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Merchants Acceptance Corp

 Member | 526 inquiries |
Loan Companies

1314 Auburn Way North
Auburn, WA 98002
| Get Directions

(866) 883-2392

http://merchantsacceptance.com...

Mon - Sat : 7am - 11pm PST Sun : 7am - 10pm PST

Company Rating

AAA

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Customer Reviews

based on 3 reviews.

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Complaint Experience

100%

Complaint Resolution Index (CRI)

5 complaints closed in last 3 years.

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Membership Information

proud-member

Proud member since 03/09/2020
This company is a Member of Business Consumer Alliance.

Recent Review

Posted on 12/15/2020

Laid off

I reached out to Merchant Services, in an attempt to work things out before things progressed to collections. I lost my job due to COVID, just like everyone else right now I am struggling. I have to pay rent, I have car payments behind. I of course know I owe this money and wanted to come to some kind of fair middle ground with Merchant services. I received a severance from my company, and wanted to use that to pay this loan and see if they would accept that. They of course will not telling me, I am only offering 50% of the loan when in fact that is not the case because if I were to pay the loan off early they would not collect on the full balance as it is. If you look at the amount offered and what is already paid I offered 85% of the loan. I was told they do not settle on current accounts. Only past due, here I was trying to handle things responsibly before they got to collections. But they don't work with you until it reaches collections? Then I'm told they can defer a few months of payments and add them to the end of the loan, who does that help? I will still have to figure out how to make the payments after I get caught up on other bills. AND they will be making more money off me because the loan will go one for longer and they will get more interest. At the end they said they couldn't help me, and I told them I guess they could see if they get more money in collections than what I was offering to pay them. It really doesn't seem like they care about their clients, and the hardships they may be facing. Especially the ones who are still trying to do right by their loan and meet them half way.

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Complaints and Resolutions

Total Amount in Dispute:
$17,246.00

Total Amount Settled:
$0.00

Complaint Experience

100%

Complaint Resolution Index (CRI)

BCA's Summary and Analysis:

Our complaint history for this company shows the company gave proper consideration to complaints presented to them.

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Complaint Closing Statistics

5 complaints against Merchants Acceptance Corp closed in last 3 years.
Complaints Type of response
0 Making a full refund, as the consumer requested
0 Making a partial refund
2 Agreed to make an adjustment
0 Refusing to make an adjustment
3 Refuse to adjust, relying on terms of agreement
0 Unanswered

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Other Information

Company Info

Merchants Acceptance Corp provides high quality consumer financing for direct sellers across the United States.

Primary Contact: Jarod Yoder (Director of Business Operations)
Business Started: 10/7/1988
Social:
About Merchants Acceptance Corp

Merchants Acceptance Corp is a family owned and operated business located in the greater Seattle-Tacoma area specializing in direct sales financing.

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Licensing

We know of no licensing or registration requirement for companies engaged in this company's stated type of business.

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Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

We have no further comment about this company's business practices or analysis of its offer that may assist you in your consideration of this company.

Other Considerations

We know of no other matter or practice relating to this company that may assist you in your consideration of this company.

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Additional Info

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