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-
We reviewed Customer’s account to verify the details in the ComplaintCustomer’s vehicle was damaged while being driven by the complainant, who was not a listed driver on the policy at the time of the accidentTherefore, there was no coverage extended by the insurance companyThey denied the claim due to this reason, which we have a copy ofWe regret that we can’t help more with thisWe want this vehicle fixed as well, but unfortunately the insurance provider is a third party over whom we have no controlWe are not sure why this complaint was submitted to us, we recommend that the complainant and customer contact the insurance provider and attempt to come to a more amicable resolution
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
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 appreciate that complainant makes consistent payments every monthHowever, as stated before, we do not have the capability to refinance vehiclesAs stated in our FAQ, “As a loan origination company, PAC does not currently offer refinancing optionsCustomers are encouraged to make payments on time for a minimum of months to build their ‘auto credit’Once you’ve built or re-established your credit, you may consider applying to refinance with another financial institution, such as a bank or credit union.“ When complainant entered into the contract with the dealership, we agreed to finance the vehicleWhen we agreed to finance the vehicle, we paid a sum of money to the dealershipBecause of the sum of money that we offered the dealership to finance the loan, it would be untenable to lower the amount owedComplainant is encouraged to go to an institution that they have a strong relationship with, such as a bank or credit union, and attempt to get the loan refinancedIf the customer has any unresolved issues regarding the amount owed, they can refer to the truth in lending disclosure at the top of the contractAs noted in the previous response, they can call (801) 312-to get another copy of their contract
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 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 ###-###-####
Complaint: ***
I am rejecting this response because they have not offered a solution to my high dollar loan. They wrote a loan for $14,for a Saturn. That is almost double Kelly Blue Book value. I want the loan amount adjusted to an amount in line with the actual value of the vehicle. I understand how a simple interest loan works and don't need the generic FAQ link to their site. They can see that I make my payment EVERY month. I'm no longer a high risk customer for this loan
Sincerely,
*** ***
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
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me
Sincerely,
*** ***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to meJust for clarity, I was advised by Account Manager, AJ, that the repo fees would be waived making the car paid in full, the title of the vehicle would arrive by mid July and the status of my car would reflect as, "Paid", with the company and my credit report.
Sincerely,
*** ***
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
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 backWe 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
We would like to start off by thanking the complainant for bringing this to our attention. We a PAC strive to provide the highest quality customer service. We take every complaint seriously, and wish to find a resolution that is amicable to both the consumer and company. After reviewing the...
complainants account to verify the details of the complaint, we have concluded that this matter is a simple misunderstanding. While an agreement was made to settle the debt, that does not guarantee that the vehicle will not be repossessed. A 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 easily. That does not guarantee that the vehicle would stay with the complainant until the settlement was received. The settlement letter sent has an expiration date of November 3rd, meaning that it will remain valid until then. We will hold the car until that time. If the complainant has any questions, please call 801-312-0700.
As stated in our original response, interest accrues daily so the balance will always be changing. This is not a "shady" practice; this is standard with any loan. That is why lenders will give 3 day payoffs, 10 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 39 month loan in general. Loans can be made for any term in order to meet the needs of a customer and a lender. If Customer will please refer to her original paperwork, the contract that she signed on 6/28/2012 states under "SECTION B: DISCLOSURE MADE IN COMPLIANCE WITH FEDERAL TRUTH-IN-LENDING ACT" that the number of payments to be made was 39. We are unsure why customer thinks that the term was 36 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 end. If Customer received a statement shortly thereafter that is simply because it was generated before the final payment was entered in our system. That 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 apologize for the experience Customer had
with our representatives. We 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 employees. As requested, the VP of our loan servicing
department reached out to Customer on three occasions- twice on October 12 and
once on October 13. 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 Servicing. We apologize again for the sub-par
experience Customer had and hope that future interactions with us will be an
improvement.
We reviewed complainants account to verify the details in the complaint. We thank them for bringing this to our attention. We strive to provide the highest level of customer service possible. While we feel it is unfortunate that complainant has had a difficult time with our company, we will address...
the facts of the situation. We have received letters, as well as multiple disputes from complainant stating that the vehicle was included in a bankruptcy. We have found no bankruptcy case since the inception of the contract. We have asked complainant multiple times for proof of a bankruptcy. We have not received such proof. We have also provided requested information to complainant. We will be more than happy to review this account once we do receive proof of a bankruptcy being filed. We are reporting correctly on complainants’ credit report. If 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 complaint. We would like to start off by thanking the complainant for bringing this to our attention, so we can better provide the utmost quality of service to our customers. It is unfortunate that this error has occurred. We strive...
to provide the most up to date information to the credit reporting agencies. There seem to have been a software error when the information was sent to the reporting agency. The error has been addressed and a manual change has been made to the complainant’s report. The update will show up at the beginning of January. Proof of the update can be provided at the complainants request. If this issue persists after the update takes effect, please contact me at 801-312-0721.
