Complaints

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

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  Time Investment Company, Inc.

  100 N 6th Ave West Bend, WI 53095-3306

  
• 

  Time Investment Company, Inc.

  PO Box 248 West Bend, WI 53095-0248

  

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:12/22/2024

  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.

  In October 2024, the co-applicant of owed balance filed for bankruptcy. After that point, All contact ceased from the company. In December 2024 A negative credit reporting appeared on my credit report. In an effort to fix this ****, I tried to schedule payments online and call the company. Due to the bankruptcy filing, I am not able to make a payment, I have not been contacted, and I have not been sent to bill. I have called the company to try and fix the situation, and have not heard back after I was told this would be resolved. This has severely negatively impacted my credit. I have asked to have my credit fixed, and re-aged since there was no contact to me and I have been not allowed to make a payment to bring the account current. The issue is not the bill, I know the balance is owed. The issue is that they have harmed my credit and have put my financial status at risk. Every day, my credit drops. I need this fixed as soon as possible. I need my credit adjusted to remove the late notifications, I need the bills sent to the appropriate place, and I need the ability to make payments that they have currently blocked.

  Business Response

  Date: 12/26/2024

  We have been in direct contact with Ms * to address her concerns. We were unable to communicate with her previously due to the bankruptcy filing and the automatic stay. We did not receive direct notification of this bankruptcy from the bankruptcy court and therefore had to rely on communication from the borrower which implied that both the borrower and coborrower had filed bankruptcy. We are reaching out to the court and trustee to determine why they did not send us the bankruptcy notices directly but have been able to verify that the coborrower did not file bankruptcy with the borrower. We have updated the account to allow Ms * to make payments and bring her account current. We have also agreed to remove the late payments from her credit report. We will continue to work with Ms * to ensure all of her concerns have been addressed. 

• Initial Complaint

  Date:12/20/2024

  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.

  Payment for Dec 2024. I use bill pay thru my bank. Check issued Dec 5 and mailed. Check has bern cashed on dec 18. Now ********** is still saying that they have not received payment. This is not the first time. Also i was informed that i have been paying more than payment. According to contract i am paying the amount that was agreed upon in adfition i had 60 months now nov statement shows 61 payments.Note account name. ***** ******. PAID BY. ****** ******

  Business Response

  Date: 12/23/2024

  *** and **s. *** payment was received by our bank's lockbox on 12/17/24, however there was missing information in the bank file when it was sent to Time Investment Company. When this happens we have to manually review each payment in the file and post to the correct account which results in a delay in the payments being posted to the account. *** and **s. *** payment of $181.14 was posted to their account as part of this manual review process on 12/22/24 with an effective date of 12/17/24. Their account is current at this time. ** and **s * have an installment loan and the monthly payment is $181.14, however they are paid ahead by $20.38 which is why their statements reflect a payment amount due of $160.76. They can continue to pay more than the minimum due which will go directly towards their principle balance. The term of the loan is 60 payments with a final scheduled payment date of 9/15/2027. 

  We are working with our bank to rectify the issue of missing information in the lockbox payment files to prevent future issues. We always manually review payments that do not automatically post due to missing information and these payments are always posted with the correct effective date to prevent late charges and negative impacts to our customers. We do offer several expedited payment options at no charge to our customers. We would encourage ** and **s *. to review these options and consider if they would prefer an expedited option. We offer both one time and recurring ACH, Debit Card, Apple Pay, ******, and Cash app all with no fee to our customers for these options through our Pay Near Me payment provider. ** and **s * can use these options through the Pay Near Me payment portal or by speaking to our customer care department.

  If ** and **s * prefer to continue using their bank bill pay service we do ask that they confirm they are using the most updated information as listed on their monthly statements including the account number and payee name and address listed below. Should ** and **s * have further questions or concerns, we would encourage them to call our customer care department at ************ and ask to speak to a supervisor or manager.
  
