ComplaintsforBeacon Funding Corporation

• Initial Complaint

  05/17/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have a loan with this company, they been using my bank account to charge extra fees , My payment due in the 5th each month , couple months ago the change me 2 times on the 1st and the 5nd , that transaction cost me to get changed by my bank overdraft fees 6 or 7 time ,tryed to call and request to solve a problem never got help , after i called my bank and request to stop the payment, they contact me right the way they been asking for late fees cost by them I tried to speak to manger today he was throwing me to repo my equipment if I do t pay the late fees My payment is $1320/m , I invested around $20k so far ,never been late and my balance is current now, Im looking to investigate how much late fees been collected from customers since they have this company Granted,

  

  Business response

  05/23/2023

  We are writing in response to the complaint filed by D&Y Trading LLC regarding the late fees charged by Beacon Funding Corporation. We appreciate the opportunity to address their concerns and provide clarification on the matter. 
  
  As a finance company, Beacon Funding Corporation has a responsibility to ensure that all contractual obligations are met by our customers. In the case of D&Y Trading LLC, we entered a contract, which clearly outlined the terms and conditions for their agreement. This contract was mutually agreed upon by both parties, and D&Y Trading LLC acknowledged their understanding and acceptance of these terms by signing the agreement. 
  
  According to the terms of the contract, D&Y Trading LLC agreed to make monthly payments by a specified due date. Late fees were explicitly stated as a consequence for late payments, as agreed upon by both parties. It is essential to note that these late fees are a standard practice in the industry and serve as a means to encourage prompt payment and offset the administrative costs associated with handling late payments. 
  
  Regrettably, D&Y Trading LLC has had late payment activity starting in 12/22 through 04/23, resulting in the application of $841.75 in late fees as outlined in the agreement. These fees have been accurately calculated and applied in accordance with the terms and conditions stated in the contract. 
  
  We understand that D&Y Trading LLC denies their late payments; however, we have a comprehensive record of their payment history, including documented instances of late payments. We encourage D&Y Trading LLC to review their records and reconcile them with our records to address any discrepancies. 
  
  We take pride in our commitment to fair and transparent business practices. Should D&Y Trading LLC require assistance or have any concerns about their payment schedule, we are more than willing to engage in a constructive dialogue to find a solution that aligns with their financial circumstances. 
  
  In conclusion, Beacon Funding Corporation has adhered to the terms and conditions of the financing contract entered into with D&Y Trading LLC. We have applied late fees as outlined in the agreement due to their consistent late payments. We remain committed to providing quality service and addressing any valid concerns our customers may have. 
  
  Thank you for your attention to this matter. We trust that this response clarifies the situation and demonstrates our commitment to ethical business practices. Please do not hesitate to reach out to us if you require any further information or documentation. 

• Initial Complaint

  12/29/2022

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  This is in regards to incessant spam emails. I have requested they remove me from their email list, however they continually send spam emails. In this age of internet security it is not an option to click on any links contained in an email to request removal from their mailing lists, and so this is my only recourse to get them to stop. I demand they remove me immediately and permanently from all mailing lists, and DO NOT SHARE my information with anyone.

  

  Business response

  01/03/2023

  We have removed this contact and business from all future sales and marketing activity.  They should not hear from our organization again.  Thanks

  Customer response

  01/06/2023

   
  Complaint: 18657489
  
  I am rejecting this response because: They also need to permanently remove the email address: *************************
  
  Sincerely,
  
  ***********************

  

  Business response

  01/10/2023

  We have made sure ************************* is opted out of all future email marketing.  We have also opted out any email we have related to the terradesignworks.com domain.  If there are any other emails that should be included in the opt out process, please advise and we will make sure to do so.  Thanks

  Customer response

  01/12/2023

   
  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

  11/04/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  On 10/20/2022 I voluntarily surrendered a vehicle (tow truck) to finance company to relinquish my financial obligations (sole PG). The tow truck was successfully recovered from the former employee on 10/26/2022. Received a letter dated 10/27/2022 from company confirming notice of sale on 11/07/2022. On 11/01/2022 I was made aware the former employee had possession of the vehicle. Therefore, I called the finance company to confirm the ownership and financial responsibility (PG) was transferred to this individual. The recovery asset manager stated I was "only liable if the individual stole the truck or stripped the truck. It was not his idea but the sales rep complained because he did not want to lose his commission." I responded that means I am still financially responsible. I demanded the company send me confirmation the truck is no longer in my name because I submitted a voluntary surrender and the extent of my financial responsibility is the difference of the amount of the sale and the balance owed. I also explained to them I had a order of protection granted against the person they released the vehicle to. Beacon Funding has since stopped responding to my emails and taking/returning my phone calls.

