Consumer complaint received 2023-11-06
Company: Exeter Finance Corp.
State: NV
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
XXXX XXXX is requesting for payment for all damages and fees, theft of property, fraud, robocall, because Exeter Finance LLC is committing securities fraud, predatory contracts, and theft of collateral etc.XXXX  XXXX sent over a registered mail with a registered securities stamped with the obligation to the US Treasury and signed with my beneficiary signature on XX/XX/XXXX, XXXXThis was due to the default that occurred XX/XX/XXXX on the remainder of the investment of the obligation with XXXX XXXX XXXX According to their EXETER AUTOMOBILE RECEIVABLES TRUST 2021-3 ; Class A-1 0.10415 % Asset Backed Notes Class A-2 0.34 % Asset Backed Notes Class A-3 0.35 % Asset Backed Notes Class B 0.69 % Asset Backed Notes Class C 0.96 % Asset Backed Notes Class D 1.55 % Asset Backed Notes Class E 3.04 % Asset Backed Notes -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - INDENTURE Dated as of XX/XX/XXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - EXETER HOLDINGS TRUST 2021-3 Holding Trust XXXX XXXX XXXX XXXX 
Indenture Trustee They refused to rectify the account and or send back the securities and according to 8-406. Even after receiving a 1099C copy B in the mail, they still refuse to update account to show the 1099 C reflection.OBLIGATION TO NOTIFY ISSUER OF LOST, DESTROYED, OR WRONGFULLY TAKEN SECURITY CERTIFICATE has not happened only refusal of return and they keep asking for remainder of payment which I dont owe according to XX/XX/XXXX, XXXX XXXX the Emergency Banking Act.Also, XXXX XXXX SESS. XXXX XXXX. XXXX. House XXXX XXXX XXXX ( XXXX XXXX ) ( Public law XXXX ) was passed in XXXX XXXX we have only had debt, because all property and gold were seized by the government as collateral in the bankruptcy of the United States. Before even doing all this XXXX XXXX gave Exeter XXXX XXXX opportunity and consideration by registered mail XX/XX/XXXX, to fix the issue and no response was received by Exeter XXXX. 



Attention : XXXX XXXX XXXX XXXX, XXXX XXXX and ( ii ) for all other purposes, the principal office of the Indenture Trustee at which at any particular time its corporate trust business shall be administered which office at date of the execution of this Indenture is located at XXXX XXXXXXXX XXXX XXXX XXXX XXXX New York XXXX XXXX Attention : XXXX XXXX XXXX XXXX XXXX XXXX XXXX, or at such other address as the Indenture Trustee may designate from time to time by notice to the Note holders, the Servicer and the Issuer, or the principal corporate trust office of any successor Indenture Trustee ( the address of which the successor Indenture Trustee will notify the Note holders and the Issuer ).

" Default '' means any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default.

" Definitive Notes '' has the meaning specified in Section 2.10.

" Distribution Compliance Period '' means the period from the Closing Date to the 40th day after the Closing Date.

" Distribution Date '' has the meaning specified in the Sale and Servicing Agreement.

The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows : Section 1. Short Title. -- This act shall be known and may be cited as the " Motor Vehicle Sales Finance Act. '' Section 2. Findings and Declarations of Policy. -- It is hereby determined and declared as a matter of legislative finding : ( a ) That an exhaustive study by the Joint State Government Commission discloses nefarious, unscrupulous and improper practices in the financing of the sale of motor vehicles in this Commonwealth which are unjustifiably detrimental to the consumer and inimical to the public welfare. Such practices prevail not only among some sellers, but also among some sales finance companies and some banks, which acquire contracts arising out of installment sales of motor vehicles, and which frequently influence the credit policies of sellers. 
( b ) That the agreement for the installment sale of motor vehicles in this Commonwealth has been generally cast in the form of the so-called " XXXX  XXXX XXXX '' contract, in which the seller is technically the lessor, and the buyer is technically the lessee. By the use of this fictional instrument in the installment sale of motor vehicles, the extension of credit to the purchaser has been so inextricably entwined with the alleged bailment of the motor vehicle as to deprive the consumer of the benefit of existing laws.

( c ) The consumers, because of these legal technicalities and because of their unequal bargaining position, are at the mercy of unscrupulous persons and are being intolerably exploited in the installment purchase of motor vehicles. Such exploitation is evident in the unfair provisions of the installment sale contract, exorbitant charges for credit, extortionate default, extension, collection, repossession and other charges, unconscionable practices respecting execution of contracts, refinancing of contracts, prepayment, refunds, insurance, repossession and redemption.

Exeter Finance had violated NRS598.0993 Relief for injured persons, in originating and servicing certain " subprime '' auto loans including default rates, underwriting standards, dealership misrepresentations, and loan servicing conduct. Exeter ( i ) facilitated the origination of certain Nevada Loans that Exeter knew or should have known were unfair in violation of Chapter 598 ( cf. Comm. v. Fremont Inv. & Loan, 452 Mass. 733, 750 ( 2008 ) ), and ( ii ) engaged in certain servicing and collection activities in violation of Chapter 598, as implemented by NRS598.0993. Certain of these loans were securitized. Protecting consumers from unfair lending practices is extremely important, Attorney General XXXX said. Consumers must receive a fair deal when they are extended credit to finance a purchase. Car loans to consumers with poor credit, known as subprime auto loans, are often made through contracts signed at the car dealership, but the loans are funded by non-dealer financial institutions, like Exeter. As part of the funding process, these financial institutions securitize the loans, funding them by selling investment notes. 


Below are proof of documents : Document A was sent to Exeter Finance XXXX XXXX DOCUMENT A : I XXXX XXXX are exercising my Right to Rescission 15 U.S. Code 1635 1026.23 for SIMPLE INTEREST VEHICLE CONTRACT FOR SALE AND SECURITY AGREEMENT & VEHICLE RETAIL INSTALLMENT CONTRACT AND SECURITY AGREEMENT established on XX/XX/XXXX, with EXETER FINANCE CORP & XXXX XXXX XXXX XXXX XXXX XXXX. I am not liable for the debt amount acquired due to this was not a Credit Consumer Transaction under 15 U.S. Code 1605 - Determination of finance charge. This information was not disclosed to me at time of sale or business. 2. 3. My finance charge with connections to my consumer credit transaction was not the sum of all charges as provided in 15 U.S.C. 1605 section A. ( 15 U.S. Code 1640 - Civil liability, section A ) any creditor who fails to comply with any requirement imposed under this part, including any requirement under section 1635 of this title, subsection V 15 U.S.C. 81605 part A-F 15 U.S.C. 8 ( f ) or ( g ) of section 1641 of this title, or part D or E of this subchapter with respect to any person is liable to such person in an amount equal to the sum of. The finance charge does not include charges of a type payable in a comparable cash transaction. The finance charge shall not include fees and amounts imposed by third party closing agents ( including settlement agents, attorneys, and escrow and title companies ) if the creditor does not require the imposition of the charges or the services provided and does not retain the charges. XX/XX/XXXX, I was charged Emission inspection fee {$35.00}, Documentary fees {$490.00}, Taxable selling price {$8500.00}, sales tax {$710.00}, Title Fee {$29.00}, XXXX XXXX XXXX XXXX {$2100.00}, GAP {$380.00}, Trade in Allowance {$500.00}, Trade in sales tax credit {$41.00}, Deposit/partial payment {$3000.00}. I paid in cash & with debit card. These charges are considered a criminal act on behalf of the creditor against obligor and were to be covered under the Finance Charge. 15 U.S.C. 8 1605-part A - F, 15 U.S.C. 8 1601-1667f, Tillman Act of 1907 ; Were violated by Exeter Finance Corp & EXETER FINANCE CORP & XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX, as highlighted in yellow on attached contract documents. Your statement was accepted and returned for value as consideration for settlement of this account for the full amount of ( total owed ) /principals balance.It has been noted on the payment acquisition that this 100 % certificate of indebtedness is being accepted for the value indicated ( amount owed ) date of XX/XX/XXXX. 

Per code 15 U.S. Code 1605 Determination of Finance Charge ( a ) Finance charge defined Except as otherwise provided in this section, the amount of the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges, payable directly or indirectly by the person to whom the credit is extended and imposed directly or indirectly by the creditor as an incident to the extension of credit. The finance charge does not include charges of a type payable in a comparable cash transaction. The finance charge shall not include fees and amounts imposed by third party closing agents ( including settlement agents, attorneys, and escrow and title companies ) if the creditor does not require the imposition of the charges or the services provided and does not retain the charges. Examples of charges which are included in the finance charge include any of the following types of charges which are applicable : ( 1 ) Interest, time price differential, and any amount payable under a point, discount, or other system or additional charges. ( 2 ) Service or carrying charge. ( 3 ) Loan fee, finders fee, or similar charge. ( 4 ) Fee for an investigation or credit report. ( 5 ) Premium or other charge for any guarantee or insurance protecting the creditor against the obligors default or other credit loss. ( 6 ) Borrower-paid mortgage broker fees, including fees paid directly to the broker or the lender ( for delivery to the broker ) whether such fees are paid in cash or financed. ( b ) Life, accident, or health insurance premiums included in finance charge Charges or premiums for credit life, accident, or health insurance written in connection with any consumer credit transaction shall be included in the finance charges unless ( 1 ) the coverage of the debtor by the insurance is not a factor in the approval by the creditor of the extension of credit, and this fact is clearly disclosed in writing to the person applying for or obtaining the extension of credit ; and ( 2 ) in order to obtain the insurance in connection with the extension of credit, the person to whom the credit is extended must give specific affirmative written indication of his desire to do so after written disclosure to him of the cost thereof. ( c ) Property damage and liability insurance premiums included in finance charge Charges or premiums for insurance, written in connection with any consumer credit transaction, against loss of or damage to property or against liability arising out of the ownership or use of property, shall be included in the finance charge unless a clear and specific statement in writing is furnished by the creditor to the person to whom the credit is extended, setting forth the cost of the insurance if obtained from or through the creditor, and stating that the person to whom the credit is extended may choose the person through which the insurance is to be obtained. ( d ) Items exempted from computation of finance charge in all credit transactions If any of the following items is itemized and disclosed in accordance with the regulations of the Bureau in connection with any transaction, then the creditor need not include that item in the computation of the finance charge with respect to that transaction : ( 1 ) Fees and charges prescribed by law which actually are or will be paid to public officials for determining the existence of or for perfecting or releasing or satisfying any security related to the credit transaction. ( 2 ) The premium payable for any insurance in lieu of perfecting any security interest otherwise required by the creditor in connection with the transaction, if the premium does not exceed the fees and charges described in paragraph ( 1 ) which would otherwise be payable. ( 3 ) Any tax levied on security instruments or on documents evidencing indebtedness if the payment of such taxes is a precondition for recording the instrument securing the evidence of indebtedness. ( e ) Items exempted from computation of finance charge in extensions of credit secured by an interest in real property The following items, when charged in connection with any extension of credit secured by an interest in real property, shall not be included in the computation of the finance charge with respect to that transaction : ( 1 ) Fees or premiums for title examination, title insurance, or similar purposes. ( 2 ) Fees for preparation of loan-related documents. ( 3 ) Escrows for future payments of taxes and insurance. ( 4 ) Fees for notarizing deeds and other documents. ( 5 ) Appraisal fees, including fees related to any pest infestation or flood hazard inspections conducted prior to closing. ( 6 ) Credit reports. ( f ) Tolerances for accuracy In connection with credit transactions not under an open end credit plan that are secured by real property or a dwelling, the disclosure of the finance charge and other disclosures affected by any finance charge ( 1 ) shall be treated as being accurate for purposes of this subchapter if the amount disclosed as the finance charge ( A ) does not vary from the actual finance charge by more than {$100.00} ; or ( B ) is greater than the amount required to be disclosed under this subchapter ; and ( 2 ) shall be treated as being accurate for purposes of section 1635 of this title if ( A ) except as provided in subparagraph ( B ), the amount disclosed as the finance charge does not vary from the actual finance charge by more than an amount equal to one-half of one percent of the total amount of credit extended; or ( B ) in the case of a transaction, other than a mortgage referred to in section 1602 ( aa ) [ 1 ] of this title, which ( i ) is a refinancing of the principal balance then due and any accrued and unpaid finance charges of a residential mortgage transaction as defined in section 1602 ( w ) 1 of this title, or is any subsequent refinancing of such a transaction ; and ( ii ) does not provide any new consolidation or new advance ; if the amount disclosed as the finance charge does not vary from the actual finance charge by more than an amount equal to XXXX percent of the total amount of credit extended. ( Pub. XXXX XXXX, title XXXX, XXXX, XX/XX/XXXX, XXXX XXXX. XXXX ; Pub. XXXX XXXX, title VI XXXX, XXXX. XXXX, XXXX, XXXX XXXX. XXXX ; Pub. XXXX XXXX, XXXX ( a ), ( b ) ( XXXX ), ( c ) ( XXXX ), XXXX ( a ), XXXX XXXX, XXXX, XXXX XXXX. XXXX, XXXX ; Pub. XXXX XXXX, title X, XXXX ( XXXX ), XX/XX/XXXX, XXXX Stat. XXXX. ) You, ( Exeter XXXX Bank ) signed off knowing this was not a credit consumer transaction and you authorized the third party dealership ( XXXX XXXX XXXX ), to part take as your representative. Which makes Exeter XXXX Bank and XXXX of XXXX both responsible parties for the misconduct, fraudulent, and predatorily contract. Due to no resolution I will be moving forward with filing a complaint in court.

Company response to consumer: Closed with explanation