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CUMBERLAND FINANCIAL SERVICES, INC.

CUMBERLAND FINANCIAL SERVICES, INC.

Company Details

Name:	CUMBERLAND FINANCIAL SERVICES, INC.
Legal type:	Kentucky Corporation
Status:	Active
Standing:	Good
Profit or Non-Profit:	Profit
File Date:	13 Aug 1997 (28 years ago)
Organization Date:	13 Aug 1997 (28 years ago)
Last Annual Report:	10 Feb 2025 (2 months ago)
Organization Number:	0437123
Industry:	Non-Depository Credit Institutions
Number of Employees:	Small (0-19)
ZIP code:	40517
City:	Lexington
Primary County:	Fayette County
Principal Office:	153 PATCHEN DR STE 53, LEXINGTON, KY 40517
Place of Formation:	KENTUCKY
Authorized Shares:	75

Registered Agent

Name	Role
JAMES S. MILLER	Registered Agent

President

Name	Role
James S Miller	President

Secretary

Name	Role
Lester E Dees	Secretary

Vice President

Name	Role
Ronald J Toomer	Vice President

Director

Name	Role
Jim s Miller	Director

Incorporator

Name	Role
RONALD J TOOMER	Incorporator
LESTER E DEES	Incorporator

Licenses

Department	License Number	License Type / Line of Authority	Status	Issue Date	Effective Date	Inactive Date	Expiry Date	Address
Department of Insurance	DOI ID 400851	Agent - Life	Withdrawn	-	-	-	-	-
Department of Insurance	DOI ID 400851	Agent - Property	Withdrawn	-	-	-	-	-
Department of Financial Institutions	1520	Consumer Loan	Closed - Surrendered License	-	-	-	-	153 Patchen Drive Suite 53Lexington , KY 40517
Department of Insurance	DOI ID 400851	Agent - Limited Line Credit	Active	2022-06-07	-	-	2026-03-31	-
Department of Insurance	DOI ID 400851	Agent - Credit Personal Property & Unemployment	Inactive	1998-02-02	-	2000-08-07	-	-
Department of Insurance	DOI ID 400851	Agent - Credit Life & Health	Inactive	1997-10-01	-	2000-08-07	-	-

Filings

Name	File Date
Annual Report	2025-02-10
Annual Report	2024-01-22
Annual Report	2023-03-17
Annual Report	2022-01-04
Annual Report	2021-01-11
Annual Report	2020-02-12
Annual Report	2019-03-06
Annual Report	2018-04-12
Annual Report	2017-03-07
Annual Report	2016-02-16
Annual Report	2015-03-04
Annual Report	2014-01-23
Annual Report	2013-01-09
Annual Report	2012-01-12
Annual Report	2011-02-23
Annual Report	2010-03-15
Annual Report	2009-01-21
Annual Report	2008-01-15
Annual Report	2007-01-19
Annual Report	2006-02-27

CFPB Complaint

Complaint Id

Date Received

Issue

Product

6740436

2023-03-23

Incorrect information on your report

Credit reporting, credit repair services, or other personal consumer reports

Issue	Incorrect information on your report
Timely	Yes
Company	Cumberland Financial Services, INC.
Product	Credit reporting, credit repair services, or other personal consumer reports
Sub Issue	Account information incorrect
Sub Product	Credit reporting
Date Received	2023-03-23
Submitted Via	Web
Company Response	Closed with explanation
Consumer Disputed	N/A
Date Sent To Company	2023-04-25
Company Public Response	Company believes complaint represents an opportunity for improvement to better serve consumers
Complaint What Happened	At the end of XXXX I took out a loan for XXXX 's XXXX with Cumberland Financial Services on a 6 months same as cash for {$6200.00}. In XXXX I paid {$2200.00} towards the balance. On XX/XX/2023 I paid {$4000.00} to pay the loan in full prior to the 6 months. As of XX/XX/2023 this is still showing on my credit report as open with a balance. I have filed a dispute with XXXX but they keep sending me back to Cumberland Financial. I have been on the phone and in emails asking Cumberland Financial to correct this and they keep saying it has been reported there is nothing else they can do. I requested proof that this was reported on 2 separate occasions with no response. I need this removed from my credit report with XXXX immediately.
Consumer Consent Provided	Consent provided

3913358

2020-10-22

Charged fees or interest you didn't expect

Payday loan, title loan, or personal loan

Tags	Servicemember
Issue	Charged fees or interest you didn't expect
Timely	Yes
Company	Cumberland Financial Services, INC.
Product	Payday loan, title loan, or personal loan
Sub Product	Installment loan
Date Received	2020-10-22
Submitted Via	Web
Company Response	Closed with explanation
Consumer Disputed	N/A
Date Sent To Company	2020-11-16
Company Public Response	Company believes the complaint is the result of a misunderstanding
Complaint What Happened	I obtained an interest free loan from Cumberland Financial Inc, XXXX, KY, for a hot tub I purchased in XXXX of 2020. This was supposed to be interest free or same as cash for the duration of the loan. However, Cumberland Financial has added interest onto the loan stating that due to a attempted auto payment that did not go through back in XX/XX/2020, this is no longer an interest free loan. I have had difficulty every single month with Cumberland charging the incorrect bank account. They said they have 4 different bank accounts listed for me. I told them over and over which is the correct account yet they continue to charge the incorrect account. I have NEVER been 30 days past due on this account! However, Cumberland Financial said because the payment was 10 days past the due date, they automatically took my account off of the interest free status. The reason they received the payment ten days past the due date was because they tried to charge the wrong bank account! Also, conveniently, they never called to inform me the payment didnt go through until after the ten day period. Obviously, this Is pretty shady and completely unprofessional! Cumberland Financial does not have a website that you can go to in order to make payments online or even check your account like most companies in 2020! They purposely make it difficult to monitor your account and/or make payments! The only way to check on your account or correct your banking information is to call somebody. Clearly this gives room for human error to occur. The employees and manager of Cumberland Financial are completely unreliable and unprofessional! I fully believe they are running a scam on their same as cash financing! They purposely charge the wrong bank account for your monthly payment and then inform after their 10 day late policy, in order to remove your account from the same as cash status and charge you outrageous interest!!
Consumer Consent Provided	Consent provided

Sources: Kentucky Secretary of State