  

  Account Number: ******
  

  Mail Payment to:

  TIC Home Improvement Trust 2024-A
  PO Box 3184
  *******************-3184
  
  

   

  Customer Answer

  Date: 12/26/2024

  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, details of the offer I reviewed appear below.
  
  [Pleiase type your response here.]
  I have tried once before to use a prepaid Now card thru my bank.  Was denied that card was expired and I had just opened account.

  I need a detail explanation of what the final payment will consist of so that I can take this to my attorney for further instructions. 

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

  Business Response

  Date: 12/30/2024

  Customer satisfaction and experience are very important to us, so we are sorry to hear that **s. * did not accept our response to her complaint. Her payment posted to her account on 12/22/24 with an effective date of 12/17/24 to reflect when the payment was received by our our bank lockbox. **s * mentioned a prepaid card that she tried to use previously. We changed payment processors in August of 2023 to offer more payment options to our customers. Our current payment processor is ********* and we accept ACH, Debit Card, ***** Pay, ******, and Cash app which can be done through the PayNearMe interface or by calling in and speaking to a representative. We do not accept credit cards for monthly payments through any ********* payment channel but do accept debit cards through them. 

  **s * also stated, "I need a detail explanation of what the final payment will consist of so that I can take this to my attorney for further instructions." We are unclear what she is requesting and encourage her contact us directly so we can provide her with the information is requesting. 

  If ** and **s * still have questions or concerns, we would encourage them to call our customer care department at ************ and ask to speak to a supervisor or manager so we can work with them directly to address them.

• Initial Complaint

  Date:09/04/2024

  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 was just checking my credit report and see this company did a credit inquiry that did not originate from me. the address and phone number shown are not mine

  Business Response

  Date: 09/10/2024

  We did try to reach out to *s. * to discuss her concerns but we did not receive a response to our email or messages. *s * requested financing for products and services from and through Synergy Home back in October of 2022. We have attached a copy of the letter we sent to *s * back in *********************************************************************************** concerns she can feel free to contact us and we would be happy to discuss them with her. 

• Initial Complaint

  Date:07/02/2024

  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.

  We have been doing business with Passantes (food delivery) and realize now that we are working with second billing company, that they are in fact practicing illegal billing as explained by the most recent billing discrepency; "The discrepency you have noted is a consequence of a type of financing we provide to customers called "pre-compute interest lending" this is what you expect to pay if you only make the monthly minimum, we didn't do this we paid it off early, and this "pre-compute interest lending" was still applied, written off (no notice to us given) and then charged off on our credit, we paid the balance not knowing what the issue was until we dug in a bit more, now we will be filing and seeking a much larger resolution as this is unfair, unethical and illegal trade practice

  Business Response

  Date: 07/09/2024

   Ms. * made a BBB complaint on this matter previously back in April and didn't agree with our response. She has since paid her remaining balance and her account with TIC has been paid in full since May of 2024.

  In this new complaint,Ms * states she realizes now that they are working with a second billing company. Ms * has no open or unresolved accounts with TIC. Ms * also states " that they are in fact practicing illegal billing as explained by the most recent billing discrepency; "The discrepency you have noted is a consequence of a type of financing we provide to customers called "pre-compute interest lending" this is what you expect to pay if you only make the monthly minimum,"". This statement and quote does not match correspondence from TIC to Ms * so we are unclear what discrepancy she or the responder is referring to.

  Ms * did have a closed end installment contract with Passantes and for a freezer, TIC took assignment of that contract in October of 2020. This was the subject of Ms *'s prior complaint and while Ms * did pay some installments in advance she stopped paying before her balance was paid off. Had Ms * paid off her entire balance prior to the maturity date, she would have received a rebate of part of finance charges based on the payoff date.  This was disclosed on her contract. Prepayment: If you pay off early, you will not have to pay a penalty and you may be entitled to a refund of part of the Finance Charge.

