ComplaintsforAqua Finance, Inc.

• Initial Complaint

  10/22/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  This company charges us ***** a month interest on a 50 a month payment! Predatory loan!Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through deceptive, coercive, exploitative or unscrupulous actions for a loan that a borrower doesn't need, doesn't want or can't afford

  Business response

  10/27/2021

  Aqua Finance, *** is inreceipt of the complaint filed by ******************.  We take these and all complaints seriously and have conducted a fullinvestigation into her claims. We hope our response provides clarity and bringsclosure to this matter. We offer our findings below:
  
  On6/11/2018 ****************** signed into a loan agreement to finance a water treatmentsystem in the amount of $3,305.00. A copy of this agreement can be providedupon request. On 6/16/2018 Aqua Finance, Inc. called ****************** to conduct averification call. During that call, ****************** stated she had a copy of thecontract, the system had been installed and working, and that she agreed to theterms of the loan.
  
  On4/15/2020 ****************** called into our office and wanted to know how muchinterest was getting charged to his last payment. The representative advised$40.00 was applied to interest and $10.00 was applied to the principal. Therepresentative also explained how daily interest works and is applied. We alsoexplained to ****************** that the account has been past due and that can have adetrimental effect in regard to how much interest is being accumulated.  ****************** interest rate is ****%. The dailyinterest charges reduce each month as the principal balance starts to decrease.
  
  If ***************** has any further questions or concerns, she may contact our office at1-************. ext. ****

• Initial Complaint

  10/20/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  1) What I know is the payments were made until Jan 2021. I sent them my father's death certificate in March 2021 after notifying them of his death. The conversation I had w the Cust Svc Rep, @1115 am on 15 April 2021, stated that they had received the death certificate and that the deceased person was no longer required to pay this. At that time, the **** was $19,035.06. She was supposed to send a doc stating the account was closed. I did not receive this notice. 2) **** PDT, 18 Oct 2021 - I spoke with the Agent, ************** Aqua Finance Company. She stated my father's account balance was $20,372.32, & they had been charging him $7/day since January 2021. She stated although the account holder was deceased, the contract states they are still responsible for interest payments and the $7/day costs. I received no documents stating this debt was being incurred. They received the death certificate and the estate contact information. but did not contact me. 3) Elderly misuse.

  Customer response

  10/22/2021

  1) What I know is the payments were made until Jan 2021.  I sent them my father's death certificate in March 2021 after notifying them of his death.  *** conversation I had with the Customer Svc Rep, @1115 am on 15 April 2021, stated that they had received the death certificate and that the deceased person was no longer required to pay this.  At that time, the **** was $19,035.06. She was supposed to send a document stating the account was closed.  I did not receive this.  

  2) **** PDT, 18 Oct 2021 - I spoke with the Recovery Dept, Aqua Finance Company.  She stated my father's account balance was $20,372.32, and they had been charging him $7/day since January 2021.  She stated although the account holder was deceased, the contract states they are still responsible for interest payments and the $7/day costs. *** estate executor, received no documents stating this debt was being incurred.  ***y received the death certificate and the estate contact information.

  3) When was the *** lien placed on the property?  Why was no attempt made to contact the estate executor for this payment prior to implementing this course of action?  *** estate probate contact period for all vendors just ended 30 September 2021.  No one from this company contacted the executor.  *** conversation with the Customer Svc Rep in April 2021, was confirmation that the account was closed.

  4) All my father's payments were applied only to the interest and not the principle ($17484.60 Total, $11057.02 paid toward interest).   He was 86 years old and 90 when he died.  Why was this not explained to him when he initially began this contract?  This is an example of people taking advantage of the elderly. 

  
  

  Business response

  10/22/2021

  Aqua Finance, *** is inreceipt of the complaint filed by ******************.  We take these and all complaints seriously and have conducted a fullinvestigation into her claims. We hope our response provides clarity and bringsclosure to this matter. We offer our findings below:
  
  On4/13/2021 we received the death certificate for ***************************
  
  On4/15/2021 ****************** called into our office   andquestioned what to do with this account, we told ****************** that she is not liablefor the payments and could draft her a letter stating that she is notresponsible for paying on the loan.
  
  On10/18/2021 ****************** called into our office and questioned why she hadntreceived a document stating that we would be cancelling the loan. We advised ***************** that when she called in April, she is not obligated to pay but there isa **** and in order to sell or refinance the property the loan would need to besettled on.
  
