Nuvell Financial, Nuvell Credit Company LLC Constant & harassing phone calls Memphis Tennessee

We have a loan through Nuvell that we got about 2 years ago. All payments were made on time until last summer when we had $4000 worth of work done on our upstairs heating/cooling unit. We deferred 2 payments at that time at a cost of $160. I asked at that time to have our payment moved from the 5th of the month to the 25th due to a house payment that was due at the first of the month. I was told that would not be a problem that the request would be sent. The person I talked to at that time was very nice. I was told that after our deferred payments my next payment would be September 25th. I was also told I would have 2 payments added to the end of the loan but from other posts it does not look like that will be the case. I will just have to wait and see if we have a balloon payment at the end!

The Sept., Oct. and Nov. payments were made on-time or early dependent upon our bi-weekly pay checks. NONE were paid late according to the NEW payment date. Several days after the Nov. payment the calls started. I talked with the rude employee who told me all 3 payments were late. She reviewed the notes and informed me that the previous employee failed to submit a date change for the payment but she would do that right now & get the late payments removed. In Feb. I start getting calls again, it would seem the second employee also FAILED to submit the due date change correctly and to have the late fees removed. The third employee finally did her job and submitted the due date change which was approved.

Nuvell does not have a payment book but send monthly statements and that is sporadic at best. Like many others I discovered after several years of payments the principle is not going down much. I had been asking for a detailed payment sheet for over 6 months and received it after I told them I would not make another payment until I received it. I also received a copy of the loan agreement. Imagine my surprise when they sent a second sheet that the dealer did not provide. It was then that I found out that Nuvell has found a creative way to write loans that appear to be simple interest when they are in reality a rule of 78's. Rule of 78's loan pay the interest on the loan first and then apply remainder to the principle. When we first had the loan I was paying an additional $50 a month to pay it off early. NONE of those payments went to principle but to interest. They then figure the interest the next month on the balance due so I was basically throwing away $50 a month for the first year.

My payment was made on-line through my bank on the 25th of July (due date) I got my first call from Nuvell at 8:03 AM today. It would seem that since GMC dumped them that Nuvell has come up with creative ways to make money. My payments that were credited immediately before are now taking 10-14 days to download into their system. This allows them to charge a late fee each month.

I have sent 3 letters to Nuvell instructing them not to contact me by phone IF my payment is late. They continue to call because 'it's not noted in their system to stop phone contact'.

Their collection department is rude and frequently use threats and foul language. I now notify them & record all calls as this does cut back on some of the rudeness so you may want to tell them that even if you aren't recording. It is ridiculous that the calls start the first business day AFTER the payment is due. I have caller ID that tells me the number of times a call comes in per day. Nuvell's record is 23!! I have asked for a fax number and/or an email address so they can't deny getting the do not call request, but they refuse. I believe I have found the fax number on line and will update you as to how it goes.

Lisa
Mount Juliet, Tennessee
U.S.A.