SNAP Financial Group Reviews (%countItem)
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SNAP Financial Group Rating
Address: 3224 Four Bental Ctr 1055 Dunsmuir St PO Box 49267, Vancouver, British Columbia, Canada, V7X 1L2
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got a furnace for $4150 after 40 payments of 71.99 amonth still owe $3583 happened to check it because was going to pay off thinking I only owed about a grand after paying $2880 nope cant believe this when I sign was made to believe that wuld be paid in 5 years *** do not use these guys better to use your credit card would give a negative but cant stay away
Made a call today, never received any documentation on what is paid/owed in 3 plus years. We have made 43 monthly payments totalling $2200 + on a $3800 install of a Heat Pump. This loan is amortized over 12 yrs, yep, 12 yrs. Never was this explained that our Monthly payment would only have $12/month going to pay down loan!!!!
I have a loan with SNAP and I have just learnt that the balance I owe from $5800 loan is still over $4300 after 5 years. When signing the agreement initially, the *** representative said if I had paid the $66 a month then after 5 years I will have paid off my loan of $5800. I should have done the math and read the fine print back then because of the total $3500 I have paid so far, I have spent over $2000 towards the interest and only about 1500 towards the principal loan. And I have found about that only just now when I called them to ask how can I pay off the remaining balance (thinking its a small balance).
My complaint is, why have I not received any statements all these years and why doesn't Snap financial show up on credit reports like all my other loans? It's like they're purposely hiding how high of an interest I'm paying them unknowingly.
On other loans, they would send out statements showing how much loan balance is left. And even on credit reports you'd see your other loan amounts decreasing as time goes by.
I would like to choose the below option:
Contact by the business - if you want to hear from the company via phone, email, or letter.
Dear Mr.,Our SNAP Welcome Letter dated September 1, 2015 states that
we do not send out monthly statements. You are able to view your current
balance and make payments by logging onto our Borrower Portal located on snap4home.com. We currently do not report our Home Improvement loans
to the credit bureau, we are looking at implementing this change mid year. A review of your account shows our team spoke to you twice
on February 18, 2020 and sent you details of your payment history including
breakdown of principal and interest. We also reached out on March 2, 2020 and
left you a message to call us back. Please feel free to reach out at anytime on
our tool free number 1-866-475-9184.Regards,Team SNAP
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Sincerely
They want to charge me to find out what I owe. I called last April was told what I owe and was told that a contract would be sent to me. Never happened. Today I was transferred around Sean who handles my account did not want to do the math. Strait up told me. ***. I have an auto loan. Can’t lol it up online because the don’t have a auto loan department anymore. So frustrating. Do not use this company if at all possible.
Bought a furnace 8 years ago paying$75 a month. Only receive annual notice rarely. Surprised to find out after making years of payments we still owe $5500.00. How is that possible? The furnace ain't made of gold. Called these guys several times, no reply because I was selling house. Stay away
If I could give zero stars I would. We were not given an accurate account of the details of the contract by a SNAP representative at the time of signing the agreement. The explanation of the contract was done by the window representative with whom we had purchased new windows for our home and he missed key details of the agreement such as the 180 month amortization which meant that our $46 K window package would end up costing us $128 K ...totally ridiculous. There should have been a SNAP representative speak to us to clearly outline all details of the contract at the time that we signed it, including the 180 month amortization and how much that would translate to over 15 years, but that did not happen. Upon calling SNAP, after 3 years of payments, I was told all the details of the 180 months but the convoluted way in which interest is calculated annually was even difficult for the SNAP representative to spit out. When I asked to speak to a manager I was told that there wasn't one available and that someone would call me back. I did speak to another representative but was told verbatim what I had just heard which did not clarify why after 35 payments totalling $25 K that only $2,500 was taken off the principal. This is not a finance company, they are loan sharks.