  On10/20/2021 ****************** requested Aqua Finance, Inc. to send a payoff letter tothe mortgage company, we sent the payoff per her request.  
  
  If ***************** has any further questions, she may contact our office at1-800-234-36663 ext. ****

  Customer response

  10/25/2021

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
  
  [Please type your response here.].

  15 April 2021:  ************** was not told there was a lien on the property.  no subsequent document, draft or otherwise, was provided to her.

  She reviewed the public records for ****************************** in ********, **, and did not see any lien recorded in the ******** Public Records section.

  Where was this lien recorded?

  
  Regards,
  
  *************************

  Business response

  10/26/2021

  Aqua Finance, Inc. has a lien on this account in the ****************, For additional information please contact our office at ************************

• Initial Complaint

  10/20/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have purchased a water filter from Rainsoft and finance the equipment thru Aqua finance. The equipment was defectious and did not work as promised. Rainsof staff have tried many times to repair the equipment unsuccessful. I have contacted Rainsoft and Aqua finance to cancel the transaction altogether as the equipment want not repairable. I have communicated to Aqua Finance that the loan need to be canceled as the contract that supported the loan will be canceled. They did not cancel the loan instead they reported the account to the credit bureaus as delinquent.I need them to cancel/close the loan and correct the balance to reflect $0.This account was opened fraudulently. Services was not rendered and I have contacted Aqua Finance several times to cancel account as the equipment was defectious and never worked. Balance should be $0.

  Business response

  10/22/2021

  Aqua Finance, Inc. is inreceipt of the complaint filed by Ms. ************ We take these and all complaints seriously and have conducted a fullinvestigation into her claims. We hope our response provides clarity and bringsclosure to this matter. We offer our findings below:
  
  On1/8/2018 **************** into a loan agreement with Aqua Finance, Inc. tofinance a water treatment system in the amount of $10,445.00. A copy of thiscontract can be provided upon request.  
  
  On9/6/2018 Ms. ***** called into our office and stated she needed to refinanceher loan because she cannot afford the loan. We advised Ms. ***** we do not offerrefinancing, but she can refinance with a local lender or bank of her choosingwith no pre-payment penalty to Aqua Finance, Inc. Ms. ***** also stated thatshe is having a financial hardship due to having a pay cut. Ms. ***** statedthat if we cannot lower her terms, she will let it fall past due until we help.
  
  On1/19/2021 we called Ms. ***** due to a past due balance and she stated she willnot continue paying for the loan as the system is not working properly. Ms.***** stated that the dealer, ************** Water & Air sent multiple mechanicsto her house, but the system is still not working properly.
  
  On7/21/2021 we called the dealer, ************** Water & Air and asked for anupdate. They stated the last time they spoke with Ms. ***** was in January andshe didnt want any service done on her system but wanted them to take thesystem back and they will not do that. They advised they will attempt to have asupervisor reach out to Ms. ***** once more but there is nothing more they cando.
  
  Ms. *****made a total of 31 payments on the loan before it was written off on 6/30/2021due to it being severely past due.
  
  If Ms.***** would like to setup a conference call with ************** Water & ***** may have any further questions, she may contact our office at1-************.

• Initial Complaint

  10/14/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Aqua finance failed to properly debit my automatic payment causing my account to fall and be reported as delinquent. Upon calling them and requesting to speak with senior managers they admitted fault stating they had a system error causing the automatic payment to not get pulled as it should have and I was promised the credit reporting would be adjusted. 3 different times I followed up and was transferred to the same senior agent who said it would take ***** days to be updated once sent to the credit bureaus its been almost a year and nothing has been adjusted. When I call now they tell me Im full of c*** and that these conversations never happened. They give me the runaround and are no help anymore. Id like to post the recordings I had on 3 different occasions with ***** and I want my credit reporting adjusted as promised

  Business response

  10/15/2021

  Aqua Finance, *** is inreceipt of the complaint filed by you.  We take these and all complaints seriously and have conducted a fullinvestigation into your claims. We hope our response provides clarity andbrings closure to this matter. We offer our findings below,
  
  On 7/1/2019 the Reoccurring Credit Card came back as declined. That same dayour office called **************************** and left him a voicemail to inform him ofthe decline.
  
  On7/9/2019 we placed two calls to ****************************. The first call we had nocontact, the second call we spoke with Mr. ************* and setup a payment aswell as changed the Reoccurring Credit Card payment on file.
  
  On8/1/2019 **************************** Reoccurring Credit Card came back as declined. From8/12/2019- 9/5/2019 our office attempted to contact **************************** with no correspondencefrom him.
  
  On9/6/2019 **************************** called into our office and stated that his ReoccurringCredit Card payments were not drafting. We advised **************************** that wewould setup the autopay with his new information that was provided to us on thecall. He also questioned why his credit was reported as delinquent. We advisedMr. ************ that his account was more than 30 days past due and we mustreport all accounts accurate to the credit bureaus. **************************** stated we didntdo our due diligence to let him know that his payment came back as declined. Weadvised him again that we did contact him multiple times as well as the monthlystatements that are sent out. **************************** wanted Aqua Finance, Inc. toremove the late pays on his credit report but unfortunately that is not somethingwe were able to do.
  
  On9/17/2019 **************************** called into our office requesting us to remove the latepays off his credit report again. We advised him that is not something we areable to do as it was reported accurately.
  
  Regarding the removal of *************************** late pays on his credit report, unfortunately, this is not arequest we will be able to grant.  The FairCredit Reporting Act requires that we report the current and correct status ofall accounts that we hold. However, if **************************** is able to prove thathe was talking to a ***** at our company and includes the recorded calls wewould honor that, but we do not have an employee with the name *****. If *************************** has any further questions, he may contact us at ****************************.
  
  
  

• Initial Complaint

  10/05/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I had a utility trailer financed through aqua finance. Which I have a lien on the title because of that. Well I paid it off almost 3 months ago I was told I would get lien release within 4 weeks. It's now been 12 weeks with nothing received.

  Business response

  10/06/2021

  Aqua Finance, *** is in receipt of the complaint filed by ********************. We take these and all complaints seriously and have conducted a full investigation into his claims. We hope our response provides clarity and brings closure to this matter. We offer our findings below,On 7/18/2020 ******************** signed into a loan agreement with Aqua Finance, Inc. to finance a trailer in the amount of $3,966.60. A copy of this agreement can be provided upon request. On 7/24/2020 we conducted a verification call with ********************. During that call, he verified that he had the trailer, agreed to the terms and had a copy of the contract. On 7/27/2021 ******************** called into our office and had questions regarding the payoff and lien release. We explained to ******************** that there would be a refund for $106.08 and the title would be release in 8 weeks. On 10/5/2021 ******************** called into our office and stated that he never received the title. Upon hearing this, we advised ******************** that we will get the title send out. If ******************** has any further questions, he may contact our office at **************.

• Initial Complaint

  10/03/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I opened up a loan with them in 2019 and I was paying it off for over a year. My balance never went down. In April of 2021 I paid off my FULL remaining balance, since then I have been rebilled FOUR (4) times for several different amounts. It recently just hit my credit that the account is 30 days past due. I don’t understand how I’m past due on a loan I’ve paid off multiple times.

  Business response

  10/05/2021

  
  Aqua Finance, Inc. is in receipt of the complaint filed by Ms. ******.  We take these and all complaints seriously and have conducted a full investigation into her claims. We hope our response provides clarity and brings closure to this matter. We offer our findings below,
  
  On 11/10/2019 Ms. ****** signed into a loan agreement with Aqua Finance, Inc. to finance a water treatment system in the amount of $15,364.98. A copy of this agreement can be provided upon request.
  
  On 4/22/2021 our office called Ms. ****** regarding a past due payment. Ms. ****** stated she had paid off the balance. We asked Ms. ****** if she had mailed a check as we had not received any form of payment. Ms. ****** stated they had sold their house and the loan was supposed to be paid off, we attempted to ask who was going to pay it off, but the call disconnected.
  
  On 4/23/2021 our office called Ms. ****** regarding a past due payment. Ms. ****** stated she paid it off and that she had it sent to us and we should be receiving it soon.
  
  On 4/26/2021 we received a payment in the amount of $13,240.70.
  
  On 6/22/2021 our office called Ms. ****** regarding a past due payment. Ms. ****** made a payment for $82.90.
  
  From 7/26/2021 through 9/28/2021 our office tried contacting both Mr. and Ms. ****** regarding the past due balance with no correspondence.
  
  Regarding the payoff of the loan, we have no records of either Mr. or Ms. ****** calling our office to receive a payoff amount. As a courtesy, Aqua Finance, Inc. has submitted to waive the remaining balance on the account. In response to credit reporting, Aqua Finance, Inc. is required by law under the Fair Credit Reporting Act to report correctly to the credit bureaus how the account is in standing.
  
