ComplaintsforGateway Financial Solutions

• Initial Complaint

  11/08/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I would like for this to account to be removed completely from all major credit bureaus. Gateway has constantly been reporting bogus charges on this account and it's affecting my credit score tremendously. They also filed a wage garnishment that I knew nothing about. The Case number is STSV2022000008 in ***************************. The Garnishment started around March 2024. They are taking money out of my paycheck. I have never been to court in regards to this matter. I also have Court Ordered Child Support that is deducted from my paycheck as well. Gateway is still reporting to the credit bureaus that I am making late payments and this account has been closed for the past seven years or more. I was never served any type of paperwork regarding court or wage garnishment. I realized the garnishment was going on when my paycheck became less than normal. I need for this to be investigated immediately. The vehicle that was on this account was voluntarily given up. I asked them to come and pick up the vehicle and they took months before they even came and picked the car up. I didn't hear anything from Gateway until about a year ago when I started working on my credit report and disputing items. I have disputed this on my credit report several times. Gateway is still reporting to the bureaus as if I still have possession of this vehicle and its showing on my credit like three separate accounts. ********************** has caused me a lot of pain and suffering in reference to this matter. I really need for this garnishment to be deleted and undone because it was unfair and not done the correct way. As I started before, this account has been closed for the past seven years or more.

  

  Business response

  11/13/2024

  November 13,2024
  
  Better Business Bureau of Detroit & ****************
  ********************************************
  **********, *******;   48076-6409
  Re:  BBB Case # ********
  
  Dear Ms. ***************** immediately researched Ms. ******* ***** account and compared the history and notes to the complaint filed with the BBB. It is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and concerns with the aim of reaching an amicable resolution in a timely manner. In the case of Ms. ***** we have provided a summary of her statements for your review.
  
  Ms. **** signed a retail installment contract dated 7/27/2017. She began making payments in September 2017 and continued until January 2020.During this time, several contracted payments were not made on time, resulting in the account becoming past due.
  
  Due to continued delinquency and non-payment, the account was charged off on 3/24/2020. Ms. ***** vehicle, pledged as collateral in the retail installment contract, was repossessed on 5/27/2020. The vehicle was subsequently sold at auction, and the proceeds were applied to the outstanding balance, leaving a deficiency balance due. *** also canceled the *** contract and applied the refund to the account. All required pre- and post-repossession notices were sent in compliance with state law.
  
  GFS filed for a default judgment against Ms. ***** which was granted on 4/14/2022. Prior to this, GFS served Ms. **** with the civil suit on 2/15/2022. In March 2022, Ms. **** contacted GFS, indicating that she had received documents from GFS but was unsure of their contents. *** provided her with the contact details of the outside attorney handling the case for further assistance. Following the judgment, *** filed for garnishment against Ms. ***** wages, and garnishment payments began in June 2024. These payments have been received and applied to the outstanding judgment balance. Ms. **** continues to owe the remaining balance of the judgment.
  
  
  GFS attempted to contact Ms. **** on 11/11/2024. Unfortunately,she did not answer the call, so a message was left requesting a callback. As of the date of this response, we have not received a return call. Additionally,*** has verified that Ms. ***** account information is being reported accurately to **********, Equifax, and Experian in accordance with the **** Credit Reporting Act (FCRA), the Equal Credit Opportunity Act (ECOA), and Regulation B guidelines.
  
  We believe we have addressed Mr. ****** concerns and that no further actions are required from GFS at this time. If Mr. ***** has any additional questions, she is encouraged to call GFS at **************, Monday through Friday, between 8:00 AM and 5:00 PM ET.  
  
  Sincerely,

  
  ***** *****
  Compliance Manager

  Customer response

  11/19/2024

  [A default letter is provided here which indicates your rejection of the business's response. 
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of why I am rejecting this response appear below:
  
  [You must provide details of why you are not satisfied with this resolution. Please type details here:]
  
  Regards,
  
  ******* Fair

• Initial Complaint

  10/18/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  theres this busniess on my credit that is an auto mobile and its on my credit as a profit and loss charge off, this account does not belong to me ive never even heard of this busniess. i am not responsible for owing them anything. it should be off my credit not on my credit as a charge off. this account was open up ************** would like this to come off my credit.

