Consumer complaint received 2022-11-26
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Time Investment Company, Inc. (OH)

My husband and I worked with our credit union to consolidate and payoff all debts. Time Investment Company , Inc was one of those we were paying off. The interest rate alone was horrid and for 2 years the balance never went down after making nearly $ XXXX in payments. I wanted this loan gone as soon as possible and took action as soon as we qualified with our credit union for a loan. 
The first dispute I want to report about Time Investment starts XX/XX/XXXX when I received a letter in the mail from Time Investment stating our payments would now be made through a new servicer called XXXX and I should set up an online username and password with the new 9-digit account to may payments. I tried to do so, but it did not work because XXXX was not equipped with all of the new loan numbers yet. I called to try and make a payment, but there was no one who could help me when I called XXXX. They said I'd have to wait a few days to create an account with them. 
I had to wait until the following business day to call Time Investment. This made my payment possibly late due to their negligence since there was confusion about who would take the payment. When I did call the following weekday XX/XX/XXXX, Time Investment advised I'd have a grace period and they were sorry for the inconvenience due the online issue with XXXX. 
Since I called to request a payoff letter and was paying off the loan anyway, I had them order me the payoff letter so I could send it to the credit union since they were sending all the payoff checks out to pay off our various debts. I received the payoff letter from Time Investment which showed {$10000.00} was good through date of XX/XX/XXXX. My credit union sent out ALL checks on XX/XX/XXXX. The XXXX other creditors received those via USPS no later than XX/XX/XXXX. 
When I called Time Investment to verify on XX/XX/XXXX that they received the check to pay off the loan in full, they said the check was for the amount of {$10000.00}, and they claimed that they did not get the check until XX/XX/XXXX and I owed a balance due to per diem of {$42.00} ( which included a late fee of {$10.00} ). I told them the late fee should be waived because of their negligence not informing me in a timely manner of the service change and also for their not opening their mail on time. I kept asking them questions about why they received their check so late when my other debts had been received and cashed the checks no later than XX/XX/XXXX. I have all of the USPS tracking information on all of the lenders. Time Investment claimed XX/XX/XXXX was the date received and I owed {$32.00} but they would waive the {$10.00} late fee. I paid over the phone just to get them to close the account and get a release going to get this debt off of my house title. I still did not trust that they were telling me accurate info on when they received the very large check from my credit union. 

However ... ... .After further research, I retrieved the USPS tracking number from my credit union ( XXXX ) showing they mailed the payoff check on XXXX to the proper address on the payoff letter from Time Investment and it was RECEIVED and DELIVERED on XX/XX/XXXX at XXXX. The check was in the amount of {$10000.00} which was 3 days of per diem added ( thru XX/XX/XXXX ). I believe this company has caused borrower harm and I am owed a refund of 11 days per diem since they received OVER THE AMOUNT OWED when they received the check on XX/XX/XXXX, then ended up making me pay even more per diem just to close the loan. Time Investment advised me I would be receiving a letter advising me the loan is paid in full and they would be releasing the lien from my house title. I am waiting on that currently.