This company is extremely rude and threatening for absolutely no reason and it needs to stop. I sent my most recent batch of checks to them for my upcoming payments and they harassed me continuously and a payment was not late. They continously emailed me now asking for random amounts of money that I do not owe. They did have the ability to take automatic payments out of my account but changed the payment amount without informing me so for my personal safety I am no longer giving them access. I have every intention of make all of my payments so I do not understand why they are sending letters and rude emails. I do not control the mail service and if my checks were delayed I cannot control that. Perhaps if I was informed and handled with proper customer service when my payment was changed we would not be having to deal with checks at all. Any time taken to recieve or costs incurred due to this situation are Snap financials costs to bear , not mine .They are also repeatedly checking my credit report , several times this year and last and they are doing hard checks that lower the score . This loan was done 7 years ago , I have no authorized and further checks .
Hi there, thanks for taking the time to leave your review. Please call Marlon @ *** to discuss your account and have the issue resolved ASAP. Thanks, ***.
Complaint: ***
I am rejecting this response because:
Sincerely
I got a loan to get my car fixed. Making Bi weekly payments. They have a 100 day pay off same as cash. Called right before the 100 days for a payoff amount. The customer service rep never told me after the 100 days, that the interest would be at 200 + %
I spoke to someone from the company, and he was suppose to look into this matter. I haven't heard back since. I have attempted to call multiple times and had to leave a message. The loan amount is the same amount when I started making the payments in December of 2018.
Hi there,
It looks like you're based out of the US. SNAP do not presently conduct business beyond Canada and are curious if your review instead pertains to another company with a similar name to us.
Best,
Mel H
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID, and find that this resolution is satisfactory to me.
Sincerely
These folks have misleading business practices which may not be evident unless you read all the small print in the contract you're presented when given the option of an interest free loan. Should you provide payments through a credit card and that card comes up for renewal, or they write down the number incorrectly, they will immediately file chattel against your property. Their margin is found in the small print. You'll pay an administration fee up front, you'll pay a penalty which they attribute to defaulted payment because your card came up for renewal, and you'll pay a large sum to remove the chattel they'll place on your property. Do not do business with these guys unless you want your reputation sullied when they do these practices.
HI ***, we appreciate you sending along your updated CC information to have this issue resolved. We notice the account has since been paid in full, albeit have also provided a copy of a contract to review the terms and conditions again. Regards, Mel H.
We used a company called *** to install windows in our home ? Measurements were taken in August and a 50% deposit was required ? they encouraged us to go sign up for an open loan and would wave the deposit instead collecting all monies through the leasing agency ? we figured no problem as the windows weren't getting installed until late November better the monies sit in our account. Windows got installed we never received any contract ? we contacted the widow guy/company numerous times to find out when we would get those details so we could pay off in full as we don't have any debts and we had the monies sitting in the bank (we have emails/texts to support as well as bank statements) ? My wife handles our banking but had taken over a business during that time period b/w that and our kids she did not notice a small fee of $74 coming out every month until late August ? once she saw it again in September she went back and noticed it was being pulled every month from Snap Financial since January ? she asked me to look into it ? I contacted them immediately and explained the situation asking to pay off the full balance minus the interest as we never received any contract / loan details etc? they say NO immediately ? I asked to speak with a manager and they told me someone would call me ? I continued to call 10 times over a 2 month period and was always met with the same response 'your case has been escalated ? someone will contact you? after a few more weeks I contacted again given my email address as well and let them know I was contacting my bank to stop payment at that point I was sent an aggressive email stating the facts of the loan etc? - I asked again if I could get a copy of our loan details to pay of in full minus the interest ? the amount was sent over via email but still had the interest on it. ? At that point I contacted the bank and put a stop payment on the account ? as soon as we did that they have called me every single day sometimes 2-3 times in a day harassing me for my interest payment. Last month they changed the amount and pulled 2 payments plus a $40 fee from my account ? I immediately contacted my bank they told us to file a complaint as it sounded suspicious and to come in to close that bank account and open a new one to ensure that didn't happen again.
Initial Business Response /(1000, 14, 2019/03/19) */
Hi ***, thanks for the feedback. We're unable to speak to why you have not received a contract since the details of your loan would have been discussed between you and the dealer in question. Our records show, however, that we sent you a Welcome Letter on Nov 17th. 2017 and to this day have not received any return mail. The Welcome Letter would have included information on your account number, payment date, payment amount, and payment method predetermined between you and the dealer. While we cannot refund you retroactively for the interest paid thus far, you are free to pay out the remainder of your loan whenever you desire. Should you wish to speak to a SNAP representative on this matter, Please call *** at your nearest convenience. Thank you.
Initial Consumer Rebuttal /(3000, 16, 2019/04/01) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This is the exact same line you gave me after MONTHS of trying to contact you - The details that were provided from the dealer was that YOU would send us all the terms of the open loan - which we DID NOT receive - just because you didn't receive any returned mail does not mean that we got the Welcome Letter - it makes no sense why we would continue to contact the dealer up until March 2018 asking when we would receive the details of our loan as we wanted to pay it off? (Screen shot attached!)
We made NUMEROUS attempts (22 to be exact) to contact you to solve this situation but instead you ignored our calls for over 2 months... until we stopped payment that is - at that point you conveniently found our phone number, email and mailing address as we've received your letters and phone calls since the day I stopped payment - *** Not sure how I'm to pay something I have no details on - didn't even know the company name until I saw it on my bank statements and *** the company name and contacted you immediately...
All I'm asking is that I pay the loan off in full as was always the plan minus the loan interest that was collected - seems fair enough since you never sent the details of the loan - so how could I pay it AND when I called to find out why you guys were pulling a payments you never called back - not once in over 2 months - what kind of customer service is that - this definitely could've been handled a lot differently on your end.
Final Consumer Response /(3000, 24, 2019/05/21) */
(The consumer indicated he/she DID NOT accept the response from the business.)
NO I do not accept their proposed resolution - (it was to call them?? really that's what I've been doing for 9 months now!) They first offered to deduct $180 of the almost $1000 that they've already taken out throughout the year - we wrote back asking AGAIN to speak with a someone on the management team and received an email back with a different amount they would deduct and that they would have someone from the management team call by Monday (it was a Thursday - was given his name and was told he was out of office and would call upon his return) and it's 3 weeks later still no phone call from him just harassing calls and emails about our overdue account.
Final Business Response /(4000, 28, 2019/06/17) */
Due to the status and severity of the account, the complaint was escalated to our Collections Manager. He has advised multiple attempts have been made to reach you (voicemails) with no response back.
Please see the Collection Managers direct contact information below:
In 2008, *** a SNAP representative helped me get a furnace and an a/c. I was thrilled at the time as there was no way I could afford the $6000 for a new furnace at that time. I was told an extra 2000 for the a/c as well. This seemed like a great idea. For TEN years I have been paying faithfully. I was excited to think this December would be my last payment and I would have my $86 a month back. Then today I receive a notice from them that I still owe $4138. AFTER TEN YEARS ON A $8000 loan!?!? NEVER once was this explained to me. Never once did they send me a copy of any contract. When I call I am told that there are no managers to speak with and that if I cancel payment, they will charge me with NSF. I am also told that they KNOW there are agents out there that do not explain this!
*** I have paid over $10000 for this furnace and a/c, which is more than enough!
Initial Business Response /(1000, 7, 2018/12/24) */
Hi there, many thanks for taking the time to leave this review. We're sorry the dealer in question did not explain the interest/amortization details surrounding your loan upon placing your purchase all those years ago. Unfortunately, we have no affiliation with the salesperson/dealer who initially contacted you and consequently cannot speak for him/her and the terms set from the outset.
I believe one of our sales managers has tried contacting you by phone 3 times in the past week and has not been able to reach you. Please standby for another call or do indeed feel free to reach us again to have this resolved. Kindly, Mel H.