  

  Business response

  10/21/2024

  October 21, 2024
  
  Better Business Bureau of ******* & ****************
  ********************************************
  ******************;   48076-6409
  Re:  BBB Case # ********
  
  Dear Ms. **************** is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and concerns, with the aim of reaching an amicable resolution in a timely manner. Below is a summary of our findings regarding the case of ****** ********
  
  GFS finances retail installment contracts assigned to us by both independent and franchise dealers. After a comprehensive review of Ms. ******** account and its history, we would like to share our findings.
  
  Ms.******* signed a credit application authorizing GFS to obtain a credit report. On 3/9/2018 Ms. ******* signed a retail installment contract, which was subsequently assigned to ***. *** has conducted a fraud review and has found no evidence of fraud:
  There was no fraud alert on the bureau at funding.
  Residency was verified with Ms. ******** landlord on 3/6/2018.
  Employment was verified with Ms. ******** employer on 3/15/2018.
  Proof of income was received at funding; paystub with matching name, and prior years W-2 with matching name, address, and social security number.
  GFS completed a customer confirmation call with Ms. ******* on 3/16/2018
  GFS had several conversations with Ms. ******** validating her personal information prior to each conversation.
  
  Ms.******* began making payments on the contract in April 2018 and continued until December 2018. After the December 2018 payment, no further payments were received, resulting in the account becoming past due. Due to ongoing delinquency and non-payment, Ms. ******** account was charged off in February 2019. To the best of GFS knowledge, Ms. ******* is still in possession of the vehicle which is pledged as collateral in the retail installment contract.
  
  Prior to this BBB complaint, GFS did not receive any requests for account validation from Ms. ******** We have mailed validation documents to her on 10/21/2024, in response to this BBB complaint, which includes a copy of the retail installment contract and payment history.
  
  GFS has verified that Ms. ******** account information is being reported accurately to *********** Equifax, and Experian in accordance with the Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA), and Regulation B guidelines.
  
  We believe we have addressed Ms. ******** concerns. Should she have any further questions or wish to discuss payment arrangements or a settlement offer, she can contact our office at ***************
  
  Sincerely,
  
  ***** *****
  Compliance Manager

• Initial Complaint

  09/26/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  They were dishonest and rude they didnt try to help me resolve the issue they help RightWay defraud consumers and they look for certain consumers that they do it too I sent this contact email with the diagnosis I had got did because thats what gateway ask me to do then when I asked was this the only car you all approve me for he said no I cant answer that I said thats what the car sales lady gabby said **** her boss said he said you want us to reposs the car a car I had 2 days are you serious that was scamming to me for sure

  

  Business response

  10/08/2024

  October 8, 2024
  
  Better Business Bureau of Detroit & Eastern Michigan
  20300 W 12 Mile Rd Ste 202
  Southfield, MI    48076-6409
  Re:  BBB Case # 22342907
  
  Dear Ms. Brown:
  
  It is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and/or concerns, with the aim of reaching an amicable resolution in a timely manner. In the case of Cynthia Bailey, we have provided a summary of her statements for your review.
  
  GFS finances retail installment contracts that are assigned to GFS from both independent and franchise dealers. Following a thorough review of Ms. Bailey’s account and corresponding account history, we would like to share our findings.
  
  Ms. Bailey signed a retail installment contract dated 9/10/2024, which was subsequently assigned to GFS. GFS was not involved in the vehicle selection process; that negotiation took place between Ms. Bailey and the selling dealer. Ms. Bailey has not made any payments on the account yet, with her first payment due on 10/10/2024.
  
  On 9/14/2024, Ms. Bailey contacted GFS to report mechanical issues with her vehicle. She mentioned that she had taken the vehicle back to the dealership for servicing, but the engine light came on again after she received it back. GFS reached out to the selling dealership on 9/17/2024, who stated the issues were addressed and stated they had not heard back from Ms. Bailey.
  
  On 9/27/2024, GFS contacted Ms. Bailey to address her concerns. We explained that we had previously reached out to the dealership after her initial report and that we would follow up with them again to assist getting her issues resolved. Ms. Bailey stated that she had no additional concerns with GFS and that she wanted her vehicle issues address by the dealership. After speaking with Ms. Bailey, GFS contacted the dealership again on 9/27/2024 and spoke with the store manager, who stated he would reach out to Ms. Bailey directly regarding the vehicle issues.
  
