ComplaintsforCredova Financial LLC

• Initial Complaint

  07/11/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I recently financed a dog not even a month ago on June 17,2024 at ******* the workers there spoke really fast and said a bunch of lies I have been told almost 4 different prices for this dog and i dont want him anymore due to this misleading information but im willing to pay half of the price he actually is because hes actually $2672.50 but i was told i owed 3558 or 4558 and im not paying 3558 when the dog is originally 2672 so i dont know what will happen but the unprofessional and misleading information is unacceptable and im not settling to pay 3558.

  Business response

  07/19/2024

  Dear India,
  We appreciate you using Credova as your finance option.Credova seeks to abide by BBBs best practices pertaining to dispute resolution and try to address each concern in customer complaints. We acknowledge your experience and accept this as an opportunity to expand in detail on the amounts stated in your complaint, the terms of your agreement and options available to you.
  As provided on the receipt, the cost of the dog was $2,672.50. Four additional items totaling $530.97 were also included with your purchase, bringing the total for the items purchased to $3,293.48, before taxes. The total amount due to the retailer was $3,614.58, which included $321.10 of combined state, county, and city sales tax for *******, ********* at a rate of 9.75%.
  You applied for financing with Credova and were approved for financing with Credova in an amount of $3,500. Before agreeing to use Credova to finance your purchase, you were given specific terms and disclosures that are generated for you to ensure you have full and complete information about the costs of using Credova to finance any purchases. The terms of your financing are provided both during the application process, and on pages 2-3 of your contract, which is available to review prior to signing. Our application process requires a customer to review the Truth in Lending Disclosures and check a box agreeing that you have read these terms in the agreement, the refund policy of the specific merchant, and the credit score disclosures. Among other information, these disclosures accurately set forth your APR and the total amount you will pay in financing charges, should you make all payments as scheduled. You are unable to agree and sign your contract without the above actions being completed and reviewing the disclosures provided. Your contract was emailed on 6/17/2024 to the email address we have on file.
  Our records indicate that after receiving and reviewing your contract and disclosures, you decided to use Credova to finance $3,500 of your purchase, signed your agreement, paid the remaining $114.58 via debit card to the retailer, and received the items you purchased on June 16, 2024.
  Following your purchase, Credova understands that you spoke to Monterey Financial, our third-party servicer, on 7/11/2024. During that conversation with our servicer, you were quoted a payoff amount that was greater than the amount you financed. Due to daily accrual of interest, the representatives quoted payoff amount was accurate. As is set forth in your contract, you always have the option to pay off your contract early without any prepayment penalties. This option would help you to save on future interest that is accruing.
  In this instance, Credova only offered a method of financing your purchase, and the company fully and accurately disclosed to you the cost of that financing. We abide by our merchants return policy. Should you wish to dispute any items on your receipt, we ask that you please contact the merchant with whom the purchase was made. Should the merchant wish to accept a return or change the invoice amount, we would gladly help facilitate making those changes to your account.
  If you have any additional questions regarding your account,please reach out to our customer support team that is available 6AM to 6PM PST,7 days a week, reachable at ************.
   Sincerely,
   Credova Financial,LLC

• Initial Complaint

  07/04/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Unfair business practice. Misleading information

  Business response

  07/12/2024

  Dear *******,
  Credova seeks to abide by BBBs best practices pertaining to dispute resolution and try to address each concern in customer complaints. Without more detailed information, we are attempting to address what we believe is your concern.
  Our records indicate you signed a contract with Credova on 7/3/2024. That same day, a return notification was submitted by the merchant due items being out of stock, and the contract was canceled. Prior to the return being submitted, it appears you attempted to apply for a new approval and Credova does not allow multiple contracts at once which led to a decline notification. That decision remains in effect for 30 days from the point at which you were last given a credit decision. Your last application was placed on 07/05, so you may reapply on 08/06 for a new credit decision.
  We appreciate your feedback as we are always looking for ways to improve our customer experience. Should you have any further questions,or if we did not address your concern, we kindly ask that you reach our customer support team that is available 6AM to 6PM PST, 7 days a week, reachable at ************.
  Sincerely,
  Credova Financial, LLC
  

• Initial Complaint

  06/06/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I applied fir credit, everything on.my creditvreport is 100% paid on time, I pay my bills.I was denied mostly because they do not like giving credit to disabled Veterans that get thier income from VA disability.They tried to say it was that they like my bank, I've been with my bank 15 plus years.

  Business response

  06/12/2024

  Dear *****,
  We appreciate your interest in using Credova. Our records indicate your most recent application for credit was on 4/27/2024. That same day an adverse action notice and credit score disclosure was sent to the email address on file. At no point during the application process did we receive information regarding your financial institution. Unfortunately, your application was not approved due to not meeting our underwriting criteria. For more detailed information, please review your adverse action notice sent on 4/27/2024.
  Sincerely,
  Credova Financial, LLC
  

• Initial Complaint

  06/04/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  They claim no early payoff penalty but they most definitely just word it in a different way. I financed $2,500 90 days ago, made $400 in payments. Called today to ask payoff and it is $3,600. After being upset about the situation and calming down (making sure not to take it out on the customer service rep), I explained I was misinformed. I offered to settle the balance for $3,000 which even that is ridiculous but I wanted to get rid of the debt to which I was told "We won't be able to do this." They continued to tell me about all the wonderful discounts they were giving me by offering me $3,600 as a payoff. Don't be misled. They will reword everything to make it seem like you're getting a great deal and do whatever they can to milk you for every dollar you have. Buyer beware.

  Business response

  06/11/2024

  Dear *****,
  Thank you for choosing Credova as your financing option. Our records indicate you signed a product lease agreement on 3/6/2024. The terms of your financing are presented both during the application process, and on pages 2-3 of your contract, which is available to review prior to signing. Our application process requires a customer to scroll through our Truth in Leasing Disclosures and check a box agreeing that you have read these terms in the agreement, the refund policy of the specific merchant, and the Credit Score Disclosures. You are unable to agree and sign your contract without the above actions being completed. This happens prior to checkout and an order being placed. Credova follows all consumer laws and regulations. We aim to be transparent and educate our customers on their approval details prior to contract signing.
   Your contract did include a 30-Day Satisfaction Guarantee Buyout (SGB) option. This option allows you to pay the fair market value of the product within 30 days to satisfy your lease. Your SGB option expired on 4/5/2024. Your contract also includes an Early Purchase Option (***) that is still available to you. The *** is the sum of (i) past due payments, (ii) unpaid taxes and fees, and (iii) an amount equal to 75% of all remaining payments not yet due. There is no penalty for exercising your ***.  If you would like to view your *** payoff amount, please login into your account at www.montereyfinancial.com and click on account information. You can also request your *** over the phone by calling our third-party servicer, Monterey Financial, directly at **************.
   We are sorry to hear you are not satisfied with your agreement. Should you have any further questions, or we can assist you in any way, please reach out to our customer support team that is available 6AM to 6PM PST, 7 days a week, reachable at ************.
   Sincerely,
   Credova Financial, LLC

• Initial Complaint

  06/03/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I financed a gun through tombstone tactical and used credova/Monterey financial. They advertised 30 days same as as cash. On the 40th day I called to payoff the loan and they charged an extra 1000 USD as a "lease fee" this is unethical and a terrible thing to do to somebody. To have a $1000 dollar hidden fee.

  Business response

  06/04/2024

  Dear *****,
  Thank you for choosing Credova as your financing option. Our records indicate you signed a product lease agreement on 4/22/2024. The terms of your financing are presented both during the application process, and on pages 2-3 of your contract, which is available to review prior to signing. Our application process requires a customer to scroll through our Truth in Leasing Disclosures and check a box agreeing that you have read these terms in the agreement, the refund policy of the specific merchant, and the Credit Score Disclosures. You are unable to agree and sign your contract without the above actions being completed. This happens prior to checkout and an order being placed. Credova follows all consumer laws and regulations. There are no hidden fees as we aim to be transparent and educate our customers on their approval details prior to contract signing.
  
   Your contract did include a 30-Day Satisfaction Guarantee Buyout (SGB)option. This option allows you to pay the fair market value of the product within 30 days to satisfy your lease. Your SGB option expired on 5/22/2024.Your contract also includes an Early Purchase Option (***) that is still available to you. The *** is the sum of (i) past due payments, (ii) unpaid taxes and fees, and (iii) an amount equal to 75% of all remaining payments not yet due. If you would like to view your *** payoff amount, please login into your account at www.montereyfinancial.com and click on account information. You can also request your *** over the phone by calling our third-party servicer,Monterey Financial, directly at **************.
  
   We are sorry to hear you are not satisfied with your agreement. Should you have any further questions, or we can assist you in any way, please reach out to our customer support team that is available 6AM to 6PM PST, 7 days a week, reachable at ************.
   Sincerely,
   Credova Financial, LLC
  
  

• Initial Complaint

  05/28/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I received a debt collection letter from ********************************** for collecting a debt incurred with Credova Financial, LLC. I do not know who or what this company is. I have never heard of this company and do not have any debt with this company . This is not my debt.

  Business response

  06/04/2024

  Dear *****,
  We received your complaint about a debt not owed. Our records indicate you opened an account with ********************** on 8/15/2021. During the application process, we requested a picture of your ID and a voided check, which you were able to provide. Additionally, the purchased items required ID verification for pick up. The account history shows five payments were made on the account, with the last payment processing on 2/15/2022. Unfortunately, due to delinquency, your account is now with ********************* & Associates, a debt collection agency. We advise reaching out to the company that holds your account for more information. ********************* &Associates can be reached at **************.
  Sincerely,
  Credova Financial, LLC

• Initial Complaint

  05/17/2024

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  I attempted to place an order on MidwayUSAs website using CREDOVA pay for the item. I went through the application and was approved however I received an error message when submitting the order. Midway shows no order placed but somehow Credova says I have a contract online but over the phone they said they dont see anything. I contacted Credova and here is all I can fit in from our talk.Chat transcript Name: ************************* E-mail: *********************** avatarMayFri, 17 May 2024 09:44:35 CDT Hello. How may I help you?****** Leland09:45 Application ********** had an error and the order was never placed with MidwayUSA. I then used my own debit card and paid for it. Please cancel my contract avatarMay09:46 Hello! ?? Let me find that out for you.avatarMay09:47 What you will need to do is contact the retailer have them cancel the contract. Once they cancel the contract they will send that information over to us and we will get it cancelled in our system.****** Leland09:48 My name is ************************* my account number is ********** my email address is ***********************. Application ********** had an error and the order was never placed with MidwayUSA. I then used my own debit card and paid for it. Please cancel my contract ****** Leland09:49 There is no order placed with MidwayUSA on the order history tab. Ive already contacted them avatarMay09:50 No worries about it, your retailer can definitely cancel out the contract for you, once the request is made you would not pay for anything avatarMay09:50 all you have to do for now is contact your retailer to have them cancel out your contract on their end ****** Leland09:51 The retailer order they already informed me there were a no contract on their end. Im not sure how many other ways I can explain that avatarMay09:52 As per checking on our end there is a contract, can you please tell your retailer to contact us we will help them cancel out your contract ****** Leland09:54 This is the main reason why I will be contacting the BBB. Im informing you *** already contacted them and they said its no order placed nor is a a contract because the error I received prevented that. Thats why you cant see the item details because the order was never placed avatarMay09:57 I'm so sorry about that, can you please send a screenshot to ******************************* of your conversation with the retailer so that we will be the one to contact them please ****** Leland09:57 It was a telephone call maam I cant screenshot that avatarMay09:58 Alright! Can you have them contact us please ****** Leland09:58 so you want me to call them and tell them to call you. Just wonderful customer service.****** *********** ive expressed that I want an order cancelled. Contacted the retailer to cancel and they say its nothing they can see. Now you tell me to have them call you. Nothing will ever ship because no order was placed so youll be charging me for merchandise Ill never receive. Please cancel my order and contract avatarMay10:02 I apologize, I will have our supervisor give them a call avatarMay10:03 one moment please ****** Leland10:03 Ok avatarMay10:04 Perfect! I have already informed them as of now please wait for our update about this avatarMay10:04 May I assist you with anything else?****** Leland10:04 Ok ************************* archived the chat10:05 ************************* left the following comment: Terrible interaction. Pointless conversation because I still have to contact you again for resolution over something that is simple.10:05 ************************* rated the chat as bad10:05 Is this the first time you have chatted with us about this case? Yes Was the case resolved during the chat? No

  Business response

  05/25/2024

  Dear ******,
  Thank you for your interest in using Credova as your financing option. Our records indicate you signed a contract on 5/17/2024 with *********. That same day you decided to cancel your purchase and a return request was accepted by the merchant. Credova abides by our merchants return policy and is unable to cancel a contract without a return request from the merchant. Your contract was canceled on 5/17/2024 and no payments were made on the account.Your account is closed, and you do not owe anything further.
  Sincerely,
  Credova Financial, LLC

