Ferrari Financial Services

We are responding to a complaint letter dated August 21, 2017. The complaint was submitted by [redacted] on 8/18/2017 and assigned an ID of [redacted]. We have reviewed the following account; [redacted] associated with [redacted] below are the details of our findings. Our customer; [redacted] received...

a monthly statement dated 08/07/2017. As a courtesy our statements include a 10 day payoff. The payoff quote for this statement was $194,652.40 with a good thru date of 08/17/2017. The customer sent a wire for $192,377.11, that was received on 08/17/2017 this amount was insufficient for us to consider the account paid in full. We reached out to the customer on 08/18/2017 to advise monies we received were not sufficient to cover the payoff. The customer refused to send any additional monies to cover the balance. The matter escalated to one of our call center managers at which our customer reiterated that they would not be sending any additional monies and stated they wanted no further contact from us. Later in the day an additional payment was received in the amount of $2275.29. This still left the payoff short, however as a courtesy we adjusted the daily interest of $26.50 to pay off the account. At no point during any discussion with [redacted] were we notified that a subsequent payment had been made separate from the wire, the customer failed to disclose this pertinent information. Upon us adjusting the interest on the account, subsequently the title and a paid in full letter was sent via Fed Ex to [redacted] on 08/23/2017 via 1 day mail. Our conclusion on this matter is that we find no fault on our end in reference to payoff shortage and we considered this matter satisfied, resolved and closed. If any questions please contact us at ###-###-#### , Monday – Thursday 8am – 11 pm EST, Fridays 8am – 9 pm EST and Saturdays 9am – 1 pm EST. Respectfully, Ferrari Financial Services Customer Service Department