We would like to start off by thanking the complainant for bringing this to our attentionWe a PAC strive to provide the highest quality customer serviceWe take every complaint seriously, and wish to find a resolution that is amicable to both the consumer and companyAfter reviewing the complainants account to verify the details of the complaint, we have concluded that this matter is a simple misunderstandingWhile an agreement was made to settle the debt, that does not guarantee that the vehicle will not be repossessedA settlement was offered to the complainant, meaning that we agreed to a lower amount than what was owed to give the complainant the opportunity to pay off the vehicle more easilyThat does not guarantee that the vehicle would stay with the complainant until the settlement was receivedThe settlement letter sent has an expiration date of November 3rd, meaning that it will remain valid until thenWe will hold the car until that timeIf the complainant has any questions, please call 801-312-0700.?
We reviewed complainants account to verify the details in the complaintWe thank them for bringing this to our attentionWe strive to provide the highest level of customer service possibleWhile we feel it is unfortunate that complainant has had a difficult time with our company, we will address the facts of the situationWe have received letters, as well as multiple disputes from complainant stating that the vehicle was included in a bankruptcyWe have found no bankruptcy case since the inception of the contractWe have asked complainant multiple times for proof of a bankruptcyWe have not received such proofWe have also provided requested information to complainantWe will be more than happy to review this account once we do receive proof of a bankruptcy being filedWe are reporting correctly on complainants’ credit reportIf complainant would like to discuss how their account is being reported, they can call (801) 312-0761.?
We reviewed the complainant’s account to verify the details in the complaintWe thank the complainant for bringing this to our attention so we can best serve our customersWe find it unfortunate that the complainant felt that their experience was negativeWe strive to provide the highest quality customer service and take issues regarding customer service very seriouslyA cease and desist has been placed on the accountThere will no longer be any phone calls from our collections department to the complainantFDCPA §prohibits debt collectors from calling someone repeatedly or continuously with the intent to annoy, abuse, or harass any personOur company policy is to strictly adhere to the FDCPA guidelinesWe strive to both serve our customers with respect and courtesy while protecting our business interestsOur intent is not to annoy, abuse, or harass, but to provide the customer with every opportunity to stay current on their loan to keep their vehicle and maintain/improve their credit? Complainant claims that we “have no proof that the car loan was paid or that the monies were received by the car dealership.” We have attached information showing that we funded the dealership the amount agreed upon for the deal to go forwardBecause the complainant performed a voluntary surrender, the credit bureaus look at that as though the person is unable or unwilling to make their car payments, which will have a negative impact on their credit reportUntil the vehicle is paid off by either the dealer or the complainant, the loan will still appear on their credit reportThe complainant entered a legally binding contract with the dealership and our institution stating that they will continue to make payments until the term of the contract or the principal of the loan is metThe contract has been funded, and as such is enforceable until paid off by either the complainant or the dealershipWe find it unfortunate that the customer has had such a difficult time during this processif there is anything else that we can do to assist them with this problem, feel free to contact usWe will do everything on our power to resolve any problems that may arise
We reviewed Customer’s account to verify the details in the ComplaintThe dealership was closed during the time that the complainant was making payments for the vehicleWe have been trying to work with a third party bonded title company, however the owner has been unresponsive to our inquiriesWe feel that, although we are just the finance company and have no responsibility regarding the transference of title or registration to the customer, it would be irresponsible to not help a customer who is having a difficult time getting the paperwork they need to legally and properly operate the vehicle they purchasedWhile we do not agree with the actions of the owner of the title company, we have no control over whether he will return our weekly inquiries or requestsThe only person who would be able to get the paperwork that the complainant needs would be the Bonded title company ownerWe are doing everything in our power to ensure that the complainant can get the help he needsWe will continue to reach out to the title company owner and explain the situation on the complainants behalf until this comes to an amicable resolutionOne possible avenue for the complainant, seeing as though he is a Texas resident, would be to file a suit with the office of administrative hearings to determine if he has the right to a title and if the judgement were in his favor, the bonded title company would be required to get him his registration and title
We reviewed complainants account to verify the details in the complaintWe thank them for bringing this to our attentionWe try to always offer the highest possible level of customer service and care possibleThere seems to be a misunderstanding of the way a simple interest loan operatesIf complainant has any questions regarding how a simple interest loan works, they can refer to the FAQ on our website http://www.primeautoloan.com/Customers/FaqsThe same FAQ can be used to provide complainant with a possible avenue for complainant to use to refinance vehicleIf the complainant would like a copy of their contract, they can call 801-312-The person who handles this type of information will be more than happy to provide a copy of the contract to the complainantIf complainant has any other questions, they can contact us at [email protected]
