Leaders Financial Company

I received your request for the police report I will get it to you todayIn regard to the damage to my rim, they tried putting a Club or something around my tire and rim so the car couldn't be driven but it kept falling off time after time and Tammy from the [redacted] kept trying to get it on and moving it shaking etc and the boot or club whatever it's called was metal and my rim is aluminum and it was recondiotioned by a body shop last year and they scratched my rim up by doing soThe club ended up just falling off anyways but that was the only attempt at trying to hook up but they couldn't even do that right and I told them they were ruining my rim and Tammy said we could take them to court they don't careIt was part of there horrible personality and being so unprofessionalI'll get the police report though like I saidThanks

Under the terms of the standard Retail Installment Sales Contract, and as a matter of our business policy, purchasing-borrowers do remain obligated to make monthly payments even when vehicles are in a state of disrepair Leaders Financial Company (“Leaders”) understand that the purchase of a vehicle is a significant financial outlay and we regret when our customers are dissatisfied with their purchase, but Leader’s can only assist dissatisfied purchasers to the extent the licensed dealership is willing to participate Ultimately, Leaders loses money on accounts for which dissatisfied customers cease making payments as obligated Leaders accepted the voluntary surrender of [redacted] vehicle, and sold the vehicle at private auction The sale resulted in a deficiency balance of $674.49, which balance was properly reported to the Credit Reporting Agencies to who we furnish information [redacted] Leaders has no record of receiving any settlement offer or payment plan, but always welcomes our customers cooperation and participation in reaching a settlement Leaders acknowledges that [redacted] did, indeed, commence paying on the aforementioned settlement We are pleased to accept the offer as stated in [redacted] complaint to the Revdex.com, as well as consider any additional offer if [redacted] would prefer a different arrangement Regarding the question/complaint regarding credit reporting, Leaders never hesitates to analyze and work with Customers who either contact Leaders directly via telephone or written letter, or indirectly contact Leaders through the Credit Reporting Agencies, to analyze and, where appropriate, edit our reporting In this incidence, we have changed our current reporting to indicate a voluntary surrender of the vehicle with [redacted] currently paying on the settled agreement Leaders cannot, however, change or revise the credit score The Credit Reporting Agencies calculate and dictate credit scores without our input (Leaders simply reports payment history)—therefore, we cannot predict how our change in reporting will affect [redacted] credit score However, upon completion of the aforementioned payment plan, Leaders will gladly revisit our reporting and assist [redacted] in further revising our reporting, as appropriate Leaders will also revisit our reporting prior to completion of payment, at [redacted] request [redacted] may also contact Leaders Compliance Department at any time, for further assistance via telephone at ( [redacted] or via email: [redacted] Thank you for alerting us to this complaint [redacted] V [redacted] , Compliance

Leaders Financial Company (“Leaders”) attaches hereto a copy of the repossession record and invoice, confirming that Leaders, through its agent, [redacted] , repossessed Ms [redacted] ’s vehicle on January 12, 2017, for which Leaders received the repossession invoice on January 13, At that time, Leader’s required the stated $1,to release the vehicle to Ms [redacted] ’s possession Ms [redacted] had not, at that time made a monthly payment since November 3, Leaders additionally has not received a payment since the date of repossession, through the date of this response.On or about February 1, 2017, Leaders transported the vehicle to the auction site, in preparation for sale Along with the additional transportation costs, the total for redemption is now $1,Leaders will accept the stated $1,(including accrued payments owing and repossession and transportation costs) in exchange for Ms [redacted] ’s redemption, and return, of the vehicle That sum does not include Ms [redacted] ’s next monthly payment, scheduled for February 8, 2017.Thank you

