ComplaintsforI.A.C., Inc.

• Initial Complaint

  01/03/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I regret ever having a loan with IAC. After an unprofessional email in august, I was told I was moved to a different account only for a repeat to happen in October. When it happened in December again, my husband request a 10 day pay off that it took the, a few weeks to get us. I finally made a payment 12/30 with confirmation number ********. Now on 1/3, I go to head to the transfer station and ***** is gone. Apparently the check has not cleared after 4 days, and I’m on the hook for repo fees and whatever it will take to have the vehicle released from *******. I want the repo fees removed from my account: ******

  Business response

  01/06/2023

  IAC is in response to the complaint# ******** filed by ****** ******* on January 3, 2023. In August, the customer did request to have her account be handled by another customer service representative verses the one she was dealing with. Due to system automation, the original representative sent out a message to customer both in October and December.
  In December, the account was then handled by another representative who received authorization to speak to customers’ husband on her behalf. In December messages were left on December 13th, December 20th and December 23rd. On December 23rd, customers’ husband responded requesting a 10 day payoff as well as stated he would speak to customer in reference to the past due November 20th car payment and have customer reach out to IAC. The 10 day payoff letter was sent via email to customer on December 23rd.
  On December 29th, the customer service representative reached out once again to customers husband and stated to please have customer contact our office by 9:00 am on Friday, December 30th and that it was a very import business matter based upon the status of the customers account.
  With no response from customer and based upon the status of the account being past due for November 20th, and now due for December 20th, the account was then moved to our repossession dept to handle on Friday, December 30th.
  An order of repossession was placed on Friday, December 30th at 4:00 pm.
  Our office hours are until 4:30 pm Monday thru Friday, and closed on Saturdays and Sundays. Due to the federal holiday on Monday, January 2nd, 2023, our office was also closed.
  Customer made payment online on Friday evening, December 30th at 8:17 pm and then sent a text message on Saturday, December 31st at 12:24 pm providing the confirmation number of payment. Due to IAC being closed at the time of payment made, IAC was not aware of payment made until Tuesday, January 3rd, upon return to the office at 8:30 am. IAC does not monitor incoming payments, phone calls, emails or text messages after business hours.
  In the meantime, the vehicle was repossessed on Monday, January 2nd at 3:33 am. IAC does not collect funds for the repossession of the vehicle. Funds are paid directly to the repossession company by customer. Upon review of this account, IAC followed all policies and procedures related to the repossession of this vehicle.

  Customer response

  01/06/2023

  
  Complaint: ********
  
  I am rejecting this response because:

  I have attached one of the “automatic” responses. Additionally a 10 day pay off was requested in September as well as early December. My vehicle was at my home at 8am when they admit to having seen it, and if an ACH is not accepted for repo accounts then no confirmation should be given. 
  

  please credit my account the 499.45 that I paid the repo agency as I was unable to refinance due to your delays and continued disorganization as well as unprofessional employee. 
  
  Sincerely,
  
  ***** *******

  Business response

  01/20/2023

  IAC is responding to the additional information received from the consumer based upon the original complaint submitted to the Better Business Bureau on 1/3/2023 by ***** *******. The complaint was assigned ID number ********.
  Per request by customers husband on December 23, 2022, a 10 Day Payoff Letter was emailed to customer. IAC does not have notification of a request for the 10 Day Payoff Letter in September.
  When customer made an ACH payment on December 30, 2022 at 8:17 pm, the customer received a reference number. This reference number is for the acknowledgement of payment being received. The receipt then states “ Please allow up to three business days to post to your account.”
  IAC has and is always willing to work with the customer and we have a proposed resolution to this matter. IAC is asking the customer to contact Angela G******* at IAC at ###-###-####, ext 114 to discuss the proposed resolution.

