Consumer complaint received 2023-07-24
Company: Westlake Services, LLC
State: FL
Product: Payday loan, title loan, or personal loan
Sub-product: Title loan
Issue: Loan payment wasn't credited to your account

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Florida, XXXX XXXX XXXX XX/XX/2023 Subject : Notice of Breach of Agreement due to Violations of Regulation Z Dear XXXX XXXX, in his private capacity I hope this letter finds you well. I am writing to bring to your attention significant concerns regarding violations of Regulation Z, which have resulted in a breach of our agreement. This notice serves as a formal communication regarding the breach and seeks resolution in accordance with applicable laws and regulations. 

1. Agreement Details : Agreement Date : XXXX Agreement Reference Number/Note Number : # XXXX / # XXXX Parties Involved : XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Breach of Agreement : It has come to my attention that the finance company, as the creditor, has violated Regulation Z, a federal regulation implemented under the Truth in Lending Act. The specific violations of Regulation Z include, but are not limited to, the following : Failure to disclose accurate and complete information regarding the terms of the loan, including interest rates, finance charges, and any other applicable fees. 
Non-compliance with the requirements for providing clear and conspicuous disclosures, resulting in confusion and misleading information for the borrower. 
Failure to comply with the right of rescission, as outlined in Regulation Z, which grants the borrower the right to cancel certain types of transactions within a specific timeframe. 

3. Impact and Damages : These violations have had a significant impact on my rights as a borrower and have resulted in financial and legal damages. The violations of Regulation Z have caused undue stress, financial hardship, and a loss of confidence in the finance companys ability to fulfill its obligations under our agreement. 
4. Notice of Breach and Request for Resolution : Through this notice, I formally declare that the finance companys violations of Regulation Z constitute a breach of our agreement. I hereby request that the finance company promptly rectify the violations and provide the necessary remedies, including but not limited to : Correcting and providing accurate and complete loan disclosures as required by Regulation Z. 
Revising and amending any erroneous terms or conditions in the loan agreement. 
Compensating for any financial losses, damages, or legal expenses incurred as a result of the violations. 

5. Timeframe for Resolution : I expect a written response from the finance company within 7 days from the date of this letter. The response should include an acknowledgment of the violations, a detailed plan to rectify the breaches, and a proposed timeline for implementing the necessary remedies. 
6. Legal Remedies : Please be advised that if the finance company fails to address and rectify the breaches of our agreement within the specified timeframe, I reserve the right to pursue legal remedies available to me under applicable laws and regulations. This may include filing complaints with regulatory authorities, seeking damages through legal channels, and taking any other necessary legal actions to protect my rights and interests.

I trust that the finance company recognizes the seriousness of the breaches and the importance of resolving this matter promptly and in good faith. I remain open to an amicable resolution that upholds the principles of fairness and compliance with the law. 

Thank you for your immediate attention to this matter. I anticipate your prompt response and a resolution that ensures the protection of my rights as a borrower and the adherence to regulatory requirements. 

Yours sincerely, XXXX XXXX XXXX XXXX, XXXX.

Company response to consumer: Closed with explanation