We reviewed complainants account to verify the details in the complaintWe thank them for bringing this to our attentionWe try to always offer the highest possible level of customer service and care possibleWhile it was unfortunate that they had a difficult experience at the end of the loan, this seems to be a miscommunicationThe customer entered into a contract with our company, with the vehicle as collateral, that gave us express rights to repossess it if certain conditions were not met, specifically if the loan defaultedWe also retain the right to “ sell the property and apply what we receive as provided by law to our reasonable expenses of repossessing, storing, preparing for sale...” The vehicle was assigned for repo, which accrues a feeThey made a payment before the car was repossessed, which made us rescind the repo orderEven though the order was rescinded, a fee is still placed on the account, which the complainant would be responsible forAfter some conversations between the collections manager and the complainant however, the fee has been waived and the account status has been changed to “paid”The title will be released to complainant after final payment has been cleared
We feel as though there is a simple misunderstanding regarding this complaintPrime Acceptance Corpis still operating and has not been dissolvedWe are not sure how they came to the conclusion that we are no longer in businessPrime Acceptance has moved to a different locationThe information on the complainant’s credit report is accurateIf they would like to discuss this issue further, or have any other questions they would like us to answer, they can contact us at (801) 312-
We reviewed Customer’s account to corroborate the complaint Customer initiatedWe show $*** total in insurance default fees assessed on Customer’s accountThe dates individual fees were assessed were on 2/1/16, 3/1/16, and 4/1/We are unsure why Customer thinks the disputed amount is $We
also reached out to our Collateral Protection department who handles insurance on accountsAccording to them, we reached out about the missing insurance on 1/5/and Customer agreed to provide at that timeWe send multiple other messages to Customer over the following couple of months about the lack of insurance on his vehicleWe finally contacted Customer on 3/28/wherein Customer agreed to provide current declaration page as well as pay outstanding feesWe spoke with Customer again on 3/29/wherein Customer stated he was still working on providing insurance information but he had not done so yetCustomer called in on 4/20/claiming to have sent insurance information and was upset about feesHe asked to talk to a managerThe manager of the department called back and left a message on 4/21/16, but Customer never called back We reached out to the insurance company on 4/25/Customer’s insurance provider advised us that Customer allowed his insurance to lapse in and did not have an active policy until 3/15/Insurance company also confirmed they had not faxed or emailed a copy of the policy to us since there was never a request to do soWe regret Customer feels the way that he does, but we feel we did all in our power to help Customer get everything resolved and we only received updated insurance information through our own effortsWe will be waiving the 4/1/fee on Customer’s account since it was assessed after the effective date of Customer’s insurance policy
Complaint: ***
I am rejecting this response because: I was promised a letter from the prime acceptance on letterhead that my account was closed and the item may be removed from the credit report which is well within my rights I was promised to have that letter within to weekI don't care if they say they don't do deletion lettersThe fact is they are able to supply such paperwork no problem at all The account is closed with balance and they simply do not want to honor their word.
Sincerely,
*** ***
We apologize that our prior responses haven’t helped
Customer understand what is being presented and hope that this will help her
There are various amounts that Customer is referencing and they are defined as
follows:
$Past Due Amount on letter sent to customer 9/30/
$287.17- 9/28/principal balance as well as payoff sent by
Customer (note: payment was shorted by $6.88- the $of interest quoted from payoff
quote on 9/29/plus additional days of interest that accrued from 9/29/
until the payment was received on 10/2/As noted in prior response, we
cleared the $off since it was not worth our efforts to pursue, so Customer
actually paid less than was owed)
$293.46- 9/29/payoff quote (includes $principal
plus $of accrued interest)
$295.43- day payoff quoted 9/29/
$300.49- Originally contracted monthly payment amount
It appears we’ve resolved the difference between the
originally contracted payment amount and the payoffs quoted in our prior
responses and that the primary concern remaining is the amount past due versus
the payoff amountThe amount past due is the amount that a customer must pay
in order to bring their account current, which is not necessarily the same as
the payoff amount or the contracted monthly payment, as is the case here
We regret that Customer feels she has been slighted and it
appears to be a misunderstanding of what the amounts above referenceCustomer
may refer back to her statement that shows the $and note that it is
labeled as the Past Due Amount, not the Principal Balance or the Payoff Amount
We cannot disclose specific details about a customer’s
account beyond what is already part of the complaint through a 3rd party,
so if Customer’s concerns have still not been satisfied and she wants to
discuss any particular details in depth we encourage her to reach out to our
Customer Service Team at ###-###-####
We pulled Customer’s account to see what accommodations
could be made as well as to review the call frequency made to CustomerCustomer
conveyed to us early on in the loan that she could not make payments until the
end of the month, so, per her request, we changed her due date on 3/12/
from
3/18/to 4/1/and the first day of the month thereafterAfter granting the
due date change, Customer became delinquent again, and in her complaint states
that she asks us to not call her because she can only pay when it coincides with
her pay scheduleThe Retail Installment Sales Contract that Customer entered
into is clear that Customer’s loan is an installment loan that requires a
payment every monthUnfortunately, we already changed Customer’s due date to
coincide with her pay, so at this time, unless Customer makes an extra payment,
