Company: Concord Servicing Corporation


Company:  Concord Servicing Corporation 

Nature of Complaint: Installment loan; Managing the loan or lease 

Result: 

Response from Company: Closed with monetary relief

Complaint:  The loan, after several years of servicing, was sold to Concord Servicing. A single payment was paid late, generating a late fee. The subsequent monthly payments were paid on time as usual, via online banking bill pay service. Concord continued to charge late fees upon late fees ( pyramiding ). Despite repeated contact with them about this, they have never responded in writing or in any way with an explanation of the fees or a way to resolve these. The practice continues to this day.. ( 1308421)

 

Submitted on 4/2/15 by a consumer in IL