This a simple interest account, which means that interest accrues daily. The Contract payment schedule stated 72 monthly payments of $195.92 beginning May 4, 2021. On March 20, 2021, ******* signed a Retail Installment Contract (Contract) for the purchase of a vehicle. Exeters success is based on customer satisfaction with our products and services, so the issues presented in this complaint are taken seriously and every effort is made to provide a prompt and equitable response. To Whom It May ****************** June 26, 2023, Exeter Finance LLC (Exeter)received notice regarding a complaint filed through the Better Business Bureau.Exeter would like to thank *************************** (*******) for the opportunity to address the concerns outlined in the complaint. Monthly payment, then immediately after made an additional payment for 55$ principal only.īetter Business Bureau of Metropolitan **********. I messaged them online and they said per my contract it's a intrest contract so any payments are applied to the monthly payment first then principal and then any fees in that order. It has been almost 2 weeks and still hasn't been done. They submitted a request for it to be applied to principal and said I should see it on my account in a few days. I have called and complained and they agreed with me that it should have indeed gone to principal. I later get a statement showing the 55$ payment was applied to intrest instead. She stated that was how it works so I went ahead and processed a 55$ principal payment over the phone. So I made my monthly payment online and then immediately called in my second payment and specifically said I want the addition 55$ to go towards my principal balance. I was told by a representative on the phone that if I made my monthly payment and then immediately processed a second payment that the second payment would be applied to my principal loan balance only. If ******* has any questions about these or any other concerns,Exeter encourages them to contact the Office of the President at ************. We trust this answers any questions associated with the complaint. Please allow 30 to 45 days for the CRAs to update the information on your credit file. On July 18, 2023, an update was furnished to the CRAs to remove the late marks previously reported. Regarding your credit reporting, Exeter is bound by the Fair Credit Reporting Act which requires all accounts to be reported accurately and factually to the ************************* (CRAs).Exeters records were reviewed, and it was determined that an update to your credit report was necessary. to finance the purchase of a 2016 *** 3-Series, (VIN# *****************) (Vehicle) which was assigned to Exeter. On June 29, 2022, you signed for the Account established by the Retail Installment Sale Contract Simple Finance Charge (with Arbitration Provision) (Contract) you executed with ************ Corp. To Whom It May ****************** July 11, 2023, Exeter Finance LLC (Exeter)received notice regarding a complaint filed through the Better Business Bureau.Exeter would like to thank *************************** (*******) for the opportunity to address the concerns outlined in the complaint. Better Business Bureau of Metropolitan ***********.
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