Tracir Financial Services, Inc.

Ms. [redacted],
I am in receipt of you Revdex.com dispute dated October 27, 2015. I
have reviewed your concerns in detail and offer the following information:
You
purchased the 2002 Chevrolet Malibu from the dealership, not CMCC. CMCC agreed
to accept assignment on the Retail Installment...

Sales Contract from the Dealer.
The retail value of this vehicle was greater than the base price you agreed to
pay for the vehicle not inclusive of ancillary products that you elected to add
to your purchase. CMCC does not sell cars, we merely accept assignment after
careful due diligence. CMCC
and COCC are associated entities; however, CMCC is a standalone company engaged
in subprime automobile financing in several southern states, while COCC
conducts same type business in several mid-western states. Your
bi-weekly payments are $146.63 as you indicated and you have satisfied 74 of
the scheduled 78 payments as of this date. Your
contractual interest rate is 28.5% as indicated in the Federal Truth In Lending
Disclosure section of the simple interest contract. Simple
interest contracts do accrue interest on a daily basis. The daily interest (per
diem) is calculated based on the daily principle balance. For example, a
$5,000.00 principle balance with an annual APR of 28.5% would accrue $3.90
interest or per diem daily. The formula for this would be 28.5/365*$5,000.00. As
illustrated in the Federal Truth in Lending portion of your contract, had you
paid every payment on time you would end of paying  $3,880.04 in interest
on the amount financed of $7,585.18. The amount of interest paid would be less
if you made scheduled payment earlier than scheduled since your daily balance
would be less than scheduled or precomputed, and more if your scheduled
payments are late since the daily principle balance is higher than scheduled.
 This is explained in detail under the Finance Charge and Payments section
of your contract which is the first item under Additional Terms and Conditions.
As
per your contract, a $10.00 late fee is assessed if your scheduled payment is
not received in full within 10 days after it is due. Only one $10.00 late fee
is assessed per late scheduled payment.As
of this date you have four payments of $146.63 due ($586.52) plus $100.00 in
late fees. The difference  between what you say you owe and what you actually
owe of $156.99 is the result of added interest due to  your payment
pattern. Your
current daily per diem based on principle balance of $0.58 (28.5/365*743.51).My
associates have placed collection calls to you to set arrangements and to
follow-up on those arrangements, but never to collect on an amount that was not
due. I see clearly where we have explained your loan status to you and educated
you on the loan multiple times. I show that each contact we have had with you
has been congenial and my associates have worked with you from the onset of
your loan. We
report to Equifax and TransUnion Credit Repositories.I
have mailed you a copy of your contract as requested.
I apologize for any miscommunication you may have received
from my associates. We try our best to exceed our customers’ expectations. We
are a reputable company, we treat our customers with respect  and enjoy a
great reputation in areas in which we have a presence as we provide a valuable
and much needed service. I’m hopeful that this information is helpful to you.
Please feel free to contact me directly if you have additional questions.