• Initial Complaint

  10/31/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Me and fiancée bought car in 2018 in *********** with a loan from IAC. Moved to **** shortly after, And then ****. Fast forward to 2022. We get the title after paying off the car. They send us an **** title, with our old address, with an employees handwriting on it (any markings voids the title) We call and speak to Angela, supposedly the manager. She says “you aren’t our customer anymore” very rudely and isn’t willing to work with us. Says that it’s our responsibility to go to the dmv and get the title changed. But the title she sent us isn’t even valid. They never fulfilled their duty to send us a proper title even though we paid off the car. We have had nothing but problems with this shark company and I want a solution. My only accepted solution is to receive a new copy of my fiancées title with the correct address AND STATE with no handwriting on it! This is ridiculous I will take them to court over this.

  Business response

  11/07/2022

  IAC is aware of the complaint filed by Mr. ********, however IAC has no loan on record under ******* ******** as the buyer or the cosigner. If he was not on the contract for the loan he is referencing, it would need to be resolved directly with the account holder.

• Initial Complaint

  10/27/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I was under water with a vehicle that had been totalled, and was paying an agreed upon amount of 25 monthly taken directly out of my account. IAC started to report late payments, although I never missed an agreed upon payment. I spoke with a manager, who informed me that they would delete the account from my credit completely as well as the arraignment. They claim they did delete from credit, but they are now demanding payment and threatening legal action. The also claim they do not record calls, therefore they are unable to verify what I was told, and refuse to stand on the original agreement.

  Business response

  11/07/2022

  IAC is in response to the complaint filed by ******* ******* on October 27, 2022. In April 2018, Ms. ******* ******* financed a car loan with IAC on a 2012 ********** ******, Account# 1*****. Ms. ******* was making monthly car payments in the amount of $283.55 up until June 2020, when the vehicle was involved in an accident and Metlife Insurance deemed the vehicle a total loss.
  At the time of the loss, the balance on the loan was $5,917.90. According to the total loss settlement report provided by ******* *********, IAC received a check in the amount of $3,562.50 with a remaining outstanding balance on the loan of $2,388.63.
  On June 23, 2020, an agent at IAC spoke with Ms. ******* and an agreement was made to pay $25.00 monthly on the 15th of each month, beginning July 15, 2020. At that time IAC also stopped recurring interest on the loan, and all future payments made would go towards the remaining principal balance on the loan of $2,388.63.
  Since $25.00 was being paid monthly and not the full monthly payment of $283.55 the account became delinquent and began to be reported to the credit bureaus as such. On August 24, 2022, Ms. ******* reached out to our office and spoke to our Credit Manager who agreed to stop reporting this account to the credit bureaus. At that time, the account was removed from the consumers credit report. When IAC sent over the file to all the credit bureaus in September, this account was still active which caused the account to begin to be reported again.
  IAC will be honoring the consumers request, and our IT department has been notified to permanently remove this account from the consumers credit reports. The file being sent to the three credit bureaus this month will be sent between November 11th and November 18th.
  As of today, November 7, 2022. there is a remaining outstanding balance of $1,748.57 on the loan. Upon Ms. ******* speaking to an IAC agent on October 27, 2022, a settlement was offered in the amount of $1500.00. Upon review of the law in the State of Mass, Chapter 255b, Section 20b, “it states that if the agreement at the time the loan was initiated provides that the debtor is to obtain insurance protecting the collateral against fire, theft, collision or other hazards and naming the creditor as loss payee, and if prior to the repossession or surrender of the collateral, loss or damage occurs which would give rise to insurance proceeds, then nothing in this section shall be deemed to limit the creditors rights. For the purpose of this section the unpaid balance of a consumers’ credit transaction shall be that amount which the debtor would have been required to pay.”
  In order to obtain a settlement on this claim, IAC, as previously stated, will be permanently removing the IAC account on Ms. *******s’ Trans union, Experian, and Equifax credit report between the dates of November 11th and November 18th. According to the law in the State of Massachusetts, Chapter 255b, Section 20b, IAC is requesting Ms. ******* to continue to honor the arrangement made to have IAC process payments of $25.00 a month on the 15th of each month.
  Please have Ms. ******* reach out to either Marisa A*********, Controller, at ***** ********, extension *** or Angela ********, Compliance Specialist, at extension *** with any questions.

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