Consumer complaint received 2019-08-13 00:00:00
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Incorrect information on your report — Account status incorrect
Company: SECURITY FINANCE CORP
State: TX

Complaint narrative:
In XX/XX/XXXX, I secured an installment loan with Security Finance Corporation. I have since paid the loan off, in full. However, I have spent the last 2 months working with their agents on a reasonable resolution regarding an egregious error made and reported to the credit reporting agencies by Security Finances own agents. But I can not seem to get through the red tape. No real help has been offered nor has my loan been accurately reviewed for any and all reported errors. I have done everything I can think of to resolve matters with SFCs agents but my pleas for assistance have been ignored. I have not been designated a single point of contact. Why cant anyone actually look at my information and take ownership of the erroneous information that was provided, reported and the violations made? I am now faced with a derogatory on my credit report that is injurious to my ability to progress financially in business and personally. I need your help to resolve my current crisis.

In XX/XX/XXXX, I secured a n installment loan with SFCs firm. I tendered payments on time as agreed for over 6 months. However, in XX/XX/XXXX, I walked into the Security Finance Corporation in the city of XXXX to tender my payment for that month. The agent advised me that the computer system was down, but that they could take receipt of my payment and enter it into the system as soon as the system was back up and running. I was advised that my payment would NOT be considered late in lieu of the current computer circumstances that day. Once I was offered adequate assurance that my payment would be accepted and accurately accounted for I tendered the amount the agent advised was due.

In XX/XX/XXXX, I was alerted to the fact that my XX/XX/XXXX payment history was furnished inaccurately by SFC to the credit reporting agencies. Apparently, the amount I was advised to tender, by SFCs agent, was {$3.00} short of the actual amount due. This egregious error by SFC and its agents lowered my credit score and my ability to obtain credit and make purchases.

Next, my supervisor advised me that he received a call from SFCs agents regarding my unpaid delinquent balance of {$3.00}. This is a clear violation of the Credit Privacy Act. And SFCs agents have recently been ordered by the CFPB Consumer Financial Protection Bureau to cease and desist from said shady and unethical business practices.

How is it possible that after numerous calls and correspondences Security Finances agents have not afforded me the opportunity to have my situation reviewed for a reasonable and fair resolution? My hope was that SFCs agents would take the situation caused by one of their own agents seriously enough to afford me a reasonable resolution to correct their mistake. Security Finance and its agents have not truly worked with me nor offered any relief. I need your offices help.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation