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Description

This company offers protection products, such as extended warranties and service contracts for automobiles, motorcycles, RV's, and travel trailers.


BBB Accreditation

A BBB Accredited Business since

BBB has determined that Portfolio 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.

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Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised the rating for Portfolio include:

  • Length of time business has been operating
  • Complaint volume filed with BBB for business of this size
  • Response to 17 complaint(s) filed against business
  • Resolution of complaint(s) filed against business


Customer Complaints Summary Read complaint details

17 complaints closed with BBB in last 3 years | 7 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 1
Delivery Issues 1
Guarantee/Warranty Issues 6
Problems with Product/Service 9
Total Closed Complaints 17

Customer Reviews Summary Read customer reviews

2 Customer Reviews on Portfolio
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 2
Total Customer Reviews 2

Additional Information

BBB file opened: October 23, 2013 Business started: 04/19/1994 in CA Business incorporated 04/19/1994 in CA
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:

California Department of Insurance
Consumer Services Division, 300 S Spring St, Los Angeles CA 90013
http://www.insurance.ca.gov
Phone Number: 800-927-4357
Fax Number: 213-897-5961
The number is 0F84414.

Type of Entity

Corporation

Business Management
Mr. Steve Burke, CEO Ms. Maysoon Ben-Ghaly, Operations Manager Ms. Brenda Griffith, Director of Operations Dan Haugen Ms. Tanya Stevenson, Manager
Contact Information
Customer Contact: Ms. Maysoon Ben-Ghaly, Operations Manager
Principal: Mr. Steve Burke, CEO
Number of Employees

107

Business Category

Auto Service Contract Companies Auto Warranty Plans Extended Warranty Contract Service Companies Auto Warranty Service

Alternate Business Names
Express Systems Inc Portfolio Protection
Industry Tips
Warranties

Additional Locations

  • 25541 Commercentre Dr #100

    Lake Forest, CA 92630 (949) 789-6220

  • THIS LOCATION IS NOT BBB ACCREDITED

    14651 Dallas Pkwy #502

    Dallas, TX 75254

  • THIS LOCATION IS NOT BBB ACCREDITED

    1930 S Alma School Rd #C105

    Mesa, AZ 85210

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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.
Details

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

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.

Complaint Detail(s)

4/30/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: IN OCT. 2015 I BOUGHT A **** FROM ***** ******* IN ******* **********. DURING THE CONTRACT TALKS THE SELLER OFFERED A SERVICE MAINTENANCE CONTRACT AND I BOUGHT IT FOR $1495.00. TRIED TO USE THE MAINTENANCE PLAN MANY TIME AND NOT ABLE TO USE, THIS HAS BEEN VERY FRUSTRATING. MY WIFE CONTACTED PORTFOLIO PROTECTION MANY TIMES TRYING TO RESOLVE PROBLEMS WITH PLAN. FINALLY PORTFOLIO SAID TO MY WIFE ********* IF I WANTED A REFUND I NEEDED TO FAX THEM A LETTER TELLING THEM WHY, WHICH I DID, BUT THEY WILL ONLY REFUND ME $684.75. I AM GETTING SCREWED, ALL I WANT IS WHAT I PAID FOR, BACK, AND IT LOOKS LIKE I HAVE TO TAKE THEM TO COURT

Desired Settlement: FULL REFUND

Business Response:

See attached

We received the complaint regarding Mr. *****’s cancellation refund on his
Express Carefree Maintenance Vehicle Value Care Plan.
The customer purchased this plan from ***** ******** **** ***** on 9/24/15
for $1495. The customer cancelled this plan on 3/15/16 which resulted in a
prorated refund of $1370.42, less a $50 cancel fee which was waived by
Portfolio. The portion of this refund that is Portfolio’s responsibility to pay is
$684.75. The remaining $685.67 is due from the dealership. If the customer
has difficulty obtaining their refund from the dealership, they may contact us &
we would be happy to assist them in contacting the dealership.
Portfolio issued a check for $684.75 to the customer’s lender on 4/13/16 for our
portion of the refund. This check was cashed on 4/20/16.
If there is any additional information we can provide or if you have any questions
please don’t hesitate to contact me.
Best Regards,
****** ********
Director of Operations
Portfolio

3/29/2016 Problems with Product/Service
1/16/2016 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I purchased a warranty from Portfolio through the auto dealer. A few months later the driver's side window wouldn't go up. The warranty covers the car bumper to bumper except for wear and tear (tires, belts, etc). Even though the problem is mechanical, Portfolio denied my claim. There's no reason why they should deny this claim and all I've heard back is no.

Desired Settlement: Approval of repair services and full payment of the cost of repair.

Business Response:

Please see the Attached

Dear Ms. *******:

This is letter in response to your complaint with the Better Business Bureau. Our records indicate you purchased the Portfolio Extended Service Agreement from ********** ***** **** on August 30th, 2015. At the time of sale, the **** ********** *** had 55,901 miles. The Hi-Tech coverage was selected for a term of 4 years or 48,000 miles.

On 12/23/15, **** from ********** ***** **** called to report a problem with your vehicle. They reported the left front window regulator needed to be replaced — which is not listed as a covered component on your Portfolio Agreement. In order to provide coverage for a needed repair, the replacement part must be specifically listed on your selected plan.

Here is the verbiage from the Agreement:

WHAT IS COVERED: Upon payment of the deductible amount per visit selected on the front of this extended Service agreement and before the expiration of this extended service agreement, the Selling Dealer will arrange for payment or make necessary mechanical repairs to the components listed below in the specific plan of coverage Selected, without additional charge to You. Replacement of any part may be made with new parts, remanufactured parts, non-Original manufacturer's parts, or with parts of like kind and quality at the time of breakdown. This Service Agreement covers failure to a covered component resulting from normal wear and tear.

W??? ?S ??? ??V?R?D

Any items not listed under the “What Is Covered” section of the specific plan You selected on the front of this Agreement.

I have included a coverage listing from page 2 of the Agreement and the exclusions from page 3.

The Agreement does not provide "bumper to bumper" coverage. It provides a specific list of all covered items.

After you review the attachments, if you have any questions or need any additional information, please do not hesitate to contact me at our Dallas office (800) 335-8769.

Sincerely

**** *****

Portfolio

 

12/22/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: Violation of Contract obligation to make payment. State of ********** Law states: "There at this time, no expiration date on collection from Express Gap." The vehicle was a **** ***** ***. It was purchased on October 22, 2005. Total loss date: November 24, 2010. I was told by the Business I "do" qualify. The Business request 9-10 documents, including calling the bank and setting up a conference call to obtain private records, called by primary carrier, and then What I provided from the ********** Highway Patrol Office was not enough, I had to travel to the ********* (************) ********** Highway Patrol Office to obtain another document. After meeting all requests, the Business then, informed me "no worries," fill out the last form, which was a statement of the accident. Then denied me rudely, as well as sent a copy to ***** to a man Named *** ** Why?The claim was entered October 7, 2015, total loss date was November 24, 2010. The reason for late entry request is due to a health issue that began in 2009, as well as injury at time of accident.Why tell me I qualify and ask for more documents then required on the contract? Set up conference calls? Call my primary insurance company? Not accept credit report showing all timely payments and pay-off? Demanded 22 pages of bank copies for Payment verification? with a conference call?

Desired Settlement: My primary insurance covered the final payoff of $5,774.23. When I research the contract I purchased October 22, 2010 for EXPRESS GAP (separate entity) I obtained the above information. This policy at that time is described ans states "it will pay the final balance up to $50,000." The newest information with this Business has changed, but is not applicable to the time of the total loss. I am covered under the contract at the time of the total loss. Support scenarios on their website.

Business Response:

Thank you for your message.  Please see the attached response to the complaint.

 

Feel free to contact me with any further questions.

 

***** *********

************

Dear Ms. *****,
We are writing in response to the BBB Complaint filed against our company by customer **** *******. In her complaint she states that we denied her GAP claim for the expiration of her GAP contract. Ms. ******** GAP claim was not denied. Please see the details of her GAP claim.
On 10/7/2015 **** ******* contacted Portfolio to open a GAP claim for an accident that took place in November of 2010. She was given a list of the documents required to process her GAP claim. She was told that her specific contract did not expire and that we would process her claim according to the contract terms. The documents required to process her claim, are the same documents required to process all similar GAP contracts for Portfolio. We explained to her several times throughout the claims process that we understood that it was difficult for her to collect the documents we needed due to it being so many years after the date of the loss, but that we still needed the documents in order to process the claim. It is the responsibility of the customer to collect the required documents and send them to us so that we may send the claim to the underwriting department for review to determine if the claim has an amount payable under the terms of the contract. We had correspondence with Ms. ******* on 10/7/15, 10/9/15, 10/12/15, 10/15/15, 10/16/15, 10/19/15, 10/23/15, 10/28/15, 11/10/15, 11/16/15, and 11/17/15 before the claim was sent to the underwriting department. In each of these correspondences she was advised of the documents missing to process her claim. Our claims administrator made several outbound attempts to call her lender and insurance company to help her obtain the necessary documentation.
We received the final document on 11/18/15 and the claim was sent to the underwriting department for review. On 11/18/15 the underwriters reviewed the GAP claim and determined that the claim was a “No Deficiency". Per the terms of Ms. *******'s GAP contract: In the event of a total loss to the covered vehicle, we agree to waive our rights against you for the amount waived under the Financial GAP Program which is equal to the difference between your outstanding balance and the greater of (1) the primary insurance settlement plus any amounts deducted from the settlement for pre-existing damage, or (2) the actual cash value for the a covered vehicle on the date of foss. Ms. *******'s unpaid loan balance at the date of the loss, per her complaint, was $5774.23. Her insurance company issued a total payment of $18,860.24 for the value of her totaled vehicle. Her lender was sent a check in the amount of $5774.23 to pay off the balance of the loan, and Ms. ******* received a check in the amount of $13,086.01 from the insurance company. There was no “GAP" or deficiency in her loan for Portfolio to assist with. On 11/19/15 and again on 11/23/15 Ms. ******* spoke with members of management at Portfolio. They diligently tried to explain how GAP contracts work, that her claim was not being denied due to the age of the claim, and that we did not know throughout the process of collecting the documents that her claim would result in a "No Deficiency". She continued to state that GAP insurance is to pay her the loan balance at the date of the loss regardless of the insurance settlement amount paying off her balance.
Despite the efforts of management, Ms. ******* would not accept our explanation of what GAP covers, nor was she willing to accept that we processed her claim based of the contract terms she agreed to. It was clear that she was confused about the purpose for GAP insurance and we were not able to Satisfy her request.
At this time Portfolio has done its due diligence in processing and adjudicating Ms. *******'s GAP claim. There is no new information that would change the outcome of the “No Deficiency" determination. We are sorry that Ms. ******* is not satisfied and hope that this clarifies the claim status.
Please contact us if you have any additional questions.

Sincerely,

***** *********

*** ****** **********

Consumer Response:

Dear Ms. ********* *****,

In reference to the response from Portfolio EXPRESS GAP, terms and conditions apply at the contract TIME of PURCHASE and LOSS:  Purchase Date:  10-2005
                                                               Loss Date:  11-24-2010
They have not held to the Contract.  Their changes in reference to current day, October 2015, does not apply.  My Contract terms did not expire at the time of loss and under the intentions of only covering the vehicle if there was an outstanding amount due after payoff.  The ********** State Law 2010 and current,  states:  "There is not an expiration to date."  Only one state has a expiration cut-off date.  The EXPRESS GAP contract is at the TIME OF LOSS, the financial Contract of the vehicle held 72/84 month expiration. 

I would also like to include a notation:  " Primary Insurance on a new vehicle is mandatory at the FULL COVERAGE" minimum.  Therefore, third party coverage was purchased by me to cover any remaining loan amount due at the time of loss.  Those were and are the terms of the contract in 2005 to present date.  If I carry full coverage insurance, then "Why would I pay for GAP insurance?" I wouldn't, but I would purchase "EXPRESS GAP," under the dated terms and conditions at the time of loss.  Elapse Time:  60 months, not 84.


Sincerely,
**** ** *******

Business Response:

In response to Ms. *******,

There is no deficiency and her loan was satisfied by her primary insurance settlement.  Express GAP would have covered a deficiency had there been one.  Her claim was NOT denied for expiration of the contract as she stated. Simply, her insurance company paid off her loan balance at the date of loss.  There was no deficiency in her loan for GAP to pay.  If we had processed the claim in 2010 at the time of the loss, the outcome would have been the same as it is today.

Please contact us with any further inquiries.


***** *********

************

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

Dear ********* *****:

In response to Express Gap's reply received Dec.10th, had a claim been filed in 2010, according to their contract I would have received services then, as well as, qualifying now under the terms and conditions dated October 22, 2005. Again, I would like to remind you, "The ********** State Law" RECOMMENDS— (NOT REQUIRED):

"That you turn your claim into your purchased additional coverage company, which in my case is under the rules, laws and services backed by the State of ********** not having an expiration date at this time, exception: "if it bypasses the 72/84 months at time of LOSS or if it is already paid before a total loss, namely-EXPRESS GAP." Please read the contract I sent to you. This is "NOT TRADITIONAL GAP" by which it clears a deficiency in payoff if you owe more for the car than what it is has been determined through the PRIMARY CARRIERS EVALUATION VALUE.

When I signed for a reimbursement 12-2011 for additional warranty services, I asked the ***** Dealership rep., ****** about the Express Gap and she replied: "They didn't handled that," therefore, according to the paperwork I have provided you with shows that the additional warranties I purchased, which are the following: Express Gap, Extended (Mileage/84m) Warranty, and Express Care all are provided through Portfolio. Therefore, major contract violation as well as misleading information given by ***** at the time the paperwork was turned in for the Extended Warranty in relationship to provided the same for EXPRESS GAP. Through my research, I have found that EXPRESS GAP cannot deny my claim because it is not considered a deficiency. Ask them: " EXPRESS GAP CONTRACT 2005 vs. GAP 2015? RESEARCH.

Regards,

**** *******



11/28/2015 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: I purchased a used 2012 ***** **** ******* form a used sales dealer called ****** **** ****** in ********* **. When I purchased the van I was offered a warranty protection plan via brochure that showed over 1000 components covered with a picture also showing items and providing a potential cost to repair such as engine, drive axle overhaul, transmission, water pump and for this complaint, most important, the computer module which showed an estimate report cost at 1,670. I agreed to the coverage protection and signed a 6 page contract, number **** 673507. The contract offers 3 plans. Plan D, plan E and plan F which covers the other 2 plans plus more. Now like most consumers I have a dealer sales pitching what is covered in the brochure and then has me sign an agreed upon contract which I did not read 6 pages of "small print". 1 and a half years later the engine light comes on, I take the van to the ***** dealership, get told that the computer module is going bad and needs to be replaced which will cost 1,340 dollars by ***** * ****** ***** in ********* **. Portfolio Protection says the computer module is not covered yet it's electronic and pictured as 1 of the examples in the brochure. I contacted 2 lawyers since I've paid 1,599 plus 7 percent interest for this contract and now i'm being told there is no coverage for the computer module. The lawyers advised me that the way the contract is worked on page 2 and 3 states that electronic parts are covered but it does not state a list of the 1,000 parts. The company states that if the contract does not say word for word the part covered then it's not covered. This seems to be a scam to the consumer as thousands of people are buying these contracts stating "electronic parts" are covered then later told well we didn't specify that the computer module is covered. I know BBB can't help me with this but I'd like a refund, the brochure and contract re-written and people to be aware of this company scam.

Desired Settlement: I would like a refund of my contract money of 1,599 including the 7 percent interest being paid on this contract. I would like the company to change the brochure they advertise and to specify word for word in writing in their contract what exactly they do cover and do not cover part for part. This company may be making millions off people then denying claims.

Business Response:

Please see the attached response. Thank you,

Dear Mr. *******:


This is letter in response to your complaint with the Better Business Bureau. Our records indicate you purchased the Agreement from ****** **** ****** in ********* ******* on May 3", 2014. At the time of sale, the 2012 ***** ***** ******* had 62,130 miles. The Hi-Tech coverage was selected for a term of 3 years or 36,000 miles.


On 10/19/15, ****** from ***** ****** ***** called to report a problem with your vehicle. They reported the check engine light was on and a vacuum pump circuit code was stored. They recommended replacing the PCM (Powertrain Control Module) — which is not listed as a covered component on your Portfolio Agreement. In order to provide coverage for a needed repair, the replacement part must be specifically listed on your selected plan.


Here is the verbiage from the Agreement:


WHAT IS COVERED: Upon payment of the deductible amount per visit selected on the front of this extended service agreement and before the expiration of this extended service agreement, the Selling Dealer will arrange for payment or make necessary mechanical repairs to the components listed below in the specific plan of coverage selected, without additional charge to You. Replacement of any part may be made with new parts, remanufactured parts, non-original manufacturer's parts, or with parts of like kind and quality at the time of breakdown. This Service Agreement covers failure to a covered component resulting from normal wear and tear.


W??? ?S ??? C?V?R?D:

Any items not listed under the “What Is Covered” section of the specific plan You selected on the front of this Agreement.


The Agreements lists general exclusions under WHAT IS NOT COVERED, but we do not attempt to list every item that is excluded. That is why we list each component in order to provide coverage.

The brochure States: SEE YOUR EXTENDED SERVICE AGREEMENT FOR ALL DETAILS OF COVERAGE AND BENEFITS. It also lists the exact language as the Agreement under each of the coverage levels. The repair cost example you referred to is a Computer Module. The part needed for your vehicle was the Powertrain Control Module.


Per your desired Settlement: We will consider changing the brochure repair examples listed to eliminate confusion in the future.


You also asked for a 100% refund. If you choose to cancel the Agreement, you would receive a pro-rated refund as stated in the Agreement. ****** **** ****** can help you start the process.

If you choose to keep the Agreement, it is valid until 5/3/2017 or 98,130 miles — whichever occurs first.

If you have any questions or need any additional information, please do not hesitate to contact me at our ****** office ***** ********.

Sincerely,

**** *****

Portfolio

10/10/2015 Problems with Product/Service | Complaint Details Unavailable
9/23/2015 Guarantee/Warranty Issues | Read Complaint Details
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Additional Notes

Complaint: I purchased an exteded service aggreement from Portfolio. My vehicle, 2008 *** ******, has recently broken down and Portfolio is refusing to cover items covered under warranty stating that I have maintained the vehicle poorly. I have only owned the vehicle aprox 20,xxx miles and have had the part in question replaced aprox 14, xxx miles ago. I have given them all records of maintainence that fall well within manufactuers recommendations. I have tried to make a few other claims with the company with poor outcome every time. I have had to pay for 3 other repairs that were all covered parts.

Desired Settlement: I would like to have portfolio cover the repairs as stated in our contract or give to me in writing showing that my repairs are being denied to to failure to maintain vehicle by manufacturers recommended intervals.

Business Response:

Please see the attached:

Dear Mr. *******:

This is letter in response to your complaint with the Better Business Bureau. Our records indicate you
purchased the Agreement from Premier Auto in ********** ******** on January 281h, 2014. At the time
of sale, the 2008 *** ****** had 78,391 miles. The Hi-Tech coverage was selected for a term of 3
years or 36,000 miles.

