Complaints

This profile includes complaints for Beacon Funding Corporation's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Beacon Funding Corporation

  3400 Dundee Rd Ste 180 Northbrook, IL 60062

  
• 

  Beacon Funding Corporation

  3400 Dundee Rd. Suite 180 Northbrook, IL 60062

  
• 

  Beacon Funding Corporation

  3400 Dundee Rd Northbrook, IL 60062

  

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:06/17/2025

  Type:Billing Issues
  Status:

  AnsweredMore 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.

   
  Complaint: 23480063
  
  I am rejecting this response because:
  
  Sincerely,
  
  ********* ******

  

  Business Response

  Date: 06/25/2025

  Beacon Funding Response to BBB Complaint #******** ******************
  
  Thank you for the opportunity to respond to the concerns raised by Mr. ********* ****** of *******************
  At Beacon Funding, we are committed to transparency and fairness in all customer interactions. We understand Mr. ******* frustration and appreciate the chance to clarify the situation.
  The charges in question stem from a lapse in the customers insurance coverage. Mr. ******* policy expired on July 2, 2024,and despite multiple outreach attempts, valid replacement coverage was not confirmed until September 17, 2024. During this period, Beacon Funding was required to place the account under a third-party insurance provider, as outlined in the lease agreement. These charges were communicated to the customer via email and phone on several occasions.
  
  Additionally, the account incurred returned payment and late fees due to multiple unsuccessful ACH transactions. These fees reflect actual costs incurred by Beacon Funding and were assessed in accordance with the terms of the agreement.
  
  We also want to clarify that an earlier insurance certificate submitted by the customer was incomplete and did not meet the required coverage standards. Once a compliant policy was received, we promptly removed the insurance charges going forward.
  
  We regret that Mr. ****** feels his concerns were not addressed. Our team made repeated efforts to explain the charges and timeline,and we remain open to further discussion. If Mr. ****** believes any aspect of this matter remains unresolved, we welcome him to contact us directly so we can ensure all concerns are fully addressed.

• Initial Complaint

  Date:05/22/2025

  Type:Order Issues
  Status:

  AnsweredMore 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.

  The Julian ********* (***) co-signed for two vehicles through Beacon Funding for a business in ********, ********. The business defaulted on the loan and Beacon came to ***, as co-signer to satisfy the loan, which *** did. The trucks were then assigned to Jci by Beacon and they sent the titles to ***. However, Beacon mistakenly listed the defaulting company, and not ***, as the buyer, a mistake which they have since acknowledged. This made it impossible for *** to title the vehicles in it's company name and put them into service. *** reached out to Beacon, the seller on multiple occasions, requesting that they correct the title. They refused. The state licensing bureau will not issue new titles to *** without a corrected title from Beacon. Thus, *** has now paid for vehicles which we rightfully own but cannot license and, as a result cannot use. Without these vehicles we are unable to satisfy service commitments made to customers. This in turn, has cost is lost revenue, and has damaged the reputation of the company. As this continues we estimate we are losing $5000 per week per truck in lost revenue. This in addition to the purchase cost of the vehicles.

  

  Business Response

  Date: 05/29/2025

  We appreciate the opportunity to respond to the concerns raised by The **************** (***) regarding the titling of two vehicles associated with lease contract BFC17603-01.
  
  We understand and empathize with the operational challenges *** is facing. We acknowledge that *** satisfied the outstanding balance on the lease after the primary lessee, ***************************************, defaulted. The vehicles were assigned in accordance with our standard procedureslisting the original lessee,***************************************, as the buyer, consistent with their exercisable purchase option under the contract.
  
  Unfortunately, a dispute has since arisen between the two guarantors on the contractJCI and ****************************** ownership of the vehicles. Ms. ********** has issued legal threats and conflicting claims,which has placed Beacon Funding in a difficult position. To avoid inadvertently assigning ownership to the wrong party and to protect all involved, we have temporarily frozen the account.
  
  To resolve this matter, we have communicated two clear options:
  
  *  Joint Direction: A written and signed agreement from both *** and Ms. ********** instructing us on how to proceed with the title correction.  

  *  Indemnification: A signed indemnification and hold harmless agreement from ***, which would allow us to reissue the titles while protecting Beacon Funding from potential legal exposure.

  These requirements are standard practice in situations involving conflicting claims and are designed to ensure fairness and legal clarity for all parties involved.  We remain committed to resolving this matter equitably and efficiently. We encourage the parties to work together or provide the necessary indemnification so that we may proceed with the title correction and help *** put the vehicles into service.
  
  If there are any questions or if *** would like to discuss the indemnification process further, our team is available and willing to assist.

• Initial Complaint

  Date:05/17/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore 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.

  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

  Date: 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

  Date:12/29/2022

  Type:Order 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.

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

  

  Business Response

  Date: 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

  

  Business Response

  Date: 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 Answer

  Date: 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

  Date:11/04/2022

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore 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.

   
  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,
  
  *****************************he 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

  Date: 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

• Initial Complaint

  Date:09/19/2022

  Type:Order Issues
  Status:

  AnsweredMore 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.

  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

  Date: 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.