Consumer complaint received 2016-03-22
Company: Duvera Billing Services, LLC
State: IL
Product: Consumer Loan
Sub-product: Installment loan
Issue: Managing the loan or lease

Complaint:
The agreement that I entered into had a 90 day Interest Rebate Promotion that states as follows : 90 Day Interest Rebate Promotion ( Rebate Processing Fee required ) Your contract includes a 90 Day Interest Rebate Promotion. Please note that finance charges accrue from the effective date of the contract and will be added to your account until paid in full. Any finance charges paid less a Rebate Processing Fee equal to the lesser of {$40.00} or the finance charges incurred as of the payoff date will be rebated to you unless the 90 Days Interest Rebate Promotion has been invalidated because 1 ) the total Amount Financed plus the applicable Rebate Processing Fee is not paid in full by the expiration date provided below, or 2 ) you fail to make a minimum payment on the account when due. 

It also states that the contract must be paid in full by XXXX/XXXX/2016. I paid in full on XXXX/XXXX/2016. 

The agreement further explains the promotion later on as follows : 90 DAY INTEREST REBATE PROMOTION ( Rebate Processing Fee required ) This Installment Contract offers an Interest Rebate Promotion. All interest paid less a Rebate Processing Fee equal to the lesser of {$40.00} or the finance charges incurred as of the payoff date will be rebated to Buyer if, during the promotional period, Buyer makes all monthly payments on a timely basis with no returned payments, and Buyer pays in full the Amount Financed plus the applicable Rebate Processing Fee. This Promotion begins on the Contract Date and ends XXXX. 
PLEASE NOTE : If Buyer makes any payment untimely or if Buyer 's payment is returned, this Promotion will terminate immediately. Upon the Promotion 's termination, Buyer shall be liable for all interest accruing from the Contract Date and the interest charges will not be rebated. 
Interest charges do not include delinquency, pre-paid finance charges and other charges. 
Except for necessary revisions to incorporate this payment plan, all terms and conditions set forth in this Installment Contract shall continue to apply to Buyer 's account, including Buyer 's obligations to make timely monthly payments. 
Interest charges begin accruing from the effective date of the Contract, and will be rebated to Buyer less the Rebate Processing Fee if all of the following are true during the promotional period : ( 1 ) The total Amount Financed plus processing fee is paid in full, ( 2 ) Buyer makes all timely payments, and ( 3 ) no payments made by Buyer are returned. 
IMPORTANT NOTICE Buyer acknowledges and verifies that the charges as shown on the Installment Contract are correct. Buyer further agrees that the effective date of the Contract is accepted as the date the interest charges in the Installment Contract begin accruing. 
Buyer understands that Buyer will be responsible for the principal plus any fees associated with this contract. The interest charges will only be rebated if paid according to this program. 
BY SIGNING BELOW BUYER IS IN ACCEPTANCE OF THIS PAYMENT PLAN AND ACKNOWLEDGEMENT THAT BUYER HAS RECEIVED A COPY OF THIS PAYMENT PLAN. 

Per the contract, I did not make any late payments or violate any terms. After paying off my loan I called to inquire as to how to receive my rebate. I was told that there was no rebate, but that my interest was waived. However, according to my statement I have paid {$35.00} in interest. The agent claims that those are the Processing Fees, yet it does not state that at all whatsoever on the statement, it clearly states interest charge. Wherever fees are listed, it states the amount of XXXX.

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