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Complaint Details
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Initial Complaint
08/04/2021
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
I have been affected by the pandemic. I have a loan with UMWSB for my piano. The dealer specifically steered me towards using them, as did Yamaha. When I took out the loan I was told there was a 15 day grace period on paying. I was late on the payment because of lost work from the pandemic. I called at the beginning of July and spoke to ***** ********** and explained my situation and asked if I could bring the account current by the start of august. I was assuming that the 15 day grace period would be in effect, as the due date was the 28th. I made a huge $3200 payment and brought the loan current on August 2nd. On August 3rd, I get a notice from them they are processing my payment AND a notice from credit monitoring they have marked my file as further delinquent. I contact ***** and only then does she tell me that payments are 15 day grace periods not reporting. No one told me the distinction. Nor that I need to pay by the 28th or I would have. She said they won’t change the reportingBusiness response
08/11/2021
Mr. ******:
Thank you for contacting United Midwest Savings Bank and letting us know about your complaint with your loan payment. Your loan has a 15-day grace period on late fees that does not extend to credit bureau reporting; however, by the time you contacted us to let us know that you had lost income because of the pandemic, the loan was already 40 days delinquent. We appreciate your bringing the account current on 8/2/21 with a telephone payment, but by then the loan was 66 days delinquent and had been reported to the credit bureau as per our policy. If you think your loan might become delinquent again because of COVID-related challenges, please ask us about a 90-day deferral. We would appreciate the opportunity to work with you to prevent any future problems.
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.