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BBB Accredited Business since
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A BBB Accredited Business since
BBB has determined that Innovative Funding Services LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Factors that raised the rating for Innovative Funding Services LLC include:
- Length of time business has been operating.
- Complaint volume filed with BBB for business of this size.
- Response to 3 complaint(s) filed against business.
- Resolution of complaint(s) filed against business.
- BBB has sufficient background information on this business.
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||1|
|Total Closed Complaints||3|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||0|
Licensing, Bonding or Registration
This business is in an industry that may require professional licensing, bonding
or registration. BBB encourages you to check with the appropriate agency to be certain
any requirements are currently being met.
These agencies may include:
Consumer Credit Commission
2601 N. Lamar Blvd., Austin TX 78755
Phone Number: (800) 538-1579
Texas Department of Motor Vehicles (TxDMV)
4000 Jackson Ave., Austin TX 78731
Phone Number: 888-368-4689
Type of Entity
Limited Liability Company (LLC)
Business ManagementMr. Tim Janssen, President Mr. Rob McKie, COO
Auto Dealers - Used Cars Loans Consumer Finance & Loan Companies
Industry TipsBBB tips for buying a new or used car Navigating auto sales
14205 Burnet Rd Ste 400
Austin, TX 78728 (866) 504-3748 (512) 336-8700 Directions
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Types of Complaints Handled by BBB
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BBB Complaint Process
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Additional Phone Numbers
- (866) 504-3748(Phone)
Complaint Trends - Last 3 Years
Customer Review Trends
BBB Customer Review Rating plus BBB Rating Overview
BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.
|Customer Review Experience||Value|
|Positive Review||5 points per review|
|Neutral Review||3 points per review|
|Negative Review||1 point per review|
BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
BBB Letter Grade Scale
Star Rating scale
BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.
Problems with Product/Service
Read Complaint Details
Complaint: I applied for an auto refinancing and was told it was approved on 9/5/14 via email and was asked to call ***** ******* to move forward with the transaction. I called and left voicemails and replied back with emails but with no response. My credit report showed 2 inquiries regarding this transaction. I had to call their phone number listed on their website to locate ***** ******* and he claims he had tried to call me which is not true. He then tells me I could get the refinancing but with a ridiculous interest rate. I am getting refinancing elsewhere but my credit took a hit because of the inquiries.
Desired Settlement: I need to have those 2 credit inquiries removed.
September 29, 2014
RE: BBB response concerning credit inquiry
Dear Mr. *** & BBB,
As one of Credit Karma’s partners, we offer auto loans to people who apply using their site; we pull your credit to assist us in determining if your application meets the loan requirements. When you applied through their site, one of their disclosures in the “Terms and Conditions,” was to inform you that by applying using their site, you are allowing for Credit Karma partners to access your credit.
We adhere to IFS policy and agreements in place with Credit Bureaus, whereby the removal of valid inquiries is not an option. Indiscriminate removal of legitimate inquires “water down” the effectiveness of the Bureau and the reason we seek their information. In your case, I reviewed your supporting information and notes on our system regarding your applications. I have included in this response the pertinent sections from the Credit Karma website “Terms and Conditions” for you.
In this instance Mr. *** *** applied for auto refinancing on two separate occasions using a third party website “Credit Karma”. This website’s “Terms & Conditions” inform all applicants that when submitting an application using their site, the applicant is granting Credit Karmas’ partners (IFS) permission to pull credit to determine qualified applicants.
The first application was received Sunday night on 5/25/2014, a welcome email is automatically sent by IFS to the applicant that includes our contact information. This application was not completed fully and additional information was required to determine if Mr. *** would meet our lenders qualifications. An attempt to contact Mr. *** was made 5/27/2014 and again the next day 5/28/2014. The application was closed as non responsive after 6 pm on 5/29/2014.
The second application by Mr. *** was for auto refinancing for the same vehicle and used the same third party website to submit an application. We received the second application on 9/5/2014. A IFS Financial Advisor (FA) called Mr. *** within an hour of our receipt of the application. The FA reviewed the information with Mr. *** and sent it to our lenders for approval. That same day a phone message was left and an email was sent to Mr. *** stating we had an approval with both a lower payment and interest rate drop over his previous loan. Over the next eighteen days numerous attempts were made to contact Mr. *** to no avail. The application was closed as unresponsive. Three days later on 9/26/2014, Mr. *** called the FA and provided a better phone number to contact him. They went over the loan terms which dropped his loan payments and the interest rate 2.6% under Mr. ***’s original loan. Mr. *** requested for the FA to try to extend the term from 60 month loan to a 72 month loan and contact him back. The lender was not able to extend the loan to a 72 month term and the FA emailed that information to Mr. *** who never responded. Mr. *** then submitted a BBB complaint in an attempt to remove the May and September credit inquiries.
In an effort of goodwill and to continue our record of superior customer service, we at Innovative Funding Services would like to take this opportunity to thanks Mr. *** for his previous applications and rectify this issue by asking Equifax to remove both credit inquiries. We would also like to offer our services to Mr. *** in the future if the need arises.
Please contact me if you have additional questions.
Read Complaint Details
Complaint: As per my Equifax/Transunion/Experian credit report, Innovative Financial Services, obtained my credit file on 02/21/2013. I don't recall applying for credit, employment or insurance with this company. From the FCRA 616. Civil liability for willful noncompliance [15 U.S.C. 1681n] "(b) Civil liability for knowing noncompliance. Any person who obtains a consumer report from a consumer reporting agency under false pretenses or knowingly without a permissible purpose shall be liable to the consumer reporting agency for actual damages sustained by the consumer reporting agency or $1,000, whichever is greater." From the 1998 FTC opinion letter Greenblatt at http://www.ftc.gov/os/statutes/fcra/greenblt.htm"Any person who procures a consumer report under false pretenses, or knowingly without a permissible purpose, is liable for $1000 or actual damages (whichever is greater) to both the consumer and to the consumer reporting agency from which the report is procured." Please explain your permissible purpose for your obtaining my credit file. Should you not have a permissible purpose, please arrange for payment of $1,000 by December 31st, 2013. Sincerely, *****
Desired Settlement: Please remove all Inquires on my credit file for all reporting agencies as soon as possible. and explain your permissible purpose for your obtaining my credit file. Should you not have a permissible purpose, please arrange for payment of $1,000 by December 31st, 2013.