Consumer complaint received 2023-06-29
Company: Grain Technology, Inc.
State: VA
Product: Payday loan, title loan, or personal loan
Sub-product: Personal line of credit
Issue: Problem when making payments

Complaint:
On XX/XX/XXXX, I mailed a payment to Grain Technologies in the form of a USPS money order ( Serial # XXXX ), because one of their payments ( in XX/XX/XXXX ) was returned undeliverable. I sent the payment via USPS Priority Mail with Tracking # XXXX XXXX XXXX XXXX XXXX XXXX. The payment was delivered by USPS to the address on the Grain Technology billing statement on XX/XX/XXXX, at XXXX XXXX  and left with the front desk, reception area or mail room. The documentation is attached. 

However, once the payment wasn't posted to my account, I reached out to Grain Technologies and was told by XXXX XXXX, that " It can take up to 4 weeks before payment is applied to your account. '' This is in direct contradiction of their policy as shown on their billing statements and attached to this complaint. I replied that this payment was sent on XX/XX/XXXX, and that the amount of the payment was {$85.00}. I never received a response. 

This is problematic because the first payment mailed to that address was returned undeliverable. That returned payment caused Grain to enter a late payment on my account, which would have otherwise been on-time. This caused my credit score to dip because of their unprofessionalism by not sending me a payment link when requested. There's absolutely no reason that a company shouldn't send a customer a link to make an online payment, especially if they are contacted ahead of time with concerns about the payment being late. 

This payment appears to be lost and isn't reflected on my account, although it's been more than 5 business days. 

What is going on with this company? Someone needs to be held accountable for this, especially with the number of XXXX complaints and CFPB complaints. Where is the payment? USPS Money orders are as good as cash. 




Here 's what the statement says : When Payment is due and when will you Credit My Payment? 
We must receive at least the Minimum Payment due on your Account on the Due Date by, ( 1 ) XXXX XXXX Eastern Time for payments made on line ( through the Grain Application ) or ( 2 ) XXXXXXXX XXXX Pacific Time for payments made by mail ( in each case, as applicable, the " Cut-Off Time '' ). We must receive at least the Minimum Payment due on your Account by the Cut-Off Time on the Payment Due Date of each billing period. Payments received after the Cut-Off Time will be credited as of our next business day. Credit to your Account may be delayed for up to five ( 5 ) days if we receive a payment that does not adhere to the requirements set forth in this section and on your statement. The available credit on your Account may not reflect your payment for up to fifteen ( 15 ) business days or longer if we doubt the collectability of the payment or if we suspect fraudulent activity on your Account. Nonetheless, we will credit your payment to your Account as of the business day that we receive it ( provided we receive it prior to the Cut-Off Time ).

Company response to consumer: Closed with explanation