Consumer complaint received 2019-07-31
Company: LoanCare, LLC
State: AZ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Prior to XX/XX/2019, had a loan on a rental property and loan with XXXX, XXXX XXXX XXXX XXXX XXXX SD, XXXX 
Never missed any monthly payments. I always pay in excess of the payment required. 
XX/XX/2019. 
Received notification that XXXX was going into bankruptcy and that my loan had been transferred/sold to LoanCare. Received a letter from LoanCare with payment address but no loan number. 
Loan Care, XXXX XXXX XXXX XXXX XXXX VA XXXX 
Payment address : LoanCare, XXXX XXXX XXXX XXXX XXXX XXXX CA XXXX I set up my bill pay to make the XX/XX/2019 payment on XX/XX/XXXX of {$770.00} ( in excess of amount due ) to the new address assuming the loan number was the same. 
After the payment was made, I received an invoice from LoanCare with a different loan number. I changed my bill payment settings, inserting the new loan number and verified the payment address was correct, and it was, and that payment was scheduled for XX/XX/2019 for {$770.00}. 

XX/XX/2019 LoanCare begins sending letters that they have not received any payments on the loan they assumed from XXXX as of XX/XX/2019 and threatening me with foreclosure. I was out of town until XX/XX/XXXX and received those letters at that time. 
In fact, as indicated above, I made a payment of {$770.00} was sent to Loan care on XX/XX/XXXX and another for {$770.00} was made on XX/XX/XXXX. I logged onto my banking system an confirmed those payments had been made and transactions completed. 

XX/XX/2019 Spoke with LoanCare customer service. 
They said they can find the XX/XX/XXXX payment, posted to the original XXXX account #. The representative has set up a request to move those $ to the correct account. Can not find the XX/XX/XXXX {$770.00} payment and asked for a bank receipt showing that amount. 

XX/XX/2019 Sent a letter to Loan Care summarized here : Loan Care LLC Attn : Loss Mitigation XXXX XXXX XXXX XXXX XXXX VA XXXX  This loan was recently transferred from XXXX, The XXXX payment in the a-mount of {$770.00} was made on XX/XX/2019 ... Processed XX/XX/XXXX, confirmation code : XXXX. The payment was directed to the original XXXX account # as I had not yet received an invoice or account number information from Loan Care. 

Upon calling Loan Care rep on XX/XX/2019, the XXXX payment was found and the representative initiated a transfer to the correct account. 

The XXXX payment in the amount of {$770.00} was made on XX/XX/2019 ... Processed XX/XX/XXXX, confirmation code : XXXX. The payment was directed to the Loan Care account # as per Loan Care invoice. 

According to the representative I contacted on XX/XX/2019, the XXXX payment was not posted into the account and can not be found. I have contacted_BANK_ and they will be sending proof of payment directly to Loan Care. 

Please adjust the records. None of the payments have been late. 

XX/XX/2019 Spoke with the bank and they have a direct contact info with LoanCare and will send receipt of payment of the XX/XX/XXXX {$770.00} payment directly to LoanCare and cc : XXXX XX/XX/2019 Received confirmation from bank representative via phone call, that the receipt was sent. 

XX/XX/2019 Set up an online account with LoanCare. It shows they have logged no payments to the loan number. 

XX/XX/2019 Spoke with collections XXXX or XXXX?, no help at all. Just asked me constant detailed questions for identification purposes and could not help find these missing payment. Transferred me to customer service. 

On XX/XX/2019 Spoke with XXXX, in customer service. She sees the payment reversal request that has not been processed yet ( Really! Why was it not processed??? ) and it makes note that the XXXX payment needs to be 'searched for '. XXXX is going to escalate the payment reversal request to reverse the XX/XX/XXXX payment request and search for the XXXX payment ; and will add a notation that the bank has sent in a receipt showing the XX/XX/XXXX payment was made to this account. 
She is unable to verify that the receipt of XX/XX/XXXX payment was received by LoanCare, she is unable to verify whether my letter was received, and she is unable to attempt to look for the missing XX/XX/XXXX payment that was made, confirmed by my bank. 

Summary This disreputable company is apparently unable to properly log payments, unable to identify the payments made by people, they are making threats, sending out collection notices, and destroying my excellent credit. A search online shows I am one of MANY people experiencing the same issues with this company.

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