Customer will be perpetually thirty or more days past due
We have added Customer to our Do Not Call ListThis will
cease calls Customer receives; however, Customer needs to be aware that we will
not be able to reach out to Customer to make arrangements that could help
Customer get back on track if Customer is delinquentGiven what was stated in
the prior paragraph, we strongly recommend Customer become current on her loan
now and going forward
As stated in our original response, interest accrues daily so the balance will always be changingThis is not a "shady" practice; this is standard with any loanThat is why lenders will give day payoffs, day payoffs, etc As to the statements, statements are auto generated, so Customer's payoff may have crossed paths with the statement (which it appears there was a delay with your payoff since we had to reprocess Customer's final check, so this very well is likely the cause)Once an account is marked as paid in our system the statements are no longer generated. We are unsure why Customer is questioning the existence of a month loan in generalLoans can be made for any term in order to meet the needs of a customer and a lenderIf Customer will please refer to her original paperwork, the contract that she signed on 6/28/states under "SECTION B: DISCLOSURE MADE IN COMPLIANCE WITH FEDERAL TRUTH-IN-LENDING ACT" that the number of payments to be made was We are unsure why customer thinks that the term was months, but this is a misunderstanding on Customer's part. Finally, as we stated in our previous response to Customer, the loan was paid off and closed on our endIf Customer received a statement shortly thereafter that is simply because it was generated before the final payment was entered in our systemThat statement can be disregarded since the loan is closed.We hope that this resolves all of Customer's concerns and wish her the best
We attempted to review the customer’s account, but could not find any customer by that name in our systemIf the complainant were willing to provide more information, we would be more than happy to do additional research
We reviewed complainants account to verify the details in the complaintWe thank them for bringing this to our attentionWe strive to provide the highest level of customer service possibleWhile we feel it is unfortunate that complainant has had a difficult time with our company, we will address
the facts of the situationWe have received letters, as well as multiple disputes from complainant stating that the vehicle was included in a bankruptcyWe have found no bankruptcy case since the inception of the contractWe have asked complainant multiple times for proof of a bankruptcyWe have not received such proofWe have also provided requested information to complainantWe will be more than happy to review this account once we do receive proof of a bankruptcy being filedWe are reporting correctly on complainants’ credit reportIf complainant would like to discuss how their account is being reported, they can call (801) 312-0761.
We would like to start off by thanking the complainant for bringing this to our attentionWe a PAC strive to provide the highest quality customer serviceWe take every complaint seriously, and wish to find a resolution that is amicable to both the consumer and companyAfter reviewing the
complainants account to verify the details of the complaint, we have concluded that this matter is a simple misunderstandingWhile an agreement was made to settle the debt, that does not guarantee that the vehicle will not be repossessedA settlement was offered to the complainant, meaning that we agreed to a lower amount than what was owed to give the complainant the opportunity to pay off the vehicle more easilyThat does not guarantee that the vehicle would stay with the complainant until the settlement was receivedThe settlement letter sent has an expiration date of November 3rd, meaning that it will remain valid until thenWe will hold the car until that timeIf the complainant has any questions, please call 801-312-0700.
This complaint appears to be a simple
misunderstanding about how Customer’s loan workedCustomer had a simple
interest bearing amortizing loan with usInterest accrues on the loan balance
daily, which accounts for the difference in payoff amounts quoted to the
customerThis is the exact same
thing you would find on every simple interest
loan that accrues daily
At the outset of the loan the payment amount
is computed based on customer’s original loan balance, the interest rate, and
the term of the loanThe amortization schedule assumes the customer makes
their payment exactly according to the schedule (no early or late payments) If
a customer makes any payments early then less interest would accrue, so the
customer would pay off their loan quicker than the original term of the loan
If a customer makes any late payments then additional interest would accrue
(plus any late fees, if applicable), so a customer’s loan would end up going
longer than the original termOnce again, this is standard with any loan
A review of Customer’s loan shows that she
signed up for a month loan that started 6/28/The vast majority of
customer’s payments were on time; however, there were some that were late and
there was definitely variance as to the day of the month that the loan was
paid, thus the term of the loan would fluctuate accordinglyCustomer’s loan
was paid off October 2, 2012, which is almost months to the day, thus we
have not added “months onto [the] contract”Also customer hasn’t paid “thousands
in over payment” because she has followed the originally contracted term with
her regular loan paymentWe are unsure how Customer feels slighted on this
regard
Customer states that there are
misrepresentations on the billOnce again, we feel this is just a
misunderstanding and we would be happy to clarify the specificsThe bill shows
customer’s outstanding principal balanceThis is not the same as the payoff
because, as mentioned earlier, interest accrues dailyIf customer would refer
to the back of her statement it states,
“Account
Payoff Information: The outstanding balance on the front of this statement is
not your payoff amount; the balance listed on the front side of this statement
is subject to change by any pending payments and/or accrued interest or fees… To
obtain the accurate amount to payoff your loan please contact customer service
at ###-###-#### and select the option to speak with an account manager to
receive the proper payoff balance.”
