Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:22/08/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Three years ago we used Financeit to finance a loan amount for windows for our come. Recently this ‘agreement’ which we have not consented to renewed at a significantly higher rate that effectively doubles our payment with limited notice. We attempted to resolve the issue by requesting a manager call us, which staff committed to us would happen this past Monday. We have yet to receive a call. This an ************ *** non-competitive rate (from 3% to 13%). I highly caution anyone from using this company if your loan will take longer than three years to pay off. We will also be complaining to Consumer Protection BC.

  Business Response

  Date: 28/08/2023

  This borrower entered into a loan agreement with FinanceIt Canada Inc. (“Financeit”) in 2020 further to goods and services the borrower purchased from a dealer. That dealer had been able to offer the borrower a lower promotional interest rate which was valid for the loan's initial three-year term. The length of the initial term, renewal date, amortization period, and cost of borrowing were disclosed to the borrower in the loan agreement provided upon signing.
  
  The initial term recently expired and loan renewal disclosure was provided to the borrower at prevailing interest rates. Financeit remains open to discussing possible solutions with the customer and will continue to reach-out in an attempt to come to an agreement.

• Initial Complaint

  Date:05/07/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  on May 2022 i was ******* ** * ***** company named CJR flooring into a loan from Financeit for 33,949.00,not realizing it was that much and a 20year loan,the details were for an 8year old furnace and air conditioner units (,also blownin insulation ,air sealing,home HEPA filter,UV light air purifier,all which i never received} on Oct 5 ,2022 i sent an affidavit in *** *****,and it took 8 months for them to investigate it and deemed the loan authentic,so i am stuck with a 20year loan, ********* ***** ******** ********** **** ********* *** * * ***** **** *** **** ** *** ***** ****!!

  Business Response

  Date: 30/08/2023

  Hello ******,

  Please be advised that the funds were released to the merchant based on the fact that all documents were in order including a signed loan agreement.  In addition to this, we spoke with you over the phone before releasing the funds to ensure that all work was completed to your satisfaction and to go over the details of your loan to ensure you understood. If you have issues or concerns with any of the products or services received, you will have to reach out to the merchant directly to raise these concerns.  If you have any other questions please do not hesitate to reach out and ask to the speak with the Manager, Customer Success.

  Customer Answer

  Date: 03/09/2023

  
  Complaint: ********
  
  I am rejecting this response because: they tell me to reach out to the merchant, but the merchant does not exist
  
  Sincerely,
  
  **** ******

  Business Response

  Date: 14/09/2023

  As stated previously the funds were released to the merchant based on the fact that all documents were in order including a signed loan agreement.  In addition to this, we spoke with you over the phone before releasing the funds to ensure that all work was completed to your satisfaction and to go over the details of your loan to ensure you understood. As a third party lender we are not responsible for any product disputes and always refer our clients back to our partners. We do encourage you to continue and try to contact *** ******** *** 

• Initial Complaint

  Date:01/05/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  A lean was added to ******** *****/my mother's house by Financeit in 2022 for some sort of work that was completed. I am her Power of Attorney and when I tried to inquire about what work was completed, Financeit would not provide me with this information. I am asking for an itemized list of the work completed, hourly rates for labour as well as any materials that were involved. The loan number involved is *******. What I have received is the collateral description which is untrue and also seems astronomically expensive for what they are stating has been completed. I am not sure that any of this has been completed at *** ******** ******* ******** ******** *** ***. The current gas water heater is a rental from Reliance which she pays for monthly. This payment still continues to date. They are stating that they installed a ***** Performance 40 Gallon Water Heater. I am asking for your assistance in getting to the bottom of what transpired with this loan. Please contact me and I will send you the details via email for the loan documents. Thank you for looking into this matter. ******* ****** Power of Attorney for ******** *****

  Business Response

  Date: 05/06/2023

  Financeit is a lender; we are not a provider of home improvement products or services. We have provided you with all the information and documents we have - which all have to do with the loan. We strongly recommend you reach out to the merchant to resolve your concerns, and we will have one of our agents call you with that contact information if necessary

