Date Received: 2020-05-23
Issue: Struggling to pay your loan
Subissue: Loan balance remaining after the vehicle is repossessed and sold
Consumer Complaint: I bought a car and Santander Bank was the lender charged me 21 % and XXXX for 74 months they got a lawsuit for price gouging and I am suing also I have asked numerous times I want it off my credit. Dates bought it XX/XX/XXXX repoed in XX/XX/XXXX lemon car.
Company Response:
State: NJ
Zip: 08755
Submitted Via: Web
Date Sent: 2020-05-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Problems at the end of the loan or lease
Subissue: Problem related to refinancing
Consumer Complaint: In XXXX of 2019, I called Santander Consumer inquiring about refinancing. I was informed that they do not refinance by the representative and shortly after that I started receiving missed payment notifications on my credit report. My credit score started off in the low XXXX 's and now is in the mid XXXX 's. The main reason as to why I called about refinancing was because my interest rate is high. I have worked diligently to change that and I have. I have called them on several different occasions on this matter but have had no response on this particular matter. No one will refinance me now because I show have recent late payments. I have paid my bill the same way since starting the loan. I never received any mail regarding in delinquencies on my account primarily because they have been reluctant to put real address on any of my mail. The dealership, Santander Consumer, and the credit bureaus all have been made aware of my address being incorrect. No entity has corrected it yet.
Company Response:
State: TX
Zip: 77026
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Struggling to pay your loan
Subissue: Denied request to lower payments
Consumer Complaint: A coalition of 34 attorneys general led by Illinois Attorney General XXXX XXXX, announced on XX/XX/XXXX, a settlement with Santander Consumer USA Inc. ( Santander ) that includes approximately {$550.00} XXXX in relief for consumers with even more relief in additional deficiency waivers expected. The settlement resolves allegations that Santander violated consumer protection laws by exposing subprime consumers to unnecessarily high levels of risk and knowingly placing these consumers into auto loans with a high probability of default. The XX/XX/XXXX settlement stems from a multistate investigation of Santanders subprime lending practices. In XX/XX/XXXX, the Illinois Attorney Generals office led the coalition in opening the investigation into the largest subprime auto financing company in the country after receiving an increase in consumer complaints related to subprime auto loans. Based on the multistate investigation, the coalition alleges that Santander, through its use of sophisticated credit scoring models to forecast default risk, knew that certain segments of its population were predicted to have a high likelihood of default. Santander exposed these borrowers to unnecessarily high levels of risk through high loan-to-value ratios, significant backend fees, and high payment-to-income ratios. The coalition also alleges that Santanders aggressive pursuit of market share led it to underestimate the risk associated with loans by turning a blind eye to dealer abuse and failing to meaningfully monitor dealer behavior to minimize the risk of receiving falsified information, including the amounts specified for consumers incomes and expenses. Finally, the coalition alleges that Santander engaged in deceptive servicing practices and actively misled consumers about their rights, and risks of partial payments and loan extensions. Under the settlement, Santander is required to provide relief to consumers and, moving forward, is required to factor a consumers ability to pay the loan into its underwriting. I am a customer of this company and I am not happy about this. I seriously want out of this loan if they can do that. I am tired of the high interest rates as well. and they are not reporting my balance correctly to the credit reporting agencies. and they are reporting it as past due.
Company Response:
State: NC
Zip: 283XX
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: Santander Consumer USA loaned me {$16000.00} in 2016 with a variable interest rate. Also my monthly payment is applied ( 95 % to interest, 5 % to principal ).
Company Response:
State: NJ
Zip: 080XX
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Problems at the end of the loan or lease
Subissue: Problem with paying off the loan
Consumer Complaint: My name is XXXX XXXX. My customer number is XXXX. I have attempted to speak to a XXXX regarding my request to reduced my payoff amount since XX/XX/2012. Each time I have called the rep that took my call has stated/offered one of the following response .... 1. " We do not reduce settlement offers '' 2. " I will transfer you ''. 3. The call is mysteriously ended. 4. Placed on hold indefinitely. 5. " We will get back to you '' I have left several messages with managers without a returned phone call. I have not yet been able to speak to an AVP. This is unacceptable treatment. They have ruined my credit. It shows a charge off and delinquent payments. I am an XXXX and this has caused me to be denied for business loans, personal loans, credit cards and mortgages. I had to get another vehicle with a high interest rate because of their actions. During this time I was in negotiations with State Wide ( the third party insurance company ) attempting to increase the amount they have offered for my totaled vehicle. On XX/XX/2012 I received a letter from Santander stating they have accepted an offer that is over {$4000.00} LESS then my payoff amount. I am confident I would have been able to get Statewide to increase the amount offered as they had not included over {$4000.00} in extra accessories which I have receipts for. Now that the your total loss department has prematurely accepted and offer, all negotiations has ceased. I am requesting that Santander close out my account in good standing with a {$0.00} balance. I can be reached @ XXXX XXXX XXXX I am requesting a response within 24 hours or further action will be taken. Best regards XXXX XXXX
Company Response:
State: TX
Zip: 752XX
Submitted Via: Web
Date Sent: 2020-05-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Struggling to pay your loan
Subissue: Denied request to lower payments
