of the claims status and justifying documentationIn addition, several HCU staff have explained to Complainant the options available to him/her including renegotiating the remaining balance for terms which will allow him to satisfy the balance owed.Sincerely,*** ** ***Vice President of Lending

To Whom It May Concern:I am an in receipt of the complaint #[redacted] filed with your office on March 7, 2017 referenced above.Complainant did indeed purchase GAP protection from Heartland Credit Union. A blank copy of the election form signed by the complainant is included for your review. The...

coverage is available for up to 125% of the MSRP or NADA value of the vehicle (see the first paragraph under the fee disclosure section) at the origination of the loan.At the time of the loan origination, Complainant elected ti finance 115% of the value of the collateral pledged. Complainant then added on a vehicle service contract in the amount of $2066 (documents available upon request) and $400 to cover the cost of the GAP protection. Unfortunately, the collateral had exhausted the mileage cap on the service contract at the time of the accident which resulted in no refund to complainant at the time that the vehicle was totaled. Had the service contract not expired due to mileage, the company HCU contracts with has a Total Loss Refund clause that could have resulted in a refund of the original purchase price.In addition, Complainant frequently incurred a $25 late fee for each payment made after the 10-day grace period. Those fees were added to the loan balance and further inflated the loan-to-value. complainant also took advantage of at least two payment skips offered to him/her.Complainant has been provided with all correspondence in terms of the claims status and justifying documentation. In addition, several HCU staff have explained to Complainant the options available to him/her including renegotiating the remaining balance for terms which will allow him to satisfy the balance owed.Sincerely,[redacted]Vice President of Lending