  Ms * financed $3,562.92 with an interest rate of 21% which if paid on schedule would have been $1,269.72 in interest for a total amount paid of $4,832.64. Between 12/1/2020 and 10/19/2022 we received payments totaling $4,007.64. The final payment we received prior to charge off was on 10/19/2022, this left her with a remaining total balance of $825.00. We made numerous attempts to contact Ms. * prior to charge off and reporting to the credit bureaus. On 8/31/2023 we charged her account off due to non-payment. In May of 2024 Ms * made a payment of $817.16 to a collection agency. That left a unpaid balance of $7.14 which we waived as a courtesy to consider her account paid in full. Ms * paid a total of $4,825.50 and even though she paid off her balance after charge off and after the maturity date TIC assessed no additional interest. Had Ms * requested a payoff balance and paid her loan off before the maturity date, her payoff amount would have been reduced by the appropriate rebate amount using the actuarial interest calculation method.

  Ms * states they paid their account off early, this is not true and we provided a transaction history to Ms * previously showing this. Ms * had a closed end installment contract where the finance charges were disclosed on the contract along with a Prepayment disclosure. This was an installment contract where interest and interest rebates (for early pay offs) were calculated using the Actuarial Interest Method. Ms * claims this was charged off and reported on her credit with no notice to her. Numerous phone calls, emails, and letters were sent to Ms * informing her of her unpaid balance including a charge off prevention notice to which Ms * responded which confirms she received it. We have made every reasonable effort to resolve Ms *s complaint and provided extensive documentation refuting her claims. 

• Initial Complaint

  Date:04/11/2024

  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.

  My ex-wife and I got a loan from Time Investment for a standing freezer. The court ordered that she will be responsible for this debt alone. She took the freezer and everything that was financed. I sent in the document signed by the judge that I am no longer responsible for this account, and ********************** refuses to remove my name from the account. I have no responsibility for this account anymore, and it should not be in my name anymore.

  Business Response

  Date: 04/12/2024

  Mr. * and the former Mrs. * both contacted us requesting that Mr. * be removed from the loan based on their divorce decree. We explained to each of them that we do not remove names from loans based upon divorce decrees that govern the former spouses. When Mr and Mrs * initially obtained the loan, both parties assumed joint responsibility for its repayment. Divorce changes the relationship between spouses, but it doesnt automatically change their relationship with creditors. A divorce decree or property settlement may allocate debts to a specific spouse, but it doesnt change the fact that a creditor can still collect from anyone whose name appears as a borrower on the loan or debt. While we strive to provide excellent customer service and satisfaction, we were not able to approve the request to have Mr *'s name removed from the loan. When we last spoke with Mr * on 4/11/24, he paid the loan off in full. Now that the loan is paid in full we will report it as such to the credit bureaus during our next reporting cycle. We have followed up with an email response to Mr * which we have uploaded her also. Should Mr * have any questions he is welcome to reach out to us directly.

  Customer Answer

  Date: 04/12/2024

  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, details of the offer I reviewed appear below. 
  

  When a judge declares that an account is no longer my responsibility, it should be illegal to refuse to comply. I have nothing to do with this account anymore and holding me accountable is predatory. 
  
  Regards,
  
  *********************

  Business Response

  Date: 04/15/2024

  We are sorry to hear that Mr * is not satisfied with our response. As further clarification, a divorce decree is a judge's order to the former spouses and includes their written marital dissolution agreement with each other. It is not a court order to creditors. In Mr *'s state, the law requires a disclosure to appear in all divorce decrees that specifically addresses this matter. Specifically, it states, "Every final decree of divorce granted on any fault ground of divorce and every marital dissolution agreement shall contain a notice that the decree does not necessarily affect the ability of a creditor to proceed against a party or a party's property, even though the party is not responsible under the terms of the decree for an account, any debt associated with an account or any debt." At this point Mr. *'s loan is paid in full and therefore he has no further obligation to *31343738383730343530*. While Mr * may not agree with our response or decision, we believe we have explained our position. *31343738383730343530* does not remove names from loans based upon a divorce or divorce decree that governs former spouses. We expect all parties that signed a loan contract to remain responsible for its repayment until it is paid in full.While we continually strive to provide excellent customer service with a goal of customer satisfaction, we are not always able to say yes to every request. Should Mr * have further questions or concerns, we welcome him to reach out to us directly and request to speak with one our **************** managers.

