Consumer complaint received 2023-01-21
Company: Dividend Finance Inc.
State: TN
Product: Debt collection
Sub-product: I do not know
Issue: Took or threatened to take negative or legal action
Sub-issue: Threatened or suggested your credit would be damaged

Complaint:
XXXX XXXX, I had solar panels installed on my home by XXXX XXXX XXXX XXXX The finance for the solar panels is Dividend Finance. There was no application process for this loan. My wife and I were asked our monthly income amount and that was all it took, Predatory Lending. On XX/XX/XXXX, Dividend Finance calls to tell me that I have been installed and my payments would begin 60 Days from the install date. The system installed was not operational and had not passed any inspection. I informed Dividend Finance that I did not want to begin payments until I had an operational system. I made several calls to Dividend Finance in the following months because 6 months later the inspections were completed and in XXXX XXXX XXXX the system became operational. I had paid even though I did not approve because I did not want to disrupt my perfect credit score. 
In the first week of XXXX, my wife and I noticed that our solar panels were not operating as before. I contacted XXXX XXXX XXXX about the issue, and they directed me to XXXX. I was informed of an issue with a connector that XXXX supplies for the Solar panels. I scheduled an appointment with XXXX to have a repair person come to my home. I received letters and emails from both XXXX XXXX XXXX and XXXX concerning the issue with the XXXX XXXX connectors and the repairs, but no one came to my home. 
In the meantime, I discover that XXXX XXXX XXXX and XXXX were at odds with each other. I understood that XXXX XXXX XXXX was filing a lawsuit against XXXX. We are well into XXXX XXXX XXXX, and I receive an email stating that XXXX XXXX XXXX was filing bankruptcy and closing the doors to the business. There goes any and all workman warranties on the solar panels I purchased. 
I contacted Dividend Finance and informed them that my system had not been working since XXXX and now XXXX XXXX energy has filed bankruptcy. Dividend Finance was aware of the situation and mentioned giving me a 4 month deferment on my loan. However, after I concluded my phone call that was the one and ony time I heard of any deferment. On XX/XX/2022, I stopped payment on this loan and have contacted Dividend Finance each month since telling them why I stopped payment. My credit score has now been damaged by XXXX points and my perfect credit score is diminished. 
I have since learned more about XXXX XXXX XXXX and Dividend finace and the predatory methods in which they gained customers. Now XXXX XXXX XXXX is in bankruptcy litigation, Dividend Finance is a predatory lender and holding myself and many others hostage over a loan that was overpriced in the beginning. 
I tried to use the resources of the sun to negate high electrical cost and to be a more green member of society. However, I am now being held hostage to the electrical company and the rising cost of electricity and to Dividend Finance. this is a predatory company and will destroy a good man 's credit over a system that was overpromised and under delivers.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation