Complaints

This profile includes complaints for 722 Redemption Funding Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  722 Redemption Funding Inc.

  3700 Park 42 Dr Ste 150B Cincinnati, OH 45241-2081

  
• 

  722 Redemption Funding Inc.

  3700B Park 42 Dr Suite 150A Cincinnati, OH 45241

  

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:11/20/2024

  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.

  We purchased a vehicle 10/9/24. It was driven to our residence from out of state on 10/21/24. We were never told we would need to take the driver out of state (55 miles) to an airport. We were never compensated and did not know at date of purchase that it would be driven. We were told it would be hauled not driven. Illinois is a tax title plate finance state. They were incorrect on how much the sales tax would be and shorted us $85 per IL DMV. After several attempts to ask for resolution we were told the check was in the mail. Which after awhile I asked and now they say we are out of luck. On top of the inconvenience of the driver we had to pay $275 out of pocket which should have been financed. They refuse to make anything right. I was told GAP insurance was included and that was also incorrect.

  

  Business Response

  Date: 11/27/2024

  Thank you for contacting
  us.  All details surrounding the transaction were fully disclosed to the
  consumers.  Misunderstandings do happen occasionally so we are not
  challenging the customer's integrity but we are challenging the assertion that
  we actively misled them.  Every transaction is reviewed with the
  customer as the last step which includes selling price, taxes, title and
  licensing fees, etc.  

  Upon review, none of the
  iterations of the loan processing process in this transaction show any request
  for the lender to approve GAP on this purchase leaving no evidence anywhere
  where GAP coverage was offered or accepted.

  Additionally, all title/tax forms were provided to the
  consumers.  It appears the consumers did not use these forms when they
  went to the DMV, so the wrong sales price was used.   It is our
  understanding the consumers used the price of the car from the contract, which
  includes sales tax.  This discrepancy and failure to use our forms led to
  a higher fee at the DMV.    Our paperwork and letter contain detailed
  titling instructions.  

  The written documents accurately reflect the transaction as it
  was offered and accepted.  We do not pay out of state title and license
  fees nor do we include GAP coverage on a transaction where the customer has not
  paid for the coverage. 

  It is unclear if the consumer is seeking repayment for taxes
  and/or GAP.  As a courtesy, we are willing to review the tax discrepancy.  If the
  customer can provide S***** E****, ************************, with information
  regarding the taxes, we would be happy to review and resolve this matter
  amicably.  

  Customer Answer

  Date: 11/27/2024

  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, reasons for rejection are included below.

  
  

  
  

  We want to two DMV’s which both said the form they provided was incorrect. It is based on total price according to the DMV and I offered the phone number to the tax rep. Everything we said was a verbal conversation with your rep. Do you record calls? If so I recommend listening to her tell me “yes gap insurance has been add and your out of pocket on tax/title/licence would be $25”. The description online for the vehicle was wrong as well. I am asking for gap insurance and reimbursement for our out of pocket. Finger pointing is not a resolution. I was also told they were sorry about the taxes and would be mailing a check. After a week or so and no check I called. She assumed all was well. 
  
  
  
  
  Regards,
  
  
  
  ********* *******
  
  

  

  Business Response

  Date: 12/09/2024

  We  apologize the consumers are unhappy with the situation.  We have reviewed the calls between 722/A****** and ********* and at no point was GAP offered or accepted.  Additionally, the lender CPS went over the retail installment contract with the consumers.   Nor is GAP included on the retail installment contract signed and accepted by the consumers.  Our record is clear, there was no GAP offered or included in the purchase of the vehicle. 

  Again, we are happy to review the out of pocket for the taxes.  It is unclear from the prior messages the exact amount of the discrepancy.  If the consumers can provide a receipt of the discrepancy to ************************ a reimbursement will likely be issued.  To resolve this matter as amicably as possible, 722 needs to review this amount in order to make an offer to the consumers.   

• Initial Complaint

  Date:06/17/2024

  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.

  I filed for bankruptcy in January of 2024 through ********* ****** *** ******** ********** **. During our conversations, my attorney said that I could check into "722 Redemption". He said that many times, 722 Redemption could get me a reduced car payment along with a reduction in the amount I owed for my car. I contacted 722 Redemption and was told I was approved for a $10,400 loan. So, the amount I owed for my **** ** ****** was reduced to $10,400.
  
  Despite repeated attempts to contact 722 Redemption, I did not ever get anything finalized. I figured there was some sort of delay or just part of the process.
  
  On May 24, 2014, I woke up and my car was gone. I thought it was stolen but when I contacted the police they told me it was repossessed.
  
  I contacted 722 Redemption. The representative tried to blame it on me. Finally, after repeated emails and a threat that I would call his superior, Jeff returned my call at 4:30ish on 5/24. He told me he made no progress toward a resolution. I asked him if his company could rent a car for me and he said "no." I asked what I was supposed to do about work and about getting to my 4 year old nephew's funeral (he drowned a few days prior), he said he didn't know. He did say he would go into the office on Saturday 5/27 and work on my case more and I heard nothing from him until Tuesday 5/28.
  
  My attorney **** ******** was copied on all emails and he really didn't have my back either. I am still making payments to him for my bankruptcy - even though I lost my car.
  
  I had to purchase another vehicle for $20,998 plus taxes and transfers. Therefore, I believe that I am owed a total of $15,000.00 from 722 Redemption - $12,565.76 (the difference of the purchase of my new car minus the loan amount for my old car) plus pain and suffering in the amount of $2,434.24.
  
  Please advise.

  

  Business Response

  Date: 06/21/2024

  722
  Redemption Funding is sorry to hear of the personal troubles *** ***** went
  through.  722 did try to help her save money through a Redemption under ** ****** * ***.  However, unless a Federal Bankruptcy Judge signs a Court
  Order granting a Redemption Motion, 722 Redemption is unable to assist with a
  loan.  In this case, 722 was not provided with a Court Order, therefore
  *** ***** never consummated a loan with 722’s lender, Prizm Financial Co., LLC.

  722
  Redemption cannot provide assurances or guarantees as to the success of a
  Redemption Motion or the likelihood an existing creditor will accept a lesser
  amount for its collateral.  As common practice, Creditors object and fight
  Redemption Motions frequently.  In short, a Redemption must be granted
  by the Court and agreed to by the current lender, before 722’s lending network
  can help the consumer.    
  Additionally,
  722 has no control over the prior lienholder or its right to repossess its
  collateral.  While this is conjecture, it has been 722’s experience that
  lenders will repossess vehicles if a consumer is behind on
  payments.   722’s actions would have no bearing in this situation. 

  Finally, any decision
  to purchase a replacement vehicle via an unaffiliated third party was made
  unilaterally by *** *****.   She willingly negotiated with that third
  party, secured her own financing and purchased said vehicle 100% on her own,
  without our involvement.  What she paid, the terms, etc. was fully the
  result of an arm’s length transaction between *** ***** and an independent outside
  third party.  Again, 722 had no bearing
  on this transaction.

  722 is
  sorry for the tragedy which befell *** ***** and her family.   Since
  a replacement vehicle was obtained by *** *****, 722 Redemption has closed this
  file.

  Customer Answer

  Date: 06/21/2024

  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, reasons for rejection are included below.
  

  My attorney **** ******** was not copied. Nor, was I told by anyone that I needed a court order.  That should have been between my attorney and 722 Redemption.  I am not an attorney and do not do car redemptions.  It was up to them to have my back.  Also, my attorney told me to stop making car payments when I filed for bankruptcy.  Further, I thought that my redemption was being processed and was none the wiser, so I did not know who to make payments to.  

   I was told that I was approved for a redemption (per the emails that I sent to you previously).  722 Redemption stopped communicating with me and did not follow up to my emails asking for a status.  Further the day that my car was repossessed, Mr. Jeff D**** (of 722 Redemption) told me that he would go in the next day (on a Saturday) to work on my case because it was stressing him out also.  I didn't receive a response from Mr. Jeff D**** until Tuesday of the following week.  He lied to me.

  No one would help me with getting transportation until I could secure a car, so I had no choice but to get one on my own.  I wanted my old car back.  No one reached out to me until EIGHT days later to offer further services.  

  I was also told (per my emails that were previously sent to you) that the owner, Mr. Z*****, contacted his attorney to look into this matter.  I heard nothing back from him at all until I emailed him over a week later after my complaint and he simply told me he closed my file.

  I had no choice to do what I did because 722 Redemption gave me no choice.  I am now having to pay over double of what I would have had to pay had 722 Redemption done what they promised.

  They misled me, lied to me and dismissed me.  Further when I asked if they could rent me a car until this was resolved, they simply said "no."  I look to your company to help me get a settlement. 

  Thank you

  Regards,
  
  
  
  ** *****
  
  

  

  Business Response

  Date: 06/28/2024

  We are sorry *** ***** feels this way.  722 Redemption has no obligation at this point.  There is/was no contract, there was no guarantee of success with a redemption, and *** ***** purchased a vehicle through an outside dealership.  722 never guaranteed an outcome nor did it lie to *** *****.  722 Redemption had absolutely no involvement with the repossession of her vehicle or her purchase of a replacement vehicle.
  722 Redemption wishes *** ***** the best.  Again, this matter is closed on our end. 

  

  Business Response

  Date: 07/05/2024

  The request for a loan to
  redeem her vehicle was made on or about January 2, 2024.  The consumer was conditionally approved at
  that time.  This approval is conditioned
  on 722 receiving a Federal Bankruptcy Court Order.  722 has no bearing on this process after the
  conditional approval.  This is the
  responsibility of the consumer.  The
  consumer is required to get a Court Order. 
  As a consumer in bankruptcy, *** ***** receives all bankruptcy
  notices.  She would’ve been apprised
  throughout the situation.  722 did not
  receive an Order granting or denying the Redemption.   Therefore,
  it closed its file on June 1, 2024. 

  Customer Answer

  Date: 07/22/2024

  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, reasons for rejection are included below.

  722 Redemption refused to acknowledge its fault in my car being repossessed.  It refused to offer any type of settlement.  I had no choice but to purchase a different vehicle because 722 Redemption refused to even assist with a rental car until the matter was resolved.

   

  
  
  Regards,
  
  
  
  ** *****