Consumer complaint received 2024-09-19
Product: Vehicle loan or lease — Loan
Issue: Repossession — Deficiency balance after repossession
Company: Exeter Finance, LLC. (NC)

In XXXX of XXXX I contacted Exeter Finance and let them know I would be XXXX in XX/XX/XXXX to request XXXX XXXX XXXX. The representative let me know to send in my XXXX active XXXX paperwork and the request would be processed. She told me to reach back out in 10 days to ensure the request was processed. I asked her to explain the benefits and she let me know the following : 1. Late payments would be reported to the credit bureau if I become late 2. Even if I become more than 90 days late, my vehicle would not be repossessed as part of the SCRA benefit. 3. I was eligible for four deferements as a result of the SCRA benefit. 4. My interest rate would be updated to 6 % and any future payment made would be applied based on the updated interest rate. 5. I would be eligible for the SCRA benefit for 24 months from the application of the benefit to my account. That would be XXXX XXXX to XXXX XXXX. I reached back out to Exeter finance on XX/XX/XXXX and spoke with a representative. She stated that my orders had been received and my request would be processed and I would receive a written notice as well as an email from the SCRA team when the request was completed. The email would be sent to the email address on my account and I confirmed the address. On XX/XX/XXXX, I would injured in duty and was put in a military treatment facility. I was initially released on XX/XX/XXXX. I contacted Exeter XXXX on XX/XX/XXXX to inquire because my credit report was saying that I was not 60 days behind on my payment. The representative I spoke with states she did not see any notation that I let anyone know I was XXXX and/or requested SCRA coverages XXXX She also let me know that my vehicle had been picked up and towed and was ready to be auctioned. She stated unless I paid the full remaining balance, there was nothing I could do at that point to stop the sale of the vehicle and that I would be responsible for the remaining balance. I called and spoke with several supervisors at Exeter finance from XX/XX/XXXX to XX/XX/XXXX to plead my case for SCRA benefits, but was denied because my vehicle had already been repossessed. On XX/XX/XXXX, I was reinjured and in a military treatment center until XX/XX/XXXX when I was released from active XXXX duty. I have since contacted Exeter to resolve this matter by phone with no resolution as well as disputing this account my credit report. All of these actions are in direct violation of the XXXX benefits available to me. There was no court order that allowed Exeter to repossess and sell my vehicle. I have sent several messages. XX/XX/XXXX XX/XX/XXXX and XX/XX/XXXX with no response. I have called in XXXX, and XX/XX/XXXX and have been unable to receive a response. 
I received the below response as a resolution. 

XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, NC XXXX Dear XXXX XXXX, On XX/XX/XXXX, Exeter Finance LLC ( Exeter ) received notice regarding your complaint filed through the Consumer Financial Protection Bureau ( CFPB ). Exeter would like to thank you for the opportunity to address your concerns outlined in the complaint. XXXX success is based on customer satisfaction with our products and services, so the issues presented in this complaint are taken seriously and every effort is made to provide a prompt and equitable response. Exeter has thoroughly investigated your complaint, responded to the CFPB, and made the following determination. On XX/XX/XXXX, you signed a Retail Installment Contract ( " Contract '' ) for the purchase of the XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX ) ( " Vehicle '' ) with XXXX XXXX XXXXXXXX , Inc. ( `` Dealer '' ), which was later assigned to Exeter where it was ascribed an account number of XXXX ( " Account '' ). The Contract payment schedule provided for 72 monthly payments of {$610.00} beginning XX/XX/XXXX. Exeter records were reviewed, and we are unable to substantiate any prior notice from you that you were in an active-duty status. Upon receipt of the orders submitted with your complaint for the first time, Exeter submitted a follow-up request for additional information. While no additional documentation has been received, Exeter has, however, determined that it will delete your tradeline and waive the deficiency balance as of XX/XX/XXXX, to amicably resolve your complaint. We trust this response answers any questions associated with the complaint. For any questions about these or any other concerns, we encourage you to contact the Office of the President at XXXX. Sincerely, Office of the President Exeter Finance LLC