I've identified inappropriate accounting with my Drive Financial Account. Drive has been incorrectly amortizing my loan (To their advantage). After speaking directly to a Drive Financial Account Services Manager (FASM), I've learned they also included fees and charges to my account without my knowledge and without listing such on my paper statements or my online payment & amortization history. After bringing this to the attention of the FASM, he could not provide a logical reason Why such fees and charges were applied, nor could he explain the extreme inconsistencies with the advertised amortization schedule of my account. The FASM and I ran the per diem over and over again, and could not get the numbers to match. Always in the favor of Drive. The FASM forwarded my findings to management for review. Unbeknown to management (Or so I am told), The Drive FASM, agreed to insert my payments as they were made, in an Independent amortization model to confirm mistakes have been made and was to contact me with the results.
The FASM has since ceased communicating with me, confirming my belief of intentional improper accounting or FRAUD by Drive. I am in the finance business and am very familiar with standard simple interest amortization, and am 100% certain; Drive is Skimming from my payments. While only a few dollars here and there; multiply my account with the tens and millions of loans they service, and I believe I've uncovered a million dollar fraud scheme with Drive. While these are Strong words, after reading all of the trash talk on several forums of Drive's deceptive and unethical/legal practices, I believe I've uncovered yet another abusive practice.
I am unfortunately a few months away from refinancing this loan (Could not happen any sooner). I've been making my payments in a timely manner (0x30) for 19 months and soon my credit score will qualify me for a more conventional style bank or credit union loan. Where do I go from here? I do NOT want Drive to get away with this, and I want the proper payments applied to my principal. It is not worth paying thousands of dollars to retain an attorney to Find a few thousand dollars. Is there an active class action law suit for relative to my situation? Do I file a complaint with the TX (Where I procured the loan) Attorney General's Office; or do I file such with the FL Attorney General's Office (Where I presently reside)? Any guidance is greatly appreciated.
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