Consumer complaint received 2023-01-20
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Solar Mosaic LLC (CA)

Last year I got a solar system for my house through a large company called Semper Solaris. They set up financing for me with XXXX loans from XXXX separate lenders covering different aspects of the solar project ( XXXX loan for the solar panels, XXXX loan for the XXXX batteries, and XXXX " XXXX same as cash '' loan to front usthe money that gets paid off with the rebates and tax credits we were due to receive back ). XXXX of the loans ( the XXXX same as cash '' was made with Mosaic. 

Because we receive so much SPAM, most of which ends up in the SPAM folder which my wife and I never see, we make sure to NEVER receive paperless statements on any loan we take out. When completing the loan documents for this loan, I did read ( and agreed by signing ) that I was agreeing to e-sign the loan documents electronically, and I also knew that I was agreeing to receive the " Loan Disclosures '' electronically, however I carefully checked to make sure I was not agreeing to receive paperless STATEMENTS since I wanted all statements mailed to my house so it will be received by my wife who promptly pays all of our bills. 

Getting solar was my project which my wife was not involved in, however as I said, she is the one who pays all of our bills as soon as we receive the statement. With Mosaic, they never mailed us a single statement telling us where to send payments, nor did they ever mail us anything that stated when the XXXX no payment period was ending, which we were told would be 12 months from the date our solar project was completed. 

As I knew the end of the XXXX period was getting close to ending ( at least so I thought anyway because I was basing it on the date my solar installation was completed ), I asked my wife if she ever received anything telling us how and where to send our payment to pay off the Mosaic loan. She said no, so I called Mosaic. They said the XXXX period just ended, and we now not only owe the balance of {$52000.00}, we also now owe {$6800.00} in interest for the XXXX period because we did not pay it before the end of the XXXX period which they said was XXXX. 

As you will see on the loan document that I am uploading, it says the first payment, which is supposed to be due at the end of the XXXX no-payment period, is " estimated '' to be XXXX. When I was signing the document and dealing with the Mosaic agent handling my loan, she told me to ignore that date because it will change after they have a better idea of when my project will be completed. And clearly she was right, since we have now learned that the date got changed just as she told me it would, however we were never told what the new date was until AFTER that massive {$6800.00} interest charge kicked in. This is dishonest, unethical, and illegal ( per Truth in Lending Rule 226.7 which states that the lender must send periodic statements of amounts due, where to send the payments, the due dates, etc., all of which Mosaic never sent me. 

My wife and I set the money aside to pay off the Mosaic loan before it was due, and I have spoken with several people at Mosaic including people in their dispute department telling them that I want to pay this loan off, but they insist that I must pay it off by adding the additional {$6800.00} which we just don't have and did not budget for, and do not feel we owe since as I previously stated, they did not follow the required rules stated in the Truth in Lending Rule 226.7.