Leaders Financial Company (“Leaders”) confirms that, through the date of this response, it sent the following letter communications to [redacted] one letter notifying [redacted] that Leaders did not receive her first scheduled payment on the date such payment was scheduled and due—Leaders sends these letters regarding missed 1st payments upon the close of business of the fist scheduled payment (if payment is not received); five letters notifying [redacted] that it had not received subsequent monthly payments on the dates such payments became due – Leaders sends these letters days following the scheduled monthly due date (if such monthly payment is not yet received), and requesting that the customer contact the office, and; two letters notifying [redacted] that, due to an extended period of time without receipt of payment following a scheduled monthly due date, Leaders required prompt payment or it would initiate repossession proceedings—Leaders typically sends these letters days following a scheduled monthly due date (if such monthly payment is not yet received and Leaders has been unsuccessful in obtaining encouraging contact with such customer) The purpose of these letters is to formally inform customers of their payment delinquencies and, in the event that they are not aware, allow them the opportunity to protect themselves, or mitigate, against: (1) additional interest that accrues upon the principal balance of the contract when payments are delinquent, (2) late charges that are incurred days after a payment becomes due and (3) potential repossession of the customer’s vehicle if the payment delinquencies become unmanageable Late and missed payments, and repossessions, increase the costs of the installment sales contract (the loan) for both the customer and Leaders—the purpose of these letters is to facilitate scheduled payments and mitigate against escalating loan costs These letters, further, are computer generated and not meant to threaten, but rather to provide notice and information of the status of an account.Leaders also confirms that it sent three letters to the endorser (a co-signer) of the loan Leaders sends these letters to co-signers of a loan when payments have been delinquent for an extended period (typically days if Leaders has been unsuccessful in obtaining encouraging contact with the primary customer on the loan) The purpose of these letters is to provide the co-signer with notice of the delinquency and the opportunity to mitigate late and missed payments, and potential repossession costs, for all of which the co-signer bears equal liability as that of the primary customer and also reflects negatively upon the co-signer’s credit history, as well.Regarding [redacted] request for a change of scheduled monthly payment date, Leaders also confirms that it received a request on two occasions, and sent a Due Date Change form to [redacted] on October 13, and on November 29, Leaders did not receive [redacted] signed Change in Due Date form on the first occasion, and as to the more recent (second) occasion, informed [redacted] that her account must be current (or essentially current) to change the scheduled monthly due date Leaders requires the account to be current because a change in due date automatically increases the financing costs to the customer during the period of the change, because it initially adds up to two weeks additional interest accruing on the unpaid principal balance of the loan Leaders believes that adding this interest burden to an account that is already delinquent in a payment adds a potentially unmanageable burden to the customer At the time that Leaders sent the second change of notice, [redacted] was delinquent on a payment that Leaders required (and still requires) to change the scheduled monthly due date Should [redacted] bring her account current, Leaders will gladly honor her request to change the scheduled monthly due date Leaders also adds that the purpose of the Change in Due Date form is to provide the customer will full notification of the cost to such customer (in additional interest during the period of the change) of changing the due date Finally, Leaders confirms that it genuinely appreciates [redacted] seemingly earnest attempts to manager her account as the Installment Sales Contract requires through the date of this response, and reiterates that the purpose of the notice letters and other attempts to communicate (telephone or email) is to help manage the account for the mutual benefit of the customer and Leaders Going forward, Leaders encourages [redacted] to communicate directly with the Compliance Department at Leaders, at either [redacted] or [redacted] if she has any additional concerns regarding Leaders’ management of, or communications regarding, her account with Leaders

Complaint: [redacted] I am rejecting this response because: She would like to know where the car is and the exact amout of the pay out for the car Since time has passed we need to know the correct money amount.Thanks Regards, [redacted]

Complaint: [redacted] I am rejecting this response because: I have bank statements stating that I am only one month behind which is aprilWe have payments made in December One for $and one for $There was payments made in the month of JuneJune 1, $and June 15, $ Regards, [redacted]

I'm sorry about the confusion. I spoke with [redacted] and am sending her a check for $57.00.