• Initial Complaint

  Date:03/27/2024

  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.

  We paid over $11K to a food service delivery that also included a purchase of a freezer, our one account totaled $2052 to be paid, which I have an email showing that was the total, but we acutally paid $6788.02 the other account was $4832.64 which we also paid, so by my calculations we overpaid the account by $4,736.02. I have emailed them with all the details, and they concifmed they recevied the email but have not responded. Secondly, they issued a charge off that hit our credit report for $825 for account ending in #**** (the freezer account) which we clearly overpaid. They haven't responded to anything, I do have our bank statements showing the payments as well as the past emials showing what was owed. it's voluminous so if you'd like I am happy to upload

  Business Response

  Date: 04/02/2024

  After researching Ms. ** account history, it was found on 10/27/2020 Ms. * financed $2,052.00 for a food delivery service.   She made payments totaling $2,052.00, which paid that amount off on 3/1/2021.    On 4/5/2021 she added $4,762.00 for an additional food order to this account, she also received a credit from the dealer of $26.00 which was taken off her balance.  She paid this loan off on 10/1/2021.  The total amount she paid was $6,788.00.
  Ms. *a also took out a second loan on 10/27/2020 to finance a freezer.  The amount financed was $3,562.92 with an interest rate of 21%. Between 12/1/2020 and 10/19/2022 we received payments totaling $4,007.64.  The final payment we received was on 10/19/2022, this left her with a remaining balance of $825.00 on her loan. We made numerous attempts to contact Ms. * prior to reporting to the credit bureaus.   On 8/31/2023 we charged her account off due to non-payment.
  I have included her transactional detail which lists the payments we received for the account ending in 8844, so she can compare her records to the payments we received.  After Ms * has a chance to compare records we would encourage her to contact our ************* team regarding the balance remaining on her account. We will be happy to update her credit when her account is paid in full. 

  Customer Answer

  Date: 04/04/2024

  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, details of the offer I reviewed appear below.
  

  I called TIC, first they were super rude, put me in contact with another agency, who put me in contact with another agency.  I will pay this to resolve and have taken off our credit report, but I would request formally you provide all documentation that you sent to us informing of us of this oustanding balance, we clearly were good patrons, and paid very well and aggressively.  We will never do business with TIC or Passantes again and will be sure all know this.  I will be escalating to FTC.
  
  Regards,
  
  ***************************

  Business Response

  Date: 04/09/2024

  We have reviewed Ms. ** account history and reached out to her directly. We have provided a transaction history showing the remaining balance due is accurate. Ms. * claims she was never made aware of the remaining balance. We have provided her records of numerous calls, emails, letters, and statements that were sent to her. On 8/7/2023 we made a final email communication attempt to allow Ms. * to resolve her remaining balance and prevent charge off. I have included a copy of her email response to that communication.Her account was charged off on 8/31/2023. Ms. * wishes for her credit report to be corrected, however the information that we reported to the credit bureaus is accurate and correct. Once we receive the remaining balance due, we will update her account and the credit bureaus accordingly during our normal reporting cycle. 

• Initial Complaint

  Date:12/14/2023

  Type:Billing 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.

  I have automatic payments for my monthly payments with time investment CO. They have had problems with their system which does not load automatic payments and they even told me that they had the wrong number for my account number. In August they did not charge the account because according to them the automatic payment was not set up and in July I in a call asked for third time that please setup automatic payments. I ask for the record call and they toll me they cut the call on the part I mentioned my bank instructions. My account is clear I dont have any payments being or pass due. The report one week ago on December 7 a late payment for August and my credit score drop down -66 points. I demand from Time Investment to fix immediately that problem is affecting me a lot Im very careful with my credit and something like that destroyed my record. Also Im in the buying process for a new house and You can imagine how much this problem is affecting my purchase. Please help me with this issue thank *******************

