Consumer complaint received 2026-05-14 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Trouble during payment process — Lien release
Company: TRUIST FINANCIAL CORPORATION
State: VA

Complaint narrative:
I invoked 16 CFR Part 433 ( FTC Holder Rule ) with Service Finance Company after the solar Panels installed by the now bankrupt XXXX XXXX, XXXX stopped functioning at XXXX % and I have been left without a warranty provider. I sent a certified letter to Service Finance Company informing them of the FTC Holder Rule, and they rejected my claim. This was the email sent by XXXX XXXX ; Good Morning XXXX XXXX XXXX XXXX XXXX is XXXX sales finance company, licensed to purchase retail installment contracts ( RICs ). XXXX purchases RICs that are entered into between a customer and a dealer, after the goods are purchased, delivered, and installed. As such, XXXX purchased the XXXX on XX/XX/XXXX, after confirming with you on XX/XX/XXXX, that the work was completed to your satisfaction by the XXXX, XXXX XXXX XXXX. XXXX was not a party to the contract between you and XXXX XXXX XXXX. XXXX solely purchases XXXX from XXXX XXXX XXXX and was not involved in the sale and installation of the solar panels. Enclosed is a copy of the engineering plans for your records. Since XXXX XXXX XXXX is out of business, your best option is to contact the manufacturer of the solar equipment to see if there is a warranty for service and/or the equipment. The manufacturer may be able to assist you with recommending another solar company to provide service at your property. At this time, the complaint will be closed as an unresolved matter, and I am unable to remove the obligation to the payments. Thank you, XXXX XXXX XXXX XXXX XXXX I sent a follow up certified letter ( inserted below ) and this is where we are today. Service Finance Company have stopped communicating with me and refuse to acknowledge my correspondences. My rebuttal letter is below : XXXX XXXX XXXX XXXX XXXX XXXX, VA XXXX ( XXXX ) XXXX XXXX Date : XX/XX/XXXX VIA CERTIFIED MAIL Attn : XXXX XXXX Department Service Finance Company , LLC XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Florida XXXX Ph : XXXX Direct : XXXX Fax : XXXX RE : Account Number : XXXX Formal Rebuttal to Rejection of Claim under 16 CFR Part 433 ( FTC Holder Rule ) Dear Service Finance Company, LLCXXXX. XXXX XXXX, I am in receipt of your email dated XXXX XXXX, XXXX, XXXX XXXX, regarding my dispute of the above-referenced Retail Installment Contract ( XXXX ) originally entered into with XXXX XXXX XXXX XXXX I am formally rejecting your determination to close this matter as " unresolved. '' Your letter claims that XXXX is not a party to the contract and was not involved in the sale or installation. However, under the Federal Trade Commissions Preservation of Consumers ' Claims and Defenses Rule ( 16 CFR Part 433 ), commonly known as the Holder Rule, these facts do not exempt you from liability. The Holder Rule states : " Any holder of this consumer credit contract is subject to all claims and defenses which the debtor could assert against the seller of goods or services obtained pursuant hereto ... '' By purchasing the XXXX from XXXX XXXX XXXX, XXXX legally stepped into the shoes of the seller. My claims against XXXX XXXXspecifically breach of contract due to partial system failure and loss of promised XXXX-year warranty/service, are legally asserted against Service Finance Company , LLC as the current holder of the debt. Response to your specific points : XXXX. " XXXX or Service Finance Company , LLC was not a party to the contract '' : This is irrelevant under federal law. The Holder Rule specifically removes the " holder-in-due-course '' protection for finance companies in consumer credit contracts. XXXX. " XXXX XXXX XXXX is out of business '' : The fact that the seller is defunct is precisely why the Holder Rule exists, to ensure the risk of a seller 's failure or fraud falls on the creditor, Service Finance Company LLC, who chose to do business with that seller, rather than the consumer. XXXX. " Contact the manufacturer '' : My contract for a functional, warrantied solar system was with XXXX XXXX, not just an equipment manufacturer. XXXX inability to fulfill the service and performance obligations of the contract constitutes a total breach of the agreement. Proposed Resolution : I am requesting that Service Finance Company , LLC fulfill its obligations under the Holder Rule by ( XXXX ) Cancelling the remaining balance and ( XXXX ) Provide a credit toward my loan balance in the amount of {$3900.00} ( or the current market rate ) to cover the cost of a new service plan or re-commissioning of my system by a certified third party. Please be advised that the FTCs 2022 Advisory Opinion clarified that a holders liability under this rule may also include attorneys ' fees and court costs where allowed by state law. If this matter is not resolved within XXXX days, I will escalate this complaint to the Consumer Financial Protection Bureau ( CFPB ) and my State Attorney Generals Office. I look forward to your prompt response. Sincerely, XXXX XXXX XXXX RE : Notice of Dispute and Invocation of FTC Holder Rule Account Number : XXXX Installer Name : XXXX XXXX XXXX.

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