I paid off my loan on September 27, 2018 and was told by a customer service agent the Discharge Letter was sent to Alberta LTO (land titles office) on Oct 4,2018. By Oct 25, 2018 when Alberta LTO hadn't received it we called Snap again and they sent a confirmation letter stating it had been sent out October 24, 2018. AB LTO finally received the documents on Oct 30,2018. When they went to process the docs the LTO realized they had not been executed properly so on Nov 6, 2018 sent them back. We were told to contact Snap and have them send new ones because it would be quicker than waiting for old ones. I have contacted customer service on numerous occasions and am frequently given conflicting stories as to where my new docs are and when they will be received by LTO. I started this process on September 26th because it needs to be taken care of by November 29th or it will cost me 600 with my bank. (remortgaging fees & interest payments) I have not been able to deal with most of the people I contact at Snap because they tell me they aren't sure for every question I ask. They haven't been able to provide me with a new DRR# for my documents, so as far as I know that means they haven't actually been sent.
Initial Business Response /(1000, 9, 2018/11/26) */
Hi ***, thanks for taking the time to leave your review. To clarify our timelines -
1. Discharge documents sent to Alberta Land Title Office on October 24th was rejected on Nov 13th as new forms went into at Land Titles.
2. New Forms completed and sent back (tracking # ***).
3. Alberta Land Titles takes 4- 6 weeks to discharge a Caveat.
If you have any additional concerns/queries, feel free to reach out at your nearest convenience to the following: *** (8:30 am - 8:00 pm EST) / ***@*** Regards, Mel ***.
Initial Consumer Rebuttal /(3000, 11, 2018/11/27) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The bill was paid with snap on September 27th. I was then told on October 5th that the discharge had been sent on Oct 4th. When we finally contacted snap on October 25th we were emailed a letter saying it was only in fact sent out the day before. The problem here was that no matter what information I got when I would call again I would get completely contradicting information. Customer service is disorganized at snap financial. I had spoken to one rep the day before and she was beyond frustrating so the next day I told her I wanted to deal with someone else, then she finally pulled her act together and made things happen. You cannot blame this on AB LTO, it was snap that didnt do their job properly the 1st time (after sending the docs 20 days late). Then it was snap again that for 3 days refused to send new docs until the old ones arrived until finally a supervisor stepped in and sent them. AB LTO did everything to help, a supervisor there personally waited for my new docs to arrive and discharged same day rather than make me wait the 10 days as usual. If it wasnt for LTO being as accommodating your company would have cost me an additional $600 all because of their incompetence.
Final Business Response /(4000, 13, 2018/11/30) */
Hi ***, thanks for taking the time to leave your review. I understand a colleague of mine has tried reaching you several times and is having trouble getting through.
Please feel free to follow-up with Mel H at your nearest convenience on: ***.
We also recommend you to contact the dealer in question - *** - to source the contract as they would have explained the terms of the loan directly to you.
We will be sending you a copy the loan agreement and payment history for clarification.
Final Consumer Response /(4200, 15, 2018/12/03) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This has nothing to do with the contract. It has to do with the incompetence of Snap Financial AFTER the loan was paid in full. All I have asked for through the 2 months of working on this is that someone be straight forward and give me the answers to questions I had. Correct answers not something pulled out of thin air. The point of this was to inform a supervisor of some sort that your customer service reps struggle. They dont have a clue what they are talking about 95% of the time and just tell you what they think you want to hear. My loan has been paid out for over 2 months now and I am just warning others not to deal with snap. I believe it comes up how many complaints a company has against them on the Revdex.com site. Hopefully others are smarter than I am and check to see if this is a legitimate or shady company. No I dont accept your resolution because all I wanted was for someone to acknowledge their staff is ill trained. Dont bother sending me any irrelevant paperwork for a loan that no longer exists. Thanks to some helpful supervisors at AB LTO that waited for your paperwork for the second time everything was processed on time I didnt have to go through the waiting period for 2nd time. Like I say, thanks to helpful knowledgeable staff at the LTO.
After paying monthly amounts for4 years since Spring 2014 and thinking that I am now close to my five year balance payoff I was informed upon contacting SNAP that I owe over a thousand follers more than the original cost of the furnace due to the payment structure which is broken up into three 5 years terms with 15 years amortization and daily jnutetest I addition to the interest rate that I understood of 9% at the time of the contract . I was speechless as I could not believe my mi they payment of $67.00 was not even paying the interest. SNAP does not send statements not even once per year and said I could have signed up to view my account on line . 4 years
Initial Business Response /(1000, 5, 2018/10/01) */
Hi ***, many thanks for taking the time to leave your review. I believe our Customer Service Manager, Melanie, has been in touch regarding a resolution to your concerns. Please contact her directly should you need any further assistance, Team SNAP.
Initial Consumer Rebuttal /(3000, 7, 2018/10/05) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The customer service Manager presented no resolution but only to defend the structure of the contract which I stated was very misleading . She was unapologetic for the way in Which the amortization and lack of real calculations was not very visible in the one page agreement . BURIED IN FINE PRINT. She had no explanation as to why 2/3 of the page would be used for calculations showing a 4 year payment level and no calculations that shows the payments over 15 years with interest . She had no explanation as to why the formula for the e15 years was not boldly stated as the 4 year calculations.
Final Business Response /(4000, 11, 2018/10/31) */
Hi ***, we're very sorry we couldn't come to a resolution on this matter with you. We have attempted to rectify the situation on a number of occasions and will not be escalating the matter any further. If you need to contact me directly for any reason, please do. Mel Customer Service Manager.
I had a furnace installed and was told by the installer that completed the paperwork I would be signed up for a 5 year loan. I was never contacted by Snap financial and never provided any loan statements throughout the 5 years. Now that the 5 years have come to an end, I was sent a statement that I still had another 5 years to pay even more money at at rediculous interest rate. When I called the office in March, I was told that I signed the papers and it was too bad. I got them to provide the paper that I supposedly signed, and the signatures they had were digital copies. I was never shown or provided a copy of the papers they were saying I signed. When I finally spoke with a manager, she told me that there was nothing she could do. I had to reach out to the furnace company. I don't have a problem with the furnace, I have a problem with your bank ***. I was told in April and May that I would receive a call back, which I have never received. Yet the automatic withdrawals continue to be taken from my bank account. I have paid more than what I was told I would already and they continue to take more.
Initial Business Response /(1000, 5, 2018/07/09) */
Hi ***
Our records show that you signed a 10 year contract at an agreed interest rate via *** from the outset of your loan agreement. We're sorry, but the responsibility of reading the loan terms lie with the borrower. We can see you have an open loan set up with us, meaning you can pay the balance with absolutely no penalty. Please let us know if you would like to proceed with this option or if we can assist with anything further.
Initial Consumer Rebuttal /(3000, 7, 2018/07/10) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This is the exact same 'from the book' response I got the first time I called in. How many times do I have to say I did not sign the document. I was not shown the document. I did not give a digital signature at any point. What you have is a*** based on the signature I gave to the furnace company. This is the point where I have spoken with a manager, who has said 3 times that I will be called back, and I have never been called. This bank is taking no responsibility ***
Final Business Response /(4000, 9, 2018/07/17) */
Hi***, we apologize for the inconvenience you have experienced albeit must stress that our involvement only begins with obtaining the signed copy of your contract/agreement from the dealer. Only upon receiving your contract do we began initiating payment withdrawals from your account. We kindly ask that your resolve any matters surrounding obtaining your signature with the dealer in question. Thank you.
Final Consumer Response /(4200, 11, 2018/07/18) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This is exactly what I am talking about. SNAP is taking no responsibility *** I was never contacted by SNAP financial or given any way to contact them from the onset of this loan. I was never provided or shown the loan paperwork. They did not provide 1 statement throughout the 5 years, until they decided to send me a letter telling me that I had another 5 years to pay.
Since they are taking no responsibility for this issue and making no efforts to correct the situation, I will be contacting media outlets and telling my bank to stop authorizing payments.
I have recieved more then 20 calls in the matter of 6 days... plus even after personally speaking to a *** person they call again later that day from different numbers...
Initial Business Response /(1000, 5, 2018/05/10) */
Hi ***,
We only operate out of *** and noticed that this complaint is from a*** account, leading us to believe it pertains to the company *** (vs. us, SNAP Financial) to which we have no affiliation with.
Can you advise the customer to check the details of who they acquired the loan from?
Thanks
Purchased windows and used your company for the loan. We received notification of a caveat against our property. We paid the loan off in full. I have been waiting since January 30th for an email or letter telling me the caveat has been removed. all my emails regarding this are ignored. I am sick and tired of it all. I will be consulting legal advice if I don't have confirmation that the caveat has been removed by the end of April
Hi ***,
Thank you for taking the time to leave your review. We have forwarded a copy of the discharge of conduct by mail and a copy has also been sent to the email we have on file for the account.
We apologize for the delay and urge you to reach out directly at *** if you need any further assistance.
Thank you.
***
(The consumer indicated he/she ACCEPTED the response from the business.)
5 years ago we in the we were forced to get a new furnace. The cost for this furnance was approx $7500. Our monthly payment was $83. During those 5 years we never received a statement on our interest rate or what our monthly principal payment was. Today after 5 years we paid $4900. I my very first statement and notice today in 5 years saying we still owe $6320. My question are financial companies required like for example *** send you a monthly statement showing you prinicipal payment to give you a option to pay them out knowing they are making you pay basically double what you Borrowed?
If I would of known this years ago I would of paid them out full. I've paid 4900
7500 furnance and still owe 6320 without any knowledge or statement in the last 5 years.
Order_Number: XXXXXX
Account_Number:
Initial Business Response /(1000, 10, 2018/03/09) */
We currently do not send out monthly statements in regards to customers account. You can always view your loan information online or contact customer service at 1-866-475-9184 and press option 2 to speak to an agent. With every payment you make, a portion is applied directly to principal and interest. Like a mortgage, in the early years, most of your payments go to paying off the interest with a smaller part reducing the principal. As you get nearer to the end of the term, it switches so that you're paying more off the principal each month.
You may choose, to pay out your loan, increase your monthly payment and make lump sum payments at any time without penalty.
We will forward to you your signed SNAP Equal Payment Agreement, Dealer Invoice, Welcome Letter, Payment History and Paid in full letter confirming the above terms.
In the winter 2013, our furnace broke down and needed to be replaced. We purchased a furnace through *** but required financing due to unexpected circumstances. We financed a 60 term loan at 9.95 percent interest with Snap, through ***. We signed the papers, paid our monthly requirements, and never received updated information from Snap, but since we had the contract and the money continued to be withdrawn we felt all was fine until the term ended. Well, the term just ended (January 2018) and we received our first letter from Snap. It is time to renew our loan. That seemed fine, until we looked at the balance to be renewed. According to the information sent to us, over the past 5 years we have only paid 1/6 of the principal owing. After doing the math, we were confused and thought the only way this could be so is if interest was added on a per day interest rate. Shocked, we called Snap and sure enough the person from Snap said it is true. Snap interest rates are based on a per day schedule. Nowhere in our contract was this stated.
Initial Business Response /(1000, 5, 2018/01/26) */
Contact Name and Title: Melanie Cust. Service Mgr
Contact Phone: ***
Contact Email: ***@snapfinancial.com
Hi ***, thank you for taking the time to share your experience with SNAP. We appreciate the feedback and understand a Customer Support Manager has been able explain the terms of your partners contract in more detail with you. Please feel free to reach out directly on *** if you ever need assistance again. All the best, Melanie - Customer Service Manager
Initial Consumer Rebuttal /(3000, 7, 2018/01/29) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I do not understand the statement "a Customer Support Manager has been able explain the terms of your partners contract in more detail with you." Please clarify what you mean.
Final Business Response /(4000, 9, 2018/02/06) */
Hi ***, thank you for the prompt reply. We understand that the Customer Service Manager is sending you a copy of your SNAP Equal Agreement, Payment History and Paid in Full Letter to review. Regarding the terms agreed, we will forward your feedback to our Dealer Support Team to improve all processes going forward. Please feel free to reach out again directly on *** if you need any further assistance with clarifying the terms of your partners loan, Melanie ***.
Final Consumer Response /(2000, 11, 2018/02/07) */
(The consumer indicated he/she ACCEPTED the response from the business.)