Leaders Financial Company appreciates the opportunity to review the *** Police Department report in connection with the incident reported involving *** ***. The report seems to indicate that *** ***, in fact, followed customary procedures, cooperated with the police, dedicated additional time and resources to await the arrival of additional police personnel that *** *** requested after discussing the incident with the initial officer that *** *** summoned to his residence and did, indeed, have the correct paper work for the repossession. *** *** offered to obtain a judicial order for the repossession only after *** *** refused to cooperate with the repossession. A judicial order is not required in New Jersey for a repossession on behalf of a secured party , but is used when a repossession agent or secured party is unable to obtain repossession, due to resistance or other actions of the defaulting party, and is required to seek the assistance of law enforcement. Leaders Financial Company rescinded the repossession order on the day following the incident in response to *** ***’s full payment of the sums then owing, for which Leaders Financial Company remains greatly appreciative. Furthermore, in order foster its relationship in earnest with *** *** in anticipation of maintaining the positive direction of *** ***’s account, Leaders’ management has decided to absorb the costs of the attempted repossession, and will not apply this expense to *** ***’s account,as requested. Thank you

Complaint: ***
I am rejecting this response because: I have the paperwork from the repo and the date is dated 1/19/2017. When I called and tried to make payment 1st rep I spoke with was Erica then she(Erica) stated she couldn't take the payment because my acct was with SharonI waited for my next check which was the 1/20/so that I could send her all the documents proving income. Why would I wait another weeks to send the documents to Sharon I was transfered to SharonI went to make the payment and she( Sharon) stated I had to have to full $She WOULD NOT except No payment if it wasn't in full. I tried 2x to make a payment and Sharon denied bothShe stated I needed the full amount when actually that was not true. I could have been made the payments in question if the Rep( Sharon) providedme with the correct info and/or Took the two months payment.As for the inventory any company can finagle inventory paperwork its a press of a button to change a date. I'm just asking you to review all documents ( I have the paperwork the repo guy gave me and confirmation for the documents sent via fax). I have no problem making the payments due to the fact I was buying the car out at the end of the month. P.S. Leaders is saying I made no payment since the repossesion, I offered to pay Nov, Dec, and Jan. Leaders Rep Sharon stated I could Not make the payments.I will forward you any documentation if needed
Regards,
***

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID *** and find that this resolution is satisfactory to meThank you so much for your help and dedication to keeping companies compliantI also would like to thank Leaders for doing the right thing in this matterThanks again,
Regards,
*** ***

*** *** did, indeed, pay his account in full as stated, on August 16, 2016. On September 12, 2016, Leaders Financial Company (“Leaders”) mailed his Certificate of Title, stamped as paid with Leaders’ lien marked as released, to the address that *** *** provided for his account
(which is the same address as *** *** states in his complaint) Unfortunately, it appears that the Certificate of Title was lost in the mail, or did not otherwise arrive to *** *** possession at the stated address.*** *** called Leaders on September 27, 2016, to inform that he had not received the Certificate of Title. Concluding that the Certificate of Title was lost, Leaders, on September 27, 2016, sent a lien release letter that *** *** may present at, or mail to, the New Jersey Motor Vehicle Commission and obtain a duplicate Certificate of Title. During the phone call between *** *** and Leaders on September 27, 2016, Leaders explained these circumstances to *** *** and promised that Leaders would reimburse *** *** for the costs of obtaining the new, duplicate Certificate of Title. Leaders certainly intends to honor this promise.Leaders understands *** *** frustration with not having received his Certificate of Title as he and Leaders both expected, and apologizes for the inconvenience of having to obtain a duplicate Certificate of TitleLeaders appreciates *** *** patronage and regrets that the Certificate of Title did not arrive in the mail

Leaders Financial Company previously stated on February 2, (the date of foreclosure) the sum of $1,650.10, and followed later that day in response to Ms***’s Revdex.com Complaint that $1,was required. Leaders on multiple occasions provided certified notice(s) of default and notice of sale. However, lacking successful resolution to Ms***’s default, Leaders Financial Company disposed of the vehicle at auction on February 14,