Customer also alleges that we tried to “sneakily” get the
regular payment of $The fields on the bill are populated from a
databaseOne field is the principal balance, another is the contracted payment
amountThe latter does not change based on the former because it simply pulls
the contracted amount from the databaseWe are not trying to get extra
payment- if we were to receive extra payment we would actually refund it back
to Customer once the account is settled
As to the GPS, customer states that we put an “unauthorized”
tracking device on her vehicleWe never install a GPS device on a customer’s
vehicle unless we previously receive a GPS/Starter Interrupt Addendum to their
contract prior to consummation of the loanWe reviewed customer’s file and
verified we have the addendum signed by customer dated 6/28/Customer
should be able to find a copy of the addendum with her original paperwork, or
we could send Customer a copy upon her request
As to Customer’s desired resolution, Customer sent in her
final payment of $to us on October 2ndIt was short a small
amount of interest; however, we cleared the balance as it was deemed not worth
pursuing and Customer’s account was closed the same dayAccording to our
policy, title will be mailed out once we can ensure Customer’s final check
fully clearsAs to the GPS device, now that the contract is paid in full
Customer is within her rights to remove the deviceWe do not uninstall devices
since we do not have the capacity to; however, we terminate the device on our
end so it no longer sends us any infoIf customer still wishes to have the
physical device removed we recommend she take it to a car electronics store,
rather than a mechanic, but be advised that Customer is to do this at her own
risk and with her own money
Finally, Customer made a number of complaints about the
service she received during her loanWe apologize that Customer feels she
received poor serviceWe strive to provide quality service to all of our
Customers and assist them through the term of their loanWe’d like to thank
Customer for her business and wish her the best
We reviewed the complainant’s account to verify the details in the complaintWe thank the complainant for bringing this to our attention, so we can better provide the utmost quality of service to our customers We would like to start by apologizing for the interaction that the complainant had with
our companyWe at Prime Acceptance Corpalways want our customers to have a positive experience no matter what circumstances they are calling underWe never want a customer who is only attempting to fulfill their end of the contract to feel as though they are being treated unfairlyWe are currently handling the matter brought up in the complaint internallyWe understand that our customers are the reason that we can continue to grow If the complainant could please contact me at 801-312-0721, I would be more than happy to discuss the issues presented in the complaint
Complaint: ***
I am rejecting this response because:
Sincerely,
*** *** Im sorry but where is your math coming from.??? even with your cents a day Fee for paying on timedays does NOT equal over $in a difference in price "I took 2nd grade math" How can you come up with very different amounts in a week? it would take over days to accrue what you overcharged meI am owed for overpayment and will seek legal counsel if it is not returned asap You need to stop taking advantage of people just because you think you can, I realize you are well adjusted to dealing with the trash of the community, but you are dealing with an educated "Med School" person nowWhen someone has that kind of money in school loans out, there are not alot of finance choicesand being *** over by a ghetto bank is something I am NOT going to do I expect the refund from my overpayment in the amount of $to be sent by next week that is a charge of $a day from the original amount I owedNOT cents "hintuse a calculator"
We apologize for the experience Customer had
with our representativesWe always strive for excellent customer service and
thank Customer for bringing this to our attention so we can review it with the
respective employees for training so they can improve in the future
We had our quality
assurance team review both
calls and address concerns with the two employeesAs requested, the VP of our loan servicing
department reached out to Customer on three occasions- twice on October and
once on October She left a voicemail on the 12th and the box was
full when she called on the 13th
If Customer would still like to speak with
the VP of our loan servicing department we encourage him to call ###-###-####
and ask for the VP of Loan ServicingWe apologize again for the sub-par
experience Customer had and hope that future interactions with us will be an
improvement
Complaint: ***
I am rejecting this response because:
Sincerely,
*** *** If this is just a "simple misunderstanding" of your shady practices, can you please tell me why I received ANOTHER bill for A DIFFERENT amount due, after RE sending my final payment? So first my payoff was $"which I believe is also incorrect, due to so many times of #s and dates changing"Then Im told I owe $THEN when everything is already paid for I get a "LATE" notice for a non late payment that tells me I only owe $ If there really was such a thing as a month loan "which there isn't, mine was a month contract" then please tell me why can't you get the correct amount for a FINAL payment down, unless you were planning on charging me for a 40th month Maybe your accounting dept is just as inept as the customer service dept, I do not know, but please come up with a CLEAR, non BS answer as to why I have THREE completely different totals as to what I owed, The $seems closest to the actual amt I owed, in which case a refund of $is owed to me promptly No more excuses that I have no idea what I am talking aboutPlease be a professional company just once and admit your mistakes and fix them
We would like to start off by thanking the complainant for bringing this to our attentionWe a PAC strive to provide the highest quality customer serviceWe take every complaint seriously, and wish to find a resolution that is amicable to both the consumer and companyAfter reviewing the complainants account to verify the details of the complaint, we have concluded that this matter is a simple misunderstandingWhile an agreement was made to settle the debt, that does not guarantee that the vehicle will not be repossessedA settlement was offered to the complainant, meaning that we agreed to a lower amount than what was owed to give the complainant the opportunity to pay off the vehicle more easilyThat does not guarantee that the vehicle would stay with the complainant until the settlement was receivedThe settlement letter sent has an expiration date of November 3rd, meaning that it will remain valid until thenWe will hold the car until that timeIf the complainant has any questions, please call 801-312-0700.?