  GFS followed up with Ms. Bailey on 10/7/2024 and confirmed that she had spoken with the dealership. Ms. Bailey dropped the vehicle off on 10/4/2024 and picked it up after the repairs were completed on 10/7/2024. GFS advised Ms. Bailey to reach out again if she experiences any further issues with the vehicle following the repairs.
  
  We believe we have addressed Ms. Bailey’s concerns and that no further actions are required from GFS at this time. If Ms. Bailey has any additional questions, she is encouraged to call GFS at (800) 500-7092, Monday through Friday, between 8:00 AM and 5:00 PM ET.  
  
  Sincerely,
  
  Kacie Prine
  Compliance Manager

• Initial Complaint

  09/22/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I am not liable for this debt with gateway financial solutions I do not have a contract with gateway financial solutions they did not provide me with the contract as I requested

  

  Business response

  10/04/2024

  October 4, 2024
  
  Better Business Bureau of Detroit & ****************
  ********************************************
  **********,*******;   48076-6409
  Re:  BBB Case # ********
  
  Dear Ms. **************** is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and concerns, with the aim of reaching an amicable resolution in a timely manner. Below is a summary of our findings regarding the case of ******************************* finances retail installment contracts assigned to us by both independent and franchise dealers. After a comprehensive review of Mr. ******** account and its history, we would like to share our findings.
  
  Mr.******* signed a credit application authorizing GFS to obtain a credit report. On 9/22/2017 Mr. ******* signed a retail installment contract, which was subsequently assigned to ***. Mr. ******* began making payments on the contract in October 2017 and continued until March 2019. After the March 2019 payment, no further payments were received, resulting in the account becoming past due.
  
  Mr.******** vehicle, which was pledged as collateral in the retail installment contract, was repossessed on 3/21/2019. Following this, Mr. ******* paid to reinstate the contract, and the vehicle was returned to him on 3/22/2019. He resumed making payments until September 2019, when the account again became past due. Consequently, the vehicle was repossessed once more on 9/26/2019. The vehicle was sold at auction, and the proceeds were applied to the outstanding account balance, resulting in a remaining deficiency. All pre- and post-repossession notices were mailed to Mr. ******* as mandated by state law.
  
  Due to ongoing delinquency and non-payment, Mr. ******** account was charged off in November 2019. *** cancelled the *** contract Mr. ******* purchased, and posted the refund to the account.
  
  Prior to this BBB complaint, GFS did not receive any requests for account validation from Mr. ******** In response to his BBB complaint, we have mailed validation documents to Mr. ******* on 10/4/2024, which includes a copy of the retail installment contract and payment history.  Due to a cease-and-desist placed on the account at Mr. ******** request in October 2019, GFS has not contacted him regarding this complaint. *** will continue to report Mr. ******** account to **********, Equifax, and Experian in accordance with the Fair Credit Reporting Act (FCRA), Equal Credit Opportunity Act (ECOA),and Regulation B guidelines.
  
  We believe we have addressed Mr. ******** concerns. Should he have any further questions or wish to discuss payment arrangements or a settlement offer, he can contact our office at ***************
  
  Sincerely,
  
  ***** *****
  Compliance Manager

  Customer response

  10/04/2024

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.

  Better Business Bureau:

  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.

  Regards,

  ***** *******

• Initial Complaint

  09/05/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I bought a vehicle from ***** **** and after only a few months the transmission went completely out. I was still paying this financial company until I lost my job. I repeatedly ask them to come pick up the car because it didn't move or work and it was causing more problems with my landlord. They chose not to come get the vehicle and to leave it at my home . So I had to move the vehicle to a mechanic shop and it sat at the mechanic shop for six months and they charged me five thousand dollars. Me and that shop worked out a payment plan and he settled with me for much lesser thank goodness. But the second shop I put it in costed three thousand. Gateway financial company called and spoke to the shops owner and decided yet again they didn't want the vehicle. Fast forward to now the served me with papers and I went to court but they are trying to over charge me . Not to mention that they illegally put my name on a title in ********. I have the original title and the vehicle still belongs to ***** **** because they never signed the back of the title so I could get it registered. This company is terrible and unprofessional.

  

  Business response

  09/16/2024

  September 16,2024
  
  Better Business Bureau of ******* & ****************
  ********************************************
  **********, *******;   48076-6409
  Re:  BBB Case # ********
  
  Dear Ms. **************** is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and/or concerns, with the aim of reaching an amicable resolution in a timely manner. In the case of Briannia ****, we have provided a summary of her statements for your review.
  