• Initial Complaint

  Date:26/04/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  In 2018 I purchased a camper with financing through Financeit. The original interest rate at time of contract was 7.99%. I received a renewal notice dated March 14th with and interest rate of 10.96%, then another letter dated March 30th with 11.96%. I received both letters in the mail in April and had not signed any new agreement, and would never agree to these terms. I have called them twice and each time the person on the phone says they cannot do anything and when I ask to speak to a manager, they tell me no managers are available and someone will call me back. I want my original interest rate that I agreed on and signed. I did not agree, sign, or have time to even review this new renewal and respond accordingly. **** ** ******** ******** ***. They have already taken money out of my account with this new amount. If you need a loan, do NOT use this ***** company.

  Business Response

  Date: 05/06/2023

  There are multiple factors that can influence the interest rate when the term of the loan agreement  is renewed and the amortization and terms of our agreements are always outlined clearly in our communications.  Mrs. ***** got the interest of 7.99% for the duration of the terms in our loan agreement. Mrs. *****'s loan was renewed April 9th 2023 at 10.99% a communication was sent March 30th via mail. We did send notification through the mail regarding the renewals and as mentioned due to the remote location of Mrs. ***** communication took some time to arrive. We have since spoken to Mrs. ***** to ensure she would also get electronic communication.  A manager will also contact Mrs. ***** in a reasonable delay to discuss the situation further as she requested

• Initial Complaint

  Date:23/03/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I paid off total loan, march 15/ 2923, wanted to change mortgage brokers for a better rate… lawyer stated their is a lien on your home… and told us who… we weren’t even aware but loan had been paid… called Financit… young gentleman basically laughed at me.. told me 4-8 weeks… is there anything else I can do for you… I’m told 510 business days… I want them to release the lien on my house!!! I paid them…on time everytime… this needs to be addressed… how can someone hold a lien for over 2 months on your property just because…. If the want to refund me payments plus interest for this time I’d be ok….

  Business Response

  Date: 05/06/2023

  There are multiple factors that can influence the interest rate when the term of the loan agreement  is renewed and the amortization and terms of our agreements are always outlined clearly in our communications.  Mrs. ***** got the interest of 7.99% for the duration of the term in our loan agreement. Mrs. *****'s loan was renewed April 9th 2023 at 10.99% interest. We did send notification through the mail on March 14th and March 30th regarding the renewals and as mentioned due to the remote location of Mrs. ***** communication took some time to arrive. We have since spoken to Mrs. ***** to ensure she would also get electronic communication.  A manager will also contact Mrs. ***** in a reasonable delay to discuss the situation further as she requested

  Business Response

  Date: 04/07/2023

  Tell us why here...We requested the lien release promptly upon receiving full payment. There are sometimes delays with the registrar's from the time the lien is requested to be released and receiving the actual release of the lien.  We also reviewed the call recording and feel professional standards were met and will provide any additional training or coaching necessary. An agent did contact Mr. ***** to ensure he had received his release and discussed the situation. 

  Customer Answer

  Date: 04/07/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********* and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  **** *****

• Initial Complaint

  Date:08/03/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  March of 2020 approached by a window contractor, chose to redo all my windows, (not the issue). All fine and dandy, job complete, in discussions with the salesman we were assured that we could discuss the payment plan with the lenders. Never received a correspondence regarding the details, just a list of demands regarding monthly payment. Finally after almost three years of attempting to contact them I was able to reach someone, no name given, who assured me that this was the only way to do this. Unacceptable and I want a resolution as this is an extremely predatory loan, (no missed payments I might add) and the creditors seem tone deaf as the world falls apart around them. I'm not attempting to not pay but I want a more favorable loan structure.