We reviewed complainants account to verify the details in the complaintWe thank them for bringing this to our attentionWe strive to provide the highest level of customer service possibleWhile we feel it is unfortunate that complainant has had a difficult time with our company, we will address the facts of the situationWe have received letters, as well as multiple disputes from complainant stating that the vehicle was included in a bankruptcyWe have found no bankruptcy case since the inception of the contractWe have asked complainant multiple times for proof of a bankruptcyWe have not received such proofWe have also provided requested information to complainantWe will be more than happy to review this account once we do receive proof of a bankruptcy being filedWe are reporting correctly on complainants’ credit reportIf complainant would like to discuss how their account is being reported, they can call (801) 312-0761.?
We reviewed the complainant’s account to verify the details in the complaintWe thank the complainant for bringing this to our attention so we can best serve our customersWe find it unfortunate that the complainant felt that their experience was negativeWe strive to provide the highest quality customer service and take issues regarding customer service very seriouslyA cease and desist has been placed on the accountThere will no longer be any phone calls from our collections department to the complainantFDCPA §prohibits debt collectors from calling someone repeatedly or continuously with the intent to annoy, abuse, or harass any personOur company policy is to strictly adhere to the FDCPA guidelinesWe strive to both serve our customers with respect and courtesy while protecting our business interestsOur intent is not to annoy, abuse, or harass, but to provide the customer with every opportunity to stay current on their loan to keep their vehicle and maintain/improve their credit? Complainant claims that we “have no proof that the car loan was paid or that the monies were received by the car dealership.” We have attached information showing that we funded the dealership the amount agreed upon for the deal to go forwardBecause the complainant performed a voluntary surrender, the credit bureaus look at that as though the person is unable or unwilling to make their car payments, which will have a negative impact on their credit reportUntil the vehicle is paid off by either the dealer or the complainant, the loan will still appear on their credit reportThe complainant entered a legally binding contract with the dealership and our institution stating that they will continue to make payments until the term of the contract or the principal of the loan is metThe contract has been funded, and as such is enforceable until paid off by either the complainant or the dealershipWe find it unfortunate that the customer has had such a difficult time during this processif there is anything else that we can do to assist them with this problem, feel free to contact usWe will do everything on our power to resolve any problems that may arise
We reviewed Customer’s account to verify the details in the ComplaintThe dealership was closed during the time that the complainant was making payments for the vehicleWe have been trying to work with a third party bonded title company, however the owner has been unresponsive to our inquiriesWe feel that, although we are just the finance company and have no responsibility regarding the transference of title or registration to the customer, it would be irresponsible to not help a customer who is having a difficult time getting the paperwork they need to legally and properly operate the vehicle they purchasedWhile we do not agree with the actions of the owner of the title company, we have no control over whether he will return our weekly inquiries or requestsThe only person who would be able to get the paperwork that the complainant needs would be the Bonded title company ownerWe are doing everything in our power to ensure that the complainant can get the help he needsWe will continue to reach out to the title company owner and explain the situation on the complainants behalf until this comes to an amicable resolutionOne possible avenue for the complainant, seeing as though he is a Texas resident, would be to file a suit with the office of administrative hearings to determine if he has the right to a title and if the judgement were in his favor, the bonded title company would be required to get him his registration and title
We reviewed complainants account to verify the details in the complaintWe thank them for bringing this to our attentionWe try to always offer the highest possible level of customer service and care possibleThere seems to be a misunderstanding of the way a simple interest loan operatesIf complainant has any questions regarding how a simple interest loan works, they can refer to the FAQ on our website http://www.primeautoloan.com/Customers/FaqsThe same FAQ can be used to provide complainant with a possible avenue for complainant to use to refinance vehicleIf the complainant would like a copy of their contract, they can call 801-312-The person who handles this type of information will be more than happy to provide a copy of the contract to the complainantIf complainant has any other questions, they can contact us at [email protected]
We reviewed complainants account to verify the details in the complaintWe thank them for bringing this to our attentionWe try to always offer the highest possible level of customer service and care possibleWhile it was unfortunate that they had a difficult experience at the end of the loan, this seems to be a miscommunicationThe customer entered into a contract with our company, with the vehicle as collateral, that gave us express rights to repossess it if certain conditions were not met, specifically if the loan defaultedWe also retain the right to “ sell the property and apply what we receive as provided by law to our reasonable expenses of repossessing, storing, preparing for sale...” The vehicle was assigned for repo, which accrues a feeThey made a payment before the car was repossessed, which made us rescind the repo orderEven though the order was rescinded, a fee is still placed on the account, which the complainant would be responsible forAfter some conversations between the collections manager and the complainant however, the fee has been waived and the account status has been changed to “paid”The title will be released to complainant after final payment has been cleared