I have reviewed the pending claim and your claims history. The claim in question occurred on 7/30/15.
******* ***** *** called to report the claim on 8/03/15. They asked for $2,872.27 for repairs to the
engine and timing chain. They detailed failures to the Rear Timing Chain, Valves and Rocker Arms.

On 8/04/15 we referred an Independent Inspector to assess the failures and verify the recommended
repairs. He inspected the vehicle, called to provide a verbal report and submitted a written report detailing
his findings. He observed "sludge" in the engine and also noted failures resulting from oil starvation.

The following day, on 8/06/15, we requested all maintenance receipts. On Page 3 of the Portfolio
Extended Service Agreement is states:

MAINTENANCE RESPONSIBILITIES: If You fail to perform the manufacturer's recommended
maintenance such as oil changes and other periodic services and Your failure results in a
breakdown, this will result in loss of Your protection under this Extended Service Agreement.
Maintenance records from the Vehicle sale date supported by receipts indicating dates, mileage and
services performed must be kept by the purchaser or subsequent owner of this Extended Service
Agreement and made available to the Selling Dealer or repair facility upon request.

You called the Claims Department on 8/12/15 and advised that you perform many of the oil changes
yourself. As stated above, the receipts and a log sheet must be kept to document the dates, mileage and
services performed. There were no documented maintenance between the previous timing chain repair
on 5/15/14 and the current repair on 7/30/15. The vehicle has been driven 17,014 miles since that repair.

After reviewing all of the information from ******* ***** *** and the Independent Inspection report,
per the terms of your Portfolio Vehicle Service Agreement, the claim was denied for failures caused by a
lack of lubrication.

You have had previous claims approved and paid by your Portfolio Agreement, including:
5/15/14 - $1,804.44 approved at ******* ***** *** for the Timing Chains and Guides.
2/18/15 - $ 418.84 approved at *** **** ****** for repairs to the Navigation System.

Your claims history lists the (2) repairs that have been denied. They were both related to the radio and
amplifier. The Agreement lists all items which are covered, but it does not include the audio components
that were requested.

I have included a copy of your Agreement, along with the detailed coverage and provisions.

If you have any questions or need any additional information, pl ease do not hesitate to contact me at our
Dallas office ***** ********.

Sincerely,

**** *****

Portfolio

Cc: BBB San Diego, Orange & Imperial Counties
Attn: ********* *****
**** ********* *** ****
*** ****** ** **********

8/4/2015 Guarantee/Warranty Issues | Read Complaint Details
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Additional Notes

Complaint: I purchased GAP insurance with Portfolio from the dealer when I bought a new car. My car was totaled in January 2015. I was required to gather documents from the dealership, lender and auto insurance companies. I was told they would have to fax all docs directly (no email). I contacted all parties and followed up with them all stating that all docs were sent. When contacting Portfolio they indicated that they had not received most of the docs. This cycle happened numerous times in the months to come. I gathered and "emailed" docs to have a digital record. In April 2015 a good majority of the docs were finally posted to the website claim information screen along with a note that no further action would be taken by Portfolio due to missing docs. In my recent follow up with Portfolio in July 2015 I have a new rep that is handling the claim and although all docs have been received they are stating that there are discrepancies in the paperwork. I was able to pull up emails that were sent back in January that show no such discrepancy (not the first time I resent the paperwork and had email record). Although my rep was responding daily to my emails it seems in the last few days now that all docs are received and there are no discrepancies I have not received any responses. It is now July 23, 2015 and my GAP claim that was opened on January 5, 2015 still has not been paid. I believe I paid more for the insurance than the claim pay out will be and I have spent 7 months with an unpaid balance on my loan. Most gap insurance companies pay claims as quickly as the auto insurance, not this one. This has not been a pleasant experience and I am left to wondering if the company is reputable and will ever pay my claim. Please beware of purchasing anything from this company!

Desired Settlement: Pay the claim.

Business Response:

Please see the attached response.

July 24, 2015

Better Business Bureau
Attn: C******** *****
4747 Viewridge Ave, #200
San Diego, CA  92123-1688

RE: BBB Complaint ID # ********
******* **********, GAP Contract #*********

Dear Ms. *****:

This is a summary regarding the complaint made against our company by customer ******* **********. She is unsatisfied with the processing time of her GAP claim. Per the terms of the contract it states:

“You must provide the following to the Express Systems, Inc Program Claims Administrator, 1. A copy of Your Primary Carrier’s settlement showing all additions and deductions for the settlement amount and a copy of Your Primary Carrier’s check. If You do not have Primary Carrier insurance, a copy of the police theft or accident report that identifies Your Vehicle by its vehicle identification number (VIN) must be submitted; 2. A copy of this GAP Addendum; 3. An entire copy, front and back, of the original Contract; 4. A copy of Your Primary Carrier’s Declaration Page, listing the coverage, deductible and agent’s phone number; 5. The name and address of the Lienholder and Your account number with the Lienholder; 6. The pay-off balance of Your Contract as calculated by the Lienholder at the Date of Loss; 7. A history of Your Contract showing all payments made, late charges and fees; 8. A copy of refund checks and/or authorized cancellation forms confirming the refund amount for any credit insurance, mechanical repair coverage or other similar products that were purchased and included in the financing or lease of the Covered Vehicle. (Contact the Dealer that sold You the coverage.); 9. For new Vehicles only, if available, a copy of the window sticker or Vehicle invoice showing the Manufacturer’s Suggested Retail Price. (Contact the Dealer that sold or leased You the Vehicle.) Proof of loss must be submitted within ninety (90) days of the date of settlement by your Primary Carrier or Date of Loss, if you do not have Primary Carrier Insurance, but in no event later than one year from the date proof was due as indicated above.

The claim was opened on 1/15/15; we started to receive some of the required documents starting in April 2015 and the remaining documents in July 2015. Please see the internally received dates on the attached document checklist.  The last required document was received on 7/23/15 and it was sent to Underwriting for review.
In an effort to satisfy this customer’s request, we expedited the processing of this claim. A refund will be sent to the lender on 7/24/15.
We have requested that Ms. ********** contact you once her lender receives the GAP payment to close out the complaint and confirm that she is satisfied with the resolution. If you have questions or need any additional information, please do not hesitate to contact me at ***** ********.

Thank you,



******* *********
********** *******
************

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

The business response I received was "Please see the attached response." and there was no attachment included in email. No other content.

Regards,

******* **********



Business Response: Unfortunately it seems you were unable to open the attachment we sent. Please see the below response that was copied and pasted from the response.



July 24, 2015

 

Better Business Bureau

Attn: ********* *****

4747 Viewridge Ave, #200

San Diego, CA  92123-1688

 

RE: BBB Complaint ID # ********

******* **********, GAP Contract #*********

 

Dear Ms. *****:

 

This is a summary regarding the complaint made against our company by customer ******* **********. She is unsatisfied with the processing time of her GAP claim. Per the terms of the contract it states:

 

You must provide the following to the Express Systems, Inc Program Claims Administrator, 1. A copy of Your Primary Carrier’s settlement showing all additions and deductions for the settlement amount and a copy of Your Primary Carrier’s check. If You do not have Primary Carrier insurance, a copy of the police theft or accident report that identifies Your Vehicle by its vehicle identification number (VIN) must be submitted; 2. A copy of this GAP Addendum; 3. An entire copy, front and back, of the original Contract; 4. A copy of Your Primary Carrier’s Declaration Page, listing the coverage, deductible and agent’s phone number; 5. The name and address of the Lienholder and Your account number with the Lienholder; 6. The pay-off balance of Your Contract as calculated by the Lienholder at the Date of Loss; 7. A history of Your Contract showing all payments made, late charges and fees; 8. A copy of refund checks and/or authorized cancellation forms confirming the refund amount for any credit insurance, mechanical repair coverage or other similar products that were purchased and included in the financing or lease of the Covered Vehicle. (Contact the Dealer that sold You the coverage.); 9. For new Vehicles only, if available, a copy of the window sticker or Vehicle invoice showing the Manufacturer’s Suggested Retail Price. (Contact the Dealer that sold or leased You the Vehicle.) Proof of loss must be submitted within ninety (90) days of the date of settlement by your Primary Carrier or Date of Loss, if you do not have Primary Carrier Insurance, but in no event later than one year from the date proof was due as indicated above.

 

The claim was opened on 1/15/15; we started to receive some of the required documents starting in April 2015 and the remaining documents in July 2015. Please see the internally received dates on the attached document checklist.  The last required document was received on 7/23/15 and it was sent to Underwriting for review.

In an effort to satisfy this customer’s request, we expedited the processing of this claim. A refund will be sent to the lender on 7/24/15.

We have requested that Ms. ********** contact you once her lender receives the GAP payment to close out the complaint and confirm that she is satisfied with the resolution. If you have questions or need any additional information, please do not hesitate to contact me at ***** ********.

 

Thank you,

 

 

 

******* *********

********** *******

************

25541 Commercentre Dr., #100

Lake Forest, CA 92630

Toll Free ***** ********

Fax (480) 897-7507

 

 

 

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

I would like to make corrections to Portfolios previous response.

1) Claim was opened on 1/05/2015 (I have email proof even though they have removed this info from website claim information)
2) All documents were received by 1/28/2015 with exception of window sticker MSRP invoice and settlement check copy (both not available through Dealer, Finance Co or Auto Insurance) Copy of check became available at later date and window sticker MSRP invoice information was finally retreived via an alternate document source (which was not given as an option until July 2015)
3) 2/2015-7/2015 I made multiple attempts to verify that all docs were received by Portfolio. This was almost impossible as the Dealer, Finance Co and Auto Insurance would say that they sent the docs via fax as requested and Portfolio would deny receipt. I started asking for the docs to be sent directly to me so I could have an email trail.
4) Website claim information was not updated with docs received back in January until 4/16/2015 and posted as received on 4/16/2015. I have email proof that the website claim date information is incorrect as some of the documents were emailed.  
5) It seemed that once the requested docs finally posted then there was additional documentation requested that were not originally requested and prolonged the process. 
6) I checked the website claim information and can now see that Portfolio is stating "A check is being issued for $131.92 and will be mailed to Kia Motors Finance in approximately 7-10 business days. A detailed breakdown has been sent to both them & to the customer."

I have not yet received the detailed breakdown that they speak of but I hardly think that the cost of the insurance and the 7 month fight to get the claim payed was worth $131.92. I have not been able to verify that this covers the "gap" that was $1173.37 last time I checked. So it would seem that this company tries to stretch out the payment of claims to the "one year" time limit and if you are savvy enough to report them they make false statements to cover their shady dealings and then make a payments that do not actually cover your "gap". Once I get the breakdown and verify the payment and balance with my finance company I will update my response.

Regards,

******* **********



7/30/2015 Guarantee/Warranty Issues | Read Complaint Details
X

Additional Notes

Complaint: This experience with Portfolio Co has delivered an unjust treatment to me (their client) on my total lost of my **** ***** ********* **** **. Portfolio Co has denied my claim for said reason of exclusion to fulfill their fiduciary responsibility to me. They denied my processed claim for the exclusion in the contract section 10, stating, "To any losses resulting from any repairing, restoration, or remodeling process, structural, normal wear and tear, freezing, mechanical or electrical breakdown or failure unless fire or other accident ensues, and then only for the loss or damage caused by such fire or accident. The total loss resulted from such accident. Now, I'll be short to tell you what happened. My driver front axis snapped while backing up into the driveway. As a result from the snapped axis accident, the frame warped beyond reasonable repair from dragging the ground in a torque position, thus resulting in a total loss, the accident of the frame tearing through the road warping the frame should justify the claim.The claim was submitted on the 5/29/15 to the underwriter for processing, which has a 30 business days processing time once they receive the claim, which is unreasonable. When they finished processing my claim on 7/16/15 for denial, I received no call or email stating the final claim. I called them to check my status. My whole experience with Portfolio Co is horrible, so much so that I'm compelled to share on all my social media pages and tweet my followers and fans everywhere to seek a better company than Portfolio Co for better service and products. I've waited 35 business days to only found out that my claim has been denied. Shame on you Portfolio Co!

Desired Settlement: Paid my claim

Business Response:

See Attached response to the complaint.