  Customer Answer

  Date: 20/03/2023

  Company explained that the loan is open. Sadly it took three years. Complaint is not able to be satisfied anymore. Thank you

• Initial Complaint

  Date:23/02/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Made a deal to settle the account and was offered a “discount of 25% as an act of goodwill” Which I have in writing from one of their employees and now they have marked my account with a missed payment and have not closed the account I’m assuming to further damage my credit. The company they had worked with misled us in the first place and I had reported issues multiple times about the issues and that is I thought why they offered the discount when I found out we had a longer loan than expected. This is I believe the third time I had to contact them about not fixing the issue in a month. Some of the customer service agents seem to be understanding but nothing is being fixed and I just want this finished!

  Customer Answer

  Date: 07/03/2023

  Hi there I got a msg from the BBB about my complaint about Finance it, they did reach out by email and supplied some paperwork to prove they had settled my account but never discussed the issue with me. I am happy enough that I got that information but I do still feel that the company is being slightly fishy as something that should have taken a week max took at least a month, I think maybe more.
  
  ******* *****

• Initial Complaint

  Date:11/11/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My interest was raised from 1.99% to 13.99%. I was offered a different structure based on financial hardships at 0%. And then it disappeared. I have been ignored via email and phone by the representative whom offered me this restructuring. I spoke with a manager, whom refused to negotiate beyond 10%. Which ultimately disappeared as well, which you will see in the uploaded picture. They have always been aware my income comes from CPP disability. They are, and were aware of this, when they offered me the loan. By default this also means they are aware I cannot financially handle such an increase. I tried desperately to negotiate a resolution where I could continue to pay my loan. I was refused. I was told that I have always made my payments and I am in good standing and therefore I do not qualify. But let’s not forget this was after I was offered a restructured amount, I agreed I signed the papers sent it in and it was basically thrown in the trash. It seemed more like a ******** ***** joke than anything. I have had to issue a stop payment, much to my very own disgust. I do not want to default this loan, unfortunately I am being left with absolutely no other choice. This will show on my credit report very soon. I need help. * **** **** **** ** **** ** ** ********* ** ***** ******* I just wanted to keep paying my loan. After everything they put me through I want to 0% now. I only asked for it to stay the same. Or to not jump so high but to stay within something I could afford. They were not nice.

  Business Response

  Date: 24/01/2023

  Thank you for the opportunity to respond. 
  

  This borrower entered into a loan agreement with FinanceIt Canada Inc. (“Financeit”) in 2019 further to goods and services the borrower purchased from a dealer. That dealer had been able to offer the borrower with a lower promotional interest rate which was valid for the loan's initial three-year term. The length of the initial term, renewal date, amortization period, and cost of borrowing were disclosed to the borrower in the loan agreement provided upon signing.
  

  The initial term recently expired and loan renewal disclosure was provided to the borrower at prevailing interest rates.  Financeit has corresponded with the borrower and offered alternative solutions (including a partial loan payment deferral). The borrower has declined these proposals. Financeit remains open to discussing possible solutions with the customer and will continue to reach-out in an attempt to come to an agreement.

  Customer Answer

  Date: 27/01/2023

  
  Complaint: ********
  
  I am rejecting this response because: the offer was for two partial payments over Christmas that were only deferred to the upcoming payments. They have in no way made any type of effort of meeting on a ground that is possible. Like the offer that they did give me then withdrew. 
  When this contract was entered into, they were fully aware that I am on a disability pension, and approved me for this loan, knowing my income was fixed. ** ********* ***** *** **** ****** *** ********** ****** ** ********. To offer me a financial hardship rate only to withdraw it and return to the known unattainable amount says a lot about their business practice. * **** **** ****** ** ***** ******** ************** They continue to “loose/drop” the call every time I’ve answered their call. They offered me the contact under the terms of my income, just as I did. 
  
  Sincerely,
  
  ******* ******

  Business Response

  Date: 30/01/2023

  We feel we have done everything possible to help this customer. Our contract terms and conditions are clear from the onset and if the customer is able to obtain better financing this loan does not have a prepayment penalty and may pay it out at any time.