We feel as though there is a simple misunderstanding regarding this complaintPrime Acceptance Corpis still operating and has not been dissolvedWe are not sure how they came to the conclusion that we are no longer in businessPrime Acceptance has moved to a different locationThe information on the complainant’s credit report is accurateIf they would like to discuss this issue further, or have any other questions they would like us to answer, they can contact us at (801) 312-
We reviewed Customer’s account to corroborate the complaint Customer initiatedWe show $*** total in insurance default fees assessed on Customer’s accountThe dates individual fees were assessed were on 2/1/16, 3/1/16, and 4/1/We are unsure why Customer thinks the disputed amount is $We
also reached out to our Collateral Protection department who handles insurance on accountsAccording to them, we reached out about the missing insurance on 1/5/and Customer agreed to provide at that timeWe send multiple other messages to Customer over the following couple of months about the lack of insurance on his vehicleWe finally contacted Customer on 3/28/wherein Customer agreed to provide current declaration page as well as pay outstanding feesWe spoke with Customer again on 3/29/wherein Customer stated he was still working on providing insurance information but he had not done so yetCustomer called in on 4/20/claiming to have sent insurance information and was upset about feesHe asked to talk to a managerThe manager of the department called back and left a message on 4/21/16, but Customer never called back We reached out to the insurance company on 4/25/Customer’s insurance provider advised us that Customer allowed his insurance to lapse in and did not have an active policy until 3/15/Insurance company also confirmed they had not faxed or emailed a copy of the policy to us since there was never a request to do soWe regret Customer feels the way that he does, but we feel we did all in our power to help Customer get everything resolved and we only received updated insurance information through our own effortsWe will be waiving the 4/1/fee on Customer’s account since it was assessed after the effective date of Customer’s insurance policy
Complaint: ***
I am rejecting this response because: I was promised a letter from the prime acceptance on letterhead that my account was closed and the item may be removed from the credit report which is well within my rights I was promised to have that letter within to weekI don't care if they say they don't do deletion lettersThe fact is they are able to supply such paperwork no problem at all The account is closed with balance and they simply do not want to honor their word.
Sincerely,
*** ***
We apologize that our prior responses haven’t helped
Customer understand what is being presented and hope that this will help her
There are various amounts that Customer is referencing and they are defined as
follows:
$Past Due Amount on letter sent to customer 9/30/
$287.17- 9/28/principal balance as well as payoff sent by
Customer (note: payment was shorted by $6.88- the $of interest quoted from payoff
quote on 9/29/plus additional days of interest that accrued from 9/29/
until the payment was received on 10/2/As noted in prior response, we
cleared the $off since it was not worth our efforts to pursue, so Customer
actually paid less than was owed)
$293.46- 9/29/payoff quote (includes $principal
plus $of accrued interest)
$295.43- day payoff quoted 9/29/
$300.49- Originally contracted monthly payment amount
It appears we’ve resolved the difference between the
originally contracted payment amount and the payoffs quoted in our prior
responses and that the primary concern remaining is the amount past due versus
the payoff amountThe amount past due is the amount that a customer must pay
in order to bring their account current, which is not necessarily the same as
the payoff amount or the contracted monthly payment, as is the case here
We regret that Customer feels she has been slighted and it
appears to be a misunderstanding of what the amounts above referenceCustomer
may refer back to her statement that shows the $and note that it is
labeled as the Past Due Amount, not the Principal Balance or the Payoff Amount
We cannot disclose specific details about a customer’s
account beyond what is already part of the complaint through a 3rd party,
so if Customer’s concerns have still not been satisfied and she wants to
discuss any particular details in depth we encourage her to reach out to our
Customer Service Team at ###-###-####
We pulled Customer’s account to see what accommodations
could be made as well as to review the call frequency made to CustomerCustomer
conveyed to us early on in the loan that she could not make payments until the
end of the month, so, per her request, we changed her due date on 3/12/
from
3/18/to 4/1/and the first day of the month thereafterAfter granting the
due date change, Customer became delinquent again, and in her complaint states
that she asks us to not call her because she can only pay when it coincides with
her pay scheduleThe Retail Installment Sales Contract that Customer entered
into is clear that Customer’s loan is an installment loan that requires a
payment every monthUnfortunately, we already changed Customer’s due date to
coincide with her pay, so at this time, unless Customer makes an extra payment,
Customer will be perpetually thirty or more days past due
We have added Customer to our Do Not Call ListThis will
cease calls Customer receives; however, Customer needs to be aware that we will
not be able to reach out to Customer to make arrangements that could help
Customer get back on track if Customer is delinquentGiven what was stated in
