Riverwalk Financial Corporation – CFPB Complaint ID 3082844

Date Received: 2018-11-26T00:00:00.000

Product: Auto debt

Issue: Attempts to collect debt not owed

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I sent off my letters to dispute the charges to the Creditor and Collection Agency for my repo. XXXX never replied to my letter, they just updated my credit report. XXXX XXXX XXXX, the debt collection agency that bought my account, sent me copies of my contract from when I bought my car with XXXX XXXX and XXXX. XXXX XXXX XXXX has sent me everything they have from my file with XXXX. Now XXXX violated the O.C.G.A. XX/XX/XXXX.

XX/XX/XXXX. Disposition of motor vehicle repossessed after default ; right to recover deficiency ( a ) When any motor vehicle has been repossessed after default in accordance with Part 6 of Article 9 of Title 11, the seller or holder shall not be entitled to recover a deficiency against the buyer unless within ten days after the repossession he or she forwards by registered or certified mail or statutory overnight delivery to the address of the buyer shown on the contract or later designated by the buyer a notice of the seller ‘s or holder ‘s intention to pursue a deficiency claim against the buyer. The notice shall also advise the buyer of his or her rights of redemption, as well as his or her right to demand a public sale of the repossessed motor vehicle. In the event the buyer exercises his or her right to demand a public sale of the goods, he or she shall in writing so advise the seller or holder of his or her election by registered or certified mail or statutory overnight delivery addressed to the seller or holder at the address from which the seller ‘s or holder ‘s notice emanated within ten days after the posting of the original seller ‘s or holder ‘s notice.
( b ) In the event of election of such public sale by the buyer, the seller or holder shall dispose of said repossessed motor vehicle at a public sale as provided by law, to be held in the state and county where the original sale took place, or the state and county where the motor vehicle was repossessed, or the state and county of the buyer ‘s residence, at the seller ‘s election.
( c ) This Code section is cumulative of Part 6 of Article 9 of Title 11 and provides cumulative additional rights and remedies which must be fulfilled before any deficiency claim will lie against a buyer, and nothing herein shall be deemed to repeal said part.

In which they never sent that letter. It is also shown with all the copies of paperwork they sent me that it was never sent. They sold the car and sent me the Explanation of Calculation and Surplus or Deficiency, which I still have.

Company: Riverwalk Financial Corporation

State/Zip: GA

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3082844

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.