RAFE Federal Credit Union

Initial Business Response / [redacted] (1000, 9, 2015/12/11) */ December 7, Revdex.com RE: Case #XXXXXXXX [redacted] / [redacted] On November 1, 2011, the above named co-borrowers were granted a loan in the amount of $14,for a Mini CooperThe payments were $at 12.99% due on or before the 7th day of each and every month, beginning December 7, The daily periodic rate 0.XXXXXX% Our interest is "simple interest"Our amortizations are based on a payment being made every daysIf this happens as the loan balance goes down so does the interestIf the payments are made on a different day each month the interest will go up or down accordinglyIf the loan payment is received on the 10th day after the due date a late fee will be imposed which is 20% of the interest due or $minimum on the date the payment is received According to our records the above members paid a total of $4,interest over the life of the loan with the final payment being received November 12, The total late fees paid were $over the life of the loanWe provide a service to our members to do a "check by phone" at no chargeWhen this is done the payment is made the day the request is phoned in We advise our members that they must keep full coverage insurance on the loan for the entire term of the loan and that RAFE Federal Credit Union must be listed as "loss payee"It explains that if we do not receive the required insurance that we may add a policy of insurance to the loan that protects only the vehicle and the credit union and does not protect the member in any way and is not what is required under California law On January 14, 2014, a certificate of insurance was issued to the above members because we did not have verification of insuranceOn February 20, the members were advised that we did receive the necessary proof of insurance, however there was a lapse in coverageA partial refund was credited to the loan for $1,The remaining premium still owing $was divided over payments and increased the loan payment of $to $429.78, beginning 02/07/ At one point the members did come to the office and the collection manager explained the process to them but they either did not understand or did not want to understandWe try to work with our members and it is unfortunate that they feel this way The members received copies of what transpired on their loan and copies of all the initial loan documentsWe are enclosing copies of what our members received Initial Consumer Rebuttal / [redacted] (3000, 11, 2015/12/14) */ (The consumer indicated he/she DID NOT accept the response from the business.) I don't agree with the above said, when I would call to make a payment they will take days to post payment, and of course that added additional interest to my loanI once had to call and ask why did had not posted my monthly and all they said was that they don't know why that happen, but they will take care of itThere is thousands of people out there, that they are doing this toAnd they need to stopI want that extra money they charged given back to meAlso on the documents I have it shows when they charged me a late fee of and they added on to the loan once againI don't know if this Credit union employees understand or don't want to understandThey are very unprofessional Final Business Response / [redacted] (4000, 28, 2016/05/24) */ Final Consumer Response / [redacted] (2000, 30, 2016/06/02) */ (The consumer indicated he/she ACCEPTED the response from the business.) I understand there is late fees, but you guys shouldn't charge them twiceU guys charge a late fee on the day payment is made, then u added it on to balance with interestI accept the dollarsYou can mail it to [redacted] Date [redacted] CA XXXXX

I am rejecting this response because:The collection manager has not been cooperativeHe doesn't take or return my calls He had every opportunity to resolve this dispute However he chooses to undermine the process They have credited my account in excess of my arrears, but refuse to update my staus as currentAlso I have been informed of a merger in effect as of December1st

This is in response to your complaint to the Revdex.com about the way we are reporting your vehicle loanNormally, when there is an error in reporting the member contacts either the credit bureaus or the credit unionWe have no record that you contacted us to change the way we are reporting your loanThis will be corrected through the credit bureaus to show a "charged-off' loanThis normally takes between and business daysWe will send you a copy of the correctionSincerely [redacted] Loan Manger

RAFE FEDERAL CREDIT UNION November 20, [redacted] W Russell Rd Apt Las Vegas NV Re: Complaint As stated in our previous letter, interest is computed daily on the unpaid balance of the loan from date of last payment until next payment received or paid in fullYou need to look at all of your statements showing your payments and it will explain the difference of the interestI understand that you have been working with the Collection Manager and hope that this matter will be settledYours truly, [redacted] ***Loan Manager

October 17, 2017 RAFE FEDERAL CREDIT UNION *** * ***W Russell Rd Apt Las Vegas NV 89148 Re: Better Business Complaint We have received notice of your complaint filed with the Revdex.com, I have researched your account and the findings are as
follows: You are due payments of $and one payment of $due to the CPI insurance that was added to your loan because of the lapse, totaling $10,You have made payments to date totaling $During the loan, you skipped some months for paymentsThis causes more interest to be charged and late fees to incurI see that we have made corrections to your late fees in your favorThe difference that you owe is $plus interest and any late fees that are due. We have credited your loan $for the GPS unit that was never installedYour new payoff balance is $as of today, including interest and late feesEach day forward you need to add interest of until paid in full or next payment received. Our interest is "simple interest" that accrues daily on the unpaid balance of the loan from date of last payment until next payment receivedIt is based on a payment being made every daysIf the payments are not received as scheduled, this causes more interest to accrue and if the payment is more than days past due, late fees are added. Only payments made from your bank account were payments that were authorized by you either verbally or in writingWe do not take payments from your account without authorizationThe interest rate you are being charged is 17.99% as stated on your loan documents. The cash purchase price of your vehicle was $but there are other fees added, document processing fee, emissions testing, the GPS (which we have credited back) sales tax, DMV/registration fees, and warrantyThe total amount financed was $7633.49, We are sending you a copy of the purchase order you signed from the dealer. I hope that this answers your complaintsPlease contact our office if you have further questions or concerns. Yours Truly, *** *** Loan Manager