  GFS finances retail installment contracts that are assigned to GFS from both independent and franchise dealers. Following a thorough review of Ms.****s account and corresponding account history, we would like to share our findings.
  
  Ms. **** signed a retail installment contract dated 2/19/2022,which was subsequently assigned to ***. According to our records, the title was perfected with GFS listed as the lienholder, following standard procedures. Ms. **** began making payments on the contract in March 2022 and continued until February 2023. During this time, several contracted payments were not made on time, resulting in the account becoming past due. As a result,Ms. ****'s vehicle, which was pledged as collateral in the retail installment contract, was placed out for repossession in April 2023.
  
  In May 2023, Ms. **** informed GFS that her vehicle was at a repair facility. *** attempted to contact the facility, but no phone number was available online. In June 2023, GFS spoke with Ms. **** to clarify her intentions regarding the account. She mentioned being on medical leave and confirmed the vehicle was still at a repair facility, but refused to provide further location details. Due to continued delinquency and non-payment, Ms.****'s account was charged off in June 2023.
  
  The repossession order was closed in August 2023 due to insufficient information on the vehicle's location and associated recovery fees. In February 2024, Ms. **** contacted GFS to inquire about a voluntary repossession and provided the location of the repair facility where the vehicle was stored. After contacting the facility, *** made the decision not to recover the vehicle due to the extensive repairs needed and the fees owed. *** filed for a default judgment against Ms. **** for the balance due which was granted on 3/21/2024.
  
  GFS called Ms. **** on 9/13/2024 to address her concerns. Ms. **** stated she already spoke with the **************** and had no further questions for GFS. As of the date of this response, Ms. **** owes the remaining balance of the judgment.
  
  We believe we have addressed Ms. ****s concerns and that no further actions are required from *** at this time. If Ms. **** has any additional questions or would like to discuss payment arrangements or a settlement offer, she is encouraged to call GFS at **************, Monday through Friday, between 8:00 AM and 5:00 PM ET.  
  
  Sincerely,
  
  ***** *****
  Compliance Manager

• Initial Complaint

  08/24/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  2015 **** Focus SE purchased from right way auto and financed thru gateway financial solutions..car is used paying 453 car note monthly I have 49 more months to pay on this car . I am being over charged for a used vehicle they are charging ****** for a car that is really worth ***** which the car came with a dent and I have got diagnostics done and a lot of things are wrong with the vehicle after rightway auto told me it was NOTHING wrong with the vehicle . I've paid for a year on this car.. I don't even think they gave me the car the correct way because I turned out to be the co signer and my guy is the buyer .

  

  Business response

  08/29/2024

  August 29,2024
  
  Better Business Bureau of Detroit & ****************
  ********************************************
  **********, *******;   48076-6409
  Re:  BBB Case # ********
  
  Dear **************:
  
  It is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and/or concerns, with the aim of reaching an amicable resolution in a timely manner. In the case of *********************,we have provided a summary of her statements for your review.
  
  GFS finances retail installment contracts that are assigned to GFS from both independent and franchise dealers. Following a thorough review of Ms.***** account and corresponding account history, we would like to share our findings.
  
  On 6/29/2023 ************ signed a retail installment contract as the co-buyer, along with Mr. ***************************** as the buyer, which was subsequently assigned to GFS. GFS was not a participant in the vehicle selection process. This was negotiated between ************ and the selling dealer.
  
  GFS conducted a welcome call on 7/5/2023, during which no issues or repairs were mentioned regarding the vehicle. A review of the contact history between GFS and the buyers shows no mention of any vehicle issues until December 2023, when the vehicle was involved in a minor accident.
  
  ************ began making payments on the contract in August 2023 and has continued to make payments up to the date of this response. However,between August 2023 and February 2019, several payments were not made on time,resulting in delinquency and missed payments.
  
  GFS spoke with ************ on August 26, 2024, to address her concerns. During the conversation, GFS clarified that during the confirmation call, no issues with the vehicle were reported. ************ stated that she has assumed full financial responsibility for the loan and requested that ***************** be removed from it. GFS explained that this is not possible and suggested that ************ consider a trade-in or refinancing option. ************ stated she would reach out to ****************** to discuss their options and didnt have any further questions for GFS at that time.
  