Leaders Financial Company understands that making payments as contractually promised can become difficult despite expectations when entering into a loan agreement. We strive to make loans to individuals whom we deem credit worthy, but as is the nature of the business, some customers for a
variety of reasons find themselves unable or unwilling to meet their payment obligations. *** *** was late in making his first payment and throughout the term of the loan became progressively later in each payment cycle and eventually missed several payments, altogether. *** *** made numerous verbal promises to both (1) make payments and (2) remain in contact with Leaders Financial Company, but grew increasingly elusive and unable or unwilling to communicate with Leaders regarding his delinquencies. Indeed, *** *** was behind on payments and did not become current until Leaders initiated the repossession.Regarding the $charge for the repossession activity, Leaders may, based on its loan contract with *** ***, charge *** *** for repossession costs that Leaders incurs. We do not intend to absorb the cost of our attempted repossession and expect *** *** to pay the fees as charged. Incidentally, the sole reason that Leaders was unable to complete the repossession was *** ***’s summoning of the police department, who asked our repossession agent to temporarily cease the repossession action at the time of the incident. Our repossession agent willingly waited and spoke with the police, who did not find any violation regarding the repossession. We have requested from *** *** a copy of the police report in order to help us verify the facts (or at least the disputed statements), but have not received a cop7y from *** *** at this point in time. The $fee reflects the (1) request for service and response thereto, regardless of whether the repossession is successful, plus (2) the three hours of time *** *** expended in attempting to obtain possession of the vehicle and waiting for and speaking with the *** police department, including the initial officers who responded to *** ***’s call and then subsequently to *** ***’s demand for a “Sergeant” to appear on the case, requiring *** *** to remain for and additional period To reiterate, Leaders initiated the repossession due to *** ***’s multiple defaults on the contract, and Leaders does not intend to absorb the repossession costs.Regarding the repossession agent, we have a long standing relationship with *** ***. This is the first complaint that we have received related to *** ***. Certainly, we will monitor *** ***’s work more closely going forward to enable us to determine whether any negative pattern exists or arises. We monitor and track all of our service providers as a matter of course, but when complaints arise we always take them as an opportunity to provide greater scrutiny and hopefully better customer service. Regarding this incident, we contacted and extensively questioned *** *** regarding the incident, and received testimony that was the complete opposite of *** ***’s testimony on every material fact. As stated, based upon our positive history with *** ***, and lacking any prior complaints or incidences of any misconduct, we are unable to draw conclusions against *** *** from this incident. Leaders Financial Company asserts that it did not violate any provision of the Fair Debt Collection Practices Act

Complaint: [redacted]
I am rejecting this response because: She would like to know where the car is and the exact amout of the pay out for the car.  Since time has passed we need to know the correct money amount.Thanks
Regards,
[redacted]

Leaders Financial Company (“Leaders”) confirms that, through the date of this response, it sent the following letter communications to [redacted] one letter notifying [redacted] that Leaders did not receive her first scheduled payment on the date such payment was scheduled and due—Leaders...