Dear Ms. *****:

This is a summary regarding the complaint made against our company by customer ***** *****. He is
unsatisfied with the processing results of his GAP claim, as it was denied per the Terms & Conditions of
the contract. The basis for the denial is stated under EXCLUSIONS on the reverse side of his contract,
which state the following:
This GAP Addendum does not apply:
10. To any losses resulting from any repairing, restoration, or remodeling process,
structural, normal wear and tear, freezing, mechanical, or electrical breakdown or failure
unless fire or other accident ensues, and then only for the loss or damage caused by such
fire or accident.
The total loss of Mr. *****' **** ********* ********* was due to an axle breaking, upon which his
insurance company, ***** ****, determined the cost to repair it was greater than the vehicle value. As
per the terms above, no accident or fire ensued when the axle snapped.
The processing time of 30 business days that our company quotes is an estimated timeframe only. The
claims are submitted to the adjusters and then processed in the order they are received. Additionally, the
adjusters occasionally encounter discrepancies, errors, inconsistencies, and ambiguities that need
clarification, upon which additional information must be collected to accurately process the claim. Mr.
*****' claim extended beyond the typical 30 business days due to the fact that the adjuster ran into
inaccurate information regarding the vehicle's equipped options and trim level. Our underwriting team
made several attempts to reach out to the primary insurance adjuster for the additional information that
was needed regarding the vehicle's total loss.
After reaching out to Mr. *****' primary insurance adjuster in regards to the details of the vehicle's total
loss, we stand by our decision to deny the claim based on the fact that the total loss was due to the
vehicle experiencing a structural and/or mechanical breakdown with no link to a collision or fire.
If you have any questions or need any additional information, please do not hesitate to contact me at
***** ******** , ext. ***.
Sincerely,
******* **********
*** ***** ********
Portfolio

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

[I'm not satisfied with this resolution, because the accident that result into a total loss didn't have from any of the EXCLUSION in section 10. The accident resulting a total loss of the vehicle happened from the frame being torque beyond reasonable repair from the frame dragging through the asphalt. This claim should be paid, immediately. ]

Not satisfied at all,

***** *****



Business Response: Our position has not changed. We addressed the complaint and outlined the exclusion on the agreement.

Consumer Response: Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

[I'm not satisfied with whoever is the decision maker at Portfolio Co for continuing to not fulfill their obligation to me, their client. If Portfolio wasn't going to satisfy the claim, why allow almost 2 months to pass to arrive at as such conclusion. This is totally unacceptable from any company that wants longevity in business.]

Still not satisfied,

***** *****



7/20/2015 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: I purchased GAP insurance for Portfolio for $1,000 in December 2013. In September 2014 my car was totaled. After my primary insurance paid their portion there was a $900 balance. I have to email and call Portfolio several times before I get any type of response. The claim has been pending for 8 months. Portfolio wanted my car reassessed by my primary insurance company because the initial assessment did not indicate if my car had power seats or not. Portfolio never called me to inform me this was the delay. The original paperwork for the claim was submitted in December 2014 and I was never contacted to inform me that there was a delay. I submitted the documentation in May after contacting a Dodge dealer and giving them my VIN number to list all options on the car. I still have not had any response from the company. I have been dealing with *** ******** as stated previously he does not respond for days if at all. I have 8 emails to *** since May 8th and 10 more between December and April 30th. There is no indication where my claim stands.

Desired Settlement: I would like my claim paid out in full or a complete refund for my policy.

Business Response:

This is a summary regarding the complaint made against our company by customer *** *******. She
is unsatisfied with the lack of communication by her GAP administrator.

The processing of her claim took longer than the 30 business days that we typically quote due to our
underwriter requiring additional information from the selling dealership and primary insurance carrier. We
made repeated requests to them, to no avail. After Ms. ******* was able to confirm the necessary
information, the underwriters were able to process the claim. There appears to have been confusion that
hindered Ms. *******'s notification that her claim processing was being delayed.

After receiving and researching the complaint, we reached out to Ms. ******* via telephone on 7/15/15.
I apologized that more follow up did not occur and advised her that our company wanted to rectify the
situation. We confirmed with the lender, Arizona Central Credit Union, that her current loan balance was
$923.65. On 7/15/15, a check was issued to the lender.

I have requested that Ms. ******* also contact you once her lender receives the GAP payments to close
out the complaint and confirm that she is satisfied with the resolution. If you have any questions or need
any additional information, please do not hesitate to contact me at (877) 705-4001 ex ***.

Sincerely,

***** *********
GAP Claims Supervisor
Portfolio

Consumer Response:

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.

Regards,

*** *******

6/17/2015 Guarantee/Warranty Issues | Read Complaint Details
X

Additional Notes

Complaint: I add GAP insurance with Portfolio. My car was totaled in September. I gather all the required documents. I was told on 12/30/2014 that my GAP was being processed only to be told by Lender the GAP claim had not been paid. I follow up with Portfolio. They tell me they want the car re-evaluated by the insurance company. So I called my insurance company they do another evaluation. Portfolio was sent this information on 2/17/2015. It is now May 8, 2015 and my GAP still has not been paid. I'm now getting collection calls. When I check Portfolio's claim website my GAP claim ********* has not been updated since 01/06/2015. This has been a complete disaster. Their customer services leaves a lot to be desired. This whole process has stressed me out and has ruined my credit. The public needs to be aware of rip off companies like Portfolioco.

Desired Settlement: I would like for them to do what I paid them to do which is pay my GAP claim. It would be nice to receive compensation for the pain, suffering and stress I've gone through. I was denied a loan because my credit score had dropped thanks to this mess.

Business Response:

This is a summary regarding a complaint made against our company by customer ****** ***** on 5/8/15 with the
Better Business Bureau. A claim was opened under the customers GAP contract on 9/15/14. We received the last of the
required documents on 12/ 30/14 and the claim was sent to the underwriting department for review. The claim was
kicked back by the underwriters on 1/26/15 for missed options that the primary insurance company is responsible for.
We made several call attempts to the primary insurance carrier to have the vehicle reevaluated for these missed
options. ****** ***** was notified on 2/16/15 via telephone and on 2/17/15 via email and telephone that we were
working on obtaining the vehicle reevaluation and have been unsuccessful in our attempts with her primary insurance
company to obtain the required revised evaluation. On 2/19/15 ****** exchanged emails with her GAP administrator
stating that her insurance company will be sending a supplemental check to the lender. The administrator told her that
we need a copy of the reevaluation and supplemental check to proceed with the claim. On 4/29/15 the administrator
called the insurance company because we had not received the reevaluation or check copy. On 5/7/15 we contacted
the lender to obtain these same documents. We received the check copy and reevaluation report on 5/14/15. The claim
was sent back to the underwriters for review. On 5/20/15 we sent a check to Nissan Motor Acceptance Corp in the
amount of $11,163.17. Please see the attached copy of the check.

We are requesting that Ms. ***** contact you once the GAP payment is reflected on her account to close the complaint
and confirm that she is satisfied with the resolution. If you require any additional information, please do not hesitate to
contact us.

Thank you,

***** *********

GAP Claims Supervisor

Consumer Response:

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.


