Consumer complaint received 2018-02-14
Company: BANK OZK
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
Hello, This note is regarding my attempts to collect payment from either Bank of the Ozarks, or XXXX XXXX XXXXXXXX XXXX   in the amount of XXXX . I am attempting to collect a refund because payments were made to closed accounts for a period of 6 months. The accounts in question had services and ownership transferred on XX/XX/ and 6 payments in the amount of XXXX $ were paid after that time. To summarize : 1. Bank of the Ozarks was the lienholder of my car note and provided loan servicing prior to XX/XX/. Automatic Bill Pay from my XXXX XXXX Checking account was set up with Bank of the Ozarks prior to the transfer of the loan servicing on this date. 

2. According to a Bank of the Ozarks internal memo ( attached ), servicing on the loan was transferred to XXXX XXXX XXXX, XXXX. on XX/XX/. XXXX XXXX XXXX, acquired by Bank of the Ozarks through merger, maintained the lien according to the attached memo. I was never made aware of this transfer of loan servicing prior to collections call from XXXX XXXX XXXX in mid-XXXX. I proceeded to make the monthly payment to Bank of the Ozarks. 

3. After the collection call from XXXX XXXX XXXX, I grew frustrated with the fact that my loan servicing had been transferred multiple times in the past two years. I requested refinancing of the vehicle through XXXX XXXX XXXX XXXX on XX/XX/. XXXX XXXX check to purchase the lien was cashed on XX/XX/. The lien was transferred in XXXX to my understanding. 

4. Through an oversight of my own, automatic payments were still made to Bank of the Ozarks from XXXX to XXXX. I cancelled the automatic bill pay in XXXX upon learning of this discrepancy. 

5. In XXXX, I began attempts to collect the funds that were paid into the closed account. I was told on the phone by Bank of the Ozarks customer service that the funds were forwarded to XXXX XXXX XXXX. Over the course of the following weeks, I was told via phone by XXXX XXXX XXXX ( XXXX ) that they did not have me in their system. On one occasion in mid-XXXX, one person at XXXX finally stated that a check would be issued to me and would arrive the next week. That check was never received despite me confirming my address on that call. 

6. Today, I once again was told via a phone call with a XXXX representative that they would request authorization to refund the amount to me. Due to the history in this case, I feel I have reason to doubt that this will occur. However, it also concerns me that Bank of the Ozarks has been unable to produce documentation of fund transfer to XXXX despite my requests to provide such evidence. 

It is my belief that Bank of the Ozarks has cashed my checks into an account that they knew was closed. It makes no sense to me why they would forward funds to a third-party agency, when Bank of the Ozarks held the lien, either directly or through an acquired bank, during this period. I seek a refund of these payments in the amount of XXXX. I seek this payment from either Bank of the Ozarks, or XXXX XXXX XXXX. 

Thank you.

Company response to consumer: Closed with explanation