Consumer complaint received 2020-12-03
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Charged fees or interest you didn't expect — 
Company: Service Finance Holdings, LLC (TN)

In the latter part of XX/XX/2020, I received a call from a woman who identified herself as being affiliated with XXXX XXXX XXXX. The purpose of this call was to inform me of the availability of financing for my solar project for a period of 15 years with an interest rate of XXXX %. Further, I was to be afforded the option of re-amortizing the loan with the stipulation the amortization must be completed within 18 months of the date of purchase. The proposed arrangement would allow me sufficient time to receive and apply my tax credit with or without additional money being paid towards the existing loan within the specified time frame. I agreed to the terms of financing presented to me. Mr. XXXX salesman for XXXX XXXX XXXX returned to my home a couple of days after the above conversation for the purposes of closing the sale in addition to applying for financing with Service Finance Company , LLC on line. 
While XXXX XXXX does not finance solar projects directly, they are affiliated with finance organizations that provide long term financing for solar project ( s ). Application for financing is normally completed at the time of sale with the salesman by accessing a finance portal via use of a company laptop. My financing with XXXX XXXX XXXX was predetermined by a representative of XXXX XXXX XXXX. I suspect the online application in my particular case to be a matter of business formality. 
As the result of XXXX XXXX not providing with documentation for the tax credit, I contacted Service Finance o/a XXXX XX/XX/2020 ( XXXX ) XXXX ) for assistance. As the result of my inquiry I was informed prerequisites to qualify for the loan re-amortization required I make 18 monthly interest payments. Once the interest payments had been made, I was to contact servicing@svcfin.com for further instructions in the processing of additional payment XXXX s ) and re-amortization. These instructions are in conflict with information previously provided by XXXX XXXX. This particular requirement results in interest being paid in the amount of approximately {$3200.00} with nothing being applied towards the outstanding principal. I was not aware of these terms, nor to my knowledge did I agree to these terms and conditions. I informed Service Finance none of information provided was found in my written agreement with Service Finance. Upon requesting Service Finance provide me with a copy of these instructions, I was informed the information was NOT in writing. Consequently, Service Finance is unable to provide me with written instructions. 
Please Note, Service Finance provides a billing address of XXXX XXXX XXXX, XXXX OH, XXXX. Billing statements originate for the most part on the XXXX of each month and are received on the XXXX or XXXX of the month, with a due date of the XXXX. The statement identifies XXXX XXXX  XXXX XXXX as being the Dealer with a product type being Solar Equipment. Interest is XXXX %, Current Principal is {$44000.00}, with a maturity date of XXXX/XXXXXXXX Billing statement clearly states Balances Listed on this Statement DO NOT REFLECT PAYOFFS. Call ( XXXX ) XXXX XXXX.