1 reviews | Active since May 2020
Refinancing without permission
I received an email on the 28th of September 2024 to say my balloon payment on the finance of my vehicle has been refinanced. I did not request the refinance. In fact, I phoned and email MFC to find out if the balloon payment is going to be deducted from my account or whether I need to make a cash payment. My balloon payment is due the 1st of October 2024, which is tommorrow. Now I need to pay additional interest as my balloon payment has been refinanced. I phoned the accounts department just now and they said that it says on file that I requested on the 27th of September 2024 to refinance my balloon payment. Usually I receive an sms or email to rate my interaction with MFC when I wrote an email or phoned them. I did not receive such sms or email after the 27th of September which confirms as well that I did not interact with them. I would like to receive proof where I interacted with them and gave permission that my balloon payment must be refinanced. I saved 3 years to pay off my balloon payment to ensure that I do not pay additional and unneccessary interest and fees.
But besides that, I explained to him that I did contact them to arrange for the balloon payment to be deducted with my last installment (therefore not be refinanced if it is not clear enougjh) . He said that he will listen to that conversation and get back to me in 30minutes. It is more than 12 hours later and still no response.
MFC needs to sort this out very quickly!
But besides that, I explained to him that I did contact them to arrange for the balloon payment to be deducted with my last installment (therefore not be refinanced if it is not clear enougjh) . He said that he will listen to that conversation and get back to me in 30minutes. It is more than 12 hours later and still no response.
MFC needs to sort this out very quickly!