This is in response to a complaint filed by [redacted] (ID #[redacted]). We are hopeful that this response will answer any/all questions regarding this matter.
On April 23, 2016 Mr. [redacted] entered into a Retail Installment Contract with Mission Motors of...
Stanwood. It appears that the contract they negotiated and Mr. [redacted] signed was for an agreed upon interest rate of 29.99%.
On April 26, 2016, our company, Quality Funding, LLC purchased this contract from Mission Motors of Stanwood and advised Mr. [redacted] verbally and by mail that we had purchased the above noted Retail Installment Contract and would be servicing the contract going forward. Quality Funding at no time dictated any terms of the contract, we simply purchased the contract from Mission Motors at the agreed upon terms set forth in the Retail Installment Contract. The contract Mr. [redacted] signed and negotiated is a Simple Finance Charge contract and does accrue daily interest as set forth in the terms and conditions.
Quality Funding, LLC currently reports all account history to the TransUnion credit bureau, we expect to continue doing so and have no plans to change our current business model.
Quality Funding, LLC does charge a $7.00 transaction fee for any Bank Card type transactions; we are assessed charges by our banking institution and we simply pass these charges on to the customer in order to offer this service. These charges are standard and customary within the industry and again we currently have no plans to change our business model.
In conclusion, we feel strongly that we have made every attempt to address this matter amicably without a need for a complaint of this nature.
We are hopeful that this answers any/all questions, but if further information is needed please contact me with the information provided below.
Sincerely,
Ron O[redacted]
Managing Member
Quality Funding, LLC
Ph. 206-525-5039
Fax 206-525-5049
[redacted]
This is our response to a complaint filed by [redacted] (ID # [redacted]). We are hopefulthat this response will answer any/all questions regarding this matter.On August 22, 2015, Mr. [redacted] purchased a 2001 BMW XS from Bayside Auto Sales, on August 31 ,2015 Quality Funding, LLC purchased...
this contract from Bayside Auto Sales. The purchase agreementcontains a signed "AS-IS" agreement. Quality Funding has not had any discussion in regards tomechanical issues between the dealership and Mr. [redacted]. Included in the purchase was a 2 year/24,000mile Vehicle Service Contract.Mr. [redacted]'s first payment on this contract was due on Oct. 6, 2015 and was paid on time. His nextpayment was due on Nov. 6, 2015. On Nov. 6 a payment arrangement was made to make the payment onNov. 9111, no payment was received on this date; a collection call was placed on the 10th. The collectioncall was returned by Mr. [redacted], he advised us he was unable to pay until the 27th due to a job layoff. Hewas informed that we had now also received a notice of insurance cancelation. We informed him that wewould not be able to wait until the 27th for a resolution to this situation; he said he would try to borrowfunds and call back no later than the 12th. No call back was received, another collection call was placedon 11/16; this call was returned, with the customer stating he was unable to borrow the money; asuggestion was made to add his vehicle to someone else's policy like his parents or grandparents as ashort term solution. Mr. [redacted] thanked us for the suggestion and agreed to research this option and callback no later than the 18th; again no call back was received. On 11/25 we again spoke with Mr. [redacted],he said he was on his way out of town for the holiday and that he was unable to resolve this matter untilhe returned, he was informed that we would no longer be able to work with him and that we would betaking possession of our collateral. The vehicle was assigned for repossession and recovered on Dec. 2,2015. Mr. [redacted] was notified by certified mail of the repossession.
On Dec. 24, a deficiency balance letter was sent to Mr. [redacted] advising him of the balance owed andinstructing him to call to make arrangements within 5 business days. Mr. [redacted] contacted our officerequesting to make payment arrangements; he was told that arrangements of $500.00 per month would beacceptable; he stated he was unable to make a payment at this time. He was then advised that his accountwould be assigned to a 3rd party collection agency. He told us he could possibly make a payment on the12th of January; again he was told to call us if he was able to make this payment and if so his accountcould be retrieved and/or cancelled with the collection agency.In conclusion, we feel strongly that we have made every attempt to resolve this matter amicably withoutthe need for a complaint like this.We are hopeful that this answers any/all questions, but if further information is needed please contact mewith the information provided below.
Sincerely,
Ron O[redacted]Managing MemberQuality Funding, LLCPh. 206-525-5039Fax 206-525-5049[redacted]@gualityfundingllc.com
Dear Mr. [redacted]:
This is in response to a complaint filed by [redacted] (ID #[redacted]). We are hopeful that this response will answer any/all questions regarding this matter.