  If you have any further questions you may contact our office at 1-800-234-3663 ext. 6091.
  

  Customer response

  10/09/2021

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  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.  As long as the remaining balance is waived, because I don’t understand HOW there was a remaining balance. Every time I zeroed out the balance, another payment was requested down the lines. I just want to be free of this company. 
  
  Regards,
  
  ****** ******
  

• Initial Complaint

  09/24/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Around this time last year I couldn't afford to pay them all the payments because I got hours cut and was trying my best to give them what I could they told me I wouldn't be reported as late payments but it did report I'm now bk on my feet and haven't missed a payment could it please get removed

  Business response

  09/29/2021

  Aqua Finance, *** is in receipt of the complaint filed by ****************. We take these and all complaints seriously and have conducted a full investigation into her claims. We hope our response provides clarity and brings closure to this matter. We offer our findings below,On 6/18/2019 **************** entered into a loan agreement with Aqua Finance, Inc. to finance a water treatment system in the amount of $6,500.00. A copy of this agreement can be provided upon request. On 6/22/2019 we conducted a verification call with ****************. During that call, **************** said the work had been completed, agreed to the terms, was made aware of her first payment due date and had a copy of the loan documents.On 3/7/2020 we called **************** for a past due payment. **************** said she made a payment online two days prior, we advised her that we would follow-up at a later time.From 6/29/2020 to 7/31/2020 we tried contacting **************** for a past due balance with no correspondence from her. On 8/6/2020 **************** called into our office due to her past due balance. She setup payment arrangements for the past due balance.From 9/25/2020 to 12/28/2020 we tried contacting **************** for a past due balance with no correspondence from her.On 12/29/2020 **************** called into our office and stated that she cannot afford the payment because she lost her job. We asked **************** if the loss of her job was due to the Covid-19 Pandemic and she said yes. We advised her that we could look at a possible extension due to a financial hardship for her, but we would need documentation showing her loss of income to begin looking at options. The representative gave **************** their email and said they would need documentation to be sent before they looked at potential options, we never received the documentation showing the loss of income for ****************. On 9/8/2021 **************** sent us an email asking who to contact to see if we could report the late payments as current for her for the past due payments in 2020. A representative called ****************, but unfortunately was not able to get ahold of her.Regarding the removal of ****************' late pays on her credit report, unfortunately, this is not a request we will be able to ****** The Fair Credit Reporting Act requires that we report the current and correct status of all accounts that we hold. If **************** has any further questions, she may contact us at *****************************.

• Initial Complaint

  09/16/2021

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  In April or May of 2018 we were solicited by a company Rainsoft. They sent us mail and came to our home by getting our information from *********** We were 1st time home buyers and had just bought a 100yr old house so we thought Sure let's purchase. We were told we could pay the system off in 4yrs and so we agreed due to all the perks such as an added water heater, free household products and a reasonable interest rate. Once we signed the papers, the equipment came and we made our 1st payment to Rainsoft. The next month we were billed by a company AQUAFINANCE. Our terms had changed. Our interest rate had changed and we have been paying for almost 4 years we have paid over 4k and still owe ****. The system was for a loan under 8k. When we asked if we could begin paying it off to avoid interest, we were told we would still be charged Intwrest in addition to whatever date we would be paying on. We asked for a settlement to pay off, we asked for a lower interest rate we asked for Somethin

  Business response

  09/23/2021

  Aqua Finance, *** is inreceipt of the complaint filed by ********************.  We take these and all complaints seriously and have conducted a fullinvestigation into her claims. We hope our response provides clarity and bringsclosure to this matter. We offer our findings below,
  
  On4/6/2018 ******************** signed into a loan agreement with Aqua Finance, Inc. tofinance a water treatment system in the amount of $8,774.00.  On the Retail Installment credit agreementsigned by Mr. and ********************* it indicates a reduced APR of 8.9% and areduced payment factor of 1.15%.  In thecomplaint, ********************* states that the terms had changed.  To Aqua Finances knowledge, the terms givenon the contract were the terms that were agreed upon at the time of thesale.  If ********************* has documentationto support alternate terms of her agreement, we request that she provide it tous. 
  
