Innovative Funding Services, L.L.C. CFPB Complaints

2000 Latest Complaints

Date Received	Timely Response	Product	Issue	State / Zip	Submitted Via	Tags
05/15/2023	Yes	Vehicle loan or lease Loan	Getting a loan or lease Credit denial	MA 01970	Web
In XX/XX/2023, I was interested in shopping around for an auto loan to buy out an existing lease. I queried a third party service ( LendingTree ) and consented to sharing my contact information for the purpose of receiving loan quotes for this purpose. I had two lenders call me immediately - one, who I ultimately ended up working with, and Tresl, who reached out to me and requested I call them back. I received an excessive number of inbound calls from Tresl - literally 4-5 a day for about 3 days. I finally contacted Tresl as I had 1 ) decided to go with another lender and 2 ) wanted the person who was harrassing me to stop calling. I never spoke to a Tresl employee directly- all communications were via voicemail, with me reaching out to Tresl a total of ONE TIME to advise them to stop calling me. I never submitted a loan application with Tresl - again, the only item I agreed to was passing my contact information along to this business for the purpose of getting vehicle loan rates, which would be performed via a soft credit inquiry. Upon leaving this voice message with the Tresl individual, I received an Adverse Action notice on XX/XX/2023. The notice indicated to me there was 1 ) a loan application under my name, which I did not submit, 2 ) a hard credit inquiry was performed listing my credit score ( XXXX ), and 3 ) that due to my credit score ( which is excellent ), my loan application had been declined. I work in the financial services industry myself in Legal and Compliance, and this application and hard credit inquiry were done without my consent. I never submitted any loan application with Tresl - again, I never spoke to ANYONE there directly. This is predatory and I have also reported this directly to Tresl 's Compliance department as well, also in the form of a voicemail.
11/30/2023	Yes	Vehicle loan or lease Loan	Managing the loan or lease Problem with fees charged	MD 21202	Web
On XX/XX/2023, I executed a vehicle lease buyout through Innovative Funding Services DBA Tresl. On XX/XX/XXXX, I notified my finance advisor that the loan documents incorrectly charged me sales tax and original leasees in Maryland do not have to pay additional sales/excise tax on lease buyouts. Even after providing the statutory language, the advisor disagreed. I also pointed out at this time that the lease documents charged me a new registration fee of {$290.00} when I would in fact be keeping the current tags and registration. In XX/XX/2023, after I still had not received a new title in the mail and several phone calls, I was told that I would be refunded if the MVA did not charge Tresl once they finally submitted my title paperwork. In XX/XX/2023, I resumed emailing about the sales tax and registration fees after the MVA confirmed that Tresl had finally submitted my title transfer, two months after my loan was executed. Tresl continued to state that I was not owed any refunds. I then went back to the MVA, who has refunded me the sales tax, which was incorrectly billed because Tresl did not submit the appropriate forms at the time of titling, and MVA informed me that the refund for the {$290.00} registration fee must come from Tresl because the state never charged them for new registration. Tresl has shared the new title with tag transfer XXXX receipt confirming that they were never billed {$290.00} for new registration. Since XXXX, my calls to Tresl and my title specialist go straight to voicemail. They also no longer respond to my emails.
06/29/2018	Yes	Vehicle loan or lease Loan	Getting a loan or lease Confusing or misleading advertising or marketing	NY 124XX	Web	Servicemember
This is an associated complaint with IFS and XXXX XXXX XXXX XXXX XXXX. IFS brokered this loan. I applied for a loan with Innovative funding services to attempt to get a lower auto loan rate. I believed IFS was a direct lender they are not. My loan was placed with XXXX XXXX XXXX XXXX XXXX and that is where the issues began. I was charged {$400.00} to obtain this auto refinance. XXXX XXXX XXXX XXXX XXXX will not allow external accounts to be added to their web site. You have to pay by debit card and there is a {$15.00} fee, furthermore when I attempted to refinance out of this auto loan they ( XXXX ) took a {$2500.00} payment from me with my permission and I was charged XXXX by my other bank. They did not inform me this would be considered an OTC cash advance. This credit union is a very deceptive institution and should not be allowed to stain the XXXX XXXX name. Being a XXXX XXXX veteran myself I have watched these institutions prey on XXXX XXXX and veterans for many years. This credit union never offered GAP coverage or a warranty. Their APR is almost % 10 which is ludicrous. They need to disclose their fees and the fact you can not add an external account making a payment difficult. I am still awaiting my title from this institution as well and they say that IFS is handling that. When contacted IFS states they took care of it. XXXX XXXX XXXX XXXX XXXX and IFS should not be allowed to take advantage of consumers in this way. IFS does not accept direct payments so to get out from under this nightmare I refinanced again.
01/20/2023	Yes	Vehicle loan or lease Loan	Getting a loan or lease Confusing or misleading advertising or marketing	MN 553XX	Web
I was looking for an auto loan on XXXX XXXX. This company XXXX XXXXXXXX XXXXl came up with the best rates. We, my wife and I applied for the loan and were told the rates would be around 2.74 % for 5 years. Mind you my wife and I have top 1 % credit scores. XXXX. The entire process was long and drawn out and they kept requesting what I thought was an outlandish amount of additional information. The whole process took about a week for them to come back and say we have great news you are fully approved for a hot mess of a loan. They wanted to give us terms of 5.75 % for 36 months. No where near best out there, no where near advertised, and then the icing on the cake was they wanted to force me to buy a vehicle warranty plan. They didn't even understand that I have 2 years + left on my factory bumper to bumper! Bait and switch, super misleading and huge waste of time. These companies with bait and switch need to have a serious coming to XXXX with the XXXX. I do not have the audio recordings of the phone calls ; they do. I am looking for a screen shot of the advertised 2.74 % and 60 mo. After I told them I would be filing a complaint I noticed they pulled the rate from the lending tree offer page.
12/04/2023	Yes	Credit reporting or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	NE 68510	Web	Older American, Servicemember
I received a notice of adverse action on a loan I did not request. I inquired online via XXXX XXXX to explore interest rates but I never intended to request/apply for a loan. I want that credit inquiry and resulting notice of adverse action expunged from any files that have been created and held by Tesl. Also, if the action was reported to any third party ( e.g., XXXX ) I request that the report be rescinded and the record annotated to reflect that I did not apply for a loan from Tesl. Please note that I have contacted Tesl, the credit bureaus, and the FRC consumer support for assistance in these regards. Please note that I had no intention of applying for a loan from Tesl during my online inquiry of current interest rates. To be clear and for the record, I just want the notice to be rescinded immediately. I am not interested in, and have not applied for, a loan from Tesl. XXXX XXXX XXXX XXXX The company is : Tresl ( Innovative Funding Services ) XXXX XXXX XXXX, XXXX XXXX XXXX, TX XXXX Phone : XXXX
03/08/2019	Yes	Vehicle loan or lease Loan	Problem with a credit reporting company's investigation into an existing problem Investigation took more than 30 days	GA 303XX	Web
Went on XXXX XXXX and saw this company offering a better rate for my car loan. The offer was to lower my interest rate and monthly payments based on my credit score. I filled out the information needed and the company stated a soft credit check will be made. The company guaranteed A better rate so I agreed for them to do a hard inquiry on my credit. I received an email from the company Saying a agent will call with the good news. The agent did call me and the offer was not what I sign up for the interest rate was higher and the payments doubled. I went from 72 month lease to a 48. Now I have a hard Inquiry on my credit report. I called the main office of the company and XXXX with a supervisor. Told him the situation and he said he will call me on Monday he never called me and now I have a bad report on my credit I would have never allowed them to check my credit knowing that the offer would be worse. They promised a better rate and lower payment that never happened
03/15/2023	Yes	Vehicle loan or lease Loan	Getting a loan or lease Fraudulent loan	CA 94107	Web
I applied for a 2.91 % lease buyout with Autopay. Turns out they don't offer 2.91 % and they do not offer lease buyouts. I deleted my social security number before I submitted the app. The language stated the social security number would give them a more accurate determination. However, without the social security number they would provide a range. Both were false statements. They some how encrytped the number and had it when Autopay rep called. I was told they don't have 2.91 % even though it's on their website. I started getting calls from TRESI a company affiliated with XXXX. I never applied for a loan with them. Their representative called me to put an application in and I refused. I never applied for credit with them. I received a notice of adverse action and I never submitted an application. I never gave them my social security number. I have superior credit score and I demand action. This is outright fraud.
06/14/2021	Yes	Vehicle loan or lease Loan	Getting a loan or lease Confusing or misleading advertising or marketing	CA 92649	Web
I applied for a car long via XXXX XXXX. XXXX XXXX, on behalf of Trsel, forwarded a loan for the full amount that I was asking saying I was approved. When I went to their site to finalize the loan, the ran my credit and approved me for {$5000.00}. I feel if they were going to approve me for {$5000.00} they should have never lied and said I was accepted for my auto loan of {$36000.00}. I tried to resolve this with Rersl directly and they claimed that lending tree was not their company. I let them know I never claimed that to be the case but they did get all my information from lending tree so they should not have taken that information if they were not associated with lending tree at all. I just feel they lied. The offered me exactly what I wanted and then when I went to collect that, they switched it to a much lower number that was only a fraction of the original amount. To me it is a classic bait and switch.