the prior paragraph, we strongly recommend Customer become current on her loan
now and going forward
As stated in our original response, interest accrues daily so the balance will always be changingThis is not a "shady" practice; this is standard with any loanThat is why lenders will give day payoffs, day payoffs, etc As to the statements, statements are auto generated, so Customer's payoff may have crossed paths with the statement (which it appears there was a delay with your payoff since we had to reprocess Customer's final check, so this very well is likely the cause)Once an account is marked as paid in our system the statements are no longer generated. We are unsure why Customer is questioning the existence of a month loan in generalLoans can be made for any term in order to meet the needs of a customer and a lenderIf Customer will please refer to her original paperwork, the contract that she signed on 6/28/states under "SECTION B: DISCLOSURE MADE IN COMPLIANCE WITH FEDERAL TRUTH-IN-LENDING ACT" that the number of payments to be made was We are unsure why customer thinks that the term was months, but this is a misunderstanding on Customer's part. Finally, as we stated in our previous response to Customer, the loan was paid off and closed on our endIf Customer received a statement shortly thereafter that is simply because it was generated before the final payment was entered in our systemThat statement can be disregarded since the loan is closed.We hope that this resolves all of Customer's concerns and wish her the best
We attempted to review the customer’s account, but could not find any customer by that name in our systemIf the complainant were willing to provide more information, we would be more than happy to do additional research
We reviewed complainants account to verify the details in the complaintWe thank them for bringing this to our attentionWe strive to provide the highest level of customer service possibleWhile we feel it is unfortunate that complainant has had a difficult time with our company, we will address
the facts of the situationWe have received letters, as well as multiple disputes from complainant stating that the vehicle was included in a bankruptcyWe have found no bankruptcy case since the inception of the contractWe have asked complainant multiple times for proof of a bankruptcyWe have not received such proofWe have also provided requested information to complainantWe will be more than happy to review this account once we do receive proof of a bankruptcy being filedWe are reporting correctly on complainants’ credit reportIf complainant would like to discuss how their account is being reported, they can call (801) 312-0761.
We would like to start off by thanking the complainant for bringing this to our attentionWe a PAC strive to provide the highest quality customer serviceWe take every complaint seriously, and wish to find a resolution that is amicable to both the consumer and companyAfter reviewing the
complainants account to verify the details of the complaint, we have concluded that this matter is a simple misunderstandingWhile an agreement was made to settle the debt, that does not guarantee that the vehicle will not be repossessedA settlement was offered to the complainant, meaning that we agreed to a lower amount than what was owed to give the complainant the opportunity to pay off the vehicle more easilyThat does not guarantee that the vehicle would stay with the complainant until the settlement was receivedThe settlement letter sent has an expiration date of November 3rd, meaning that it will remain valid until thenWe will hold the car until that timeIf the complainant has any questions, please call 801-312-0700.
This complaint appears to be a simple
misunderstanding about how Customer’s loan workedCustomer had a simple
interest bearing amortizing loan with usInterest accrues on the loan balance
daily, which accounts for the difference in payoff amounts quoted to the
customerThis is the exact same
thing you would find on every simple interest
loan that accrues daily
At the outset of the loan the payment amount
is computed based on customer’s original loan balance, the interest rate, and
the term of the loanThe amortization schedule assumes the customer makes
their payment exactly according to the schedule (no early or late payments) If
a customer makes any payments early then less interest would accrue, so the
customer would pay off their loan quicker than the original term of the loan
If a customer makes any late payments then additional interest would accrue
(plus any late fees, if applicable), so a customer’s loan would end up going
longer than the original termOnce again, this is standard with any loan
A review of Customer’s loan shows that she
signed up for a month loan that started 6/28/The vast majority of
customer’s payments were on time; however, there were some that were late and
there was definitely variance as to the day of the month that the loan was
paid, thus the term of the loan would fluctuate accordinglyCustomer’s loan
was paid off October 2, 2012, which is almost months to the day, thus we
have not added “months onto [the] contract”Also customer hasn’t paid “thousands
in over payment” because she has followed the originally contracted term with
her regular loan paymentWe are unsure how Customer feels slighted on this
regard
Customer states that there are
misrepresentations on the billOnce again, we feel this is just a
misunderstanding and we would be happy to clarify the specificsThe bill shows
customer’s outstanding principal balanceThis is not the same as the payoff
because, as mentioned earlier, interest accrues dailyIf customer would refer
to the back of her statement it states,
“Account
Payoff Information: The outstanding balance on the front of this statement is
not your payoff amount; the balance listed on the front side of this statement
is subject to change by any pending payments and/or accrued interest or fees… To
obtain the accurate amount to payoff your loan please contact customer service
at ###-###-#### and select the option to speak with an account manager to
receive the proper payoff balance.”
