Portfolio

This letter is in response to your complaint with the Revdex.comOur records indicate youpurchased the Portfolio Extended Service Agreement from Anaheim Mitsubishi on December 27, 2014.At the time of sale, the Jeep Commander had 65,milesThe Hi-Tech coverage was
selected fora term of years or 36,miles.I reviewed the claims history for your vehicle and showed a previous claim from May 18, for a starterreplacement that was covered by your Portfolio Service AgreementWe did not have a claim listed foryour inquiry call on December 151h, for the radiator issue or any indication that a Repair Facilitycalled to report a failure.As you stated in your complaint with the Revdex.com, your main complaint is how the contract is draftedWeprovide a listing of component "categories" or "groups" to clearly identify the specific parts that arecoveredAll of our contracts are submitted for review and approved by the State of Ca liforn ia'sDepartment of InsuranceIn order to provide coverage for a needed repair, the replacement part must bespecifically listed on the selected plan.Here is the verbiage from the Agreement:WHAT IS COVERED: Upon payment of the deductible amount per visit selected on the front of this extendedservice agreement and before the expiration of this extended service agreement, the Selling Dealer will arrange forpayment or make necessary mechanical repairs to the components listed below in the specific plan of coverageselected, without additional charge to YouReplacement of any part may be made with new parts, remanufacturedparts, non-original manufacture~s parts, or with parts of like kind and quality at the time of breakdownThis ServiceAgreement covers failure to a covered component resulting from wear and tear.The only specific items listed under the ENGINE COOLING SYSTEM are the fan, fan clutch and the fanmotor.WHAT IS NOT COVEREDAny items not listed under the "What Is Covered" section of the specific plan Youselected on the front of this Agreement.The Agreements lists general exclusions under WHAT IS NOT COVERED, but we do not attempt to listevery item that is excludedThat is why we list each individual component in order to provide coverage.I can be reached at 800-335-if you have any questions.Sincerely,*** ***Portfolio

This is a summary regarding a complaint made against our company by customer *** *** on 5/8/with theRevdex.comA claim was opened under the customers GAP contract on 9/15/We received the last of therequired documents on 12/ 30/and the claim was sent to the
underwriting department for reviewThe claim waskicked back by the underwriters on 1/26/for missed options that the primary insurance company is responsible for.We made several call attempts to the primary insurance carrier to have the vehicle reevaluated for these missedoptions*** *** was notified on 2/16/via telephone and on 2/17/via email and telephone that we wereworking on obtaining the vehicle reevaluation and have been unsuccessful in our attempts with her primary insurancecompany to obtain the required revised evaluationOn 2/19/*** exchanged emails with her GAP administratorstating that her insurance company will be sending a supplemental check to the lenderThe administrator told her thatwe need a copy of the reevaluation and supplemental check to proceed with the claimOn 4/29/the administratorcalled the insurance company because we had not received the reevaluation or check copyOn 5/7/we contactedthe lender to obtain these same documentsWe received the check copy and reevaluation report on 5/14/The claimwas sent back to the underwriters for reviewOn 5/20/we sent a check to Nissan Motor Acceptance Corp in theamount of $11,Please see the attached copy of the check.We are requesting that Ms*** contact you once the GAP payment is reflected on her account to close the complaintand confirm that she is satisfied with the resolutionIf you require any additional information, please do not hesitate tocontact usThank you,
*** ***
GAP Claims Supervisor

See Attached response to the complaint.Dear Ms***:This is a summary regarding the complaint made against our company by customer *** ***He isunsatisfied with the processing results of his GAP claim, as it was denied per the Terms & Conditions ofthe contractThe basis for the denial is
stated under EXCLUSIONS on the reverse side of his contract,which state the following:This GAP Addendum does not apply:To any losses resulting from any repairing, restoration, or remodeling process,structural, wear and tear, freezing, mechanical, or electrical breakdown or failureunless fire or other accident ensues, and then only for the loss or damage caused by suchfire or accident.The total loss of Mr***' *** *** *** was due to an axle breaking, upon which hisinsurance company, *** ***, determined the cost to repair it was greater than the vehicle valueAsper the terms above, no accident or fire ensued when the axle snapped.The processing time of business days that our company quotes is an estimated timeframe onlyTheclaims are submitted to the adjusters and then processed in the order they are receivedAdditionally, theadjusters occasionally encounter discrepancies, errors, inconsistencies, and ambiguities that needclarification, upon which additional information must be collected to accurately process the claimMr.***' claim extended beyond the typical business days due to the fact that the adjuster ran intoinaccurate information regarding the vehicle's equipped options and trim levelOur underwriting teammade several attempts to reach out to the primary insurance adjuster for the additional information thatwas needed regarding the vehicle's total loss.After reaching out to Mr***' primary insurance adjuster in regards to the details of the vehicle's totalloss, we stand by our decision to deny the claim based on the fact that the total loss was due to thevehicle experiencing a structural and/or mechanical breakdown with no link to a collision or fire.If you have any questions or need any additional information, please do not hesitate to contact me at*** *** , ext***.Sincerely,*** *** *** ***Portfolio

