Consumer complaint received 2021-03-18
Company: LoanCare, LLC
State: PA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
LoanCare, XXXX XXXX XXXX XXXX  XXXX, VA XXXX, took over our lone XXXX of XXXX. Our previous loan was set up on bi-monthly payments, and when it was transferred over to loan care bi-monthly payments continued. I cant say for sure if this was automatic or at our request. As far as we knew everything was OK. We seldom, if ever check bank statements or loan statements, since it was set up on auto draft. Forward to XX/XX/XXXX, we opened our loan statement because our tax documents were enclosed, and come to find out that our loan was behind, even though all payments were made. We immediately called on XX/XX/XXXX, after fumbling thru their overlay complicated phone system to get to a live person, which tried to say we missed a payment, and then to a supervisor. I was informed that a payment was misapplied, that they would take care of it, and that nothing would be reported since it was their error. Forward to XXXX, we get another late statement. Again, I immediately call on XX/XX/XXXX, fumble thru their phones system, again told we missed a payment. After demanding to talk to a supervisor, I was informed again, by a supervisor, that they misapplied a payment, that they would get it corrected, and that nothing would be reported. I was also informed at this time that the reason for the issues was due to their system not being set up for bi-monthly payments? And that we would probably keep running into this issue. Forward 1 week, I get a text from my credit monitoring service that a late payment was reported from this company. I immediately call again on XX/XX/XXXX, and again on XX/XX/XXXX, again fumble thru their phone system, talk to another person that tried to blame it on us, and was eventually forwarded to a supervisor again. I was informed again that they misapplied a payment, and now they couldn't do anything about it because of tax reason since the orginal misapplied payment was from XXXX of last year ( I was never informed of this till now ). I was also informed that auto withdrawal was suspended for some unknown reason and that we owed a month and a half back payment ( again I was never informed or aware of this untill this conversation ). 1 month due to the auto withdrawal suspension and the rest form the misapplied payment. We immediately paid what was now owed, and told them to switch our auto draft to 1 monthly payments. My girlfriends and I XXXX XXXX has dropped by over XXXX points, which XXXX sure will XXXX XXXX up my credit card and other loan interest rates. Today, XX/XX/XXXX. I logged into their site to download our past statements, and discovered that they updated all our payment information, yet failed to reinstate our auto draft, which would have led to another late payment if I wouldnt have picked up on it. 
I decided to research this company on XXXX and discovered I'm not the only one that they set up on bi-monthly payments, for which their system doesn't support, and wound up being reported to the credit bureaus do to Loan Care 's error. 
Attached is statements, that I downloaded on XX/XX/XXXX to try and figure out what happened. As you can see starting XX/XX/XXXX, after I called them they tried to fix it, but apparently to no avail.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation