Consumer complaint received 2025-03-18 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: Shellpoint Partners, LLC
State: CA

Complaint narrative:
In XX/XX/XXXX I made a payment made via the online portal for {$1800.00}. {$890.00} for interest and {$900.00} towards principal. The principal payment was never applied to my balance. 
Web Ticket was opened for faulty online portal operations o XX/XX/XXXX Ticket # XXXX & # XXXX Research ticket opened for XXXX monthly payment ( {$900.00} ) being wrongfully applied # XXXX In XX/XX/XXXX I made a payment made over the phone with a representative for {$1800.00}. {$910.00} for interest and {$880.00} towards principal. The principal payment was never applied to my balance. 
Research ticket opened for XXXX monthly payment ( {$900.00} ) being wrongfully applied o Ticket # XXXX XX/XX/XXXX Spoke to XXXX XXXX about tickets and resolution. No update from her. 
XXXX XXXX opened # XXXX Supervisor was supposed to call back XXXX XXXX. 
XXXX Called again and no update. New escalation ticket # XXXX XX/XX/XXXX Spoke with XXXX XXXX who did not provide any update nor a reference ticket for escalation. 


The dollar amount of error and incorrect calculation of interest charges. 
a. XX/XX/XXXX XXXX made via online portal i. {$1800.00} total XXXX. {$890.00} interest XXXX. {$900.00} principal APPLIED INCORRECTLY b. XX/XX/XXXX Payment- made via phone call i. {$1800.00} total XXXX. {$910.00} interest XXXX. {$880.00} principal APPLIED XXXX XXXX The interest and total principal balance is incorrect. The interest % should be calculating at around XXXX %. I was being charged XXXX % for XXXX  months, which is incorrect. Moreover, the additional principal payment made were never applied to my total principal balance which in turn affected my total interest payment owed each month. 
Breakdown of how the payment and total principal balance should look like : Total Principal Balance as of XX/XX/XXXX {$100000.00} - {$900.00} ( XXXX Principal pmt ) Total Principal Balance as of XX/XX/XXXX {$100000.00} - {$880.00} ( XXXX principal pmt ) Total Principal Balance as of XX/XX/XXXX {$100000.00} Multiple research tickets were opened and I made numerous phone calls ( Over XXXX outbound calls ) to support to get these resolved and no one reached out with a resolution. My total principal balance has never been updated so I didnt feel comfortable making another payment given the transaction history on my online account and statements over the past XXXX  months. I was also advised by multiple representatives to hold on making a payment until this has been resolved. It is unfathomable and extremely disturbing that you have employees working in this manner. Not to mention the poor communication and operations that your company is following. 

I am disputing the credit reporting and the errors that Shellpoint negligently reported, and actions taken to resolve this egregious injustice in a timely manner. Its been over XXXX months and no one been able to resolve a simple payment posting error. Meanwhile, your flawed system has been sending me unlawful Notices of default, delinquency, late payments and reporting late payments to the credit bureaus. 

I demand an immediate resolution to my account for the payments made, correction submitted to the credit bureaus for the unlawful reporting of late payments and additional compensation for the inconvenience endured over this past XXXX months. I am prepared to bring my account current only when you have applied the payments correctly and have fixed my credit immediately. All I want is for Shellpoint to apply my XXXX payments correctly for XXXX and XXXX, fix my credit for the months they inadvertently reported me late ( explain to them it was an error ), and I have no problem bringing my account current, immediately. The above XXXX items must be satisfied in order to resolve this matter. 

Per the correspondence that I received XXXX XXXX, XXXX, Shellpoint admitted fault for not applying my payments correctly which in turn affects my monthly statement totals. Shellpoint negligently applied the following per their letter to me : Regular payment of the XX/XX/XXXX installment in the amount of {$890.00}, satisfied effective XX/XX/XXXX. CORRECT FOR INTEREST Regular payment of the XX/XX/XXXX installment in the amount of {$910.00}, satisfied effective XX/XX/XXXX. CORRECT FOR INTEREST Regular payment of the XX/XX/XXXX installment in the amount of {$890.00}, also satisfied effective XX/XX/XXXX. Incorrect as I did not make a payment for XXXX yet because XXXX principal payments were not applied correctly. 
Principal only payment of {$890.00}, effective XX/XX/XXXX. Incorrect as I did not make a payment for XXXX yet because XXXX principal payments were not applied correctly. 

In XX/XX/XXXX I made a payment made via the online portal for {$1800.00}. {$890.00} for interest and {$900.00} towards principal. The principal payment was never applied to my balance. 
In XX/XX/XXXX I made a payment made over the phone with a representative for {$1800.00}. {$910.00} for interest and {$880.00} towards principal. The principal payment was never applied to my balance. 

If XXXX loans accrue interest daily on the unpaid principal balance. When you make a payment on time, you pay XXXX the interest accrued in the previous month with the remaining payment amount going toward the principal. If I pay made additional principal payments to reduce my total balance and interest in accrued on unpaid principal balance that means the statement I received, the amounts on my online account are incorrect because the interest was accrued on a total principal balance that was not reduced by my additional principal balance payments, which means I was being charged a higher interest only payment for every month after XXXX and my total principal balance was wrong. All of my statements were calculated wrong and not reflective of what I actually owed. 

Clearly no XXXX from Shellpoint read my multiple letters which I, the customer, clearly stated HOW I WANT MY PAYMENTS ALLOCATED. Not Shellpoint, and whatever they feel is necessary to reconcile the account. Furthermore, Shellpoint, still neglected to provide any remorse, resolution, explanation and compensation for the mistake made on their part, not to mention they provided NO explanation for the extremely long delay ( XXXX ) in response to my billing inquiries/errors. Every XXXX of my statements from XXXX  XXXX XXXX reflected the wrong total principal balance and the interest calculating each month was calculating on the wrong total principle balance.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation