Complaint Review: RateGenius - Internet
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- Author Not Confirmed
- RateGenius Internet USA
- Phone: 1-866-728-3436
- Web: http://www.rategenius.com
- Category: Loans
RateGenius Try to refinance, but now I owe TWO car loans on ONE car.... internet
*UPDATE Employee ..inside information: Miscoomunciation From Bank & Resolution Solved
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On January 13, I began the process of refinancing from Capital One to First Investors using RateGenius. I was assured this was a quick and easy process that would be done in ten days. I received a refinance offer on Jan 14, and I sent in the paper on Jan 15.
Time goes by, and I'm told on Jan 23 they sent the FULL payoff check to Capital One. I checked on Jan 28 on Capital One's website to see if I would get anything back. To my horror, it still says I owe over $30,000!
Meanwhile, I had already received a bill from my new bank, First Investors for the full amount of the loan that was *supposedly* paid off. And, their loan is even on my credit report by Jan 28!
I called RateGenius, who gave me the check number and the total payoff amount, claiming the check had been made out in that EXACT amount.
So here I am now, owing TWO car loan companies for the SAME car. Fraud!
This report was posted on Ripoff Report on 01/30/2014 12:32 PM and is a permanent record located here: https://www.ripoffreport.com/reports/rategenius/internet/rategenius-try-to-refinance-but-now-i-owe-two-car-loans-on-one-car-internet-1119605. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 UPDATE Employee ..inside information
Miscoomunciation From Bank & Resolution Solved
AUTHOR: rateGenius - ()
SUBMITTED: Friday, June 13, 2014
Hi,
This issue wsa closed and handled back on January 28th from Capital One. The customer had already contated us via FB long ago.
Our records and tracking verified we sent the payoff check to the bank for $30K; however, the bank's procedure is to process the payoff check ($30k) in two parts. Because rateGenius is only the liaison, not the bank, we were unable to have your payoff check processed in one lump sum of $30K.
Our records also show your loan officer called the bank for the customer to find a solution for the incorrect payoff amount, and the loan officer was told the same thing as the customer: That it's their standard procedure to process checks in two parts. After the loan officer verified the payoff check was for the correct amount, we reached out to the customer a couple of times by Jan. 30th, but didn't hear anything back from.
We're hoping that is solely because the issue was resolved shortly after the customer posted here and spoke with us.
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