Beneficial Finance Did not pay out full amount of credit due after I refinanced two of their loans. They still owe me $648.75 West Jordan Utah
I refinanced two loans I had with Beneficial Finance. I have paperwork showing that the loan pay-off amounts due through 3/20/04 were $59,937.38 and $11,095.81, which both included a reconveyance/releasing fee for $65.00 each.
On 3/16/04 Beneficial received the payoffs on both of these loans in the amounts above. My Beneficial loan balances showed a credit of $312.83 and $583.75, for a total credit due me of $896.58.
On 3/22/04 I received a check from Beneficial for $247.83. I have called 3 times to Beneficial, and have yet to recover the additional $648.75 that is due to me. When I called them they told me that there was a reconveyance fee and other charges on the account that reduced the credit due. Because the fee was already part of the pay-off amount, I argued with them that these fees were incorrect. I have reported this problem to both Beneficial and Utah State Attorney Mark Shurleff in writing.
Beneficial has already had a class action suit successfully brought against them from Utah State.
Ideas on how to solve this and get the rest of my money back?
Janice
Salt Lake City, Utah
U.S.A.