Consumer complaint received 2019-08-19
Company: Service Finance Holdings, LLC
State: OH
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Problem when making payments

Complaint:
In XX/XX/2019, I had a new roof installed on my home.  The cost was $XXXX and the financing was initially secured with Service Finance Company LLC.  S.F.C. home base of operations is in Florida, which added to my difficulty in them receiving my payoff checks  for some reason, but my inital payment paid on XX/XX/19 check number XXXX for $XXXX was received and posted ok to my account.  But, when I tried to pay off the loan balance by phone on XX/XX/19 in the amount of $XXXX via A.C.H. payment the payment was supposedly rejected, with a confirmation # of XXXX. S.F.C. states their representative entered the checking account information correctly, and my checking account information was verified the routing and account number used were correct.  They don't know what happened, this checking account is associated with a line of credit with plenty of balance to handle the $XXXX payoff.  So after discovering this on XX/XX/19, I mailed a check to their XXXX XXXX XXXX in XXXX, Ohio, per their statement and instructions.  This check was in the amount of $XXXX dated and mailed out XX/XX/19 check # XXXX.  On XX/XX/19 I discovered that this check according to S.F.C. had not been received in XXXX, I later found this to be untrue, by letter from my Bank dated XXXX stating they had attempted to cash check XXXX but due to the stop payment I placed the payment was rejected.  On XX/XX/19 I went to the bank and ordered another check.  I then mailed to SFC check number XXXX   on XX/XX/19 in the amount of $XXXX per their instructions to compensate for additional interest, approximately $XXXX per day.  I paid for a certified mail receipt on XX/XX/19 and I learned that SFC received this payment check #XXXX on XX/XX/19 at XXXX XXXX. but the payment was not processed until Monday XX/XX/19.  I shared this tracking information with SFC.  SFC corporate address as far as I know is XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Florida XXXX phone XXXX, fax XXXXAfter several phone calls to SFC, and requesting to be refunded $XXXX   which is the difference between check number XXXX   $XXXX-$XXXX check # XXXX, SFC denied my request and informed me their was a $XXXX balance on my account.  They did credit me the $XXXX (approximately, no statement sent to me).  After careful consideration, I have decided to ask the CFPB to investigate this transaction.  I would like a full refund now that extends back to the balance of my loan on XX/XX/19 which was $XXXX subtract my final payment of $XXXX=$XXXX.  However, I would be somewhat content with $XXXX as stated above.  I feel that SFC used predatory loan practices in processing my payoff amounts in an obvious attempt to postpone payments as to keep interest accruing on my loan balance, due to the fact that they told me they did not receive check # XXXX $XXXX at their P.O. Box in XXXX, Ohio, when in fact SFC did receive the check someday before XX/XX/19, as I can prove by the letter dated XX/XX/19 sent to me by my bank.

Company response to consumer: Closed with monetary relief