Vehicle loan or lease -- Struggling to pay your loan -- Complaint #4746348
Complaint Overview
Complaint ID: 4746348
Company: Garcadia Financial LLC
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Struggling to pay your loan
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: Texas
ZIP Code: XXXXX
Date Received: 2021-09-22T12:00:00-05:00
Date Sent to Company: 2021-09-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I XXXX XXXX XXXX am a consumer pursuant to 15 USC 1692a ( 3 ). This is a notice to Foursight Capital that it is my intention to invoke my right to rescind the contract that was created on XX/XX/XXXX in between I, XXXX XXXX XXXX, a consumer and XXXX XXXX XXXX, and then assigned to Foursight Capital as an assignee creditor. Pursuant to 15 USC 1635 ( a ) Disclosure of obligors right to rescind Except as otherwise provided in this section, in the case of any consumer credit transaction ( including opening or increasing the credit limit for an open end credit plan ) in which a security interest, including any such interest arising by operation of law, is or will be retained or acquired in any property which is used as the principal dwelling of the person to whom credit is extended, the obligor shall have the right to rescind the transaction until midnight of the third business day following the consummation of the transaction or the delivery of the information and rescission forms required under this section together with a statement containing the material disclosures required under this subchapter, whichever is later, by notifying the creditor, in accordance with regulations of the Bureau, of his intention to do so. The creditor shall clearly and conspicuously disclose, in accordance with regulations of the Bureau, to any obligor in a transaction subject to this section the rights of the obligor under this section. The creditor shall also provide, in accordance with regulations of the Bureau, appropriate forms for the obligor to exercise his right to rescind any transaction subject to this section. I was never delivered the information and rescission forms required under this section together with a statement containing the material disclosures required under this subchapter. Pursuant to 15 USC 1635 ( b ) Return of money or property following rescission When an obligor exercises his right to rescind under subsection ( a ), he is not liable for any finance or other charge, and any security interest given by the obligor, including any such interest arising by operation of law, becomes void upon such a rescission. Within 20 days after receipt of a notice of rescission, the creditor shall return to the obligor any money or property given as earnest money, downpayment, or otherwise, and shall take any action necessary or appropriate to reflect the termination of any security interest created under the transaction.
Frequently Asked Questions
What is Complaint #4746348 about?
Complaint #4746348 was filed against Garcadia Financial LLC regarding Vehicle loan or lease specifically about Struggling to pay your loan. It was received by the CFPB on 2021-09-22T12:00:00-05:00.
How did Garcadia Financial LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Garcadia Financial LLC?
Yes, visit the Garcadia Financial LLC company profile at readthecomplaint.com/company/garcadia-financial-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.