  

  Business response

  11/15/2022

  Beacon Funding has agreed to accommodate our client's request.  Please understand that Beacon Funding violated no terms of its agreement with our client and made every effort to communicate effectively throughout the entire process.   Thanks

  Customer response

  11/18/2022

   
  Complaint: 18358298
  
  I am rejecting this response because: they didnt communicate the decisions that were made after the vehicle was voluntarily surrender. Instead they returned the vehicle to an individual that was not the rightful and legal owner. They have engaged in fraudulent and unethical business practices. If they believed they didnt violate any terms they wouldnt have provided me a letter releasing me from all liability regarding the vehicle. However, the case can be closed because I was given a letter releasing as personal guarantor. 
  
  Sincerely,
  
  *****************************

• Initial Complaint

  09/19/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Our company financed a truck through Beacon funding. A 2015 **** F550. The contract BFC10983-01 Was paid off. We have been trying to get the title for the vehicle. My company went to the local title bureau in ****. We were told that Beacon Funding applied for a new title in 2020. New title number **********. They told us that the new title is still in the name of beacon funding. They have not cancelled the lein. We contacted the company Friday, September 16, 2022. We spoke with **********************, he told us, our security deposit is there at the company, $5983.32. and he will work on getting us the title. He verified the address where to send the title. He responded, we will mail it out Today, September 19, 2022. We were told, the title was sent out a while ago. They sent out a replacement copy of the title. If we didnt receive them. we need to pay a fee of $50.00. To have another one sent out. We didnt receive any information when any title, was previously sent out. We have been asking for this title since February 2022. I have attached the email stream. The vehicle has been paid off, we entered into another finance agreement with Beacon Funding for a different vehicle. In 2020. In February 2022. we were told by ***************************, the rep over the new account. Since you have late fees due, on the new account (BFC10983-04) the company will not send out the title to account BFC10983-01. That is paid in full. Until you pay the late fees on the new account (BFC10983-04).We are asking the BBB, for help in getting our title. For the 2015 **** F550 *****************. Thank you.

  

  Business response

  09/22/2022

  In this complaint, the customer indicates they cannot get the title on the truck they financed with Beacon Funding.  Beacon Funding SENT THIS TRUCK TITLE TO THE CUSTOMER  OVER TWO (2) YEARS AGO.  See attached ***** confirmation.

   

  We are contacting the customer again to assist them in obtaining their title on this truck.  

• Initial Complaint

  04/13/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I called beacon requesting a payoff I wired the money I asked about my security money that I left for two trucks that were payed off early that total out to be a total of eight thousand dollars and they told me that was included in the payoff amount I stated why didnt they tell me that before I wired over the hundred and twenty thousand dollars

  

  Business response

  05/06/2022

  This customer defaulted on their financing obligation with Beacon Funding.  Our collection team worked with this client to settle on a solution in which Beacon Funding accepted a payoff that was $11,152.14 less than what was owed to us by the customer.   This discounted settlement demonstrates Beacon Funding's goodwill with this client in attempting to find a solution for both their business and our business.

   

  The customer's specific complaint about ********************************************* not communicating that the Security Deposit was included in his payoff amount is incorrect.  Beacon Funding conducts all collection calls on recorded lines.  As a result, we have recorded conversations in which our collection agent clearly communicates to this client that the Security Deposit was, in fact, included in his payoff amount.  Further, we have email correspondence that further supports the fact the Beacon Funding clearly communicated that the Security Deposit was included in the payoff amount.  Recorded calls and emails related to this topic can be shared with BBB upon request.

  As result, this is an inaccurate/invalid BBB complaint and we believe it should be removed from Beacon Funding BBB complaint record.  

*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. ↩