sends these letters regarding missed 1st payments upon the close of business of the fist scheduled payment (if payment is not received); five letters notifying [redacted] that it had not received subsequent monthly payments on the dates such payments became due – Leaders sends these letters 10 days following the scheduled monthly due date (if such monthly payment is not yet received), and requesting that the customer contact the office, and; two letters notifying [redacted] that, due to an extended period of time without receipt of payment following a scheduled monthly due date, Leaders required prompt payment or it would initiate repossession proceedings—Leaders typically sends these letters 21 days following a scheduled monthly due date (if such monthly payment is not yet received and Leaders has been unsuccessful in obtaining encouraging contact with such customer).  The purpose of these letters is to formally inform customers of their payment delinquencies and, in the event that they are not aware, allow them the opportunity to protect themselves, or mitigate, against: (1) additional interest that accrues upon the principal balance of the contract when payments are delinquent, (2) late charges that are incurred 10 days after a payment becomes due and (3) potential repossession of the customer’s vehicle if the payment delinquencies become unmanageable.  Late and missed payments, and repossessions, increase the costs of the installment sales contract (the loan) for both the customer and Leaders—the purpose of these letters is to facilitate scheduled payments and mitigate against escalating loan costs.  These letters, further, are computer generated and not meant to threaten, but rather to provide notice and information of the status of an account.Leaders also confirms that it sent three letters to the endorser (a co-signer) of the loan.  Leaders sends these letters to co-signers of a loan when payments have been delinquent for an extended period (typically 21 days if Leaders has been unsuccessful in obtaining encouraging contact with the primary customer on the loan).  The purpose of these letters is to provide the co-signer with notice of the delinquency and the opportunity to mitigate late and missed payments, and potential repossession costs, for all of which the co-signer bears equal liability as that of the primary customer and also reflects negatively upon the co-signer’s credit history, as well.Regarding [redacted] request for a change of scheduled monthly payment date, Leaders also confirms that it received a request on two occasions, and sent a Due Date Change form to [redacted] on October 13, 2017 and on November 29, 2017.  Leaders did not receive [redacted] signed Change in Due Date form on the first occasion, and as to the more recent (second) occasion, informed [redacted] that her account must be current (or essentially current) to change the scheduled monthly due date.  Leaders requires the account to be current because a change in due date automatically increases the financing costs to the customer during the period of the change, because it initially adds up to two weeks additional interest accruing on the unpaid principal balance of the loan.  Leaders believes that adding this interest burden to an account that is already delinquent in a payment adds a potentially unmanageable burden to the customer.  At the time that Leaders sent the second change of notice, [redacted] was delinquent on a payment that Leaders required (and still requires) to change the scheduled monthly due date.  Should [redacted] bring her account current, Leaders will gladly honor her request to change the scheduled monthly due date.  Leaders also adds that the purpose of the Change in Due Date form is to provide the customer will full notification of the cost to such customer (in additional interest during the period of the change) of changing the due date.  Finally, Leaders confirms that it genuinely appreciates [redacted] seemingly earnest attempts to manager her account as the Installment Sales Contract requires through the date of this response, and reiterates that the purpose of the notice letters and other attempts to communicate (telephone or email) is to help manage the account for the mutual benefit of the customer and Leaders.  Going forward, Leaders encourages [redacted] to communicate directly with the Compliance Department at Leaders, at either [redacted] or [redacted] if she has any additional concerns regarding Leaders’ management of, or communications regarding, her account with Leaders.

I received your request for the police report I will get it to you today. In regard to the damage to my rim, they tried putting a Club or something around my tire and rim so the car couldn't be driven but it kept falling off time after time and Tammy from the [redacted] kept trying to get it on and moving it shaking etc and the boot or club whatever it's called was metal and my rim is aluminum and it was recondiotioned by a body shop last year and they scratched my rim up by doing so. The club ended up just falling off anyways but that was the only attempt at trying to hook up but they couldn't even do that right and I told them they were ruining my rim and Tammy said we could take them to court they don't care. It was part of there horrible personality and being so unprofessional. I'll get the police report though like I said. Thanks

