Consumer complaint received 2020-08-03
Company: Yamaha Motor Finance Corporation USA
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
XX/XX/XXXX XXXXamaha Motor Finance acquired our boat loan from XXXXXXXX XXXX. From that time, we have had issues with : 1. How the payments are applied and or the printed mailed statements matching the online statements 2. The balance owed increasing vs decreasing even when minimum or extra payments made early or on time 3. The latest statement dated XX/XX/XXXX shows late fees for the months of XXXX, XXXX, and XXXX when these were not notated on previous statements or brought to our attention when we spoke to the customer service representatives or supervisors. 

Details of Conversations and money payed to Yamaha : 1. ) XX/XX/XXXX notes : a. Spoke with XXXX customer service representative b. Reviewed our payment history from XXXX : - XX/XX/XXXX : {$700.00} online pay ( was still XXXX  on this date ) - XX/XX/XXXX : {$150.00} online pay - XX/XX/XXXX : {$430.00} online pay - XXXX XXXX : {$430.00} from online Pay - XX/XX/XXXX : {$300.00} ( We notified Yamaha we didn't pay this ( XXXX said payment method was " lock box '' -- " lock box '' check or money order via mail ) ** checked We checked our bank -- no check or withdrawal for {$300.00} listed - XXXX said any payments above are applied to : repo fee, then late fee, then past due, then current principal and interest, then future principal ( as applicable ) ** we did not have any fees, but it doesn't seem to have applied to Principal c. Requested XXXX turn off auto-pay which is set up for {$430.00} -- she told me she did it. -- We didn't want any additional $ $ going to them until we get a better feel on what was going on with billing d. On XXXX XX/XX/XXXX I paid online the 'Current Due ' of {$120.00} from 'Account Home '. Implications is that's the remaining 'typical ' balance after the mysterious {$300.00} 'lock box ' payment. 
e. XXXX even asked is we were looking to refinancing due to the billing problems 2.  ) XX/XX/XXXX notes : a. spoke to XXXX customer service representative b. shared our frustration of auto pay taking out a payment of {$430.00} even after we requested it be stopped when speaking with XXXX in XXXX and were told auto pay was stopped c. because auto pay continued, there were three payments noted our account for the month of XXXX -- {$300.00} posted XXXX {$120.00} posted XXXX and {$430.00} posted XX/XX/XXXX d. XXXX stated he found where the auto pay was not turned off in all spots needed. He stated he did the necessary steps and that is now turned off -- all future payments will need to be made on line manually through our account page e. I asked that all of the remaining extra money on our account be applied toward principal and not the future months payment. XXXX state he saw that {$430.00} was showing as additional money and that he requested it be applied to principal and it would take up to five days to show up on our account 3. ) XX/XX/XXXX notes a. spoke with XXXX customer service representative b. requested to speak with a manager or supervisor and was told I had to state a reason to her first c. I shared frustrated because our current statement dated XX/XX/XXXX showed {$0.00} due even though we had requested all extra money be applied to principal ; therefore the regular payment amount of {$420.00} should be required. We also shared that the balance due on the statement increased this month instead of decreasing d. XXXX looked at our account and verified my complaint and stated she could not help me so she placed me on hold to get a supervisor e. After a 15 minute way XXXX came back to say no supervisor was available and continued to explain our balance was higher because of interest accrued daily f. XXXX continued to explain we do in fact have a payment of {$420.00} due for XXXX even though our statement showed {$0.00}. She explained this is because the extra money was not applied until after monthly statement was printed ( **We would not have know this if we did not callthis is a problem ) g. We requested again to speak to a supervisor and was told none available but she would put our request in the system and a supervisor would call us back. A good contact phone number was confirmed. 
4. ) XX/XX/XXXX notes : a. spoke with XXXX customer service representative b. Purpose of call was to speak to a supervisor because we still had not received a call back from our previous request on XX/XX/XXXX. 
c. XXXX reviewed our previous call notes and our account information. At this point he stated the computer showed we owed {$850.00} instead of our regular payment of {$450.00} which was the one given by XXXX on XX/XX/XXXX call. 
d. XXXX was confused because he could see our overpayments and paying ahead in the previous payment history. At this time he place us on hold to verify why the amount owed was double our regular amount and to try and get a supervisor on the line e. XXXX transferred us to XXXX a supervisor in the department f. XXXX confirmed computer statement showed {$850.00} as current amount due and printed statement showed {$0.00} due. He also confirmed the statement balance owed had increased from last statement even with all of the payments made. 
g. XXXX placed us on hold to speak to upper management about the issue. When he returned to the call, he stated he had spoken with billing department and they said the amount due was wrongit should be {$450.00}. We were to pay the amount of {$450.00} and we not be charged any late fees because the system was wrong and had to be fixed. 
h. XXXX also stated our balance had increased instead of decreasing is due to interest accrual daily and the previous monthly statement balance was based on extra money on our account were placed on future payments vs principal. 
i. We requested a copy of the amortization table be sent to us so we could see how our payments had been applied each month. XXXX confirmed our mailing address as well as our email address to send it to. ( We never received this table and we checked spam folder daily as well as regular mail folder ) 5. ) XX/XX/XXXX notes : a. spoke to XXXX b. We asked to speak to a supervisor to clear up account issues. She reviewed our last account notes and immediately transferred me to the supervisor line. 
c. spoke to XXXX department supervisor d. Shared our confusion of the monthly statement that stated we had late payment fees for the dates of XX/XX/XXXX {$79.00} ; XX/XX/XXXX {$39.00} ; XX/XX/XXXX {$39.00} when we had never been late with a payment and in fact had prepaid several months. These late fee payments have not shown on any previous statements and also have not been shared with us with a customer service representative when we called. 
e. Shared our confusion that the statement showed {$370.00} due ( our regular payment is {$450.00} ) Current amount due is less than the regular scheduled payment and yet it showed the late fees so this did not make any sense. 
f. XXXX reviewed our payment history and account notes. She agreed the late fees were not valid and she would send a request to the billing department to correct. She stated the current amount due is less than our scheduled amount due because we paid {$420.00} six days early last month so {$50.00} had been applied to the month of XXXX payment (??? what??? ) g. We also brought up the current balance due on the statement increased again from the previous statement. Her explanation was, again, the daily interest accrual -- -- How is a loan ever supposed to be paid off is it always increases even with the magical extra payments??? 
h. We requested again for the amortization table. XXXX said the computer showed it was emailed to us on XX/XX/XXXX ; however, we never received it. We re-confirmed our mailing address and email address and asked we get the amortization table both electronically and hard copy. 
i. We asked to speak to someone in management to escalate our concerns and frustrations and XXXX stated supervisor staff was the highest level we could speak to by phone but we could request an explanation of our account in writing via an email. 
j. We constructed and sent an email to the address provided on XX/XX/XXXX and awaiting reply

Company response to consumer: Closed with explanation