Consumer complaint received 2022-06-07
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: Above Lending, Inc. (AZ)

I recently refinanced my house and, as part of the closing process, was issued a check to send to this creditor. Basically, I pulled equity from my home to pay off this loan. The title agency issued the check as of XX/XX/2022. I overnighted it, along with a personal check for the accrued interest via USPS ( XXXX ) on XX/XX/2022 and it was received by Above Lending on XX/XX/2022. 

I received a phone call from Above Lending on XX/XX/2022. I was told that I was on a recorded line. The representative wanted to let me know that my loan was behind. I notified him that I sent in the full payoff and provided him with the tracking details. I spent a lot of time on hold and continued to work with the representative over the course of the next few days ( XX/XX/2022 and XX/XX/2022 ). I was finally told that they did not seem to have the check, but would continue to look for it. I was told that if the check was not processed by XX/XX/2022, I should contact the issuer for a stop and reissue. The representative assured me that interest ( about $ XXXX ) would NOT continue to accrue and that they would make sure my credit was not negatively impacted. 

I called the title agency and had the check stopped and reissued on XX/XX/2022. I then reached out to Above Lending to make sure that what I was told was true ; that I wouldn't be held liable for their mail issues, just as the prior representative assured me. I wanted to confirm mailing address and make them aware that I was sending the payoff again. I called multiple times and was told that Above Lending would look into the issue and call me back. I had been told, on a record line, that there was a known issue with their mail and that this had been happening lately. After the second call, I demanded to speak with a manager who told me that the original representative was incorrect and I would be liable for all the accrued interest. They confirmed the address was correct, but since the check wasn't " in their hands, '' there was nothing they could do. He advised that after I send the second check, I call in once I receive the delivery confirmation from the carrier ( USPS ) and they would check their mail. 

Without options, I sent the second check, expedited again ( XXXX ). It was received yesterday at XXXX. I called today and was placed on hold. My call dropped, so I called again and was placed on another long hold. I was told that the proper department was in a meeting and that they would call me back. After two hours without a callback, I called again and was placed on hold again. The representative told me that the managers were in a meeting, but had sent her a written response. They stated that they, again, did not receive the check and that I need to reach out to my carrier and perhaps the check issuer for another stop and reissue.

This is unacceptable service. The address I have sent the checks to is the one they provided. USPS is a government agency that is reliable. The issue is with Above Lending and their mail process. They should take ownership of the issue, work to correct it, and hold the victims harmless.