RIFCO National Auto Finance Corporation

The customer purchased a vehicle on November 15, 2016.   We granted a loan to the customer and provided funds to the dealership for the purchase of the vehicle. The customer failed to make their first monthly loan payment on December 20, 2016 but managed to make 2 payments on January 20,...

2017 to catch up their obligations.   The customer also made the required loan payments in February, March and April.  Unfortunately, no loan payments were made by the customer since April. During this time period, we attempted frequent contact by telephone and email.  Despite receiving a number of promises to pay by the customer, we did not receive any actual loan payments.  Our intention was to assist the customer in resolving the increasing delinquency, but absolutely no funds were forthcoming.   The customer was notified, by letter, that the loan was assigned (sold) to [redacted] effective July 6, 2017. Since our company no longer owns or controls the automobile loan, all dialogue regarding the loan, the delinquent payment amount, and the status of the financed vehicle ought to be made to [redacted] The contact information for the administrator of the loan is as follows: [redacted] Name and Title: [redacted] Email:  [redacted] Phone: [redacted]

Complaint: [redacted]
I am rejecting this response because: Totally unacceptable, [redacted] The excessive phone calls started three months into the contract despite having access to my banking information and the account being in good standing. The calls then got progressively worse the further I got into the loan. I have repeatedly express my frustration about these calls and was told it is done by their automated system or they are trying to arrange payment schedule. (once denied access to my account for unauthorized debt).  With regards to their automated system, on several occasions I would respond to a call from Rifco to find out it’s an automated call requesting a call back to their office immediately. In compliance of said call, I would be place on hold for thirty to forty minutes at which point I would be annoyed by the wait time and disconnect the call, minutes later the same thing would happen again. There have been times when I would receive upwards of fifteen to twenty calls per day despite having made payment arrangement with two sometimes three representatives the day off or the day(s) prior. I can recall several instances where by I have spoken to one rep earlier in the day and would receive numerous calls from other reps that same day and when asked have you check my account before calling the rep would reply “it doesn’t matter who call you before, when we (Rifco) call no matter what you are doing we expect you to answer our calls”. [redacted]Full cooperation was always extended to Rifco and its representatives to ensure proper business etiquette until it was violated after representatives of Rifo were implicated in misrepresentation and breach of privacy. Representative would often use alias names to conceal their identity when making problematic calls as it was often the case with us. [redacted]With regards to breach of privacy, [redacted] contacted several individuals namely: employer, former employers, family, ex-girlfriends, friends and neighbours regarding my account, offering full disclosure on my finances. [redacted]For the record, my account has been in arrears in the past and I have done my best to rectify the situation by making double and sometimes triple payments to keep the account current. With that said, I have always notified Connie in advance to that effect and try to maintain a line of communication that is befitting to proper business standards and etiquette. 
Sincerely,
[redacted]

Initial Business Response /* (1000, 5, 2015/10/01) */
The consumer is a co-signer on an auto-loan. With the other borrower, the consumer is entirely responsible for meeting the terms and conditions of the auto loan as described on the loan agreement signed by each in October 2011. A copy of the...

signed agreement can be provided upon borrower request.
We have been in contact with the consumer and have provided the detailed loan history that she has requested in her complaint. We are also going to provide a payout amount for the customer as per their request.
Initial Consumer Rebuttal /* (3000, 7, 2015/10/02) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I understand that the terms of the contract is our responsibility !! I guess it's because we are intelligent people.. It concerns me that there was an accusation made to me that my husband is not a smart person! I don't believe that date changes were communicated clearly.. It also concerns me that it's took several request to get statemts and when I finally got them I was told they are difficult to understand. [redacted] I am waiting to hear from the director on a good buy out.. I just want rid of this company.. I would Also like them to contact the credit bureaus to have less negative impact to our credit score.. I hope that we can resolve all of my request quickly so that I don't have to take further steps to have it resolved..
Final Business Response /* (4000, 9, 2015/10/06) */
The cost of borrowing is clearly disclosed on page 1 of the loan agreement signed by the consumer. The associated fees for dishonored payments is clearly disclosed on page 2 of the loan agreement signed by the consumer.
We are obligated to truthfully report payment history accurately to credit bureaus and are unable to erase or modify late payments from history.
Our records indicate that we have sent statements to the consumer at the address provided on July 9th immediately following a conversation with the consumer. Additionally our records also indicate statements were sent to the consumer at the fax number provided by the consumer on July 15 when requested.
In an attempt to bring this matter to a close we have already waived in excess of $300 in NSF fees associated with the account. The loan balance is currently $8,271.43 and the payout if received within 30 days would be $8,409.71. We have also communicated an offer to settle the account for $7000 within 60 days of October 5, 2014 which would provide the consumer at minimum an additional $1200 in savings. The account will continue to accrue interest at the contractually agreed upon rate until payout, or settlement payment is received within the timeframe provided.