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Complaint Details
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Initial Complaint
04/03/2023
- Complaint Type:
- Billing Issues
- Status:
- Resolved
I just received a call from cig financial representative threaten that they will report my late payment as a late payment charge to the credit bureau (he stated that I'm 9 days past due)Are they lawfully can report a 9 days late payment as 'late payment to bureau?Thanks for your attention
Business response
04/07/2023
Consumers complaint is questioning how we report late payments to the three major credit bureaus. CIG Financial reports at the end of the month for that months activities. If an account is over 30 days delinquent, it will be reported. Our representatives do make phone calls to remind our customers when a payment is overdue and inform our customers of the potential risks when a payment is not made in time. CIG Financial apologizes if the information was not communicated correctly to consumer..Customer response
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 would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
*******************
Initial Complaint
01/03/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
After being told many times since October ************************************************** help they resume to charge my account after being told no. They contacted me on the phone and by text message and both times have been told no I do not want their service and not to charge my card. They resumed to do what they wanted and did it anyway. They were told I was on Social Security and could not afford this after being told how much it was several times. They were rude several times on the phone and when I called to tell them to refund my money they told me too bad that they already did the work and that they were getting paid for it no matter how I felt about it. My husband and I recorded the conversation and they hung up on me when they were told that the conversation was being recorded. All I asked for was my card to be refunded the money that they charged it when I told them at the very beginning in October that I could not afford their services and they resumed to go ahead and do it anyway.Business response
01/04/2023
************** claims that CIG Financial provided unwanted service and charged her for it. CIG Financial finances automobiles purchased from dealerships and services the accounts. We do not show ************** as one of our customers. CIG Financial believes that this complaint may have been directed at the wrong company.Initial Complaint
12/20/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
They have my information but still yet called someone else who is not on my contract or even a contact person and left personal business about my account on their voicemail.Business response
12/20/2022
Consumer states that CIG Financial called a reference that is not listed on her contact information instead of calling consumer. CIG Financial has done its due diligence in reviewing this account and finds that the last time we spoke to consumer was on 10/31/22.
In an effort to help remind consumer of their payments that is past due and/or to set up payment arrangements; we have made multiple phone calls to consumer, as well as sending texts and emails. However, our attempts were unsuccessful to communicate with consumer. On December 19, 2022, we called 3 references that consumer had provided to us at time of credit application. We left messages for the three contacts called; however, we did not reference any of consumers personal information or information regarding consumers account in these messages.
We understand that consumer may not want their references to be contacted. Therefore, we have made a note in our system to not contact consumers references in the future.Customer response
12/20/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
*****************************
Initial Complaint
12/08/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
Yesterday I called to apply for a home loan and used my bank card to pay the $20 fee. I gave them quite a bit of personal info regarding income. They kept pushing me to pay another fee of $185 and I said I was not comfortable and then knew something wasnt right. I hung up the phone and told the company i wanted to cancel my membership. The next day today Dec 8. They withdrew from an arm in another state $185 out of a seperate venmo account. The card I paid the $20 fee with was associated with that account and they somehow got a hold of my information because they never took my card. I still have my Venmo card but they were able to take money out of an ATM in another state out of it. I want to report fraud for this company!! I am also scared. They are going to take more of my money because of the information I had given them.Business response
12/14/2022
Consumer claims that she used a bank card to apply for a home loan and subsequently money was taken out of her account. CIG Financial does not fund or approve home loans. CIG Financial finances automobiles purchased from dealerships in addition to servicing only auto loans. We also do not show consumer to be one of our customers. CIG Financial feels that this complaint may have been directed at the wrong company.Initial Complaint
11/27/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
I was told this company CIG was a company that would help me get a home on a option to buy. Or a lease option to buy. I found out it just helps you get your credit cleaned up. I don't need that I have a good to very good credit score. I need help getting a home. This way to expensive . ****** a month for 5 months. I need this cancelled immediately. I was scammed and lied too. Please call at ************. Sincerely ********************************Business response
11/29/2022
