Consumer complaint received 2024-02-28
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: Solar Mosaic LLC (FL)

I applied for a home improvement loan through MOSAIC ( aka XXXXsolar mosaic ) that was approved on XX/XX/XXXX for {$11000.00}. There was a 12 month interest free promotion, which ended on XX/XX/XXXX, at which point 8.24 % interest would be charged for the 12 month period if the principal was not paid in full. I paid the full balance owed using an online web portal on XX/XX/XXXX and received an email from Mosaic on XX/XX/XXXX saying the payment had been received. On XX/XX/XXXX I received an email from Mosaic that my payment had failed due to " insufficient funds ''. 

I saw the email on XX/XX/XXXX and called Mosaic to see why it had failed, since I still had sufficient funds in the account. I initially spoke to a supervisor who was extremely rude, but then asked to speak to an escalation manage and spoke with XXXX XXXX about the situation. As he looked through the payment details, we realized that Mosaic had attempted to pull the funds from my checking account, when I had indicated in the web form via a radial button that the target account was a savings account. I use a credit union where both my checking accounts and saving accounts have the same account number. Because they attempted to pull the funds from my checking account instead of my savings account, that's why the payment failed. I offered to pay the principal balance if Mosaic would waive the accrued interest fees and he said he could not do that. XXXX said he would esclate the issue to his executive in charge of disputes and call me back later that day or the following monday. I offered to pay the principal balance that day, but he said it would be better to wait until we received a resopnse on the dispute. I never received a call back, email, or letter in response. 

On XX/XX/XXXX I called in again and spoke to XXXX. He said XXXX had left the company and he could not see record in my file of a formal dispute escalation request. He said he would submit the formal request and I would receive a response back. 
I paid the principal due at that time and have that confirmation number. I never received a call, email, or letter back.

I believe I called on additional time 1 to 2 months later to check on status, but don't have record of that call. A few months later I stopped receiving emails from Mosaic saying that a monthly payment was due. When I tried to login to Mosaic 's online portal I received a message that I could no longer log in to that account. I assumed the dispute had been resolved and the account had been closed. 

I applied for a mortgage in XXXX of XXXX and was told the amount due was still outstanding and affecting my credit. I couldn't get any loan product to pass underwriting becauase of this one reported debt ... the loan officer was surprised given how strong all of my other credit factors were. 

I called Mosaic on XX/XX/XXXX to check on the status of my account and was told they could no longer access my file and that the debt had been transferred to XXXX XXXX XXXX. I called XXXXXXXX XXXX XXXX same day and was told they could not see any of the details of my account but that the debt had been transferred to XXXX XXXX XXXX. I called XXXX XXXX XXXX on XX/XX/XXXX and spoke to XXXX XXXX and he said he could not see any of the details of my file or account. I explained the situation and he said the only option I had was to settle the debt. I indicated I would be willing to pay the original interest due from XX/XX/XXXX, but he was unable to see that amount ( it would have been approximately {$920.00} ). He said the debt came over to them for {$1000.00} in XX/XX/XXXX. I offered to settle at that amount. He had his manager request approval for that settlement, and they said that if I could afford to pay {$1000.00}, then I should be able to afford to pay the full requested settlement amount of {$1100.00}. 

I asked to speak to an escalation manager, but XXXX said nothing else could be done. I could either pay the full amount or hang up. I continued to request some other alternative and he said he would need to end the call if I didn't make the payment. I paid the full additional interest and fees requested to XXXX XXXX XXXX in order to settle the account because I can't get a mortgage without settling this debt.