I am terribly disappointed with this warranty, primarily because of Portfolio's absolutely awful customer serviceWhen the power steering fluid pump on my VW Jetta needed replacing, the warranty did not cover this extremely expensive repairThat's not the real problem, howeverThe real problem is the "tieback clause" which says that if I am within miles of the dealership where I bought the car, I have to bring it there for repairsNeedless to say, I cannot drive the car to the dealership because a) I can't drive the car in case the power steering fails, and b) the dealership will be out of business and closed before I could get my car there, and repairedWhen my service rep tried to explain this to the Portfolio claims department, they would make no allowances for this impossible situationWhat they DID offer was to cover the cost of towing the car to one of two "sister dealerships", both of which are too far away for me to get to without a great deal of expense and inconvenienceOne of them isn't even a VW shop and is minutes away, and the other one is over an hour away! How is this a solution for someone who works all day long? How am I supposed to get from my home to these dealerships, without paying a great deal of money in carfare? This repair is going to cost me over $1,000, which is a huge burden, especially since my husband and I are expecting our first child, and need to save moneyAny alternative solution Portfolio offered would just mean expense and inconvenience, which is ironic, since their website says "keep your vehicle running with less worry", and "you won't get upside down, even if your vehicle is." Those slogans couldn't be less accurateThe tieback clause is a scam meant to force me into paying out of pocket to avoid making an already bad situation worsePurchasing this warranty was a total waste of money, since when I really needed help, and the situation clearly called for allowances and flexibility, Portfolio refused to help me

See attached
We received the complaint regarding Mr***’s cancellation refund on hisExpress Carefree Maintenance Vehicle Value Care Plan.The customer purchased this plan from *** *** *** *** on 9/24/15for $The customer cancelled this plan on 3/15/which
resulted in aprorated refund of $1370.42, less a $cancel fee which was waived byPortfolioThe portion of this refund that is Portfolio’s responsibility to pay is$The remaining $is due from the dealershipIf the customerhas difficulty obtaining their refund from the dealership, they may contact us &we would be happy to assist them in contacting the dealership.Portfolio issued a check for $to the customer’s lender on 4/13/for ourportion of the refundThis check was cashed on 4/20/16.If there is any additional information we can provide or if you have any questionsplease don’t hesitate to contact me.Best Regards,*** ***Director of OperationsPortfolio

This is a summary regarding a complaint made against our company by customer *** *** on 5/8/with theRevdex.comA claim was opened under the customers GAP contract on 9/15/We received the last of therequired documents on 12/ 30/and the claim was sent to the underwriting
department for reviewThe claim waskicked back by the underwriters on 1/26/for missed options that the primary insurance company is responsible for.We made several call attempts to the primary insurance carrier to have the vehicle reevaluated for these missedoptions*** *** was notified on 2/16/via telephone and on 2/17/via email and telephone that we wereworking on obtaining the vehicle reevaluation and have been unsuccessful in our attempts with her primary insurancecompany to obtain the required revised evaluationOn 2/19/*** exchanged emails with her GAP administratorstating that her insurance company will be sending a supplemental check to the lenderThe administrator told her thatwe need a copy of the reevaluation and supplemental check to proceed with the claimOn 4/29/the administratorcalled the insurance company because we had not received the reevaluation or check copyOn 5/7/we contactedthe lender to obtain these same documentsWe received the check copy and reevaluation report on 5/14/The claimwas sent back to the underwriters for reviewOn 5/20/we sent a check to Nissan Motor Acceptance Corp in theamount of $11,Please see the attached copy of the check.We are requesting that Ms*** contact you once the GAP payment is reflected on her account to close the complaintand confirm that she is satisfied with the resolutionIf you require any additional information, please do not hesitate tocontact us.Thank you,*** ***
GAP Claims Supervisor