Complaint: [redacted]
I am rejecting this response because: The repo agent one broke the peace of the attempted repo that by law makes it a wrongful repossession. Secondly the police responded and told the agent he didn't have the correct or legal paperwork to reposess the car or follow [redacted] protocol. If the repo agent had correct paperwork the police department would have done there job by enforcing the car be given to them. The agent was told he did not have the correct paperwork that night and that if he did obtain the paperwork they would come back with him and enforce it. Whether you believe my story or the agents story why would the police not enforce the law?? They didn't because they didn't have the correct paper work and the police told him that and the agent acknowledged he didn't. Also he never repossessed the car or even hooked up to it. My contract doesn't say looking for a car to repossess constituens a valid repo again making it a wrongfully repo. The law reads if the client is wrongfully charged and the client wins and I was told by 3 different lawyers I would have no problem proving I was correct they need to pay 3 times the amount which would be 1200 plus attorney fees I addition the agent did damage to my rim that was just reconditioned a fewonthd prior. I refuse to pay for something that was done illegally, incorrect, and unprofessionally. My fiancé is in school to be a Dr and is already a mental health counselor and was a witness to this agent acting loud and lunging and her. My neighbor also heard and saw him screaming at me. The law clearly states a repo agent may not breach the peace and he did. Also they didn't bring and tow truck they never hooked up a tow truck or attempted to. So how could I be responsible for paying $400 for something they one didn't do and secondly acted totally out if his boundaries. If the $400 isn't dropped I will take this to court with my witnesses, and point out the 2 laws they broke and sue for the wrongful repo.   The police dept is ordered to do there job and as noted not only officers responded but a supervisor did and showed the agent the paperwork was wrong. If it was correct they would have enforced it. I'll even suppnea the officers. I'm not gonna get bullied to pay like the repo agent bullied me the night he came. If I need to go to court in ready. In my opinion it would be cheaper for the company to drop the $400 fee or my neighbors, my fiancé, and myself will testify that this agent was breaching the peace. Thank you b
Regards,
[redacted]

Leaders Financial Company (“Leaders”) confirms that [redacted] missed two payments, in addition to making two delinquent payments.  Leaders communicated with [redacted] on several occasions in order to find a solution that would bring and reasonably maintain the account status as “Current” (we...

note that early in the term of the agreement Leaders accommodated a change in the monthly due date on the account in order to assist [redacted] in managing her funds), but [redacted] expressed difficulty and uncertainty regarding her ability to meet payment obligations on the account.  Based upon these conditions, Leaders determined that the prudent action for both parties would be to repossess and charge-off the account (which would terminate additional accrual of interest owing).At [redacted]’s request following the repossession, Leaders offered [redacted] the opportunity to redeem the Vehicle—this offer remains an option for [redacted] for at least 10 days from the date upon which Leaders commenced its foreclosure procedure (on November 15, 2017), at which point Leaders will deliver the Vehicle for auction proceedings.  The current offer enables [redacted] to redeem the Vehicle in exchange for $1,239.63, plus any storage fees which the repossession agent may charge, independent of, and in addition to, Leaders’ required sum of $1,239.63.  The sum of $1,239.63 payable to Leaders includes: two past due monthly payments of $283.21 each, the $350.00 repossession expense (which the repossession agent charges Leaders), $40.00 in existing late charges, plus a third monthly payment of $1,239.39, which payment will be due upon November 19, 2017.If Leaders undertakes the sale of the Vehicle (most likely at auction), any proceeds that Leaders derives from the sale will be credited against the balance owing on the Retail Installment Sales Contract (the “RISC”), which is currently $5,700.46.  If the proceeds from the sale amount to less than the balance owing Leaders on the RISC, [redacted] will remain responsible for such deficiency balance.  (If the proceeds from the sale amount to more than the balance owing Leaders on the RISC, Leaders will provided [redacted] with the surplus funds—although a surplus is considered an unlikely outcome).    Leaders remains available to discuss other solutions or settlement options with [redacted], prior to or following the sale of the Vehicle, should the parties agree on, and [redacted] continue to seek, a viable solution.

I'm sorry about the confusion.  I spoke with [redacted] and am sending her a check for $57.00.

Complaint: [redacted]
I am rejecting this response because:
 I have bank statements stating that I am only one month behind which is april. We have 2 payments made in December 2014. One for $130 and one for $275.41. There was 2 payments made in the month of June. June 1, $275.41 and June 15, $275.41
Regards,
[redacted]