Innovative Funding Services LLC

Again, thank you for allowing us the time to respond.  In regards to the claim, there are 2 issues we are discussing.  1)  The process and 2) An amount of $864.  We will address each one here.  On the process, the transaction did not get fulfilled, whichis a lose for all parties involved.  We appreciate the emails being attached, we have all of those emails as well, along with additional emails regarding the transaction.  On the sample emails provided, you can clearly see on the dates of 3-4,3-5 and 3-31 we were waiting on documents, requesting documents or attempting to fix missing or incorrect pages.  We have additional emails in the gaps of 3-5 to 3-31 supporting more issues.  If the representative at the Revdex.com would like us to upload those we certainly can.  IFS takes its share of responsibility for not being able to get this transaction fulfilled in a timely manner.  Several factors by all parties could have gone smoother. We routinely review processes and procedures to attempt to satisfy every customer.  On the issue of compensation of $864 for payments and late fees.  IFS stands by it's previous decision on compensation and offer to pay the 1 late fee.  By the application date, normal bank late fee application and charges, the process could have at most caused a charge of 1 late fee.  Even if the loan transaction had been fulfilled, the consumer would have still been responsible for the car loan payments.  The transaction started on 2-24-2015.  Banks access late fees normally 15-30 days after the due date.  Unless the consumer was already past due, the late fees accessed would have occurred on 3-11-2015.  If a second late fee occurred on or around 4-10-2015, IFS would also be agreeable to pay the 2nd late fee.  As far as the vehicle payments and principal part of the loan.  IFS is not responsible for vehicle payments owed by the consumer.  In regards to the late payments, please attach bank records showing the loan, late payment amount, and date assessed for reimbursement.  IFS has your address on file in our system and would immediately remit that amount to you.  With all financial transactions, such as refinancing of loans, the sale of homes, cars, boats etc., it is the consumers responsibility to maintain payments on the assets until verified proof of payoff has been received by their owning financial institution.

Mr. [redacted],  The Florida Department of Motor Vehicles has finally processed your title.  The title will be held electronically. I have attached a lien confirmation pulled from the FL website for your review.  IFS would like to apologize for the delay but it seems that the DMV office in Hillsborough had an employee that was rejected our mailed in applications.  She preferred to have them walked into the office.  After elevating this issue to her supervisor, the title was finally processed. IFS would like to apologize for the delay.

IFS has sent Mr. [redacted] a check for the key replacement and programming.  Additionally, IFS has sent Mr. [redacted] a link to obtain the owners manual and the fee to cover the costs of this replacement.  A check for the registration has been sent to Mr. [redacted] with directions on how to...

obtain his registration.  Due to the time delay and inconveniences experienced by Mr. [redacted], IFS also returned the service fee to the customer.  Mr. [redacted] should be updating his response as IFS has completed all of his requests.

IFS apologizes for any confusion with regard to who would be extending the loan. Currently, IFS works with customers to find them a lender and limiting the total number of inquiries.  IFS has submitted a request to remove the credit inquiry. Thanks

[redacted],Innovative Funding Services (IFS) as well as some other companies advertise that we can assist customers. With regard to providing your approval in order to obtain credit, most providers such as [redacted] disclose in their terms and conditions that credit may be obtained and by...

hitting submit you are authorizing lenders to check your credit.  The initial offer you received is a pre-approval, which is preliminary offer based on limited information.  When considering your loan application, IFS considers additional factors such as your vehicle's value, employment status, debt to income, etc before we can sent it to any of our lenders.  As a one time courtesy, IFS will remove this credit inquiry.  Thanks.

Complaint: [redacted]
I am rejecting this response because:This transaction took place in late June/early July 2017.  It has been more than 90 days since this transaction has been executed and for a broker to justify that this is till not resolved AFTER they have been fully paid is unacceptable.   The broker has failed to return my calls, has failed to rectify their error, has failed to keep me informed.More importantly, the problem has not been resolved in what is now about 100 days.  Why not?
Regards,
[redacted]

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.
Regards,
[redacted]

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.  
Regards,
[redacted]

Mr. [redacted], Innovative Funding Services, L.L.C. (IFS) received your information from [redacted].  On their website, it details that you are providing your permission to have lenders obtain your credit information. Since there appears to be some confusion over the process, IFS will...

submit a credit removal request to Equifax to have this inquiry removed.  It may take up to 30 days to be removed from your credit bureau.  Additionally, you might want to review the website www.myfico.com to learn more about credit inquiries and their affect on your credit report.  Please let us know if you have any additional questions.  Thanks

When Mr. [redacted] decided to purchase the optional Tire and Wheel coverage, he signed two different documents indicating that he wished to purchase this item and also had the ability to request a cancellation within the first 30 days of obtaining the loan.  Innovative Funding Services, L.L.C. has...

spent several days trying to assist Mr. [redacted] with his claim with the tire and wheel provider.  Since the previous tires had been destroyed, Mr. [redacted] obtained a diagnosis letter from this tire center provider.  After review of the details by the tire and wheel provider, the claim for the replacement of the left front and right front tire were denied as damages present these tires.  Under the terms and conditions of Mr. [redacted] tire and wheel agreement, shifted/broken belts and cupping are exclusions of this agreement and are not eligible for coverage. These details can be found on page two under "Non- Covered Expenses" and "Limited Agreement Exclusions". IFS has spent a lot of time and effort in assisting Mr. [redacted] with his claim but unfortunately the claim was denied by the provider.

Mr. [redacted] bought the car from Avis/Budget.  Since Avis financed the vehicle with the Bank of New York, there was a lien outstanding on the vehicle which had to be paid off.  IFS (Innovative Funding Services) assisted with the financing of the vehicle which was completed on March 18,...