Please see the attached responseJuly 24, 2015Revdex.comAttn: C*** ***Viewridge Ave, #200San Diego, CA 92123-1688RE: Revdex.com Complaint ID # *** ***, GAP Contract #***Dear Ms***:This
is a summary regarding the complaint made against our company by customer *** ***She is unsatisfied with the processing time of her GAP claimPer the terms of the contract it states:“You must provide the following to the Express Systems, Inc Program Claims Administrator, 1. A copy of Your Primary Carrier’s settlement showing all additions and deductions for the settlement amount and a copy of Your Primary Carrier’s checkIf You do not have Primary Carrier insurance, a copy of the police theft or accident report that identifies Your Vehicle by its vehicle identification number (VIN) must be submitted; 2. A copy of this GAP Addendum; 3. An entire copy, front and back, of the original Contract; 4. A copy of Your Primary Carrier’s Declaration Page, listing the coverage, deductible and agent’s phone number; 5. The name and address of the Lienholder and Your account number with the Lienholder; 6. The pay-off balance of Your Contract as calculated by the Lienholder at the Date of Loss; 7. A history of Your Contract showing all payments made, late charges and fees; 8. A copy of refund checks and/or authorized cancellation forms confirming the refund amount for any credit insurance, mechanical repair coverage or other similar products that were purchased and included in the financing or lease of the Covered Vehicle(Contact the Dealer that sold You the coverage.); 9. For new Vehicles only, if available, a copy of the window sticker or Vehicle invoice showing the Manufacturer’s Suggested Retail Price(Contact the Dealer that sold or leased You the Vehicle.) Proof of loss must be submitted within ninety (90) days of the date of settlement by your Primary Carrier or Date of Loss, if you do not have Primary Carrier Insurance, but in no event later than one year from the date proof was due as indicated above.The claim was opened on 1/15/15; we started to receive some of the required documents starting in April and the remaining documents in July Please see the internally received dates on the attached document checklist. The last required document was received on 7/23/and it was sent to Underwriting for review.In an effort to satisfy this customer’s request, we expedited the processing of this claimA refund will be sent to the lender on 7/24/15.We have requested that Ms*** contact you once her lender receives the GAP payment to close out the complaint and confirm that she is satisfied with the resolutionIf you have questions or need any additional information, please do not hesitate to contact me at *** ***.Thank you,*** *** ***

This is a response in regards to the complaint made by customer *** *** on 12/9/with the Better BusinessBureauAlthough, we understand that she is indicating her vehicle was equipped with the moon roof, her primary insurancecarrier did not account for this optionWe have made several attempts on her behalf to have her vehicle re-evaluatedIn aneffort to reduce any further t ime in pursuing the missed option (moon roof) the claim was processed with the providedinsurance evaluationWe did not penalize Ms*** *** for the moon roof unaccounted for by the primary carrier.At this time should the customer dispute the fact that her vehicle was indeed equipped with the moon roof, she will need todiscuss this further with her primary carrier so that they may re-evaluate on their end and issue a possible supplementalpaymentWe have requested that Ms*** contact you once the *** payment is reflected on her account to close thecomplaint and confirm that she is satisfied with the resolutionIf you require any additional information, please do nothesitate to contact usThank you,
*** ***-***
Operations Manager

Please see the attached response to the rejection of the original responseDear Mr***:
This is the 2nd letter in response to your complaint with the Revdex.comAs stated in the 1st response: We have the right to choose like kind and quality partsThe 1st paragraph on the 2nd page of your Agreement states
WHAT IS COVERED: Upon payment of the deductible amount per visit selected on the front of this extended service agreement and before the expiration of this extended service agreement, the Selling Dealer will arrange for payment or make necessary mechanical repairs to the components listed below in the specific plan of coverage Selected, without additional charge to YouReplacement of any part may be made with new parts, remanufactured parts, non-original manufacturer's parts, or with parts of like kind and quality at the time of breakdownThis Service Agreement covers failure to a covered component resulting from Wear and tearWe are not responsible for payment(s) to your lender or insurance provider while your vehicle is being repairedUnder the Agreement's section: "WHAT IS NOT COVERED" it states:
...Incidental or consequential damages or loss caused by breakdown of Components (or otherwise) including property damage, personal injury, inconvenience, loss of Your Vehicle use, damage to a covered part by a noncovered part and damage to a non-covered part by a covered partIt is in our best interest to have your vehicle repaired as soon as possibleThere were many contributing factors to the delays as stated in the previous letterIf you incurred rental expenses, we may be able to provide additional reimbursement beyond the allowance on your AgreementSincerely,
*** ***
Portfolio