  We believe we have addressed Ms. ***** concerns and that no further actions are required from GFS at this time. If ************ has any additional questions or would like to discuss payment arrangements or a settlement offer, she is encouraged to call GFS at **************, Monday through Friday, between 8:00 AM and 5:00 PM ET.  
  
  Sincerely,
  
  *********************
  Compliance Manager

• Initial Complaint

  08/23/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am not liable for this debt with ******* WIRELESS, I do not have a contract with ******* WIRELESS, they did not provide me with the original contract as i requested

  

  Business response

  08/23/2024

  August 23, 2024
  
  Better Business Bureau of ******* & ****************
  ********************************************
  **********,*******;   48076-6409
  Re:  BBB Case # ********
  
  Dear **************:
  
  Gateway Financial Services (GFS) has received the complaint filed by *********************** and has performed a complete review. The findings from this review and the actions taken by GFS are detailed below.
  
  Upon receipt of ************** complaint dated 8/23/2024, Gateway Financial Services (GFS) took the following actions:
  
  GFS immediately researched ************** complaint.
  ************** does not mention Gateway Financial Solutions in her complaint.
  We have determined that this dispute pertains to ******* Wireless, rather than GFS.
  
  After reviewing Ms. ****** complaint and completing our due diligence to research it, GFS has concluded that the complaint was filed against the wrong company. At this time there is nothing that GFS is able to do to help the consumer on the issues outlined in this dispute. If ************** would like to speak with GFS, she can call us at ************.
  
  
  Sincerely,
  
  
  *********************
  Compliance Manager

• Initial Complaint

  08/09/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  The financial institution reclaimed my vehicle and I paid almost $3000 to get it back and have have over 7 different issues arise from trying to get my vehicle back. Information has been withheld from me, they have lied to me, and they haven't tried to help me one bit.

  

  Business response

  08/16/2024

  August 16,2024
  
  Better Business Bureau of Detroit & ****************
  ********************************************
  **********, *******;   48076-6409
  Re:  BBB Case #********
  
  Dear **************:
  
  It is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and/or concerns, with the aim of reaching an amicable resolution in a timely manner. In the case of *************************, we have provided a summary of her statements for your review.
  
  GFS finances retail installment contracts that are assigned to GFS from both independent and franchise dealers. Following a thorough review of Ms.******* account and corresponding account history, we would like to share our findings.
  
  **************** signed a retail installment contract dated 9/2/2022,which was subsequently assigned to GFS. **************** began making payments on the contract in October 2022. GFS completed an account extension in February 2024,which allowed past due payments to be placed at the end of the loan and brought the account current. **************** made one payment after the extension in March 2024. After the March 2024 payment the account became past due.
  
  As a result, Ms. ******* vehicle, which was pledged as collateral in the retail installment contract, was repossessed on 7/24/2024. **************** contacted GFS after the vehicle was repossessed to discuss the process of getting the vehicle back. GFS quoted **************** the amount to reinstate and informed her we could work with her on payment arrangements, but that the vehicle could not be released to her until the reinstatement amount was paid in full.**************** paid to reinstate the contract, and the vehicle was released back into her possession on 8/9/2024.
  
  On 8/15/2024, GFS contacted ****************** to address her concerns.During the call, GFS explained to **************** that her account would reflect a current status once the extension process is completed. GFS also provided her with contact information to retrieve her personal belongings. **************** expressed satisfaction with this information and had no further questions or concerns.
  
  We believe we have addressed Ms. ******* concerns and that no further actions are required from GFS at this time. If **************** has any additional questions, she is encouraged to call GFS at **************, Monday through Friday, between 8:00 AM and 5:00 PM ET.  
  
  Sincerely,
  
  *********************
  Compliance Manager

• Initial Complaint

  07/20/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I am not liable for this debt with gateway financial solutions, I do not have a contract with GFSII LLC DBA GATEWAY, they did not provide me with the original contract as i requested,

  

  Business response

  07/23/2024

  July 23, 2024
  
  Better Business Bureau of ******* & ****************
  ********************************************
  **********,*******;   48076-6409
  Re:  BBB Case # ********
  
  Dear **************:
  
  It is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and concerns, with the aim of reaching an amicable resolution in a timely manner. Below is a summary of our findings regarding the case of ***************************.
  