• Initial Complaint

  05/15/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  These folks at Credova are, lets say they pay very little to online applications to use Credova to purchase a firearm . I applied and my credit is good but got a denial email saying they could not verify my information. I guess not they are checking in ******* where *** never lived nor have I been there. My four attempts to get qualified all came back denied because they cant verify the information in *******. All four attempts clearly shows ********* where *** lived all my life. Apologize and approve is what I want but now after reading complaints, I dont know if they are trustworthy.

  Business response

  05/22/2024

  Dear *****,
  Thank you for your interest in using Credova as your financing option. Our records indicate you attempted to apply for financing on 5/15/2024 and were sent an adverse action notice that same day. Unfortunately,your application was not approved due to not meeting the underwriting criteria.It appears you were able to chat with our representative on 5/15/2024, who explained the only offer available at the time of application was through ******************** (ACU). *** was listed on your Credit Score Disclosure that was sent to the email address on file.
  Should you wish to reapply in the future or have questions completing the application process, please contact our customer support team that is available 6AM to 6PM PST, 7 days a week, reachable at ************.
  Sincerely,
  Credova Financial, LLC

• Initial Complaint

  05/07/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Monterey Financial says I took out a loan from Credova for a purchase on GUNS.COM and I did not.Monterey Financial says a payment came from *********** and I have no account with them. The say the ************** account paid one payment and the account ended with 7089. Monterey Financial says phone number ************* is associated with the account and it is not my phone number. The email associated with the savings account is wrong as well. I have started fraud complaints with Monterey Financial Services, Consumer Financial ****************** Experian, and Equifax.

  Business response

  05/08/2024

  Dear ******,
  We have reviewed your complaint and understand your contract may be the result of identity theft. Credova takes these types of complaints very seriously and understands the adverse effects credit can have. After conducting an internal investigation, we have closed the account. We have contacted Monterey, our third-party servicer, to ensure all credit reporting is removed.
  We are sorry to hear you are dealing with a possible case of identity theft. Should you have any further inquiries or concerns related to this account, please reach out to our customer support team that is available 6AM to 6PM PST, 7 days a week, reachable at ************. Monterey can be reached at ************.
  Sincerely,
  Credova Financial, LLC

• Initial Complaint

  04/27/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I brought a ****** gun and used credova to finance it and I have to pay back twice as much of what the gun is and it was supposed to be 4 easy payments of ****** and now they telling me I leased the gun. Which I think is not right how can u lease a gun it is not a car that I can return and get another one.

  Business response

  04/29/2024

  Dear *****,
  Thank you for choosing Credova as your financing option. In reviewing the terms of your agreement signed on 7/16/2023, it appears you signed a product lease agreement. Credova follows all consumer lending laws and regulations. The terms of your financing are presented both during the application process, and on pages 2-3 of your contract, which is available to review prior to signing. Our application process requires a customer to scroll through our Truth in Leasing Disclosures and check a box agreeing that you have read these terms in the agreement, the refund policy of the specific merchant,and the Credit Score Disclosures. You are unable to agree and sign your contract without the above actions being completed. This happens prior to checkout and an order being placed. We aim to be transparent and educate our customers on their approval details prior to contract signing. We reviewed your account, and at no point during the application process was a Pay-in-Four offer presented.
  Your contract included a 30-Day Satisfaction Guarantee Buyout (SGB) option. This option allows you to pay the fair market value of the product within 30 days to satisfy your lease. Your SGB option expired on 8/15/2023.Your contract also includes an Early Purchase Option (***) that is still available to you. The *** is the sum of (i) past due payments, (ii) unpaid taxes and fees, and (iii) an amount equal to 75% of all remaining payments not yet due. If you would like to view your *** payoff amount, please login into your account at www.montereyfinancial.com and click on account information. You can also request your *** over the phone by calling our third-party servicer,Monterey Financial, directly at **************.
  We are sorry to hear you are not satisfied with your agreement. Should you have any further questions, or we can assist you in any way, please reach out to our customer support team that is available 6AM to 6PM PST, 7 days a week, reachable at ************.
   Sincerely,
   Credova Financial,LLC
  

*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. ↩