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Resolved
Vericrest FinancialFalse late fees

M

This nightmare started when Vericrest acquired CIT, about 3 months ago. I recieved a letter from them stating I had a past due balance of around $2oo. When I called to inquire I spoke with a very incompetent, undertrained male who had no clue what he was talking about, after rambling on with him for a few minutes, i asked to speak with a supervisor. She informed me that when they aquired the loan from my former mortage company, (CIT), they reviewed my account and came to the conclusion I owed several late fees over the past years that, CIT, didnt collect on. Outraged, I explained to this woman, I have not been late on my mortage and if i was late the fees were paid or they were incorporated into my principle balance. I asked her to give me dates, as I keep records of the date I make each of my mortage payments. She informed me she could only look back several months and could not give me the exacts but would send me out a payment history. I informed her, I dont need a payment history but she will need to give me exact dates if she thinks I am going to pay one penny of these trumped up late fees. She tells me she will forward the information to another department and they will look into it.

Responses

  • Tr
    treedredmond Nov 06, 2009

    We are having the same problems you are, I am not sure what to do. We speak to "April" nice but they say we missed a payment but cant give us a date!!! I have beeen working on this for 2mo about ready to fly to OK. and talk to these people face to face!!! Vericrest is the worst company I have every had to deal.

    0 Votes
  • Bl
    blessed01 Nov 20, 2009

    Vericrest is a rip off I have been living in my home now for 15 years and have never had any problems with any other mortgage companies. They are saying the same thing about me I refinance with a new company in September. And Vericrest is still telling me I owe them as a matter of fact they are saying I am two months behind and wont stop calling and harassing me about me behind two months with them. I had to hire a attorney because these people won't leave me alone I am very upset with Veicrest as we all know this can really mess up your credit by them saying your behind on your mortgage. I want them to take all the late fees off my credit report, do whatever it is and release my information to the new mortgage company and give me the deal I signed when I closed on my home on September 8, 2009. Pay my homeowners insurance and taxes and give me the 5.5% intrest rate that I got. Vericrest should be held responsiable to fix everybody credit that they messed up because they are stupid I hope someone step in and help all of us who is going through this nightmare and make them pay us are take more money off our house it doesn't pay to do ugly and they will pay for what they are doing.

    0 Votes
  • Ca
    CATaylor Jan 09, 2010

    I have had the same problems since March 09, when they took over from CIT. I too, have never been late, never, all my payments are automatically deducted from my checking acct. I have talked to over 20 people, since March, each one sayin they will correct the situation. I am just so sick of this. None of them have done a thing, they talk a good game, but no action. I keep getting the calls, I explain to each. I have sent 15 pages of documents, showing my payments, (which they already knew). Today I received a letter saying they were going to foreclose because I was one month behind and I am not.
    WHAT CAN I DO??? This is just way too serious now and I am not getting any help from
    Vericrest. Does anybody know what I can do? I was told by numerous employees of Vericrest that this was a large scale problem when they took over from CIT and it would be corrected, but I say one week is the most it should have took to be corrected. I have names of all I have spoke to, dates, copy of faxes etc. It is a nightmare!

    0 Votes
  • U2
    u2krazy85 Jan 12, 2010

    We have had the same problem 20 people and none of them know the answers. It started when vericrest took over for CIT group. They keep telling us that we are a month past due but they keep giving us different dates and when I give them the payment info they state that they see it and accounting must not have posted it to the account and that they will have accounting call us. We never receive any calls from accounting then the harassment starts over again. Then I spoke to a manager and he stated that there must have been an accumulation of late fees (from before 2007) when they were CIT, but he can not tell me that either because and he stated "I don't have that information in front of me right now I will have to achieve it." He stated that he would send us a copy of the payment history from 2004 to 2009, but we keep getting the same payment history which only goes back until 2007 and everything was fine from 2007 to present. We are going to contact the federal trade commission and several other companies that are suppose to help out with these kinds of situations.