Re: *** * ***/*** * *** ID Complaint FiledThe above requested a loan for $10,and the loan was process on July 7, It was set up for monthly payments of $378.23, final estimated payment $310.80, if all payments made on time, beginning July 29, 2016.Paperwork
was mailed to the members, including a copy to the Security Agreement with the terms of the loan, a statement that payment coupons were ordered, and a statement about full coverage insurance stating they must have comprehensive and collision with deductibles of $and RAFE Federal Credit union must be listed as "Loss Payee"It states further that we must be in receipt of this information within (10) days or insurance may be added to their loan protecting only the credit union against collision damage and does not protect the member and is not what is required by California lawIt also states that no insurance puts the loan in default. Our Insurance company and tracker normally sends three letters that we are not in receipt of the required insurance before a policy of insurance is added. The insurance was not added until November 22, for $The amount was divided over nine months increasing the payment $from $to Contact on this loan was started in July and almost every month thereafter, with the last contact August 8, 2017.Unfortunately, they both blame each other and both made many, many promises to pay and never follow through with themWe have worked with them for one year and we just cannot let this delinquency continueThe loan is delinquent back to April 29,for $We have no record of anyone requesting a due date change. The member needs to make an appointment and come to our office with a substantial payment and proof of "FULL COVERAGE INSURANCE" and talk to our Collection Manager, *** ***, to make FIRM payment arrangements within the next ten days. Sincerely *** *** Loan Manager

Initial Business Response /* (1000, 9, 2015/12/11) */
December 7,
Revdex.com
RE: Case #XXXXXXXX *** *** ***/*** ***
On November 1, 2011, the above named co-borrowers were granted a loan in the amount of $14,for a Mini CooperThe
payments were $at 12.99% due on or before the 7th day of each and every month, beginning December 7, The daily periodic rate 0.XXXXXX%
Our interest is "simple interest"Our amortizations are based on a payment being made every daysIf this happens as the loan balance goes down so does the interestIf the payments are made on a different day each month the interest will go up or down accordinglyIf the loan payment is received on the 10th day after the due date a late fee will be imposed which is 20% of the interest due or $minimum on the date the payment is received
According to our records the above members paid a total of $4,interest over the life of the loan with the final payment being received November 12, The total late fees paid were $over the life of the loanWe provide a service to our members to do a "check by phone" at no chargeWhen this is done the payment is made the day the request is phoned in
We advise our members that they must keep full coverage insurance on the loan for the entire term of the loan and that RAFE Federal Credit Union must be listed as "loss payee"It explains that if we do not receive the required insurance that we may add a policy of insurance to the loan that protects only the vehicle and the credit union and does not protect the member in any way and is not what is required under California law
On January 14, 2014, a certificate of insurance was issued to the above members because we did not have verification of insuranceOn February 20, the members were advised that we did receive the necessary proof of insurance, however there was a lapse in coverageA partial refund was credited to the loan for $1,The remaining premium still owing $was divided over payments and increased the loan payment of $to $429.78, beginning 02/07/
At one point the members did come to the office and the collection manager explained the process to them but they either did not understand or did not want to understandWe try to work with our members and it is unfortunate that they feel this way
The members received copies of what transpired on their loan and copies of all the initial loan documentsWe are enclosing copies of what our members received
Initial Consumer Rebuttal /* (3000, 11, 2015/12/14) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I don't agree with the above said, when I would call to make a payment they will take days to post payment, and of course that added additional interest to my loanI once had to call and ask why did had not posted my monthly and all they said was that they don't know why that happen, but they will take care of itThere is thousands of people out there, that they are doing this toAnd they need to stopI want that extra money they charged given back to meAlso on the documents I have it shows when they charged me a late fee of and they added on to the loan once againI don't know if this Credit union employees understand or don't want to understandThey are very unprofessional
Final Business Response /* (4000, 28, 2016/05/24) */
Final Consumer Response /* (2000, 30, 2016/06/02) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I understand there is late fees, but you guys shouldn't charge them twiceU guys charge a late fee on the day payment is made, then u added it on to balance with interestI accept the dollarsYou can mail it to *** Date ** *** *** CA XXXXX

I am rejecting this response because:The collection manager has not been cooperative. He doesn't take or return my calls.  He had every opportunity to resolve this dispute.  However he chooses to undermine the process.  They have credited my account in excess of my arrears, but refuse to update my staus as current. Also I have been informed of a merger in effect as of December. 1st.

RAFE FEDERAL CREDIT UNION  November 20, 2017 [redacted] [redacted] 9620 W Russell Rd Apt 1004 Las Vegas NV 89148 Re: Complaint 12446026 As stated in our previous letter, interest is computed daily on the unpaid balance of the loan from date of last payment until next payment received or paid in full. You need to look at all of your statements showing your payments and it will explain the difference of the interest. I understand that you have been working with the Collection Manager and hope that this matter will be settled. Yours truly, [redacted]Loan Manager

This is in response to your complaint to the Revdex.com about the way we are reporting your vehicle loan. Normally, when there is an error in reporting the member contacts either the credit bureaus or the credit union. We have no record that you contacted us to change the way we are...

reporting your loan. This will be corrected through the credit bureaus to show a "charged-off' loan. This normally takes between 7 and 14 business days. We will send you a copy of the correction. Sincerely[redacted] Loan Manger