Consumer complaint received 2017-04-04
Company: Go Capital Holdings, LLC
State: TX
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Problems when you are unable to pay

Complaint:
I have a car loan through Go Financial Services in which I had been making payments on the car loan as well as staying in communication regarding any late payments. In XX/XX/2017 I made a payment of {$500.00}, {$210.00} above my normal car payment in an effort to help get caught up from a past due payment. Due to some financial difficulty, I unfortunately missed my XXXX and XXXX Payment. I called into the office on XX/XX/XXXX and was told my account had been charged off. I did not receive any correspondence or communication of any kind prior to that stating that my account was in the process of being charged off nor did I receive a charge off date. The representative in management I spoke with was a female and I explained to her that I was calling into make a payment on the car loan and that is when she stated the account was charged off and it would be {$1000.00} to pull the car out of the charge off phase and keep the car from being repossessed. This was quit disturbing being that I had no idea that the account was in this status. I told her I did n't have XXXX but had XXXX that I could pay today and asked if there was any way they could work with me to get the remaining balance paid off. She stated you can make the payment but it would n't take it out of charge off status or keep it from being repossessed. There has been no repossess notice sent out nor could she confirm one. She suggested that I see what I could come up with in addition to the {$300.00} and give them a call back today. My wife and I called and spoke to XXXX ext. XXXX today another manager in the same department who confirmed the call from yesterday and stated I would have to pay XXXX to bring the account out of the charge off department and stop the repossession request. He also stated that they would then place the account back into a repayment plan but there would be no grace period on the repayment, and should I miss XXXX payment they would reinstate the repossession on the car. I asked was there any way if I where able to pay {$500.00} on the fee today could they work with me to take care of the rest. He said no. This was disheartening being that I never received any correspondence relating a charge off pending on the loan and called in 3 days after the car was charged off. According to XXXX the car loan was charged off on Friday, XX/XX/XXXX. I shared my concern with XXXX and asked if there was a supervisor that I could speak with that might be able to help me further and he said no, and that he and the young lady I spoke with yesterday where the only XXXX individuals managing the department, there was no one else. How disappointing that they have no grace to work with individuals who are trying to present options to take care of the fee they where requesting, he stated I understand but we have policy 's that we have to go by. I asked for his information and stated that I would have to contact him back.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation