ComplaintsforMcKenzie Banking Co.
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Complaint Details
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Initial Complaint
08/16/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
On November 18, 2023 I entered into a rent-to-own contract with McKenzie Banking Company via ****************** for a 12X16 shed. From January to June, my bank sent over a monthly payment in this amount to satisfy the $336.20 monthly rental lease payment each month. June 27th, I sent an email requesting in writing what the payoff amount was for the shed and was told the payoff was $5,767.15 if paid off by July 17, 2024. I then sent in two $2,000 checks, one that was processed on July 17th and the other that was processed on August 17th. I then emailed McKenzie Bank on August 15th asking what the payoff amount was given that I had just sent $4,000 towards the $5,767.15 payoff amount that was quoted. The company never replied to my email. Nor did they reply on June 27th, when I originally asked for an itemized statement of their payment records and a breakdown of charges. Therefore I called the company on August 16, 2024 and spoke with a representative. I asked the representative to provide me with a written itemized breakdown of charges and the representative told me that "by law we do not have to provide that information to you since this is a rent-to-own contract." I would have NEVER entered into this predatory situation if I knew this bank would be moving the bar of completion further and further out from what I originally that the total value of the shed I was purchasing originally. I kept asking if there was interest being accrued and the phone representative stated that there wasn't. I'm writing this complaint for someone to investigate the consumer payment practices of this company. If you look on ****** reviews you will see several customers complaining about the poor customer services and lending experience. I will never do business with this company again and I do want an answer to charges claimed by McKenzie Banking company. Note, I ran out of characters and cut out much of the storyCustomer response
09/13/2024
To whom it may concern,
On Sept 13, 2024 I received a call from *************************** with McKenzie Banking who provided me with the initial requested documents surrounding this complaint. He provided recompense for the experience and thus I have reached a satisfactory resolution and am withdrawing my complaint.
- KS
Business response
09/16/2024
To Whom It May Concern,
****************** was contacted by email and phone. The email is attached for reference.
I, ***************************, provided ****************** with a history of account activity, an account payoff breakdown, and an excel spreadsheet that helped assist in explaining the specific math and calculations used by our Rent to Own business. ****************** and I had a phone conversation over which we discussed how a Lease Purchase Agreement operates, an accounting of how her payments were applied, and a productive examination of how we may improve communication with our current and future customers. She had several very good suggestions that have been communicated to our team and are being reviewed for possible use in standard practices moving forward.
****************** conveyed that she was please with the response to her grievances and would consider removing her complaint should she have that option. As she was unable to locate such an option in the BBB system she added an additional item to her reporting in line what what I have reported above. This is also included in her response on the attached email.
Respectfully,
***************************
Foundation Bank
Project Solutions Partner
*************************************************
************Customer response
09/18/2024
To whom it may concern,
On Sept 13, 2024 I received a call from *************************** with McKenzie Banking who provided me with the initial requested documents surrounding this complaint. He provided recompense for the experience and thus I have reached a satisfactory resolution and am withdrawing my complaint.
- KS
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Customer Complaints Summary
1 total complaints in the last 3 years.
1 complaints closed in the last 12 months.