********************** claims that he was told that CIG Financial can help him get a home, and also claims that CIG Financial is a credit clean up company. CIG Financial is neither of these claims. CIG Financial finances automobiles purchased from dealerships. In addition, we do not show ********************* to be one of our customers. CIG Financial feels that this complaint may have been directed at the wrong company.Initial Complaint
10/20/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
On 9/22 I made a payment to CIG iao ****** and the payment was only applied as interest only as well as my payment on 8/12 iao ****** and the agents and managers keep hanging up in my face. My payments are being applied wrong and NOTHING is going to my principle after I requested a due date change in June on the 20th. They are saying its because of my DSI loan but even if I made late payment before the deferral and due date change I would be able to see what was being applied to principle and what was being applied to interest now its nothing going to my principle at allBusiness response
10/25/2022
Consumer is accurate that the last three payments made, were applied towards interest and not her principal. Daily Simple Interest loans works by accruing interests, from payment to payment. When payments are made on time, depending on the interest rate, a portion goes towards interest, and the other portion of payment reduces the principal balance. As shown on consumers payment history that consumer provided, consumer made a payment on 4/15/22, but did not make another payment until 6/30/22. That is 76 days worth of unpaid interest. Therefore, payment made on 6/30/22, is catching up on 76 days of unpaid interest. Consumer, thereafter, did not make another payment until 8/12/22. That is 43 days worth of unpaid interest. This is the reason why consumers last three payments were applied to interest only and not towards principal.Initial Complaint
07/11/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
I made a principal payment of $2500 on 2/25, and since that payment every payment I have made up until 6/21, had $0 applied towards the principal of this loan, so they in essence have charged me $1,139.72 in interest only payments with the exception of my June payment, they applied $70.30. How is this legal? My interest rate is *****% with a daily interest of $2.32, which doesn't come close to adding up to the interest I have been charged. I am certain there are lending laws that prevent such a practice and I will find out what they are and *** for resolution if I must.Business response
07/13/2022
Consumer made a payment of $2,500 on 2/25/21 to decrease his principal balance. Consumer then did not make any payments until 1/12/2022.Being that this auto loan is a daily interest loan, and no payments were made close to a year, the three payments consumer made on 1/12/22, 3/2/22, and 4/26/22,were all applied to interest. Simple interest loans, accrue interests daily.Therefore, with 11 months of non-payment, interests accrued, and payments received must be applied to the interest in the loan. Even though consumer was current on his account; because he did not make a single payment for 11 months,the three payments he made thereafter were applied to his interest.Initial Complaint
06/21/2022
- Complaint Type:
- Product Issues
- Status:
- Resolved
This is the worst company to offer auto financing. Ive paid the vehicle off and they are taking forever to update the vehicle as paid off and process my check! They also wont e-file my title paperwork in a reasonable time frame! Everybody I talk to lies and the management are bigger crooks and liars then the customer service reps!Business response
06/24/2022
Consumers complaint implies that the account has been paid off for quite a while. However, CIG Financial only received a check in the amount of $25,730.65 which was applied to the account on 6/13/2022. However,this check was not enough to pay off the loan. CIG Financial just received another check three days ago on 6/21/2022 in the amount of $626.34 to payoff the loan in full. This account is now paid in full and title is scheduled to be released on July 7th,2022.Initial Complaint
03/15/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Resolved
This is a follow-up to complaint number ID#: ******** I continue to be harassed by their call center. I have told them COUNTLESS times that I am not the customer they're looking for and have NEVER financed anything through them. I have been quite rude, to be honest. Yet, they still harass me.Business response
03/17/2022
CIG Financial apologizes for the phone call made to ********************* and have blocked his number in our system. Our last attempt at blocking Mr. ********** number from our system was made, but due to technical error, the number repopulated. We have blocked this number again and have measures in place to bypass this error. We have also taken extra steps internally to make sure ********************** will no longer be contacted by our representatives; Once again, we apologize for the inconvenience.Customer response
03/17/2022
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
*************************************
Initial Complaint
02/20/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
I had defaulted back and on a loan in 2015 ************ is falsely reporting on my credit reports that I have missed payments in 2019 Further damaging my creditBusiness response
02/22/2022
Consumer is disputing that CIG Financial had reported his default in 2019 to the credit bureaus. However, our records shows that consumer has been making multiple disputes to the credit bureaus and in turn, requires for CIG Financial to respond to his disputes. Consumers account with CIG Financial is still showing charge off with a balance still due and owing. If consumer will like to resolve this on his credit reporting, CIG Financial recommends he contact our Loss ************* at ************
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61 total complaints in the last 3 years.
26 complaints closed in the last 12 months.