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:01/31/2024

  Type:Product 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.

  On Oct. 30th, 2023, I canceled my car insurance. Strand Finance was the finance company that worked with ******* ********* to finance my ins., which I was to pay monthly. Since canceling my car insurance on Oct. 30th, 2023, Strand Finance has never corrected my account to reflect that my policy was canceled due to my request. They allowed my policy to go into delinquent status, to go past the billing due date, and then told me my policy would be canceled due to nonpayment. I do not owe a payment, so there is no way it should be canceled for that reason. After multiple emails with Strand Finance and phone conversations, they have refused to correct my account to reflect the actual reason it was canceled, due to client request (and not to non-payment). It has been 3 months since I canceled my insurance and finance agreement with Strand Finance, and they continue to allow my account to go into a further delinquent status instead of simply updating it with the correct information. My experience with Strand Finance has been that they are a very unprofessional company and dishonest in their business practices. They refuse to do the right thing for their customer and are allowing me to be penalized for their inaction. Strand Finance has been uncooperative regarding this matter. Attached is the cancellation of my ins. with ******* *********, signed by the broker I worked with, Rebecca M*****, dated Oct. 30th, 2023. Also attached is the notice of cancellation from Strand Finance due to non-payment. I have asked Strand for a similar notice with the correct cancellation reason (client requested cancellation), and Strand Finance has so far refused to update their records and provide me with a correct cancellation notice. In the attached email from Strand on Nov 21, 2023, they said they are waiting on a refund from ******* *********, which typically takes 4-6 weeks. It has now been 3+ months with no resolution.

  Business Response

  Date: 02/20/2024

  Dear BBB,

  **** ************ has been advised on multiple occasions that we can not adjust the dates in our system to reflect the dates she requested cancellation because this did generate a cancellation due to non-payment because we received the request to cancel from her agent ******* on 11/21/23 and this was the same day that agreement went into cancellation status in our system. We did NOT send our request to cancel to the insurance company that would reflect that this was cancelled for non-payment. We had advised that the dates in our system do not reflect negatively on her records. The Insurance Company's cancellation should reflect the date she signed the request to cancel. The signed cancellation request is all the receipt she would need to prove she cancelled this on 10/21/23 but she insists I change the information in our system to reflect different dates and I can not do that to appease her as we are restricted by the State and Dept. of Banking from changing such information. I believe there is some confusion on the part of **** ************ in reference to what each company is responsible for. Strand financed this policy, We do not have access to the details to the insurance policy. There was no money received from **** ************ and she has been advised that she would not owe or receive a refund from Strand. ******* (Rebecca) is the agent that was hired to write the policy and manage any issues involved. ******* is the Insurance Company, they provide the insurance coverage and are responsible for returning any funds due to cancellation. I had not advised that the refund would come from ******* because they are the agent. ******* did return the funds to Strand refunding the money we had paid them to cover this policy. They have been behind on returning funds in general and Strand has no control over when they issue refunds Again, *** ************ did not pay any money to Strand that would entitle her to any refunds. I have already provided all the documentation in the previous complaint and none of the information has changed so I did not include duplicates for this reply. Thank you for your understanding of this matter.