Scottrade, Inc.

June 3, 2016Re: Revdex.com Complaint Case # ***To Whom It May Concern:I am writing in response to a complaint you forwarded to Scottrade on May 17, In thecomplaint, our client states Scottrade did
not provide notification that his unsecured debit wouldbe sent to collectionsI have researched this matter and am reporting my findings below.In May 2014 our client incurred a considerable debit balance within his account and did not holdany other securities to cover the amount owed to ScottradeSince the client held an unsecureddebit an email was sent to the client notifying him that he would need to cover the amount withcash. The client began making consistent monthly payments to cover this debit from May 2014through July As the client was making consistent payments Scottrade did not take anyaction on his account in good faith.Between August and September Scottrade did not receive any payments so a letter wasmailed to the client's home address on September 30,notifying him that he was past due onhis paymentsThe letter explained that if he did not continue to make payments that Scottradewould be forced to report his account as delinquent to the national credit bureaus and may pursuecollection of his debt.Scottrade did receive a payment from the client in October but after not receiving anyadditional payments a second letter was mailed to the client on December 21, reiteratingthat if he did not continue payments we may pursue collection of the debt through a collectionagencyThe letter also explained that if he needed to make an arrangement for payments that hecould contact one of our Debt Recovery associates at the number providedWe were nevercontacted by the client about making arrangements.The client made a payment in January but did not make any additional payments thefollowing monthSince no payment was received in February a third letter was then mailed onMarch 10, reiterating that if he did not continue payments we may pursue collection of thedebt through a collections agency. Another month went by without any payments being madeand Scottrade sent a final reminder letter to the client on Apri14, 2016. After not receiving anypayments from the client since January Scottrade turned this unsecured debit over to acollections agency on April 25, 2016.Based on my findings I show Scottrade properly notified the client his debit was at risk of beingturned over to collections. The client never contacted Scottrade to make arrangements and afterthree months of not receiving any payment from the client we turned the debit over to collectionsIt is my understanding that the client has since worked with the collections agency topay off the remainder of this debit.Thank you for allowing us the opportunity to respond to this matter and we hope thissatisfactorily addresses our client's concerns.Sincerely ..*** ***Investigation and Resolution Examiner

June 3, 2016
Re: Revdex.com Complaint Case # [redacted]
To Whom It May Concern:
 
I am writing in response to a complaint you forwarded to Scottrade on May 17, 2016. In the
complaint, our client states Scottrade did not provide notification that his unsecured debit would
be sent to collections. I have researched this matter and am reporting my findings below.
 
In May 2014 our client incurred a considerable debit balance within his account and did not hold
any other securities to cover the amount owed to Scottrade. Since the client held an unsecured
debit an email was sent to the client notifying him that he would need to cover the amount with
cash. The client began making consistent monthly payments to cover this debit from May 2014
through July 2015. As the client was making consistent payments Scottrade did not take any
action on his account in good faith.
 
Between August and September 2015 Scottrade did not receive any payments so a letter was
mailed to the client's home address on September 30,2015 notifying him that he was past due on
his payments. The letter explained that if he did not continue to make payments that Scottrade
would be forced to report his account as delinquent to the national credit bureaus and may pursue
collection of his debt.
 
Scottrade did receive a payment from the client in October 2015 but after not receiving any
additional payments a second letter was mailed to the client on December 21, 2015 reiterating
that if he did not continue payments we may pursue collection of the debt through a collection
agency. The letter also explained that if he needed to make an arrangement for payments that he
could contact one of our Debt Recovery associates at the number provided. We were never
contacted by the client about making arrangements.
 
The client made a payment in January 2016 but did not make any additional payments the
following month. Since no payment was received in February a third letter was then mailed on
March 10, 20 16 reiterating that if he did not continue payments we may pursue collection of the
debt through a collections agency. Another month went by without any payments being made
and Scottrade sent a final reminder letter to the client on Apri14, 2016. After not receiving any
payments from the client since January 2016 Scottrade turned this unsecured debit over to a
collections agency on April 25, 2016.
 
Based on my findings I show Scottrade properly notified the client his debit was at risk of being
turned over to collections. The client never contacted Scottrade to make arrangements and after
three months of not receiving any payment from the client we turned the debit over to collections. It is my understanding that the client has since worked with the collections agency to
pay off the remainder of this debit.
 
Thank you for allowing us the opportunity to respond to this matter and we hope this
satisfactorily addresses our client's concerns.
 
Sincerely ..
 
Ryan O[redacted]
Investigation and Resolution Examiner

Complaint: [redacted]I am rejecting this response because:While I can appreciate their explanation. It is pretty clear or should be pretty clear by my issuing a payment immediately prior to receiving the collection notice and my prompt response to the collection notice once it was received, that I never received any of the notices that they claim to have sent.  It  should also be clear by my history of occasional payments that I was fully aware that this debt needed to be repaid and was willing and able to settle the debt without a collections agency getting involved despite receiving any formal agreement or payment plan. The collection agency didn't seem to have any trouble getting in contact with me. The only thing this situation seems to display is that Scottrade was unwilling to take reasonable measures to get in contact with a client who was paying them back. I admit some of my contact information was outdated. However, the phone number on the account was current and if they had expended a little bit of customer service and contacted me to update the rest of my contact information I would have received their notices. I also sent them checks that would have had my current mailing address which could have been updated in their system. I understand there are probably others who just refuse to pay their debt and ignore notices, but each case is unique and that is no excuse for poor customer service to a client that was making an effort to repay a debt.Sincerely,[redacted]

Good morning [redacted]The above complaint is in errorPlease cancel complaint.Please confirm this e mailThank you  so much
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution is satisfactory to...

me.
Regards,
[redacted]