Loan # 8087133396. I n May 15 I was a co-signer of a friend, Mr. Iglesias, for him to buy a house in Hialeah, Florida, the loan was opened with Equicredit.
Five months latter, my friend got laid off as a result of the crisis from 9/11. We asked this company for an extension, but they never approved it, payments were sent late only two times.
Their representative July, promissed us that they won't report that to the credit agencies for the special situattion after 9/11 and because we were also waiting for their desition about the extension.
They just lied, it was even worse, they reported the payments late, even since the loan was originated in May it is showing 60 days past due, so the rest of the months for 30 days past due during 11 consecutive months. We remember even when payments were sent early on time, they used to call asking for it.
Later on April our loan changed to FairBanks, we had the hope that this will be for good, but it was the same mess, they used to call asking for payments that were already sent, we paid electronic fees to make the payments faster and they were posting it in their records as late received.
They charged a lot of late payments, they put our payments in suspenses account, and they reported to the credit agencies, 7 consecutives months showing 60 days and 30 days past due. My credit score felt down and I have 31% delinquint payments. If all of this were true, they will reposesed the property for sure.
We refinanced the house with another bank, to get away from this unprofessional company, we did it in March.
I called to Fair Banks representatives at The Loan Sevicing Center and they said the payments were received on time as per their records except for August. So why my credit report is showing 7 months late and their records are different?
I sent them a complaint letter and they opened an investigation. As a result of their audit, they sent us a check to refund
$ 1456.45 which they call it - Refunded an unclaimed amount from funds collected to pay for services expected to be rendered by third party vendors-???
Therefore they sent me a letter and the answer was, that what they have reported to the credit agencies is correctly.???
I sent a new letter because I do not agree with their answer, I just want my credit fixed, we just want our credit reports showing the true.
Is really frustrating that a Company like this still been doing all this kind of mistakes, and victimized their consumers.
Thanks for let me do this report, I feel better to know that probably someone could help me.
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