2016.  From that date, IFS sent the funds to pay off AVIS/ Budget.  By law, the Avis/Budget has 30 days to provide us a title.  The title was received from Avis/Budget on March 30, 2016.  Once the title is received, IFS has to start the title paperwork with the State of New York to complete get the registration of the vehicle.  From that point, New York Department of Motor Vehicles (NY DMV) normally takes 45-60 days to process the title. The title was sent to the NY DMV on 4/13/16 and IFS is in contact with the Department to register the vehicle.  However, IFS cannot determine when the title process will be completed.  IFS has offered to return its documentary fees of $163.30 to resolve this complaint.    Tell us why here...

Complaint: [redacted]
I am rejecting this response because:1. I do not want to talk on the phone to this company, they had their chance several times. I have communicated through email to make 100% sure everything is documented.2. If this company could actually read my complaint, I never questioned the rates. Their dishonesty lies in quoting me a payment of $762.42 for my F-250 then a day later had me sign documents that have my monthly rate as 762.42. This company is so disorganized they don't even grasp the complaints.3. My advice to IFS is to get it right the first time. In the future they need to be courteous, responsive, quick and honest. Double check your numbers before you send out bs monthly rates. Read your employees email correspondence with me. Be sure to look at responses and time frames. 4. As of right now DATCU has yet to receive the remaining payment.
Regards,
[redacted]

As Mr. [redacted] claims, he did make a purchase of an Avis vehicle through IFS.  IFS arranges the sale of Avis vehicles.  At time of purchase, Mr. [redacted] was promised new tires by Avis.  At completion of sale this was arranged through Avis.  Unfortunately the wrong tires were...

ordered for the vehicle.  IFS does not control the repair process for Avis, we just assist in coordinating.  Both IFS and Avis did a poor job of communicating with Mr. [redacted] about the incorrect tires being ordered and the delay.  We have assigned manager [redacted] to the account to coordinate communication the completion of the tire issue.  [redacted] left a message for Mr. [redacted] yesterday to coordinate.  We apologize to Mr. [redacted] for the delay in getting this matter resolved.

This loan has been paid off as verified on March 17, 2016.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is a step forward in making this service comfortable for the customer.  The customer needs to know that they can use their own financing for the product if they desire without added expense.  Making the sale dependent on IFS finance terms is very awkward and restricting to the client.  I believe you will find a workable solution to make this service useful.  
Regards,
[redacted]

We apologize for any confusion with regard to your application. When you submitted your application via Credit Karma, you provided your consent to have your credit obtained. We pulled your credit report shortly after you submitted your loan application per your permission. At your request, we closed...

your application, which does not remove the credit inquiry. IFS has provided you with a copy of the appropriate disclosures. Due to the misunderstanding, IFS will remove the credit inquiry.

Ms. [redacted], Thank you for providing us the details regarding this transaction.  Innovative Funding Services, L.L.C. (IFS) was not aware that this inquiry was not authorized by you until receiving this complaint.  IFS generally receives notification from customers and will...

review any complaints and remove inquiries as necessary so customers do not have to contact the Revdex.com.After reviewing the facts, IFS will send a credit removal request to Equifax.  Equifax may take up to 30 days to remove the hard inquiry.  IFS will also send you a copy of this request with your social security number masked for your records.  IFS strives to ensure its reporting to the credit bureaus is accurate.  Please let us know if you have any other concerns by reaching directly to our Compliance Manager at [redacted].  Thank you.

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 accept the resolution pending the removal of the inquiry as indicated. As of March 1, 2018, this inquiry remains. As an addendum, I would like to see the company stop advertising rates and payments as part of their marketing, considering these are not actual rates or payment plans that the company offers, they are estimates of third party offerings.  I believe that if the company desires to operate in good faith with their customers, that would show by their removing of the misleading advertisements.
Regards,
[redacted]

Complaint: [redacted]
I am rejecting this response because:You can disagree about opinions but you can't disagree about facts. Your company representative contacted me at 11:15am, requesting me to call him directly while he made himself unavailable for the entire work day. Remove the hard inquiry due to your company's failure and move on to the next case. Thank you.
Regards,
[redacted]

Mr. [redacted] applied for an auto loan through our company on 2-25-15 at 11:12am.  As the website states, please allow 48 hours for contact with a finance advisor.  Our finance advisor attempted first contact with Mr. [redacted] on 2-25-15 at 5:15pm. The reason for this is that we have many...

lenders that we work with and tens of thousands customers a month to assist.  We apologize for calling at a time Mr. [redacted] deemed as chaotic.  When you assist tens of thousands of customers monthly across the U.S., in all times zones, it is impossible to guess at someone's schedule during the day.  IFS could have very easily competed with the credit union he chose, but he did not allow the process to vet out the way it is explained on our website.  IFS disagrees with Mr. [redacted]'s assertion of inept service and poor handling.  IFS is a top tier company that, if given the opportunity by being patient and allowing the process to work the way it is explained, more than likely would have resulted in Mr. [redacted] getting a better loan than the one he had, and the one he just was approved for.  In regards to the statement of "There's no excuse to justify the poor handling of a simple auto loan and more importantly, no reason as to why someone should have a company such as IFS run a hard inquiry on their credit."  Mr. [redacted] by applying with IFS gave consent to pull credit when he applied.  This is clearly outlined on our site and is copied here "In processing your application, IFS and one or more of its affiliates may acquire your credit report. By signing this document you give explicit authorization to IFS and/or its affiliate lenders to obtain your credit report.'.  Since credit has been run, we would be happy to escalate the matter to a manager to see if we can beat the offer that Mr. [redacted] received.  We are very glad to hear Mr. [redacted] was able to secure a better loan offer for his automobile.