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-
We reviewed Customer’s account to verify the details in the ComplaintCustomer’s vehicle was damaged while being driven by the complainant, who was not a listed driver on the policy at the time of the accidentTherefore, there was no coverage extended by the insurance companyThey denied the claim due to this reason, which we have a copy ofWe regret that we can’t help more with thisWe want this vehicle fixed as well, but unfortunately the insurance provider is a third party over whom we have no controlWe are not sure why this complaint was submitted to us, we recommend that the complainant and customer contact the insurance provider and attempt to come to a more amicable resolution
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
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 appreciate that complainant makes consistent payments every monthHowever, as stated before, we do not have the capability to refinance vehiclesAs stated in our FAQ, “As a loan origination company, PAC does not currently offer refinancing optionsCustomers are encouraged to make payments on time for a minimum of months to build their ‘auto credit’Once you’ve built or re-established your credit, you may consider applying to refinance with another financial institution, such as a bank or credit union.“ When complainant entered into the contract with the dealership, we agreed to finance the vehicleWhen we agreed to finance the vehicle, we paid a sum of money to the dealershipBecause of the sum of money that we offered the dealership to finance the loan, it would be untenable to lower the amount owedComplainant is encouraged to go to an institution that they have a strong relationship with, such as a bank or credit union, and attempt to get the loan refinancedIf the customer has any unresolved issues regarding the amount owed, they can refer to the truth in lending disclosure at the top of the contractAs noted in the previous response, they can call (801) 312-to get another copy of their contract
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 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 ###-###-####
Complaint: ***
I am rejecting this response because:
Sincerely,
*** *** Please get your story and amounts straight
Complaint: ***
I am rejecting this response because they have not offered a solution to my high dollar loan. They wrote a loan for $14,for a Saturn. That is almost double Kelly Blue Book value. I want the loan amount adjusted to an amount in line with the actual value of the vehicle. I understand how a simple interest loan works and don't need the generic FAQ link to their site. They can see that I make my payment EVERY month. I'm no longer a high risk customer for this loan
Sincerely,
*** ***
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
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me
Sincerely,
*** ***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to meJust for clarity, I was advised by Account Manager, AJ, that the repo fees would be waived making the car paid in full, the title of the vehicle would arrive by mid July and the status of my car would reflect as, "Paid", with the company and my credit report.
Sincerely,
*** ***
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
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 backWe 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
We would like to start off by thanking the complainant for bringing this to our attention. We a PAC strive to provide the highest quality customer service. We take every complaint seriously, and wish to find a resolution that is amicable to both the consumer and company. After reviewing the...
complainants account to verify the details of the complaint, we have concluded that this matter is a simple misunderstanding. While an agreement was made to settle the debt, that does not guarantee that the vehicle will not be repossessed. A 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 easily. That does not guarantee that the vehicle would stay with the complainant until the settlement was received. The settlement letter sent has an expiration date of November 3rd, meaning that it will remain valid until then. We will hold the car until that time. If the complainant has any questions, please call 801-312-0700.
As stated in our original response, interest accrues daily so the balance will always be changing. This is not a "shady" practice; this is standard with any loan. That is why lenders will give 3 day payoffs, 10 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 39 month loan in general. Loans can be made for any term in order to meet the needs of a customer and a lender. If Customer will please refer to her original paperwork, the contract that she signed on 6/28/2012 states under "SECTION B: DISCLOSURE MADE IN COMPLIANCE WITH FEDERAL TRUTH-IN-LENDING ACT" that the number of payments to be made was 39. We are unsure why customer thinks that the term was 36 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 end. If Customer received a statement shortly thereafter that is simply because it was generated before the final payment was entered in our system. That 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 apologize for the experience Customer had
with our representatives. We 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 employees. As requested, the VP of our loan servicing
department reached out to Customer on three occasions- twice on October 12 and
once on October 13. 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 Servicing. We apologize again for the sub-par
experience Customer had and hope that future interactions with us will be an
improvement.
We reviewed complainants account to verify the details in the complaint. We thank them for bringing this to our attention. We strive to provide the highest level of customer service possible. While we feel it is unfortunate that complainant has had a difficult time with our company, we will address...
the facts of the situation. We have received letters, as well as multiple disputes from complainant stating that the vehicle was included in a bankruptcy. We have found no bankruptcy case since the inception of the contract. We have asked complainant multiple times for proof of a bankruptcy. We have not received such proof. We have also provided requested information to complainant. We will be more than happy to review this account once we do receive proof of a bankruptcy being filed. We are reporting correctly on complainants’ credit report. If 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 complaint. We would like to start off by thanking the complainant for bringing this to our attention, so we can better provide the utmost quality of service to our customers. It is unfortunate that this error has occurred. We strive...
to provide the most up to date information to the credit reporting agencies. There seem to have been a software error when the information was sent to the reporting agency. The error has been addressed and a manual change has been made to the complainant’s report. The update will show up at the beginning of January. Proof of the update can be provided at the complainants request. If this issue persists after the update takes effect, please contact me at 801-312-0721.