MarkOne Financial is the name used by MOF Holdings, LLC (f/k/a MarkOne Financial, LLC) (MarkOne), to operate a third-party auto loan agency based in Florida. Mark has received consumer complaints alleging violations such as improper communication tactics and sharing of information. If you have been contacted by MarkOne Financial, make sure you understand your rights before taking action.
According to public information available on the Florida Secretary of State website, MarkOne registered as a limited liability company in Florida in 2001, and changed its name from MarkOne Financial, LLC to MOF Holdings, LLC in 2017. The Better Business Bureau (BBB) established its profile page for MarkOne in 2014, but it lists the company as a “used car dealer” at a Georgia address. The information on the BBB profile page for Mark One does not appear to be complete or updated.
According to its website, MarkOne Financial “is a specialty finance company that purchases auto loans from both franchise and independent dealerships and delivers quality service” to all of its dealers and customers. “To better serve its dealers and customers, MarkOne unified its regional brands to launch MarkOne Financial as ONE national company.” According to Mark One, this “brings all of its experience and products together for dealers nationwide. The company’s long-term success will continue to be anchored by its determination to deliver excellence in service and quick and consistent funding.” MarkOne “purchases subprime and non-prime auto contracts nationwide” in 14 states. For car buyers, MarkOne Financial “helps people move forward with reestablishing credit or building credit for the first time” and is there for its customers from financing cars to helping them stay current on their accounts.
MarkOne Financial website provides information for car dealers and car buyers. Its dealer pages inform site visitors that MarkOne “is truly relationship driven with its contracted auto dealerships. Its pledge is to provide the highest quality service with excellence and consistency.” MarkOne invites dealers to experience the “People Buying People® philosophy” it uses “instead of rigid computer systems, scores and faceless transactions” and ensures dealers that “credit scores aren’t even used in its programs” and that each deal is evaluated “on its own merit.”At MarkOne, “if the deal makes sense, You’re good to GO!®” The dealer FAQs indicate that dealers need only complete “an auto fill PDF, print, sign and fax back” to MarkOne to sign up. More information is available by contacting MarkOne.
The car buyer pages ensure site visitors that MarkOne Financial wants to help them improve their credit “by providing information, assistance and creating a path to a brighter credit future.” MarkOne provides information about credit scores and a link for site visitors to obtain a credit report and advises site visitors that “with proper attention paid to the state of their credit, they could very realistically lift themselves out of subprime territory.” MarkOne also states that those who “have been turned down by others before finding MarkOne” could improve their credit profiles “in a short period of time, with timely and on-time payments”, which may allow them to “take advantage of programs only offered to people with higher credit scores.” The website also gives car buyers payment and contact information.
The MarkOne Financial website does not provide a lot of detailed information about its business practices or compliance policies. It does include standard, legally mandated information about information privacy and security.
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The BBB website states that the BBB has closed 5 complaints against MarkOne Financial in the past three years, but, again, the information on the profile page does not appear to be complete or updated. The complaints that are listed allege problems with billing, collections, and customer service. Since October 2013, the Consumer Financial Protection Bureau (CFPB) has received 25 complaints about MarkOne, which the CFPB lists under MarkOne’s parent company, MarkOne Holdings, LLC. Those complaints raise issues with billing, collections, improper communications and sharing of information, and credit reporting. Justia lists at least 8 federal civil lawsuits involving MarkOne Financial.
Absolutely. Here are some Sample Cases against MOF Holdings.
According to the BBB website, complaints against MarkOne Financial raise issues with billing, collections, and customer service. Specifically, consumers complain that they are unable to resolve loan payment problems even after following the direction of company employees.
In September 2017, a complainant indicated that MarkOne Financial employees “disregarded his statements”, “dehumanized” and harassed him, and provided “totally rude and unacceptable customer service” when he contacted the company to obtain information about his car loan. The complainant alleged that he contacted MarkOne to explain that his car had been in the mechanic’s shop more than on the road since he purchased it. The MarkOne employee explained that since the car had not been in any accidents, there was nothing she could do. According to the complainant, the MarkOne employee then brought a manager into the conversation and the manager told her that the issue the complainant raised did not “have anything to do with her.” The complainant then asked if the manager could give him information about his title, but she refused even though the dealer had told the complainant that this information would have to come from the lender or the DMV. The manager then started to “harass him, asking for payments and refused to talk about options that he had as a customer.” The complainant indicated that if there was no resolution of the issue, he would “move forward with a lawsuit.”
In July 2016, a consumer complained to the CFPB that she purchased a car a year earlier from a used car dealer financed by MarkOne Financial, but later learned that the car did not have clear title. The complainant alleged that the dealer did not disclose that there was a “title loan on the vehicle”, which was never repaid. According to the complainant, MarkOne financed his car loan and should have conducted a title search before approving the loan, but apparently did not do so. The complainant alleged that this left him to make payments on the car note for a car that has a lien on it. Although MarkOne Financial had assured the complainant that it would “take care of the problem” and continued to take his car payments, four or five months had passed and when the complainant contacted MarkOne again, MarkOne representatives told him “they would not be able to help” him and that he “would have to figure it out on his own…” The complainant indicated that MarkOne Financial wanted him “to pay off a loan for nothing” since it could not produce clear title. The CFPB report on the complaint indicates that Mark One’s response to the complaint was not timely, but that the complaint was “closed with monetary relief.”
MOF Holdings, LLC (f/k/a MarkOne Financial, LLC and d/b/a MarkOne Financial)
10752 Deerwood Park Blvd
South Waterview II, Suite 100
Jacksonville, FL 32256
Telephone: (904) 899-8655
Understanding Your Debt Collection Rights
Consumers are protected from abusive debt collectors from the Fair Debt Collection Practices Act (FDCPA). By way of instance, the debt collector must identify himself or herself, who they’re working for, and what debt they’re collecting. The FDCPA claims that debt collectors can’t use any deceptive or misleading representation, like implying the debt is secured by the USA or any particular state. Additionally, they can’t use a badge or uniform to pretend they’re a government employee collecting a debt. Misrepresentation is a violation of the FDCPA and could be reported as such.
In case you’ve been a victim of a debt collector’s wrongdoing, then you can search for justice under the FDCPA. You have the right to pursue a claim against the debt collector; if you prevail, you can collect up to $1,000, plus attorney fees and court costs.
Your debt harassment checklist:
- You are receiving multiple calls per week from third party collection agencies
- You are receiving early morning or late night calls from debt collectors
- You are recieving calls at work from a debt collection agency
- Debt collectors are calling your friends, neighbors, or coworkers
- Collectors are threatening you with violence, a lawsuit, or arrest
- A debt collector attempts to collect more than you owe
- You are being threatened with negative credit reporting
- A debt collector attempts to intimidate you
- Criminal accusations are being made towards you
- Use of obscene language during an attempt to collect
- Automated robocalls are being made to your phone in an attempt to collect
If you’ve been harassed by debt collectors and even one of these has happened to you, we can help. We will fight for your rights.
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