Consumer Complaint: XX/XX/XXXX I went to XXXX XXXX in XXXX XXXX, SD to purchase a newer vehicle. I fell in love with the XXXX XXXX XXXX I test drove and now am the owner of that car and have been since that day. I was guaranteed financing by XXXX XXXX the sales person I had but when I got there they had issues finding financing for me due to my bad credit history. Ultimately I was still able to get the car as they said Santander Consumer USA would finance my car. Weeks later I was getting harassed by the finance guy I had ( can not remember his name ) by telling me I lied about my income which I did not in any way ( I was just starting a new job in XXXX at an XXXX XXXX XXXX authorized XXXX XXXX and was offered and accepted the job for $ XXXXhr plus XXXX XXXX commission. Saturday night, a day and a half before I was going to start, my manager calls me at XXXX to let me know my pay was not going to be $ XXXX/hr and it was going to be $ XXXX/hr and XXXX XXXX commission. I was trapped by that awful company and had no other choices as I turned down the other employment offers when I had taken this one at XXXX/XXXX and XXXX XXXX commission and had my new car to pay. ) I informed the finance guy I was working with and sent proof of the severe pay decrease. A couple weeks later I had not received the check to pay the tax on my car at my local DMV when I bought the plates and my temporary dealer licence window paper expired and the dealership told me to still drive it even though it is illegal. The financing guy told me they were having a hard time getting santander to finalize the auto loan and it took a couple months. Santander Consumer USA and XXXX XXXX asked me to pretend that my coworker with the same job title and position I had pretend to be from the hr department to verify my employment as my store manager was off that day. I did not do that as it would have been fraud. A few days later I got a DENIAL letter from Santander Consumer USA for my auto loan and I called to inquire about it and was told by numerous employees they had no record of me being sent a DENIAL letter or any reason I would have received one. My interest rate is over 20 % and awful and I am a victim of these predatory lending practices. I was given a loan with payments I could not afford. Nearly {$420.00} minimum payment to cover the interest and very little principal. I was making $ XXXXmonth after taxes and I am a single mother and sole provider of XXXX children I have 100 % of the time with no shared custody or visitation. I was also called a piece of XXXX customer by XXXX XXXX the General manager of XXXX XXXX in the stores lobby in public at a table and asked what he could do to never get me to be a XXXX XXXX customer ever again. I was crying and bawling in the lobby at the table in public at XXXX XXXX in XXXX XXXX, South Dakota. I need your help please!!! I have defaulted on my santander consumer usa auto loan a few times including my very first payment. also, the finance guy I worked with at XXXX XXXX forced me to buy the service contract and said if I did not get it, I would not get any approved financing and that is not legal.
Company Response:
State: MN
Zip: 562XX
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-22
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Was not notified of investigation status or results
Consumer Complaint: I was shocked when I reviewed my credit report and found late payment on the dates below : XX/XX/2019 I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me, or the payment was not applied as fast as expected. I checked my bank account and noticed that you deducted the money out of my checking account that on the month that you marked me late on my credit report.
Company Response:
State: GA
Zip: 30294
Submitted Via: Web
Date Sent: 2020-05-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-21
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Car was repossessed, account showed closed but Im still negative credit reporting ... car was sold. Santander Settlement
Company Response:
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2020-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-21
Issue: Problems at the end of the loan or lease
Subissue: Problem with paying off the loan
Consumer Complaint: Loan Maturity date XX/XX/2020. Balance as of this day {$9900.00}. After 4 payments that equal XXXX X 4 = XXXX and {$600.00} in late fees on XX/XX/2020 the balance will be {$7900.00}. I am confused as to why the balance will remain at maturity. We did defer 6 payments and this would explain XXXX but we did not understand that the maturity of the loan remained the same and this amount would be due at maturity. Also we tried to use GAP 2 years ago after a hail storm damaged this vehicle and we were told any payment made late was not covered by the GAP insurance. They still deducted the GAP insurance fee that month but stated that month was not covered. This made it impossible to use the GAP if the late payments would not be applied to help pay off the vehicle so GAP was null and void. I would think a refund of the GAP insurance would be deducted from this balance. What will happen if we can not pay the remaining balance at maturity date?
Company Response:
State: TX
Zip: 75455
Submitted Via: Web
Date Sent: 2020-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-21
Issue: Managing the loan or lease
Subissue: Problem with fees charged
Consumer Complaint: Yes. My complaint is with Santander Consumer usa. Its an auto loan account that originated at {$18000.00}. The term of the loan was 72 months @ $ XXXX@ 23.16 %. The loan begin in XX/XX/XXXX. We are in now in XXXX. i have been paying on this loan for over 75 months and i still owe over {$8000.00}. I wanted to talk with someone in a higher department but i cant reach them. The staff seems like they dont care about their customers. Its seems to me all they care is about there money. I have notice this company have been sued numerous amount of times in different states ( XXXX XXXX Santander vs Massachusetts ) including a major recent suite for over {>= $1,000,000}. Now i'm writing this because the issues that i here in these cases are the same issues i'm facing with them too. Example are You still owe them outstanding balances after you paid off the term of the loan, There's no one that can honestly give you correct information, Its seem to me you cant reach no one higher in rank to discuss you situation because of corruptness of the company. They seem to put there workers on the frontline to do their dirty work. The way things are going i will be paying right at {$50000.00} dollars for a {$18000.00} loan. This company is greedy, not caring and dishonest to their customers.
Company Response:
State: GA
Zip: 303XX
Submitted Via: Web
Date Sent: 2020-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A