I am from the Detroit area and prior to had an excellent credit rating (all of my adult life) for over 25 years. Not unlike many others in this state, we lost our jobs, our home, 3 cars that were paid off, all of our savings and retirement. We have since obtained new employment and are debt free. We are working toward rebuilding our ruined credit before we reach the age of retirement.
Toward this goal, we financed a small fishing boat in May. It's our only debt. Because our credit rating was poor, Marine One was our only financing option.in order to insure that there would be no late payments, that this loan would show up on our credit report as "pays as agreed", and would positively impact our credit score, we opted to have the boat payments automatically deducted from our checking account the day after our paychecks are automatically deposited.
The loan payment is due on the 21st of the month. Marine One takes the payment out of the account 3 weeks early, on the 1st of each month.
However, we are constantly receiving collection notices. The first two or three notices were received before the first payment was due. I received another notice several days ago. I called the company several times and discussed this problem with Juan and Annette. Every time I speak with them, I am assured that the collection notices are sent out in error and that my payments are being taken out on time... Then I receive another collection notice.
At first, I thought these payments were supposed to be paid on the 16th of each month and mentioned that date to them many times during our conversations. They checked their files and agreed that the 16th was the correct date. I called my bank today, the 19th, to see if the payment had been made. It had, but it was made back on the 1st.
I have not yet received my copy of the loan documents from Marine One, even though this sale took place almost 8 weeks ago. I cannot verify which date for the withdrawal is the one that was agreed upon, the 1st or the 16th, but no matter which date is correct, these people are receiving their payments. There has never been a late payment. The second payment isn't even due for another two days.
I don't know why the representatives from Marine One agree that my payments are to be withdrawn on the 16th, are taking out the payments on the 1st, yet I am still receiving these collection notices. Not only is Marine One being paid, they are being paid very early each month. I should not be receiving collection notices at all and I should be informed of the correct date that these payments are being withdrawn.
Annette has assured me that Marine One is not reporting these "late" payments to the credit reporting agencies, however, they have made so many mistakes since the very first day this loan was signed, I am terrified that they will be reporting these as late payments to the agencies, preventing me from ever regaining my good credit rating.
Their customer service is horrible. Their business practices are horrible. I would never recommend them to anyone who needs to finance a purchase.
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