    0 Votes
  • Be
    besidemyself Jan 19, 2010

    OMG I cannot believe what I am reading, it is "MY SITUATION" a sick joke. I have been with CIT since May 20 20oo and I must say not ONE problem or Late fee. When Vericrest took over CIT my whole world got turned upside down. Constant harrassing rude inappropriate calls that I was behind on my payments. I tried and tried to get someone to discuss my payments with me but they would always say their records do not go back that far and they could never send me what they were looking at. Then I received foreclosure papers- my husband and I almost separated because he didn’t believe I was truly making the payments. Back in Aug 2007 I lost my job of 8 years, did not receive my guaranteed severance package, at the time I was 8 months pregnant. I had never been late on my payments so I did what I felt was right and called my mortgage company (CIT) to see if there was anything I could do. they said absolutely, and I did a deferment for 3 months. CIT guaranteed me they would keep my payments current and add the 3 months to the back of my loan. Exactly what they did! My deferment was from sept, oct, nov, making my next payment dec. I however paid 2 payments in October, one in November, and continued to make my payments on time. When I started receiving these calls I would beg them to go back to my deferment date and move forward. They rudely refused and would proceed to humiliate me asking why I never made last months payment, (which I did) I literally could write a book about this but it gets better. I finally got the bank and get every cancelled check since Aug 2007 I had even made 15 payments in 12 months. After over 200 hours of staying on hold, getting disconnected, taking 3 days off of work finally get this Steve guy in the foreclosure dept who says he can definitely go back to Aug 07..then he tells me "You were never approved for deferment" luckily I had my letter in my hand then he said let get with legal and I will call you back by 2pm..OF course NO CALL and when I finally reach Steve 3 day’s later-he says I got news we are going to defer these late payments until Aug and we will take you out of foreclosure. Being in the mortgage business myself I was outraged and of course he could not send me anything stating it was a mistake on their end. I waited until I received my statement showing I was current before pushing the issue any further. Then I get a letter that made no sense stating I was approved for modification. I called and spoke with this lady on the phone who says they lowered my payment $350 and if my I make my payments on time for 2 years they will forgive 54000 but I had to sign and notarize this paper and fax in today and then overnighter as it stated I had 10 days to accept and this was the 10th day- very odd considering they overnighted me the form. I did what she told me to do and then I had an attorney look at the letter and he said that is absolutely NOT what they are saying basically it was all a lie. He advised me to sell my house or refinance. I ordered the payoff and it was 198k I bought my house in 2000 for 176K...have never touched the mortgage. Now every time I call my payment is different never the same and it has had a different due date 3 times. I have given up so they advised me to do a short sale, explain the process to me. At this point I will do anything to get away from this company- they spoke with my realtor on more than one occasion and then once I received a contract they told me and my realtor I do not qualify for a short sale. In the past 2 days I received my 1099 for interest which was only for $6100-completely wrong (I even have a print out I had printed showing I paid 13, 100 in interest last year) tonight I received a 1099 for $54000- money I will have to pay taxes on but yet they cant tell me what is for accept that I am responsible. Now for the best part...if I let my house go which is what I am going to have to do just to save my marriage and for my health. I will NOT have a job as you cannot have a foreclosure in my line of work come June 2010. I am calling an attorney tomorrow. I called the attorney general and they said that cannot guarantee they will look into this case that I must fill out this paperwork and send it in and if they have had enough complaints they will contact me. If anybody knows anything I can do please respond

    0 Votes
  • Un
    Unwilling to conform Nov 08, 2010

    This garbage still goes on... I had a piano loan through CIT. I had some big financial problems and was late with several payments. I recieved late fee charges. CI T said that if I was ontime with my payments, they would likely remove all or part of the late fees at the end of the loan. Very nice. Vericrest took over. Over the last five months of payments, I called in the payments and talked with a representative. Each time I asked if I could make payments on the late fees or get them removed. They said the late fees could not be removed, but would be dealt with at the end. I got to the end of the loan at the end of August and sent in the final payment. They applied the final payment toward the late fees, charged another late fee and immediately sending me threatening letters demanding full payment. Since then, I've sent in a few payments and they have gone toward the late fees. It's funny... I am being charged about $75.00 per month for late fees and the remaining balance is increasing. How do they legally charge $75.00 late fees on a $350.00 bill? Well, the last payment sent was by check. I wrote "paid in full" on it. They cashed it. By cashing it, they agreed to release me from the remaining amount due. I know about this... I've been talking to an attorney. There is case law relating to Les Schwab Tire Company who tried suing someone after they, the tire company, cashed a check like this. Anyway, I am now in the process of sending a "take a hike jerks and don't contact me again and don't mess with my credit rating or I will sue you letter" to Vericrest. Also, I'm sending complaints to the fed gov't and my state attorney generals office. This is embarassing as I believe in paying my own way and have had some very hard financial times. Vericrest has no pride or honor and will mess with you if you give them a chance.

    0 Votes
  • Ml
    mlgibsonsr Jan 25, 2011

    WoW... Vericrest is something else! Does anyone know of some formal complaint process or if any agency is looking into their Business Practices/ interactions with customers? Not only do I have the same problems listed above, but I have an insurance claim and they held my money hostage and wanted to Manage the project for me, without a Project Manager. These folks here at Vericrest must be skirting the law on many fronts. Don't you love those automated dialers that drill your phones repetively if you are one minute late? Then if your late say one payment, you owe them many thousands of dollars?

    0 Votes
  • Dy
    Dyiana Jul 07, 2012

    I too am having major problems with CIT Group/Vericrest Financial. I paid my house off in full November 2010, I only had 2 years left on a 15year mortgage and the balance due should have been approximately 14, 400.00 yet they made me pay 28, 800.00, charged me for 2 faxes that they never sent, charged me the $50.00 conveyance fee twice, and had 388.00 in fees that they couldn't tell me what they were even for. I paid the money, including the 388.00 and then Vericrest had the nerve to file a false credit report with the 3 major credit bureaus saying they had to "charge off" the $388.00 and I was 180 days past due, total bull feathers, and I still haven't received my deed to my property and it will be 2 years in November. They then sent the $388.00 to a collection agency after they alledgedly "charged off" the money I already paid them, who wrote and called and called and called (I only got their messages on my answering machine and by the time I got home, they were closed already for the day) and when they found out what Vericrest did said, "They can't do that!" and said they (the collection agency) would take care of the problem, yet it is still on my credit report and I still have to file a grievance on them every couple months with the credit bureaus and still nothing gets taken care of. I am at the end of my rope here. I call Vericrest and the right hand never knows what the left hand is doing and then they get snippy and treat me like I owe them millions of dollars and never paid on time ever, which is wrong. I believe my only option is to contact an attorney and sue them for fraudulent banking practices, theft of funds, filing false reports with the credit bureaus which really screws up the old credit rating, attorney fees, and punitive damages, and anything else I can think of just out of spite. Might even contact the CBS evening news and fill them in on Vericrest Financial or else everyone that has a complaint should band together and file a billion dollar class action suit against Vericrest and demand they pay everyone in the lawsuit in full immediately, pay the people they screwed not pay the court system a huge FINE, only one that benefits from that is the court. I know it probably won't do any good since corrupt banks seem to be the norm now a days but I don't know what else to do, any suggestions?

    0 Votes

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