Consumer complaint received 2026-07-15 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with fees charged
Company: FLAGSHIP FINANCIAL GROUP LLC
State: LA

Complaint narrative:
I appreciate Flagship Credit Acceptance XXXX response to my previous CFPB complaint. However, after reviewing both the response and the payment history provided, I am still unable to independently verify that my account was properly adjusted in accordance with the Servicemembers Civil Relief Act ( XXXX ). While Flagship states that my contract interest rate was reduced from 15.16 % to 6 % effective XX/XX/year>, their response does not provide the complete accounting I requested. Instead, it provides a general explanation of how simple interest loans function and illustrates the calculation for a single payment period. This does not allow me to verify the accuracy of the account balance or the final amount charged off. The payment history reflects a significant balance adjustment effective XX/XX/year>. Based on the ledger provided, the principal balance appears to have been reduced by approximately {$2100.00}. However, Flagship never identifies what this adjustment represents or how it was calculated. It is unclear whether this amount represents forgiven interest, waived late fees, principal credits, a combination of adjustments, or something else entirely. Because of this lack of transparency, I respectfully request that Flagship provide a complete accounting of the XXXX adjustment applied to my account, including : The principal balance immediately before the XXXX adjustment. The total amount of interest reversed or forgiven as a result of reducing the interest rate from 15.16 % to 6 %. The total amount credited toward principal. The total amount of late fees waived after XX/XX/year>. A transaction-level explanation of each adjustment reflected on my payment history, including the adjustment effective XX/XX/year>. The principal balance immediately after all XXXX adjustments were completed. Documentation demonstrating that the loan was fully recalculated beginning on XX/XX/year> using the 6 % interest rate required under the XXXX. Additionally, I request documentation showing exactly how the final charged-off balance was calculated. Specifically, I request : A complete payoff and charge-off calculation. An amortization schedule or equivalent accounting showing the loan before and after the XXXX adjustment. Confirmation that no interest in excess of the 6 % XXXX cap remained included in the charged-off balance. Confirmation of the balance and payment history reported to each consumer reporting agency after the XXXX adjustment was applied. This complaint is not intended to dispute that Flagship reduced my contractual interest rate to 6 %. Rather, I am requesting sufficient documentation to independently verify that the account was fully recalculated, that all required XXXX benefits were properly applied, and that the balance ultimately charged off and reported to the credit bureaus accurately reflects those adjustments. At this time, Flagship has explained that the account uses simple interest, but it has not provided the accounting necessary to verify the total amount of XXXX relief applied or the accuracy of the final balance. I respectfully request that Flagship provide this documentation so that the account can be independently reviewed and verified.

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