  Business Response

  Date: 12/22/2023

  We have reviewed ************** account and confirmed that he was not setup on automatic payments when he missed his August payment. We have not had any issues with our system loading payments. When we recently spoke to ***********, he claimed he requested automatic payments when he spoke to a representative in July and made his July payment. There is no record of this request in the representatives notations. We made numerous attempts to contact *********** regarding the late payment prior to it being reported to the credit bureaus. When we last spoke with ************ on 12/14/23, we did inform him that as a one-time courtesy we had removed the late payment for August from his credit report. 

  Customer Answer

  Date: 01/02/2024

  [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,
  
  ******************* *************************
  

• Initial Complaint

  Date:05/20/2023

  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 contract supposedly was filed 02-14-23 . I had not paid anything, but I am been receiving letters stating that I owed a large amount of money specifically $ ********* , in the letter that I have in my possession, they insisted that I signed a contract but I did not sign anything. That day a young lady came in to my house to offer water filters but I did not accept it and suddenly while we were talking the lady and me, several persons started to get some equipment from a truck. She continued talking to me and in a few minutes they installed everything , there were a lot of people around my house, I am an old man and I was confused with all the crowd and I believe they took advantage of this, I would like for them to come to pick up the equipment and to cancel the account like and that my credit would not be affected, like I said before I did not sign anything, either electronically or manually. I received a call from someone about to make a payment but I asked him to come an pick the equipment up but he cut off the call. I swear to God that I did not file the application over the internet because I do not have access to a computer. they have not help me at all. the account number on the bill that I received is ************** one of the bills showed that I was enrolled in auto pay, and the money was tried to be deducted form my account but the bank did not pay because they did not locate the account everything is is very fictitious. also they sent me a note asking for me to call them to ask copies of the fake contract

  Business Response

  Date: 05/30/2023

  Mr. * signed a legal binding retail installment contract to purchase a water treatment system from ***** Systems on 2/14/2023. Time Investment Company was not present at the time of sale, however prior to financing the water system we did speak with Mr. *, in a verification call, on his cell phone ending in **** on 2/15/23. This call was on a recorded line and during the call Mr. * verified that the product was installed and that he was happy with his purchase. Mr. * also verified that he understood the purchase price, amount financed, and monthly payment he would be making. During the verification call Mr. * did not raise any concerns about the system, financing,or the signed contract. Mr. * did have until midnight on 2/18/23 to cancel this purchase. ***** Systems has verified that both Mr. * and his wife were present at that time of installation and stated the install took over 2 hours long to complete.  According to the dealer, at no point did Mr. * or his wife express any concerns or doubts.  We have made several attempts to reach Mr. * by phone since receiving this complaint but have not heard back from him.We encourage Mr. * to contact us at ************ to discuss any concerns he may have regarding the water system. We would be happy to work with Mr. * and the dealer to try and reach a resolution. 

• Initial Complaint

  Date:01/09/2023

  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.

  The business has not provided updated account information to the major credit reporting repositories since November 2022. The business claimed today in an email to me that they report updated account information by the 10th of each month. My loan was sold to a spinoff of this company called "**************************". Regardless, the business should update the correct balance to all the major credit reporting repositories as my balance has dramatically decreased to $1,601 as of January 9, 2023.

  Business Response

  Date: 01/18/2023

  After reviewing Ms. ** complaint, it was found, when her account was transferred to our servicing platform in Oct of 2022 there was a file issue relating to credit reporting.  This has now been fixed and we have corrected the credit reports of all those involved. We have double checked that it is now reporting correctly to all 3 credit bureaus and have responded to all credit inquiries that the accounts are now up to date. We do thank Ms. * for bringing this to our attention and do apologize for any inconvenience this may have caused her. If she would like more information we would encourage her to contact our ************* team at ************.

  Customer Answer

  Date: 01/18/2023

  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 confirm that you have now reported updated balance information for both the borrower and co borrower on the loan to all the major credit reporting repositories.
  
  Regards,
  
  ***********************

  Business Response

  Date: 01/19/2023

  As was stated in the first response there was a file error that caused the issue. The balance information for both Ms. * and the coborrower was updated and fixed with all three credit bureaus as soon as it was brought to our attention. We did monitor *********** to confirm that it was fixed. We can confirm that the balance is reporting correctly and the account is current; never late. We once again apologize for any inconvenience this may have caused, but everything is now reporting correctly.

• Initial Complaint

  Date:01/02/2023

  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.

  Time Investment financed a loan for a roof for my residence. The initial loan amount was $18,516.00 which began in October 2016 (************). Over the course of the last 6 years, I have paid my monthly payments, however, it seems that the accounting is not accurate. It appears that the company is double charging for interest and not giving full credit for payments made on the account. After conducting a reconciliation of the payments made on this account there is a discrepancy in the amount applied to principal and interest in comparison to the total amount paid.

  Business Response

  Date: 01/13/2023

  
  After doing some research on ******** complaint it was found that back when ******** account was transferred to our servicing platform Equitant in February ************************************************************************************************************************************* front of you to compare. Changes have been made to minimize the confusion when accounts are transferred.  Unfortunately, this did not help those who were in the system prior to the change being implemented.  I have asked that both transaction details be sent to Ms. ** and someone contact her to go over both so she has a clearer picture of her account.  We do thank Ms.* for bringing this to our attention and do apologize for any inconvenience this has caused her. If she would like to speak to one of our ************* Specialist, we do encourage her to call us at ************.
  

  Customer Answer

  Date: 01/26/2023

  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 accept this communication for **** *****'s complaint against Time Investment.  She spoke with you today and wanted to send this as you discussed..  She received an offer from Time Investment on January 19, 2023, where they offered her three (3) months of payments without interest and one (1) late payment forgiveness..  Although in their response to the BBB, they stated they would explain the billing procedures, during the conversation, this was not performed, just the abovementioned option, and they requested to make a payment at the time of the call. Ms. ***** finds this offer unacceptable and does not accept it as an answer to her complaint.  She would like a full review of the accounting practices used by Time Investment throughout her contract period.  Her primary concern is that she must be given full credit for all the money she has paid.  

  
  

  
  
  
  Regards,
  
  
  
  **** *****

  Business Response

  Date: 02/08/2023

  We do apologize that Ms. T did not have her account
  explained to her in detail as was promised when she called in on January 26th.  Because of this we did have our Collections
  Manager reach out to Ms. T to go over the transaction detail reports, explain
  each code and how the transactions were applied to her account before and after
  the transfer to the new servicing company.  Our Collections Manager offered to lower Ms. T’s interest rate to 0% for
  the next year.  He also offered to write
  off late charges for 6 months to a year that were assessed to her loan. He did
  agree to reevaluate her loan after 1 year if she agrees to make her monthly payments.
  This would keep her interest rate at 0%.  Our Collections Manager did give Ms. T his name
  and direct number to call him if she would like to accept his offer. We would
  be very happy to help Ms. T pay her loan off as soon as possible. We do hope
  she will take advantage of this offer.  
  

  Customer Answer

  Date: 02/10/2023

  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.
  
  
  
  

  Ms. ***** received a phone call on Feb. 8, 2023, from a Manager with Time Investment.  During this conversation, he offered her 12 months of payments without interest.  There was no addressing her primary concern that she has yet to be given 100% credit for the money she's paid towards the debt.  During the conversation, she felt the individual was verbally aggressive and attempted to coerce her into accepting the offer he was presenting.  At this time, an independent review of her financial records and the accounting used by Time Investment would be the only way to proceed. 

  
  

  She also received a letter from the BBB inquiring if she had heard from the company and if the terms were acceptable. I'd like you to please accept this email as a response to that communication. Please don't hesitate to contact Ms. ***** or me if you have any questions or need more information.

  
  
  
  Regards,
  
  
  
  **** *****