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Regards,
*** *** I contacted Portfolioco on 2/16/after I had spoken with *** and they informed me the GAP claim had not been paidI was the one who contacted the insurance company and had them re-revaluate the carI sent Portfolioco an email stating the re-evaluation amount at which no time did I get a response from *** *** or *** *** both of which are useless saying they needed a copy of the check before payment could be madeNeither one them responded to my emailBut that does not excuse the fact that from 2/17/until now that the claim had not been paid and that no one contacted me in any shame, form or fashion to say they were missing documentationNor was they're sorry excuse for a claim website updated with that informationThe only reason the claim has been processed so fast is because I filed a complaint against themIf I hadn't I would still be calling and sending emails to unresponsive so called claim adjuster only to be ignoredI have basically done all the work on this claim myselfSo no, I'm not satisfied and the fact that they're basically lying about what happen only pisses me off

The company has finally decided to pay.*** ***

January 20, 2017*** ** *** *** *** *** *** ** ***
*** *** *** *** *** * ***Dear Ms***:This is letter in response to your complaint with the Revdex.comOur records indicate you purchased the Portfolio Extended Service Agreement from
Rocky Mountain Auto Brokers on March 23rd, At the time of sale, the *** *** had 78,milesThe Hi-Tech coverage was selected for a term of years or 24,miles.On 12/14/16, *** from Hub City *** in Crestview, FL called to report a problem with your vehicleThey reported the ignition coil failure and an issue with the air conditioning cooling fanThe ignition coil is not listed as a covered component on your Portfolio AgreementIn order to provide coverage for a needed repair, the replacement part must be specifically listed on your selected plan.Here is the verbiage from the Agreement:WHAT IS COVERED: Upon payment of the deductible amount per visit selected on the front of this extended service agreement and before the expiration of this extended service agreement, the Selling Dealer will arrange for payment or make necessary mechanical repairs to the Components listed below in the Specific plan of COverage selected, without additional charge to YouReplacement of any part may be made with new parts, remanufactured parts, non-original manufacturer's parts, or with parts of like kind and quality at the time of breakdownThis Service Agreement Covers failure to a covered Component resulting from Wear and tear.WHAT IS NOT COVERED Any items not listed under the “What is Covered' section of the specific plan Youselected on the front of this Agreement.The cooling fan is listed as a covered component on your Agreement and an estimate was reported to us the same dayThe part prices are approved based on the manufacturer's suggested retail price (MSRP)The labor times are approved based on an industry approved labor guideWe use All-DataThe labor time listed for each repair includes the necessary diagnostic time and the total time needed to replace the partThey should also have a labor time guide that they use for referenceWe cannot be responsible for any charges above the industry standardWe are also not responsible for any failed diagnosis on their partWe are not affiliated with Hub City ***.You referenced a diagnosis of the Powertrain Control Module PCMIt is not the same part as the Electronic ignition Module listed on the AgreementThere are some variations of terminology from different manufacturers, but we verify covered components based on the parts listing and the part number of the failed component(s). We did approve the repairs to replace the cooling fan for a total claim of $We set up the claim to pay them with a credit card over the phone, but the claim still shows a "pending" statusDecember 14th, is the last correspondence we have documented.If you have any questions or need any additional information, please do not hesitate to contact me at our Dallas office (800) 335-

In an effort to process claims quickly, we process claims with the information made available to us by the customer or by official police reports. The police report received by our office identified exclusions listed on the contract, and the claim was denied based on this information. As the denial letter stated, if new information becomes available, we will gladly review the claim for processing. Please forward any documents from the court dismissing the mentioned charges, and we will send the claim to the underwriter for review. Sincerely,
*** ***GAP Claims Supervisor

Hi Ms***,We apologize that you have not accepted our explanationOn your response it states:"I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaintFor your
reference, details of the offer I reviewed appear below
As you can see the details of why you are not satisfied was inadvertently left blankPlease let us know if we can offer additional information Thank you

Dear Mr. [redacted].This is a summary regarding the complaint made against our company by customer [redacted], on 8/23/17 with the Revdex.com. In his complaint, it is stated that we are refusing to pay the claim. A claim was opened online by Mr. [redacted] on 6/21117 and a list of required...