[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]
Complaint: 11795445
I am rejecting this response because:I do not completely agree with everything paraphrased or this person's translation of situations from their personal review of the mentioned details in Tracir's response by Andrew F**. I've not been dishonest about anything I've stated. I'm rejecting because if I accept that response it would mean that agree with everything stated, which it's clear we both disagree. I feel it's quite clear what the "manager" Brandon was doing in his call placed to me on 10/31/16 @9:47am. He made it quite clear that if I make that Revdex.com Report, that he encouraged me to do, that then the facts of me being what he stated was dishonest & our account details would be answered in response & made public as such on the Revdex.com Website. However, it states when I made this report the details of what I discuss is confidential & that yes my responses are shared with the business only. The businesses responses of the details are not posted public on the Revdex.com Website for all to see as Brandon stated in that call. I've never spoken to any such manager before, even when I have asked for one from the times of issues January 2016-September 2016. I know for a fact if you pull recorded calls in the two months of January & September 2016, you will clearly hear my attempts to work out a fair payment arrangement, but being denied and told if I don't make this double payment then those reps speaking with me each time state then there is no certainty to assure the car won't be repossessed back by Tracir no matter what I pay unless it's that double payment. That's times when we were under 30 days past due since our payments are every 2 weeks. There are calls in January you can hear me breaking down crying with how badly I was spoken to by the rep my very first call placed that January the first time we became past due. No efforts have ever been made to work out reasonable payments, not even the beginning of September when I pleaded trying on the phone being under 30 days past due, again all the reps say is "I can't tell you much or say your car is safe unless you make that double payment or pay the $109 now today & then the double payment." It wasn't until yes that middle of September I was offered 1 payment to be deferred & told the gentleman that I've asked for help & here's what he stated when I asked why couldn't any of the reps help me just last week in September, he said "oh that must of been temps you were speaking with & they don't know much or care to like us full timers". Ive under went a lot of health issues lately, which I don't care to share with this company, but that was the reason for the mix up about sending the fax back about the payment deferment. That's the reason on 10/06/2016, I thought I didn't do it due to complications with my health. So being called a liar or that I'm being dishonest, was completely disrespectful. Brandon did call me to discuss because within 20 seconds into that call he jumped on everything I said in my inquiry wasn't true that I sent on 10/28/2016, which is the only reason he called.  You can look over the last year, the gentleman I set 90% of payment arrangements with, you can him recorded in calls stating "you normally always pay when you say your going to so you getting over 30-53 days past due what's going on so we can get you back on track". This is the first time it's ever been this far behind because I thought the payment or payments had been deferred like stated. That's why I didn't make the effort to answer every single call or email while dealing with health issues, work, college classes, children, our home, other bills. Yes, having an auto loan is extremely important to me to keep paid because I have to have a car to drive. That's why I'm trying to resolve this. I'm done doing this back & forth let's prove who's statement is true & false. Andrew's offer to make "Reasonable Payment Arrangements" because just last night your collections department called me again to collect that double payment or said my car could possibly still be taken if not. This women's extension was 614-522-6336. She was respectful, but she wasn't hearing that I possibly cannot make a double payment this week, but instead I would pay at least 1 full payment per week of the $163.93 until it is caught up. Currently we are 3 or 4 payments behind. She told me that wasn't going to work & that the Revdex.com Report was already responded to (that I hadn't gotten yet at the time she called in the evening). So I asked her what is Tracir wanting so that I know this car won't be taken because I have to drive to get to work. She said I would have to make that double payment by this week & then again next week make a payment weekly & we would touch base again next week to discuss the other payments. Now, I'm paraphrasing the conversation, but again I was told making a full 1 payment a week wasn't good enough. That I have to make this double payment (which I made a payment yesterday of $164.00), so she said another $164.00 by before Friday ends which is tomorrow & then a payment next week & then discuss. That this is the only way my car is okay just through NEXT WEEK ONLY. After I got off the phone, agreeing because again I felt cornered after I told this woman what works for us to be able to survive off of & pay the loan back current at the same time wasn't good enough. $164.00/weekly isn't good enough until paid current? She said that time is just not reasonable & will take too long. It will only take less than a total of 2 months. I also said we would pay extra if we could, but nope not okay unless that double payment is made, but still onky safe through next week & then we will have to touch base & discuss what these collection people say is okay with for me to keep the car to know it's not going to be taken. The customer service is the same number & same employees as the customer service. Collections is completely out did any customer service. This is my main & only concern now. I am willing to accept your offer Andrew of what is fair & reasonable payments to get brought back to current, but it can't be these double payments weekly to be caught up by next week like these reps are telling me I have to do because they can't ever say that the car is okay. I feel they are only concerned about their collection reward or their production numbers for money collected in calls, just to get that high amount. This is 98% of ever rep that has ever called me or I have spoke with. I understand I have a loan & the car is the collateral that it's only right I pay Tracir for loaning us the money to get the car to benefit our family. I work for a financial firm. I fully accept responsibility for paying & bringing it current, but what's being done just last evening wasn't reasonable. These reps make you feel you have no choice & no help what so ever. By her doing that insisting that double payment is the only way, I felt obligated to say yes & have to see how I can make another $164 appear by tomorrow because weekly checks only go so far. Again, I understand we have to get caught up. So Andrew, what's reasonable. That's all I want out of this is something reasonable to ensure this car is going to be safe after an agreement is reached. That I'm not gonna be contacted daily with reps trying to collect double payments bc they see we aren't current. That once this agreement is reached, and we make the agreed payments as arranged, I'm not going to wake up & this car be gone or reps be on the phone telling me if I don't pay whatever they say it can be taken. I responded in this report for documentation purposes to work out the payment arrangement & ensure it's kept. I don't want to be called dishonest because I was pressured yesterday on the phone about the double payment before even seeing or answering this response by you from the Revdex.com Report. I have you number of 614-856-[redacted] & will be calling by 3:00pm EST to speak with you as you extended in your response to set the arrangements.