ComplaintsforTime Investment Company, Inc.

• Initial Complaint

  04/11/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  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

  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 response

  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

  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

  03/27/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  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

  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 response

  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

  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

  12/14/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  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

  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 response

  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

  05/20/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  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

  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

  01/09/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  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

  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 response

  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

  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

  01/02/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  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

  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 response

  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

  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 response

  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,
  
  **** *****

• Initial Complaint

  10/25/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I purchased a soft water system through ***** water Eco Water. They sold my loan to Time Investment. The contract from Eco was *****% interest I'm currently paying **** a year **** of it is interest at this rate a **** loan that was suppose to be at ***** has turned into a huge debt it was suppose to be paid off in 5 years now at this rate it will take much longer. This is not what I signed through Eco Water and I never signed any paperwork through time investment seems nobody at each facility can explain to me why I'm paying so much. Therefore I'm not paying another dime to them. I have been lied to and my home has water damage from the installer who was careless and untrained. This is not what I was sold and I don't even know how it's legal honestly.The manager at Eco Water told me they can't see my info from time investment and therefore can't help in any way. I talked to ******* at Eco Water in ****** office and I talked a lady with a really rough voice at time investment I believe her name was ***** or something like that. Please Help with this, we got this system so my wife would have clean water after surgery and now we are screwed.

  Business response

  11/03/2022

  Thank you for bringing this to our attention. We are sorry to hear the customer is having troubles understanding his loan terms. Our intent is to provide the best customer service possible, and we would like to help him resolve this issue.  In an effort to help the borrower understand his contract and loan terms, we mailed out a loan amortization schedule and transaction history on 10/26/22.  We have reached out to the borrower several times to discuss his concerns however he and his wife have hung up on us.  His contract which he signed to has a *****% annual percentage rate.  His interest accrues daily. Please let the customer know he can contact our manager, *************, directly as well. His number is ********************.

• Initial Complaint

  10/07/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  I contacted time investment in September and got a pay off quote. I paid my loan off and was mis informed by the representative that gave me the quote. They had advised me that the payoff amount would not change and guaranteed me on a recorded line. Then after payment was made I was informed that a payment previously scheduled for $310 dollars had reversed. Because of this reversal I have now accrued over $800 in just interest charges when I clearly intended to pay the loan off. They have not worked with me nor have tried to discount me in any way for their error and misinformation given to me on a recorded line. I have worked with supervisors and was denied any sort of assistance and find it very unreasonable that because of a $310 payment that I was advised had gone thru, I have now accumulated over $800 in just interest charges. This is a deceptive practice and I want a resolution given.

  Customer response

  10/10/2022

  [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. 

  You can now close this complaint. The company has since responded directly to me and satisfied my request 
  
  Regards,
  
  *****************************

  
  

• Initial Complaint

  09/22/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  August 31, 2022 I contracted with ***************** for solar fan and whole home seal. The work was done improperly and the fan does not work. I have contacted *********************, Owner of *****************, and he has promised to remedy this situation. Nothing has been done and efforts to contact him at ************** now go unanswered and the "mailbox" is full and I cannot leave a message. Contacted ******, customer service representative, and she also promised my complaint would be addressed. It has not. Recent efforts to contact ****** have been to no avail and I have left messages for her to contact me. No response. Reviewing earlier complaints filed against Time Investment reveal that they knew, or should have known, work performed by companies they provide financing did not meet acceptable standards and therefore my account with them should be terminated/suspended until the ***************** undertaking is completed to acceptable standards.

  Business response

  09/29/2022

  
  Thank you for reaching out to us regarding the situation between ************* ******************* , and **************. We have been in contact with both people, working to help resolve the issues at hand. 

  Part of what we offer from a customer service perspective is to help facilitate conversions between the customer and dealer regarding any issues that arise until resolution.
  We have on file a signed Certificate of Completion from the customer,and she had not reached out to us prior to filing with the BBB, with any concerns with ************. 
  We have confirmed with the customer that ************ has reached out to her.  There was an appointment set and all issues were resolved.  We spoke with the customer after work was completed and she was very satisfied with the results.

   

  Please let me know if you have any additional questions.

  Best

  ********

• Initial Complaint

  09/07/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am not Positive i have selected the correct company for this complaint the information i have for the company is ( Time investment company **** ************************************************************* )My issue is I have a loan for a water system and use automatic payments. I have been trying to change the account for months that the payment comes out of each month, but their website will not allow me to change the account. I have submitted multiple requests for help through their "contact us" system they do not give a phone number to be able to reach them. I have not received any correspondence from them. it has been about 4 months of trying to change the account.

  Business response

  09/12/2022

  To Whom It May ********************* you for bringing this to our attention. We use a third-party company to help us with customer inquiries. While we review their calls on a regular basis, there are times we are unable to catch situations like this. We are sorry to hear the customers was having issues changing bank information and we would like to help him resolve this issue. We have reached out to the customer and was able to assist in changing the checking account number he wanted to use for automatic payments.  The customer was very understanding and appreciative we were able resolve this issue.
  
  We apologize for any inconvenience and look forward to helping him in the future.
  
  Please call me at ******************** or email me at *********************************** if you have any additional questions.

*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. ↩