Consumer complaint received 2021-12-11
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem when making payments — 
Company: Solar Mosaic LLC (CA)

On XX/XX/XXXX I signed a Home Improvement Loan Agreement/Promissory Note with Mosaic. The loan was approved on XX/XX/XXXX. I was advised by the Contractor who secured the loan, because homeowners are not allowed to deal directly with Mosaic, that the first payment would not be due for 3 months/90 days after the project was complete, which is the reason I went with Mosaic This was agreed upon prior to me signing the loan agreement. I signed the loan agreement on XX/XX/XXXX, which happened to be the same day the project was completed. I signed off on the project on XX/XX/XXXX. The Promissory Note states that my first payment would be due on XX/XX/XXXX. I received an email from Mosaic on XX/XX/XXXX, in which I was to confirm that the project was complete. I received a loan closing certificate and notice on XX/XX/XXXX that my first payment would be due on XX/XX/XXXX. All of the notifications from Mosaic up till this point were via email. I waited to see if another email correcting the due would arrive. It didn't. I called Mosaics loan servicer, XXXX XXXX XXXX, on XX/XX/XXXX to find out about the change in due dates and was given a case number and advised that someone would follow-up with me. I spoke to several people and sent in a copy of the promissory note. All of XXXX reps told me that my payment was due on XX/XX/XXXX because of additional terms and conditions which state " Estimated monthly payment amounts and payment due dates are shown on the payment schedule included in the TILA Disclosure. We will disclose the exact payment amounts and due dates in monthly statements we send you. The first payment on the Loan is due on the earlier of ( i ) 90 days after we first disburse Loan proceeds to the Merchant; or ( ii ) 15 days after we receive confirmation that your Installation is completed, if applicable ''. I believed that since the payment due date and amount ( {$440.00} ) were on the promissory note that the statement was not applicable to my loan and the XXXX had assured me of the 90 day due date for payment. I called and/or emailed XXXX on XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. I sent a payment of {$560.00} on XX/XX/XXXX ( the contractor gave a small discount after I called them and told them about the payment due date issue ). I made my first payment on XX/XX/XXXX based on the XXXX of the month statement they sent and the 15 day grace period for payment. My credit rating has gone from a XXXX range to a XXXX range. XXXXMosaic has charged me {$70.00} in late fees and their payment system has attempted to collect what they call the past due balance on two occasions ( XX/XX/XXXX in the amount of {$1400.00} and XX/XX/XXXX in the amount of {$1100.00} ). I had to submit a stop-payment with my financial institution on both payments and was charged a fee. I also was charged a check returned ( payment stopped ) fee by Mosaic for each in the amount of {$10.00} each. I get calls from XXXX weekly and have spoken to their representative on two of the occasions ( the last call XX/XX/XXXX ). I tell them to look at the file and why my loan is not delinquent. I have asked XXXX to allow me to speak with a Mosaic representative directly and their attorneys with no success. Everyone phone number to Mosaic goes to XXXX. I have a Solar Loan ( XXXX ) with Mosaic that I have never had an issue with. The contractor was up front and the loan process went smoothly. XXXX sent a letter dated XX/XX/XXXX, advising that " I am delinquent under the Home Improvement Loan Agreement having the Effective Date of XX/XX/XXXX because I have failed to make payments under the Agreement. Please note that XXXX XXXX XXXX is acting as the loan servicer and debt collector for Mosaic concerning the above reference Home Improvement Loan. As set forth in the Agreement, Mosaic may declare me in default due to the delinquency. At that point, as stated in the Agreement, the Total Payoff Balance as of the date of default my be immediately due and payable ''. They ask me to call to discuss how to resolve my account. The rep just repeats what each rep I have spoken to says. They don't want to resolve, they want me to agree with them. They committed a " bait and switch ''.