Consumer complaint received 2022-04-02
Company: PREFERRED LOANS LLC
State: LA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
On XX/XX/XXXX I entered a consumer credit transaction sale for a used car not a loan pursuit to 15 usc 1602i. The dealership failed to explain the contract clearly and conspicuously along with a given notice that I had 3 days to rescind the agreement pursuit to 15 usc 1635a. I was told we had to put a down payment of {$2000.00} down to leave with the vehicle which 15 usc 1605 states that the finance charge ( 12CFR 226.4 ) is the sum of all charges and does not include charges of a type payable in a comparable cash transaction. I was never given the contract until I reached back out to them XX/XX/XXXX due to COVID-19 and the fact that I gave birth that same year. I was never told that my contract was sold to Preferred Loans and that I had to contact them for a copy. My monthly payments were on Autopay and I really didn't paid attention to who was drafting my acct. I didn't give XXXX XXXX permissible purpose to give my information to a third party. I contacted them and they referenced that the dealership has it not them. XX/XX/XXXX XXXX in a row I've contacted XXXX XXXX XXXX to get the contact with no success. On XX/XX/XXXX I decided to go there and receive it and was given a copy. As I was reviewing the contract I found numerous violations from TILA, USC Title 15, Ch 41, UCC Ch3, CFR Ch12 and documents that were forged that I nor my husband recognized or signed. I also find one that was never in the paperwork that was forged ( UCC 3-403 ) as I had no knowledge that we had a warranty. XXXX XXXX, XXXX I sent a copy of the Right of Recission , Affidavit of Truth along with the Exhibits of the contract to all partys ( XXXX XXXX and XXXX XXXX XXXX and Preferred Loans ) with a return slip and certified. The documents sent to Registered Agent was returned back XX/XX/XXXX. 
On XX/XX/XXXX Preferred Loans sent a repossession company to my home to repo the vehicle which again broke the law 15 usc 1693e and it was on private property which violates trespassing private property. In order for them to not take the vehicle we were forced, pressured, threated and insulted verbally to pay {$1000.00}. It was an embarrassment to have a tow guy come to your home on private property and caused me to have a XXXX  and XXXX XXXX because I've never dealt with a situation like that. A billing error notice was sent out to them via certified with return slip ( tracking # XXXX XXXX XXXX XXXX XXXX ) XX/XX/XXXX. XX/XX/XXXX I returned phone call to XXXX, CEO to Preferred Loans, in regards to the contact that was sent over to them. She stated that I signed the contract with XXXX they have nothing to do with it as they only purchased the contract so I need to deal with them with the violations. I haven't heard anything back from them so I sent over a Conditional Acceptance letter XX/XX/XXXX via certified mail ( tracking # XXXX XXXX XXXX XXXX XXXX ). I'm trying to resolve this in a private matter before going to the courts. All documents are included in this complaint that was sent. I've also forwarded this information to Attorney General XXXX XXXX.

Company response to consumer: Closed with explanation