We took out a second mortgage on our home five year ago through "Equicredit" now known as Fairbanks Capital Corporation. We did this to consolidate debts due to the sudden illness of spouse and consequent loss of income due to this illness.
This was only done out of desperation at a 13% interest rate. We agreed to this high interest rate even though we felt taken advantage of at the time. We are now refinancing our home (at a lower interest rate) and are trying to include the high interest loan with Fairbanks. Our mortgage company has tried unsuccessfully to obtain a payoff on this loan so that we could close at the end of the week. After rudeness and disrespect from the customer service people at Fairbanks, our loan broker asked us to call Fairbanks and perhaps we would be more successful.
I called customer service and the first employee hung up on me after "he (Andrew)" wanted to "update" our account. I told "him" this wasn't necessary since we were paying the loan off. After arguing back and forth with me he utlimately hung up on me. Needless to say I called right back. Again, met with resistance, but I did give "her" (Ms. Kessler) the requested information, she then forwarded me to yet another a employee "Mario." I told "Mario" what I wanted and he told me it would take 5 to 7 business days to obtain a payoff.
I told him I was trying to close on this loan at the end of the week and needed the pay-off now. He stated the company policy could not be broken and that it would be 5-7 business days before I could be given this information. I asked him why this information wasn't conveyed to the consumer earlier, his comment was "why did you wait until now to request the information." I let him know we had been trying to obtain this information for several days and could not locate the proper office due to "Equicredit" selling out to time. I asked him why I couldn't obtain this information in a shorter time frame and that the information from my major mortgage lender had been obtained in a much more timely manner.
I told him I wanted the information sent to me asap. He stated it had already been ordered by my Mortgage company and would cost me a second time. I told him it wouldn't cost me, his comment was "yes it would if I wanted a payoff." The conversation was ended by my telling him I expected the payoff to be sent directly to my Mortgage Company within the 5-7 days.
I'm sure there are many companies such as this out there and I cannot understand why in the United States this is acceptable. What I dislike the most is the disrespect and rudenss conveyed by this company by three different individuals on two separate occasions. What happened to true "Customer Service?"
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