On April 23, 2016 Mr. [redacted] entered into a Retail Installment Contract with Mission Motors of...
Stanwood. It appears that the contract they negotiated and Mr. [redacted] signed was for an agreed upon interest rate of 29.99%.
On April 26, 2016, our company, Quality Funding, LLC purchased this contract from Mission Motors of Stanwood and advised Mr. [redacted] verbally and by mail that we had purchased the above noted Retail Installment Contract and would be servicing the contract going forward. Quality Funding at no time dictated any terms of the contract, we simply purchased the contract from Mission Motors at the agreed upon terms set forth in the Retail Installment Contract. The contract Mr. [redacted] signed and negotiated is a Simple Finance Charge contract and does accrue daily interest as set forth in the terms and conditions.
Quality Funding, LLC currently reports all account history to the TransUnion credit bureau, we expect to continue doing so and have no plans to change our current business model.
Quality Funding, LLC does charge a $7.00 transaction fee for any Bank Card type transactions; we are assessed charges by our banking institution and we simply pass these charges on to the customer in order to offer this service. These charges are standard and customary within the industry and again we currently have no plans to change our business model.
In conclusion, we feel strongly that we have made every attempt to address this matter amicably without a need for a complaint of this nature.
We are hopeful that this answers any/all questions, but if further information is needed please contact me with the information provided below.
Sincerely,
Ron O[redacted]
Managing Member
Quality Funding, LLC
Ph. 206-525-5039
Fax 206-525-5049
[redacted]
This is our response to a complaint filed by [redacted] (ID # [redacted]). We are hopefulthat this response will answer any/all questions regarding this matter.On August 22, 2015, Mr. [redacted] purchased a 2001 BMW XS from Bayside Auto Sales, on August 31 ,2015 Quality Funding, LLC purchased...
this contract from Bayside Auto Sales. The purchase agreementcontains a signed "AS-IS" agreement. Quality Funding has not had any discussion in regards tomechanical issues between the dealership and Mr. [redacted]. Included in the purchase was a 2 year/24,000mile Vehicle Service Contract.Mr. [redacted]'s first payment on this contract was due on Oct. 6, 2015 and was paid on time. His nextpayment was due on Nov. 6, 2015. On Nov. 6 a payment arrangement was made to make the payment onNov. 9111, no payment was received on this date; a collection call was placed on the 10th. The collectioncall was returned by Mr. [redacted], he advised us he was unable to pay until the 27th due to a job layoff. Hewas informed that we had now also received a notice of insurance cancelation. We informed him that wewould not be able to wait until the 27th for a resolution to this situation; he said he would try to borrowfunds and call back no later than the 12th. No call back was received, another collection call was placedon 11/16; this call was returned, with the customer stating he was unable to borrow the money; asuggestion was made to add his vehicle to someone else's policy like his parents or grandparents as ashort term solution. Mr. [redacted] thanked us for the suggestion and agreed to research this option and callback no later than the 18th; again no call back was received. On 11/25 we again spoke with Mr. [redacted],he said he was on his way out of town for the holiday and that he was unable to resolve this matter untilhe returned, he was informed that we would no longer be able to work with him and that we would betaking possession of our collateral. The vehicle was assigned for repossession and recovered on Dec. 2,2015. Mr. [redacted] was notified by certified mail of the repossession.
On Dec. 24, a deficiency balance letter was sent to Mr. [redacted] advising him of the balance owed andinstructing him to call to make arrangements within 5 business days. Mr. [redacted] contacted our officerequesting to make payment arrangements; he was told that arrangements of $500.00 per month would beacceptable; he stated he was unable to make a payment at this time. He was then advised that his accountwould be assigned to a 3rd party collection agency. He told us he could possibly make a payment on the12th of January; again he was told to call us if he was able to make this payment and if so his accountcould be retrieved and/or cancelled with the collection agency.In conclusion, we feel strongly that we have made every attempt to resolve this matter amicably withoutthe need for a complaint like this.We are hopeful that this answers any/all questions, but if further information is needed please contact mewith the information provided below.
Sincerely,
Ron O[redacted]Managing MemberQuality Funding, LLCPh. 206-525-5039Fax 206-525-5049[redacted]@gualityfundingllc.com