Regards,

****** *****

I contacted Portfolioco on 2/16/2015 after I had spoken with **** and they informed me the GAP claim had not been paid. I was the one who contacted the insurance company and had them re-revaluate the car. I sent Portfolioco an email stating the re-evaluation amount at which no time did I get a response from *** ******** or ******* ********** both of which are useless saying they needed a copy of the check before payment could be made. Neither one them responded to my email. But that does not excuse the fact that from 2/17/2015 until now that the claim had not been paid and that no one contacted me in any shame, form or fashion to say they were missing documentation. Nor was they're sorry excuse for a claim website updated with that information. The only reason the claim has been processed so fast is because I filed a complaint against them. If I hadn't I would still be calling and sending emails to unresponsive so called claim adjuster only to be ignored. I have basically done all the work on this claim myself. So no, I'm not satisfied and the fact that they're basically lying about what happen only pisses me off.

Business Response:

This is our second response to a complaint made against our company by customer ****** ***** on 5/ 8/15 with the
Better Business Bureau. We made a call to ****** on 6/3/15 to discuss the details of her claim process and resolve the
complaint. We reviewed with her the attempts we made on her behalf to have her vehicle reeva luated. We also
explained that before we received the complaint on 5/13/15, we had reached out to the primary insurance company
and the lender several times to obtain the reevaluation paperwork that was needed to process her claim. We issued
payment on 5/20/15 to Nissan Motor Acceptance Corp. in the amount of $11,163.17. We made a second follow up ca ll
to ****** on 6/5/15 and left a message for her to contact us with any further questions.

We have requested that Ms. ***** contact you to close the complaint and confirm she is satisfied with the resolution.
If you require and additional information, please do not hesitate to contact us.

Thank you,

***** *********

GAP Claims Supervisor
************

Consumer Response:

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.

Regards,

****** *****

2/20/2015 Guarantee/Warranty Issues | Read Complaint Details
X

Additional Notes

Complaint: 9/3/14, I totaled my car in a accident. I had *** insurance which I contacted so I could start my claim. The claim adjuster, *** ********, sent a list of documents he needed from me. On 10/8/14, I recieved the final document and immediately sent it to Mr. ********. I called him to make sure he recieved everything he needed. He told me and my mother that I had done everything I needed to do, and that there was nothing else he needed from me. He then said, he needed one more thing, but that was something he had to get from the lender. He reassured me I was done, and that the payment process will take two weeks to payoff the lender. Then on 12/3/14, my lender called me about missed payments, stating the *** insurance hasn't paid them yet. I call the *** insurance, and they say they needed the documents all over again. I finally get in touch with Mr.********, and he wanted me to send everything all over again, my mom called him back and asked what happen to the first set of documents? He replied, he needed them again because he couldnt read them clearly, my mom asked why did it take 2 months to realize that you could not read them clearly, then he said, he only needed one document resent. My credit is now in jepordy and they lied about sending the payoff on the car when they had NO INTENT ON SENDING THE PAYOFF BACK IN OCTOBER while my credit shows that I am not making my car payments!!!! My claim number is *********

Desired Settlement: I would like to get refunded for the month of November and December, the 2 months, that were missed, because of the *** insurance purposely postponing payment. My car note is $343, making the total $686.

Business Response:

This is a summary regarding a complaint made against our company by customer ****** ********** on 12/9/14 with the
Better Business Bureau. She put forth a direct complaint to us via phone on 1/6/15 to express her dissatisfaction with the
length of processing her claim. She was provided an explanation that her claim was returned from the underwriter on 12/8/14
due to a questionable missed option, for a moon room, by her insurance provider. Ms. ********** reiterated that there was
a moon roof on her vehicle. She appeared to be unhappy with the explanation as she was previously told by her administrator,
upon receipt of the final document in early December 2014, that we received all the required documents and it was sent to our
underwriter for processing. We explained that it is the role of the administrator to collect all the required documents and once
it is in processing, it is the role of the underwriter to verify if there are any inaccuracies before adjudication. She asked that we
contact a specific representative with her lienholder, **** ** ********, to help her to explain the delay on the processing of
her *** claim to her lienholder. A phone call was made to her lienholder on 1/6/15 and 1/14/15 to provide them with the
status. We explained that we will require a reevaluation from her insurance provider for the missed moon roof before we can
determine our settlement amount. We made additional attempts with the insurance provider on 1/7/15, 1/8/15, 1/9/15,
1/12/ 15, 1/13/15, and 1/14/15. We were unable to receive a reeva luation from her insurance provider; however they did
verbally tell us that they reviewed all the images of the vehicle, and forwarded them to us via email on 1/12/15, and they
concluded that the moon roof option was not in fact not missed by them. We additionally contacted the body shop listed on
the images and asked for further verification on the missed option. They too reiterated that they also show no evidence in
both in their paperwork and their images that the vehicle did in fact have a moon roof. In an effort to reduce any further time
in pursuing the missed option (moon roof) the claim was processed with the provided insurance evaluation and submitted to
the check-writing department as of 1/14/15. Please see the attached copy of the check.

We have requested that Ms. ********** contact you once the *** payment is reflected on her account to close the
complaint and confirm that she is satisfied with the resolution. If you require any additional information, please do not
hesitate to contact us.

Thank you,

******* ***-*****

Operations Manager

Consumer Response:

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.

I had sent them the window sticker to my car, which states I had a moon roof. So just because it didn't show in the pictures, the window sticker says it does.


Regards,

****** **********


Business Response:

This is a response in regards to the complaint made by customer ****** ********** on 12/9/14 with the Better Business
Bureau. Although, we understand that she is indicating her vehicle was equipped with the moon roof, her primary insurance
carrier did not account for this option. We have made several attempts on her behalf to have her vehicle re-evaluated. In an
effort to reduce any further t ime in pursuing the missed option (moon roof) the claim was processed with the provided
insurance evaluation. We did not penalize Ms. ****** ********** for the moon roof unaccounted for by the primary carrier.
At this time should the customer dispute the fact that her vehicle was indeed equipped with the moon roof, she will need to
discuss this further with her primary carrier so that they may re-evaluate on their end and issue a possible supplemental
payment.

We have requested that Ms. ********** contact you once the *** payment is reflected on her account to close the
complaint and confirm that she is satisfied with the resolution. If you require any additional information, please do not
hesitate to contact us.

Thank you,

******* ***-*****

Operations Manager

1/29/2015 Delivery Issues
9/5/2014 Billing/Collection Issues | Read Complaint Details
X

Additional Notes

Complaint: I had express Auto gap insurance. In my definitions on my contract it say " Actual cash value means the retail value of the covered vehicle at the date of loss AS DETERMINED BY YOUR INSURANCE CARRIER." this company did not pay my difference fully because they said that they are not responsible for the difference of the cash value of what it should be an what my ins. carrier determined cash value was after taking into consideration of normal wear an tear. I don't get it that is what gap insurance is for. I was very disappointed by this company an am trying to fight to get this off my credit.

