Sheffield Financial, A Division of B B and T Financial, FSB

I called Sheffield Finand asked what the minimum credit rating for a loan to be approved so that I would use another route if need be
They told me they used Equifax and them minimum score was 675, I having much higher than that I applied and got turned downI called them and they said I had a return score of 652, I told them I just called Equifax and got my score from them and it was
They told me "No they gave me the wrong information" so I called Equifax they told me that my hard pull was and that was that but some company's just pull info and determine their own by using the info on Equifax, I then call Sheffield back and they again told me "No that Equifax was flat out wrong." I now have a hard pull on my credit for the next two years because of there inability to tell a consumer truthfully how they figure the score

This company or lack thereof operates under antiquated credit and collection practicesFor example, if your collateral gets repossessed and it is not one of several states that requires past due plus repossession fee only, they often will require a to % of payoff for redemption depending on the consumers attitude and length of loanThis puts a client in an undue position to come up with a large sum of money to redeemMost cannot come up with it and forces the completion into liquidation auction sale

Review: An application was filled out on April 5, 2013 with Motor SPorts Super Store in Hamilton, Alabama and sent to Sheffield Financial for a purchase on a 2013 Polaris Rzr. A contract was signed on April 6, 2013 for the following utility vehicle upon delivery. After realizing the loan was financed incorrectly on the amount of months the loan was suppose to be for, I contacted the Motor Sports and made them aware of the situation. The sales manager left a voicemail stating he corrected the contract and I could resign the new contract when I returned the following week to receive the accessories ordered for the utility vehicle. I returned the utility vehicle to the company on April 8, 2013 and contacted Sheffield Financial and asked them to not process the loan until further notice due to complications between me and the company. The employee at Sheffield Financial, [redacted], stated he would not process the loan per my request. [redacted] stated it was not a loan it was just an application and would remain on file until May 6, 2013. As the weeks went on, Motorsports Super Store contacted Sheffield Financial stating them to proceed with the loan. I talked to [redacted] again on April 19, 2013 and repeatedly stated to him NOT to process the loan, I wanted the contract to be cancelled. After talking with Motor Sports Super Store in Hamilton on April 25, 2013, they stated Sheffield Financial has issued the money into their account and the loan has been processed.Desired Settlement: I do not wish to have a loan with Sheffield Financial. I want this loan cancelled and do not want to pay Sheffield Financial any money, especially for a product I do not have.

Business

Response:

Thank you for allowing us the opportunity to reply. The selling dealer is not an agent of Sheffield Financial, nor is Sheffield an agent of the dealer. The dealer actually acts as agent of the customer.

We did reissue the contract for the revised (shorter terms, lower rate) option to the dealer as requested by **. [redacted]. He did later ask us not to proceed with the second contract, which he had already signed. However, the selling dealer states he had actually picked the unit up to isntall agreed to accessories. At time of pick up, the dleaer noted the unit had been operated for 50 miles. After the work was complete, he states **. [redacted] refused to pik the unit up.

We truly regret there is an apparent misunderstanding. However, it appears at this point Sheffield holds a valid debt. We would suggest that **. [redacted] discuss the matter further with his dealer. If he has any questions, he may call our office and as to speak to our Loan Provcessing Manager by calling toll free ###-###-####. He should reference account number [redacted].

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: 9519539

I am rejecting this response because:

This in false information. The First contract, which was signed upon Delivery of the unit, is the one I repeatedly told Sheffield Financial not to process and wanted to cancel is the one Sheffield Financial processed three weeks after stating this loan would not be processed. The unit dispute is between me and Powersports in Hamilton Alabama and is not any business of Sheffield Financial. I am the customer and the one responsible for paying the loan back. How is it possible this company was allowed to process a loan after I repeatedly stated I did Not want this loan? I feel Sheffield Financial and Powersports in Hamilton deliberately trapped me in receiving and having to pay for a product I did not want.

Regards,

Business

Response:

Thank you for the opprotunity to reply. We are a bit unclear as to the ongoing complaint at this point. On May 14, 2013 we received a cashiers check dated May 9, 2013 from **,. [redacted] to pay the full amount originally financed. This following our response on May 2, 2013 would tend to suggest our inital response was correct and would sugegst to us ratification of the loan contract. Having no further direct contact from **. [redacted] or his original selling dealer/merchant we would believe the matter settled. If **. [redacted] still feels he has a dispute with Sheffield, we certainly welcome and encourage his call toll-free to ###-###-#### anytime Monday through Friday, 8 Am to 5 PM, ET.

Review: I recently received a loan from Sheffield Financial and was told it would be zero interest. When I went to submit my monthly payment online I found they charge a $10 convenient fee. This seems like a way for Sheffield to make up for the interest on a supposedly interest free loan. They encourage online or auto pay but does not mention the fee until you are on their website in the process of making a payment.Desired Settlement: I would like a refund of the $10 fee that I had to pay in order to process my payment online. There was no mention of the fee in my paperwork. I propose the fee be removed for me and current consumers who have loans with Sheffield then for new loans if they are going to charge the fee it should be advertised on the first statement one receives giving the consumer time to choose mailing or paying online. Thank you.

Business

Response:

Thank you for allowing us the opportunity to respond. The convenience fee referenced by [redacted] is charged for online payments only when a client utilizes a credit card to make said payment, subject to state law restrictions. The convenience fee is prominently displayed at time of payment type selection and the client does not have to proceed with the transaction if they do not wish to pay the fee. Alternatively, only payments utlizing an ACH debit against their checking account do not incur the fee, so there is a no-fee on-line option readily available for online payments. Additionally, a recurring ACH debit to their checking account can be established without a fee.

The loan referenced is a true 0% interest loan. Regardless of interest rate or loan term, the above described fee conditions apply to all. This is not an attempt to obtain finance charges. The convenient fee ccharged for on-line payment via credit card is designed to cover programming costs and processing. Sheffield Financial, a division of BB&T, fully complies with all applicable federal and state regulations.

[redacted] is asked to call our Customer Service Department toll free at ###-###-#### to discuss the most efficient ways to make payments and minimize expenses.