Complaints

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• Initial Complaint

  Date:03/21/2023

  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 got a vehicle loan through Bellco federal credit union in November of 2021. Now all of a sudden since January 2023 the manager **** at the ********** branch has been harassing and relentless about stating that I have pay title fees and sales tax after 14 months of signing a loan agreement. Hes very dishonest and told me its a common thing that you would have to pay $20 to add Bellco as a lien holder. I thought ok no big deal Ill do that. I contacted the notary and they laughed saying how can you do that when youre in a loan agreement and youre not the title holder. Your loan company is the title holder and you wont get the title until you pay off your loan agreement. The notarys exact words were somebody made a big boo boo and theyre trying to cover their tracks to prevent a loss for their mistake and not lose any money. No loan company says 15 months later that oh by the way you owe more fees, not $2000 plus. Now after speaking with a different branch manager which is a lot nicer and honest I find out they lost the original title. They are requesting a duplicate and then I have to pay the fees they want. They offered a personal loan which I cant afford to pay or have the credit score to even apply for it. I contacted ******** capital who is the original title holder and who I leased the vehicle from before I purchased it through Bellco. They said they mailed the title December 5 of 2021 to the Bellco ********** **. Branch. They also said that what Bellco is trying to do they never heard of and its very unprofessional and a major mistake and I shouldnt be responsible for their unprofessional mistakes. I have a signed loan agreement that states after I make my final payment the title gets transferred into my name. Theres nothing that says after a year youre responsible for more fees.My attorney advised me to contact the better business bureau and see if they can help me before I proceed further with his legal advice. I hope you can help

  Business Response

  Date: 04/10/2023

  After reviewing this complaint there has been some miscommunication and misunderstanding with this transaction.  Currently the borrower is not conforming to the terms in his signed loan agreement.  Bellco Federal Credit Union would appreciate the opportunity to speak with the borrowers attorney to aid in sorting out this transaction.

   

  
  ***** * ****
  
  Chief Lending Officer  NMLS# ******
  
   

  Customer Answer

  Date: 04/10/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: I would like Bellco to point out in my loan agreement we both signed that states Im responsible for any additional fees after 1 year of signing the loan agreement. Im conforming to my part of the loan agreement. I make my monthly payment every month. Please point out and show me where Im not conforming to my part of the signed loan agreement 
  
  
  Regards,
  
  ***************************
  
  
  
  
  
  
  
  
  

  Business Response

  Date: 05/03/2023

  As mentioned in the members response, the member is complying with the Promise to Pay portion of the Loan Agreement.  On page 2 of the Loan and Security Agreements, the member is not complying with section 4. Security for Loan.  The member has not provided Bellco with a title in his name and thus we are unable to add Bellco as lienholder to the collateral described in the Security section of the Truth in Lending Disclosure.  
  
  The financial institution is not seeking additional fees. The member completed a lease buyout with ****************.  Currently,the member still has not paid the ************ sales tax on the purchase of the automobile, as is required by the state for automobile purchases.  As a result, he is unable to provide Bellco with a title in his name.  The lease buyout agreement clearly states, Please consult your state and local officials for tax obligations on the purchase of this unit.
  
  Since the inception of the loan, Bellco has been trying to work with the member to obtain the automobile title in his name.  Recently we have been coordinating with **************** to obtain a duplicate title.  Upon receipt, Bellco will be asking the member to pay the required ************ sales tax on the collateral, so the title can be placed into the members name, as it currently is still in the name of the leasing company - ****************.

  Customer Answer

  Date: 05/03/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: I have included page 2 section 4 of the loan that states nothing about what Bellco is claiming. I have also included the page where Bellco requested the title and I talked to **************** who stated they mailed and released the title to Bellco on Dec 5, 2021. Bellco lost the title. I did not complete a lease buyout. Bellco did. You can contact **************** at ************ and they will confirm who paid them and that they released the title to Bellco. The loan department specifically told me everything is included in the loan including taxes and title costs. Also they have not been working with me since inception. They never said anything until after a year later of paying on the loan.
  
  
  Regards,
  
  ***************************
  
  
  
  
  
  
  
  
  

  Business Response

  Date: 05/09/2023

  Bellco requested a duplicate title from **************** which was received on 05/08/2023.  In review of the title, the registered owner of the vehicle is **************** Auto (****) ********* with a first lien in favor of **** Auto *********.  The member has not provided Bellco with a title with his name listed as the registered owner and thus we are unable to add Bellco as lienholder to the collateral described in the Security section of the Truth in Lending Disclosure.  In order to have the member's name on the title as registered owner, he will need to pay ************ sales tax as the transaction was the purchase of a leased vehicle. 

  Given the review of the title that was received from ****************, Bellco stands by its previous responses.