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National Finance Co complaints

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1606 East Dixon Blvd, Suite D
Shelby, NC 28150 | Get Directions

(704) 482-1464

http://www.nfcmoney.com

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Total Amount in Dispute:
$3,000.00

Total Amount Settled:
$0.00

Complaint Experience

100%

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Our complaint history for this company shows that the one complaint brought to the company’s attention was responded to and given proper consideration.

Complaint Closing Statistics

1 complaints against National Finance Co closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
1	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
0	Unanswered

1 complaints against National Finance Co

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2/26/2024

RESPONSE: Agreed to make an adjustment Amount in Dispute: $3,000.00 Amount Settled: $0.00

Customer Complaint

1/12/2024

I myself took out loans in the amount of $1500, $1000 in 2020, $500 2 years ago. Every month since 2020 we have given them $100-150 as monthly payments. We have run into hard times and they say we owe $3000 after raising payments with refinancing and are harassing us and family. They lied about refinancing and open big loans in our names, telling us we have 10 mins to fill out the papers online, during busy work days. My salon shut down Dec. 30th and they know. They've harassed us even though they've filed court cases against us and have threatened to come take our property, which they cannot do as any property listed is just a sign of equity. I am not the strawman. I am a living being. No crime has been committed. We have been VERY good about paying for FOUR YEARS. They are awful. Sweet ladies in the office, and they're just doing their jobs, but if this is what they're required to do to customers, they need to be stopped. They've lied, harassed, and abused us too far. Resolution Sought The business needs to leave people alone, and be stopped from lying in using the term refinance in order to open big loan amounts in peoples names with the tactics of scaring them. And they need to follow legal procedure.

Company Response

2/14/2024

Company states: Our response is limited to Mr. Wiggins complaint as we are not aware of any complaint from Mr. Harris or that they were married at the time of their original loan contracts. At National Finance Company, we always try to work with our customers to have a great experience. We regret that Mr. Wiggins does not feel that we met expectations. We have been in business since 1963 with few complaints. We take these complaints seriously. Sometimes, customers have situations that do not allow them to pay their loans but we are limited as to what we can do to amend their loan contracts. NC law does not allow for loan modifications. As it stands now, our options are limited to 1) A payment deferral but not more than two during a contract term. 2) A contract refinance or as a last resort 3) Obtain judgment against them. While not ideal, a Judgment does reduce the amount of interest allowed on the loan contract to 8%. Mr. Wiggins refinanced his account in August of 2023 and has only made one payment since that time. Calls were made and letters were sent to try to contact him. Calls were unanswered or his voicemail was full. Letters nor texts were responded to. Collection attempts are limited in our computer systems to no more than 7 in a 7 day period which includes calls, texts and or letters. After a time of no response from Mr. Wiggins, on December 29th, 2023, he informed us that he was unemployed. Our office immediately sent him paperwork to fill out for an unemployment insurance claim that would pay his payments during the time that he is unemployed. He did not respond with the claim papers until the day before court on January 22nd. We obtained judgment on January 23rd and have reduced his interest amount o 8%. We have also forwarded his paperwork to the insurance company and hope that he is approved for payment soon. We will apply the payments to his account when received. Hopefully, with the reduction of interest rate along with possible insurance payments, his account will be brought to current status. He is welcome to contact our office staff at any time to check on the status of his loan. We will not be contacting him since his loan is in Judgment status.

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