Desired Settlement: I want it paid off, an off my credit as stated in my contract. Everyone I talk to about this other then them said its ridiculous. They straight up said it doesn't say that in your contract but that is what it means. ??? "contract"!!!

Business Response: This is a summary regarding the complaint made against our company by customer Jennifer *** *****.
She contacted us via phone on 7/2/14 to inquire about an approximate $400 amount she discovered on
her credit report that WFDS stated was due to her loan not being paid in full. She was provided an
explanation of the amount waived at the time of the loss which included a condition adjustment amount
that was not covered under the GAP contract. She appeared to be unhappy with the explanation and
became irate. Our contract administrator contacted her and also offered an explanation of how the
amount waived was determined. WFDS was notified in August of 2010 of the amount that could be
waived under the GAP contract.

She contacted us via email again on 8/12/14 regarding her complaint. We responded to her email on
8/12/14 and she was informed that her complaint was being reviewed by management. We contacted
our contract administrator and inquired if an accommodation can be made on this claim to satisfy the
customer. The claim was reviewed and an adjustment has been made. The $480 balance the customer
has with WFDS will be cleared.

We have requested that Ms. ***** contact you once she has been informed that here balance with
WFDS has been cleared to close the complaint and confirm that she is satisfied with the resolution. If
you require any additional information, please do not hesitate to contact us.

Thank you,

******* *********
Operations Manager

6/24/2014 Guarantee/Warranty Issues | Read Complaint Details
X

Additional Notes

Complaint: Portofolio is one of Express systems sister companies, I purchased an extended warranty back in 2010 when I bought my wifes car new from Newby GMC of St. George Utah. I have had to make two claims since then, both times it seems to take forever for their people to approve or disapprove a claim. the first time a claim was made it took 5 business days plus the weekend before an approval was made, this was also after the dealer made over 8 calls and I with 4. Currently my vehicle is at the dealer awaiting their response, it has been there for 3 days now. the dealership told me they have made 4 attempts to expediate this, with typical answer that the person that is working this claim isnt at their desk. My wife and I have both called once with the same response. I have called the dealer that sold me this plan and also expressed my frustration, I have also called their main number to lodge a complaint but the supervisor they gave me had nothing to do with this division, when I asked for a supervisor of Portfolio she tried to give me their regular 800 number. The problem with warranty is you only need it if something brakes, and when it does its usually right before a scheduled family road trip for spring break! I dont want to tell my kids we cant go to Magic Mt. because of Portfolio.

Desired Settlement: I just dont want anyone else to have these same issues!

Business Response: The customer purchased an Extended Service Agreement from a Dealer in St. George,
UT on 3/22/10. Our records indicate they have filed 3 claims, all at another Repair
Facility in Las Vegas, NV. If a claim totals less than $500.00, the claims adjuster gives
approval immediately. Additional review and approval is needed for all claims that occur
at a Repair Facility that exceed $500.00. We make every attempt to obtain approval as
quickly as possible from the time the information and estimate is reported by the Repair
Facility. Once each repair was approved and completed, we issued payment for all
covered items directly to the Repair Facility.
Here are the times and dates for the 3 claims reported. All times are CST.
7/29/2013 11:23 am Received call from Repair Facility
8/01/2013 4:28pm Repair Facility was contacted with the approval
8/02/2013 1:18pm Payment was made for completed repairs = $1,058.88

8/08/2013 9:46am Received call from Repair Facility
8/08/2013 1:47pm Repair Facility was contacted with the approval
8/09/2013 8:48am Payment was made for completed repairs = $1,141.90

4/09/2014 5:18pm Received call from Repair Facility
4/11/2014 3:42pm Repair Facility was contacted with the approval
4/14/2014 8:40pm Payment was made for completed repairs = $1,196.35


It is not our intent to inconvenience the customer with long approval times. We make
every attempt to respond as promptly as possible to all consumers.

Regards

**** *****
Portfolio

6/20/2014 Problems with Product/Service | Read Complaint Details
X

Additional Notes

Complaint: After experiencing a total lose of my vehicle in November of 2013, my GAP claim still has not been processed. I have made numerous attempts to contact my Claim Administrator and she will not return my calls or emails. Earlier this month the website made adjustments to my claim status stating that more information was needed, but there have not been any attempts to contact me since the date logged on the site and any attempts I have made to contact them have gone unanswered. In the meantime, I have since paid of the balance of my loan and the company owes me the balance of my loan from the date of the accident.

Desired Settlement: Release of payment in the amount of the balance due on the auto loan after insurance premiums were applied back dated to the date of loss.

Business Response: This is a summary regarding a complaint made against our company by customer **** *******. She
was unsatisfied with the lack of communication by her GAP claim administrator and with the length of
time the processing of her total loss claim was taking.

The processing of her claim took longer than the 30 business days that we typically quote due to our
underwriter requiring additional information that was contingent on the selling dealership providing this
to us. We made repeated requests to them, to no avail. We then made a request to our underwriter to
make an exception and proceed with processing the claim without the additional information required,
which they agreed to do. There appears to have been confusion that hindered Ms. *******'s
notification that her claim processing was being delayed.

After receiving and researching the complaint, I reached out to Ms. ******* and spoke to her via
telephone on 5/27/14. I advised her that our company wanted to rectify the situation and confirmed
with her that she paid $2,000 out-of-pocket to pay off her loan. I then received authorization from
higher authority in our company for us to pay this amount to her. I called Ms. ******* again to advise
her that we would issue and mail a check in the amount of $2,000 directly to her, once she provided us
a copy of a paid in full letter from her lienholder. She agreed and we were able to come to a complaint
resolution. I received the payoff letter via e-mail from her today, 5/27/14, and the check has been
mailed to her.

If you have any questions or need any additional information, please do not hesitate to contact me at
(877) 705-4001, ext.***.

Sincerely,

******** ******
GAP Claims Supervisor
Portfolio

Consumer Response:

Please update this complaint to be shown as resolved.
 
On 5/22 I was contacted by the company and arrangements were made for the amount owed to me to be released.  The payment was received on 6/2.
 
Thanks,
 
**** *******

12/3/2013 Problems with Product/Service

Customer Review(s)

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Customer Reviews Summary

2 Customer Reviews on Portfolio
Positive Experience (0 reviews)
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