  GFS finances retail installment contracts assigned to us by both independent and franchise dealers. After a comprehensive review of Mr. ******** account and its history, we would like to share our findings.
  
  ***************** signed a credit application authorizing GFS to obtain a credit report. On 3/05/2020 ****************** signed a retail installment contract, which was subsequently assigned to GFS. ****************** began making payments on the contract in April 2020 and continued until May 2021. After the May 2021 payment, no further payments were received, resulting in the account becoming past due.
  
  As a result, Mr. ******** vehicle, which was pledged as collateral in the retail installment contract, was repossessed on 8/09/2021. The vehicle sold at auction,and the proceeds were applied to the outstanding account balance. Due to ongoing delinquency and non-payment, Mr. ******** account was charged off in September 2021.
  
  Prior to this BBB complaint, GFS did not receive any requests for account validation from ******************. In response to his BBB complaint, we have mailed validation documents to ****************** on 7/23/2024, which includes a copy of the retail installment contract, credit application, and payment history. Once the account balance is fully paid, GFS will send ****************** the paid-in-full documentation, which includes the original contract.
  
  We believe we have addressed Mr. ******** concerns. Should he have any further questions or wish to discuss payment arrangements or a settlement offer, he can contact our office at **************.
  
  Sincerely,
  
  *********************
  Compliance Manager

• Initial Complaint

  06/20/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I am writing to request the deletion of an auto loan entry from my credit report. Below are the details of the auto loan in question:- Lender/ Creditor: Gateway Financial - Date Opened: Feb 28th, 2018 - Current Status: Charged Off/Loss Write off I recently reviewed my credit report and noticed that the above-mentioned auto loan is still being reported. However, this loan has been Charged off . I believe that the continued presence of this loan on my credit report is inaccurate and negatively affects my credit score.In accordance with the Fair Credit Reporting Act (FCRA), I request that you investigate this matter and delete the inaccurate auto loan entry from my credit report. Thank you for your prompt attention to this matter. I look forward to your response.Sincerely,*****************************

  

  Business response

  06/24/2024

  June 24, 2024
  
  Better Business Bureau of Detroit & ****************
  ************************************************************************************;   48076-6409
  Re:  BBB Case # ********
  
  Dear **************:
  
  It is the policy of Gateway Financial Solutions (GFS) to thoroughly investigate all customer complaints and/or concerns, with the aim of reaching an amicable resolution in a timely manner. In the case of *****************************, we have provided a summary of his statements for your review.
  
  GFS finances retail installment contracts that are assigned to GFS from both independent and franchise dealers. Following a thorough review of Mr.********* account and corresponding account history, we would like to share our findings.
  
  ******************** signed a retail installment contract dated 2/28/2018,which was subsequently assigned to GFS. ******************** began making payments on the contract in March 2018 and continued until February 2019. During this time,several contracted payments were not made on time, resulting in the account becoming past due.
  
  As a result, Mr. ********* vehicle, which was pledged as collateral in the retail installment contract, was repossessed on 10/19/2018.The vehicle was sold at auction, and the proceeds were applied to the outstanding account balance, leaving a deficiency balance remaining. GFS offered ******************** a troubled debt plan with lowered payments and reduced interest, which he accepted. GFS completed the troubled debt account adjustment,and ******************** made payments under this agreement from February 2019 until August 2021. After the August 2021 payment, no additional payments were received from ********************.
  
  Due to ongoing delinquency and non-payment, Mr. ********* account was charged off in October 2021. As of the date of this response, ******************** still owes the deficiency balance remaining on the account.
  
  GFS has not contacted ******************** in response to the BBB complaint he filed due to a cease-and-desist order placed on his account in September 2021. GFS has verified that Mr. ********* account information is being reported accurately to TransUnion, Equifax, and Experian in accordance with the Fair Credit Reporting Act (FCRA), the Equal Credit Opportunity Act (ECOA), and Regulation B guidelines.
  
  We believe we have addressed Mr. ********* concerns and that no further actions are required from GFS at this time. If ******************** has any additional questions or would like to discuss payment arrangements or a settlement offer, he is encouraged to call GFS at **************, Monday through Friday, between 8:00 AM and 5:00 PM ET.  
  
  Sincerely,
  
  *********************

  Customer response

  06/24/2024

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.

  Better Business Bureau:

  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.

  Regards,

  *****************************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