05/02/2021	Yes	Credit reporting, credit repair services, or other personal consumer reports Other personal consumer report	Improper use of your report Reporting company used your report improperly	PA 15401	Web
XX/XX/2020 XXXX ( innovative funding services ) improperly used a hard inquiry the gentleman that I spoke with stand by them said that I was approved for an amount to refinance a vehicle that is in my name and my daughter 's name because of the approval I he then said that he needed to speak with XXXX XXXX to see what the payoff would be that was given on the assurance of credit or funding loans to refinance as it turns out he falsely represented that his company was doing the payoff loan after after getting the information of the payoff he then wanted to pull from other companies I am formed him no I need them to remove the hard inquiry from innovative funding services off of my report ASAP the gentleman even added incorrect addresses on her report
09/19/2018	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	LA 70506	Web
My credit score is being affected by hard inquires made without my knowledge. I have been searching for a safe and reliable company to refinance my car loan with. While doing so my credit score has dropped. I have only given one company permission to run a hard inquiry and that was XXXX XXXX on XX/XX/XXXX I am seeing two other hard inquires that I did not give permission for. One from XXXX XXXX on XX/XX/XXXX and Innovative Funding Services on XX/XX/XXXX. This is affecting my score and I would appreciate getting this problem resolved.
07/08/2022	Yes	Vehicle loan or lease Loan	Getting a loan or lease Changes in terms mid-deal or after closing	PA 15317	Web
Approved for auto loan XXXX 3.65 %. Signed initial agreement on XXXX which included a {$2100.00} warranty plan that was never discussed. Declined the warranty and my rate was increased to 5.1 %. Loan has been in funding since XX/XX/23. On that day I paid $ XXXX. Multiple outreaches to Tresl and manager with no answers. Today is XXXX. The seller has not been paid and Tresl provided a timeline of 4-7 days for funding. No payment. No explanation. Rate increase after declining warranty and terrible costumer service.
05/24/2023	Yes	Vehicle loan or lease Loan	Getting a loan or lease Confusing or misleading advertising or marketing	NY 121XX	Web
I received an offer through XXXX XXXX for an auto loan by Tresl. According to the site, I have an outstanding chance of approval for a refinance of $ XXXX at 5.42 % interest over an 84 month term. Upon applying for the loan, the lender did a hard inquiry on my credit and told me the numbers that were advertised were way off. The new monthly payment would be $ XXXX and interest would instead be near 8 % over an 84 month term. This was false advertising that cost me time and a penalty to my credit.
07/20/2019	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	WI 53214	Web
XXXX XXXX Inquiry from XX/XX/XXXX + Auto Financing XXXX XXXX XXXX Inquiry from XX/XX/XXXX + Credit Unions XXXX XXXX XXXX Inquiry from XX/XX/XXXX + Credit Unions XXXX XXXX Innovative Funding S Inquiry from XX/XX/XXXX XXXX XXXX XXXX Inquiry from XX/XX/XXXX + Credit Unions Innovative Funding S Inquiry from XX/XX/XXXX + Auto Financing Innovative Funding S Inquiry from XX/XX/XXXX + Im contacting you because I do not recognize any of the inquires .. I did not apply for anything on these dates
07/27/2019	No	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Reporting company used your report improperly	TX 77521	Web	Servicemember
On XX/XX/XXXX, after receiving a prepproval from a company by the name of innovative funding services, they then ran my credit without my permission twice. With two different inquiries now populating on my report. Then, only to email me and deny me approval. I stated that the inquiries were made without consent to miss XXXX XXXX, finance advisor with the direct line of XXXX and yet they remain.
11/14/2022	Yes	Vehicle loan or lease Loan	Getting a loan or lease Problem with additional add-on products or services purchased with the loan	UT 84093	Web
I bought my car from XXXX car sales in XXXX of 2020 and they use Innovative Funding Services to complete the transaction. The company is charging customers extra {$300.00} if they don't sign for an auto loan with them and use their own bank instead. The interest rate with them was almost double of my credit union. So I was forced to pay the extra fee to buy the car.
06/09/2023	Yes	Vehicle loan or lease Loan	Getting a loan or lease Credit denial	VA 22150	Web	Servicemember
The company ran a hard report on my credit and I never authorized it. I have never even heard of this company. I received a denial for a loan from them. I have already secured a loan with my own bank and paid the dealorship and then i received this denial. The letter showed they ran a hard Lookup on my credit, and included my credit score.
07/23/2019	No	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	NC 28269	Web
I pulled my XXXX credit report and found Innovative Funding Services had pulled my credit without authorization on XX/XX/2018. I sent them a letter to remove the unauthorized inquiry and they have not responded so I am filing a complaint.
06/20/2019	No	Vehicle loan or lease Loan	Improper use of your report Credit inquiries on your report that you don't recognize	CA 94603	Phone

06/15/2019	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	FL 32714	Web

03/27/2019	Yes	Credit reporting, credit repair services, or other personal consumer reports Credit reporting	Improper use of your report Credit inquiries on your report that you don't recognize	CA 91602	Web