Customer also alleges that we tried to “sneakily” get the
regular payment of $The fields on the bill are populated from a
databaseOne field is the principal balance, another is the contracted payment
amountThe latter does not change based on the former because it simply pulls
the contracted amount from the databaseWe are not trying to get extra
payment- if we were to receive extra payment we would actually refund it back
to Customer once the account is settled
As to the GPS, customer states that we put an “unauthorized”
tracking device on her vehicleWe never install a GPS device on a customer’s
vehicle unless we previously receive a GPS/Starter Interrupt Addendum to their
contract prior to consummation of the loanWe reviewed customer’s file and
verified we have the addendum signed by customer dated 6/28/Customer
should be able to find a copy of the addendum with her original paperwork, or
we could send Customer a copy upon her request
As to Customer’s desired resolution, Customer sent in her
final payment of $to us on October 2ndIt was short a small
amount of interest; however, we cleared the balance as it was deemed not worth
pursuing and Customer’s account was closed the same dayAccording to our
policy, title will be mailed out once we can ensure Customer’s final check
fully clearsAs to the GPS device, now that the contract is paid in full
Customer is within her rights to remove the deviceWe do not uninstall devices
since we do not have the capacity to; however, we terminate the device on our
end so it no longer sends us any infoIf customer still wishes to have the
physical device removed we recommend she take it to a car electronics store,
rather than a mechanic, but be advised that Customer is to do this at her own
risk and with her own money
Finally, Customer made a number of complaints about the
service she received during her loanWe apologize that Customer feels she
received poor serviceWe strive to provide quality service to all of our
Customers and assist them through the term of their loanWe’d like to thank
Customer for her business and wish her the best
We reviewed the complainant’s account to verify the details in the complaintWe thank the complainant for bringing this to our attention, so we can better provide the utmost quality of service to our customers We would like to start by apologizing for the interaction that the complainant had with
our companyWe at Prime Acceptance Corpalways want our customers to have a positive experience no matter what circumstances they are calling underWe never want a customer who is only attempting to fulfill their end of the contract to feel as though they are being treated unfairlyWe are currently handling the matter brought up in the complaint internallyWe understand that our customers are the reason that we can continue to grow If the complainant could please contact me at 801-312-0721, I would be more than happy to discuss the issues presented in the complaint
Complaint: ***
I am rejecting this response because:
Sincerely,
*** *** Im sorry but where is your math coming from.??? even with your cents a day Fee for paying on timedays does NOT equal over $in a difference in price "I took 2nd grade math" How can you come up with very different amounts in a week? it would take over days to accrue what you overcharged meI am owed for overpayment and will seek legal counsel if it is not returned asap You need to stop taking advantage of people just because you think you can, I realize you are well adjusted to dealing with the trash of the community, but you are dealing with an educated "Med School" person nowWhen someone has that kind of money in school loans out, there are not alot of finance choicesand being *** over by a ghetto bank is something I am NOT going to do I expect the refund from my overpayment in the amount of $to be sent by next week that is a charge of $a day from the original amount I owedNOT cents "hintuse a calculator"
We apologize for the experience Customer had
with our representativesWe always strive for excellent customer service and
thank Customer for bringing this to our attention so we can review it with the
respective employees for training so they can improve in the future
We had our quality
assurance team review both
calls and address concerns with the two employeesAs requested, the VP of our loan servicing
department reached out to Customer on three occasions- twice on October and
once on October She left a voicemail on the 12th and the box was
full when she called on the 13th
If Customer would still like to speak with
the VP of our loan servicing department we encourage him to call ###-###-####
and ask for the VP of Loan ServicingWe apologize again for the sub-par
experience Customer had and hope that future interactions with us will be an
improvement
Complaint: ***
I am rejecting this response because:
Sincerely,
*** *** If this is just a "simple misunderstanding" of your shady practices, can you please tell me why I received ANOTHER bill for A DIFFERENT amount due, after RE sending my final payment? So first my payoff was $"which I believe is also incorrect, due to so many times of #s and dates changing"Then Im told I owe $THEN when everything is already paid for I get a "LATE" notice for a non late payment that tells me I only owe $ If there really was such a thing as a month loan "which there isn't, mine was a month contract" then please tell me why can't you get the correct amount for a FINAL payment down, unless you were planning on charging me for a 40th month Maybe your accounting dept is just as inept as the customer service dept, I do not know, but please come up with a CLEAR, non BS answer as to why I have THREE completely different totals as to what I owed, The $seems closest to the actual amt I owed, in which case a refund of $is owed to me promptly No more excuses that I have no idea what I am talking aboutPlease be a professional company just once and admit your mistakes and fix them