Consumer complaint received 2023-10-11
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Universal Account Servicing, LLC (CA)

I applied for a line of credit through Universal Account Servicing , LLC from an initial purchase through XXXX. All of my purchases have had special promotional finance periods to which no interest shall be charged as long as I pay the balance in full before the promo period ends. Which Ive complied with. My due date is the XXXX of the month. I've made payments in the past on the XXXX of the month within my 10 day grace period. Nowhere in the contract does it state if my payment isn't paid by the end of the grace period, that I'd lose my promo period and charged interest. The payment for XXXX was submitted before the XXXX in advance to be paid on the XXXX and I chose that date due to being within the grace period. I wasn't charged a late fee therefore I wasn't late. I have an email that shows the payment was there and pending/processing on XX/XX/XXXX. On the transactions it shows it was submitted/received on the XXXX, but not processed until the XXXX. That was not due to any issue on my end as I had submitted the payment in advance to be paid on the XXXX, as well as my bank processed it at at XXXXXXXX XXXX on XX/XX/XXXX well before the XXXX XXXX cut off. My payment on XX/XX/XXXX was received on the XXXX and processed on the XXXX. It doesn't take " 24 hours '' to be posted. The payment has to be made before XXXX XXXX which it was as it was setup in advance and confirmed to be pending/processing on XX/XX/XXXX. 

My charge slip for my purchases which all have special promotional financing state, " No interest will be charged on this promotional purchase if you pay the amount financed in full for this purchase within the applicable promotional period. If you do not pay the full balance of the amount financed for this purchase, interest will be charged from the date of delivery. Regular account terms apply to non-promotional purchases and, after promotion ends, to promotional purchases. '' In my retail installment agreement ( contract ), it states, " Your due date is at least 23 days after the close of each billing cycle. Interest will begin accruing on purchase ( s ) from the purchase date OR as specified on your charge slip. We will charge you interest on your purchase ( s ) so long as you have a balance OR according to the terms of any special promotional financing offers that may be applicable to your purchase ( s ). '' All of these purchases have special promotional financing. Therefore, no interest is to be charged as this is against the contract from the charge slips. Therefore regular account terms DO NOT APPLY since the promo periods haven't expired.

Finally, I contacted the manager at XXXX XXXX who contacted her UGA finance team and they left a comment on my original case that was opened on XXXX and closed the next day. She confirmed this is against my contract on the charge slipsXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX - Consumer has attached his statement. His promotional dates are showing an end date of XX/XX/XXXX on all packages in UAS system which is different than what's on his contract please see the attached statement provided by the consumer, and adjust accordingly. '' Case number - XXXX On XX/XX/XXXX IT left a comment stating please reinstate promotional financing on charge slips 2,3,4,5,6. On XXXX the case was closed, stating it was denied because I didn't pay on the XXXX. I've paid after the XXXX throughout the year, utilizing the grace period and this hasn't happened. The goal posts keep moving stating I made the payment outside of the grace period because it was received on XXXX  but not processed until XXXX  and that I didn't pay it by XXXX XXXX. The payment was setup in advance, was confirmed by email from them on XX/XX/XXXX that the payment was pending/processing, and my bank processed the payment on XXXX XXXX XXXX XXXX which I have proof of. The definition of a grace period isn't to just avoid a late fee, it's a period to resolve and avoid action as long as the obligation is satisfied during the grace period, which it was. 

It was forwarded to their internal department for review, for them to agree and state to reinstate my promotional financing, for then it to be denied. If this isn't resolved I'll be seeking legal action as I've submitted all proof necessary that demonstrates this is breaching my contract. The charge slips override the installment agreement in that interest shall not be charged as long as the full balance is paid BEFORE the promotional financing period ends. The goal posts keep getting moved stating, it's because it was processed on the XXXX and that's outside the grace period, to then it's because I didn't pay by the XXXX, to which apparently, a grace period means nothing, other than a late fee not being charged. I've attached all proof necessary per the stipulations of my installment agreement/charge slips. The charge slips supersede the installment agreement when it comes to interest per the installment agreement! You Can't Charge Me Interest BEFORE the promo period ends if I've not paid the balance in full.