documents was sent to his email address he provided. On 7124117 and 8/23/17 we sent Mr. [redacted] email notices informing him we had not received all the required documents. These notices included the remaining required documents and the contact person to obtain these documents. On 8/23/17 we received the final documentation and sent the claim to our adjusters for review. They confirmed receipt of the claim and informed us they will expedite the claim for processing. Payment was issued to his lender [redacted] Bank on 8/31/17.We are requesting that once the payment has been applied to his account, Mr. [redacted] closes his Complaint.if you require any additional information, please do not hesitate to contact us.Thank you,[redacted]###-###-#### ex [redacted]

Attached is our response to Claim #[redacted], if any additional information is needed we can be reached at [email protected] or 877-705-4001 ext [redacted]

Revdex.com:
I have reviewed the response made by the business in reference...

to complaint ID [redacted], and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
[redacted]

Per the terms of the contract signed by the customer it states, “This GAP Addendum is between the Customer/Borrower (I, You or Your) and the Dealer/Financial institution (We, Us or Our), or if assigned, with the assignee. As the previous response stated, Portfolio refunded its portion of the pro-rated amount of the cancellation, which the customer has received. This portion is based off administrative fees received from the selling dealership. The dealership that the customer entered into the agreement with is responsible for the balance.

Thank you for your message.  Please see the attached response to the complaint. Feel free to contact me with any further questions. [redacted]Dear Ms. [redacted],We are writing in response to the Revdex.com Complaint filed against our company by customer [redacted]. In her...

complaint she states that we denied her GAP claim for the expiration of her GAP contract. Ms. [redacted] GAP claim was not denied. Please see the details of her GAP claim.On 10/7/2015 [redacted] contacted Portfolio to open a GAP claim for an accident that took place in November of 2010. She was given a list of the documents required to process her GAP claim. She was told that her specific contract did not expire and that we would process her claim according to the contract terms. The documents required to process her claim, are the same documents required to process all similar GAP contracts for Portfolio. We explained to her several times throughout the claims process that we understood that it was difficult for her to collect the documents we needed due to it being so many years after the date of the loss, but that we still needed the documents in order to process the claim. It is the responsibility of the customer to collect the required documents and send them to us so that we may send the claim to the underwriting department for review to determine if the claim has an amount payable under the terms of the contract. We had correspondence with Ms. [redacted] on 10/7/15, 10/9/15, 10/12/15, 10/15/15, 10/16/15, 10/19/15, 10/23/15, 10/28/15, 11/10/15, 11/16/15, and 11/17/15 before the claim was sent to the underwriting department. In each of these correspondences she was advised of the documents missing to process her claim. Our claims administrator made several outbound attempts to call her lender and insurance company to help her obtain the necessary documentation.We received the final document on 11/18/15 and the claim was sent to the underwriting department for review. On 11/18/15 the underwriters reviewed the GAP claim and determined that the claim was a “No Deficiency". Per the terms of Ms. [redacted]'s GAP contract: In the event of a total loss to the covered vehicle, we agree to waive our rights against you for the amount waived under the Financial GAP Program which is equal to the difference between your outstanding balance and the greater of (1) the primary insurance settlement plus any amounts deducted from the settlement for pre-existing damage, or (2) the actual cash value for the a covered vehicle on the date of foss. Ms. [redacted]'s unpaid loan balance at the date of the loss, per her complaint, was $5774.23. Her insurance company issued a total payment of $18,860.24 for the value of her totaled vehicle. Her lender was sent a check in the amount of $5774.23 to pay off the balance of the loan, and Ms. [redacted] received a check in the amount of $13,086.01 from the insurance company. There was no “GAP" or deficiency in her loan for Portfolio to assist with. On 11/19/15 and again on 11/23/15 Ms. [redacted] spoke with members of management at Portfolio. They diligently tried to explain how GAP contracts work, that her claim was not being denied due to the age of the claim, and that we did not know throughout the process of collecting the documents that her claim would result in a "No Deficiency". She continued to state that GAP insurance is to pay her the loan balance at the date of the loss regardless of the insurance settlement amount paying off her balance.Despite the efforts of management, Ms. [redacted] would not accept our explanation of what GAP covers, nor was she willing to accept that we processed her claim based of the contract terms she agreed to. It was clear that she was confused about the purpose for GAP insurance and we were not able to Satisfy her request.At this time Portfolio has done its due diligence in processing and adjudicating Ms. [redacted]'s GAP claim. There is no new information that would change the outcome of the “No Deficiency" determination. We are sorry that Ms. [redacted] is not satisfied and hope that this clarifies the claim status.Please contact us if you have any additional questions.Sincerely,[redacted]

Please see the attached response for complaint ID [redacted]. Thank you, [redacted]Production Manager Portfolio