Consumer complaint received 2021-12-06
Company: Finco Holding Company LLC
State: UT
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Lender trying to repossess or disable the vehicle

Complaint:
I purchased a vehicle and they have that starter lock on it I had some hardships come upon me were I was not able to make the payment, they were notified that the payment was not be able to be made on the date that it was due prior before the due date and they had chose to not acknowledge the warning that I would not be able to make the payment on time not even a few days after the payment is due the vehicle starter lock was engaged and I and vehicle was disabled from being started they claim they can not unlock the vehicle to start for me to be able to use it until a payment is made they have asked if I have family members I can ask for money to make the card payment or get money from to make the payment when the payment was only a couple days late as of today it is still not even 30 days past the due date. My wife and I are the ones that are on the loan and at the time it was acquired we were both working when she had lost her job and was no longer working we had let them know and had requested if there was any way to lower the payment because our income had been decreased and they rejected that request knowing that it was only one income at the time now. I live in northern Utah not in XXXX XXXX XXXX where the public transportation is lacking it does not go into a good majority of The metropolitan areas it only sticks to main thoroughfares. And for a good portion of the time during the pandemic the public transportation was not even operating at the hours that I needed to get to work where I would have to Walk to work that was 6.5 mi roughly away from where I lived and that would mean that I would have had to leave my home about XXXXXXXX XXXX. to make it to work on time by XXXX XXXX. for 5 roughly 6 days a week. This is not the first time they have locked the starter One or two days after the payment was due and when they do it they send an email about 30 minutes before they close asking to contact them immediately so when I see the email they have already closed and left office and my car is disabled for the remaining night until the morning when they come back to work if not over the weekend. I have had to resort to the to the restricting the methods of contact with them because the day the payment was due first thing in the morning when their office was opened they were calling and calling over and over until someone answered saying that the payment is due what it is late they have even resorted to calling my work trying to get a hold of me the day the payment is due not given me and ample time to make the payment of the due date. As of last communication with them I was told that the car can not be unlocked until I payment is made directing me to find the money somehow someway borrow it from someone etc etc now the car has been locked for well over a week with another two weeks to before they end it to collections which really means repossession it is unconscionable that they can restrict the use of it feed lies to my wife and myself about how to get it unrestricted all the while setting it up for repossession while I have no access or use of it for the last 30 days in that point in time and demand payment while not having said vehicle to be able to look for. A job or get to and from job interviews I've recently had to turn down job due to my ability to get there it's a self-fulfilling prophecy when they have that much control that they can cause you to default on their loan by restricting your use of the vehicle

Company response to consumer: Closed with explanation