  ******************** is correct in her statement that they have been making payment foralmost four years.  To date they havepaid $4,672.00 on their contract.  Of theamount paid, $2,108.38 has been applied towards principal.  The billing statement mailed each monthprovides a minimum payment warning and indicates the time it will take to payoff making the minimum payment; at this time, it will take approximately 8years to pay off if timely payments are made each month.   Byincreasing the payment made each month, Mr. and ********************* could save asubstantial amount of money each month.   Making payments on time is key to incurring less interest.   To date, 24 out of 41 payments have made late,causing additional interest to accrue.   This is a simple interest contract therefore interest accruesdaily.  Unfortunately, we are unable tooffer a reduced pay-off at this time, but we hope this response providesclarity surrounding the terms of the agreement.  Please feel free to contact us with any further questions.

• Initial Complaint

  09/16/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We entered an agreement with enerfuze water technology and Aqua finance on 7/3/2019 ,enerfuze promised to pay for the cost of the water softener as long as we display their sign will its been over 2 years and the company never paid the loan , I tried contact Aqua finance for help in locating enerfuze person or company but refused to help me with my request the softener system no longer works so I called another softener company and they told me that the one I purchased from enerfuze was installed incorrectly

  Business response

  09/24/2021

  Aqua Finance is sensitive to Mr. ********** complaintregarding Enerfuze LLC and their sales practices.  In order to better servehim and work towards a resolution, we will be reaching out to him directly inthe upcoming days to obtain more information and assist in providing him with asatisfactory resolution.  We look forward to speaking with him and bringthis matter to a close. 

• Initial Complaint

  09/13/2021

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  We purchased an RV using a loan from Aqua Finance in April 2021. I set up the account to have automatic draft from my checking account to ensure all payments would be made on time. In May, we received a notification that Aqua Finance had teamed up with Connexus to service our loan. In July, I received a call from Aqua Finance asking if we were handling the title work or if the dealership was. I replied that I thought the dealership was. A couple weeks later the dealership called and said the financing company had lost paperwork for the title work and we would have to sign new papers, which we did. In August, I received a call from Aqua Finance stating my payments were 80 days past due. I was told the dealership sent them a check for title work that was applied to our account as a payment so the automatic drafts were not taken out. The dealership took the check back to process the title and now the account is past due. They offer no resolution for their mistake.

  Business response

  09/23/2021

  Aqua Finance, Inc is in receipt of the complaint filed by Mrs. ******.  We take these and all complaints seriously and have conducted a full investigation into her claims. We hope our response provides clarity and brings closure to this matter. We offer our findings below,
  
  On 3/31/2021 Mrs. ****** entered into a loan agreement with Aqua Finance, Inc. to finance a RV in the amount of $60,038.42.  On 5/10/2021 we received a check from the dealer, Lazydays RV America LLC which was supposed to be sent to the state for titling. The check was cashed and applied to Mrs. ******’s account in error.  On 8/13/2021 we returned the check to the dealership at their request.   
  
  We acknowledge this situation was poorly communicated to Mrs. ****** and hope we can make it right.  We will be making the necessary corrections to her credit report to ensure it is reported as current with no late pays; however, we are unable to defer the outstanding payments.  We sincerely apologize for this confusion and hope this provides closure.
  
  If you have any further questions you may contact our office at 1-800-234-3663.

  Customer response

  09/23/2021

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
  
  While I appreciate the correction to my credit report, there’s no mention of correcting my husband’s credit report for this joint account. In addition, correcting the credit report does not help me get caught up on payments. I do not understand why the payments cannot be moved to the end of the loan. I have made additional payments as I am able to. How long do I have to get caught up before Aqua Finance reports additional late payments to our credit reports? This is a poor attempt to resolve the issue.
  
  Regards,
  
  ***** ******

  Business response

  09/29/2021

  Aqua Finance, Inc is in receipt of the complaint filed by Mrs. ******.  We take these and all complaints seriously and have conducted a full investigation into her claims. We hope our response provides clarity and brings closure to this matter. We offer our findings below,
  
  As stated in our previous response we acknowledged that the situation was poorly communicated and hoped to make it right. Our office, per Mrs. ******’s request will move the past due amount to the end of the loan for the inconvenience. Once they are moved, there will be a credit adjustment made to both Mrs. ****** and Mr. ******'s credit report resolving the reporting, which will show as current.
  
  If you have any further questions you may contact our office at 1-800-234-3663.Tell us why here...

  Customer response

  09/29/2021

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  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. 
  
  Regards,
  
  ***** ******
  

*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. ↩