Date Received: 2018-11-01
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Santander has been reporting delinquency statuses for XXXX XXXX and my husband, XXXX XXXX credit profiles to all three credit bureaus. The accounts has been paid in full/ XXXX balances since XXXX. The information was recently on the credit bureaus reported on XX/XX/XXXX indicated that the accounts are in delinquency status which is completely false. All accounts has been paid in full and have been closed for over five years. I dont understand why Santander is reporting inaccurate information for me and my husband. Santander accounts should be completely omitted from our credit profiles.
Company Response:
State: NJ
Zip: 07203
Submitted Via: Web
Date Sent: 2018-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-11-01
Issue: Struggling to pay your loan
Subissue: Lender trying to repossess or disable the vehicle
Consumer Complaint: In XX/XX/XXXX I inquired about purchasing a vehicle from XXXX in XXXX, TX. I was on a desperate situation in need of a way of transportation, and now knowing the consequences of my request, I ended up accepting a loan negotiated by XXXX with Santander Consumer USA, for a 3 year-old vehicle with a tag price of {$12000.00}. According to the loan contract, the amount financed was {$16000.00}, with a finance charge of {$12000.00}, almost the same value of the vehicle on a loan term of 72 months ( 6 years ) at a rate that surpasses the maximum lawful interest rate for usury laws ( 20.61 % vs. maximum lawful of 18 % in Texas ) for bad credit scores. When purchasing the vehicle I was just desperate and the seller was aware of it, so I feel I was abused in the midst of my desperation. I just trusted XXXX I would be able to afford the payments, hoping for things to change and get better in the future. I am a small business owner, so I am self-employed, and my income varies from season to season. At time of purchasing the vehicle, my payments were set to be paid on the XXXX of each month, but back then I was living at a relative 's house, so I did not have to pay rent. Given this circumstances, I decided to move my payment due date to the XXXX of the month, so this was the first bill I could take care of. A year later, my relatives moved back to the house I was living in, so I had to find a place to live. Now my rent became due on the XXXX and this date was no longer convenient considering my income flow. I requested Santander at that time to switch my payment back to the XXXX, but they said they only change the due date once during the life of the loan. This started to become the main issue, as I started to be late on my payments, causing me fees and higher interest, and obviously, extra income for the bank. During a season of very slow business, I got into a situation where I could not make my payments for 2 months, so my vehicle got repossessed in XX/XX/XXXX, and I was able to get it out of repossession the same day the vehicle was towed by Santander. Back then, the very first time I had to face something horrible like that, I was told by the agent assisting that they would lower my repossession fees and not charge me for the storage fee. Recently, I have been told by another agent, after paying again for my second repossession {$2000.00} to release the vehicle, that those charges are indeed part of my balance and still due. My vehicle has just been released of this second repossession that happened after an incident that caused a cosmetic repair which I am still paying for, because my insurance would not cover it, causing me to be again delayed on payments, while realizing the terrible lockup in which I found myself. Up until this day, almost 4 years after making this terrible and uninformed decision, I still owe Santander over $ 13K on a vehicle which value is a third of the amount owed. It is beyond proportion the amounts of money I am liable for, considering the much over cost this decision has caused me. I just need for you to provide some guidance and assess the situation : I accept my responsibility in having agreed to such a bad deal, but I just want to be released from a loan that I evidently can not afford, and one that is causing my credit to get even worse that before I purchased the vehicle. I was willing to voluntarily surrender the vehicle, but I am told that after that, I am still liable for the outrageous 20.61 % finance and charges. Please help me out of this!
Company Response:
State: TX
Zip: 77007
Submitted Via: Web
Date Sent: 2018-11-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-10-31
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: For 5 years now I have paid on a Santander loan that never seems to lower they will not lower my payments they will not lower my interest rate I pay on time they report to the credit bureau that I'm paying late it's automatically taking out of my savings account every month my over 10 year old car is costing me {$500.00} a month that I have paid for 5 years or more. They will not fix anything this is been going on for the past several years with too many phone calls and letters written to even count. It's destroyed my credit that otherwise would be fine as I have no derogatory marks on my credit.
Company Response:
State: MI
Zip: 48167
Submitted Via: Web
Date Sent: 2018-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-10-31
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I purchased a new XXXX XXXX XXXX in XX/XX/XXXX in which XXXX XXXX financed my car. I have noticed that when I make my monthly payments each month since XX/XX/XXXX to date the amount of my payment being applied to Interest vs. my Principal balance is not consistent. In fact, some months my entire monthly payment in XX/XX/XXXX is going to Interest only and none towards the principle balance. This seems like a deceptive practice and I still owe {$21000.00} on a XX/XX/XXXX car that is falling apart. My principal balance is not coming down due to the unexplained way my monthly payments are being applied ( primarily to interest ). I would like this investigated.
Company Response:
State: FL
Zip: 34491
Submitted Via: Web
Date Sent: 2018-10-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-10-31
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: The derogatory marks on my credit report is blemishing my credit report which prevents me from obtaining the credit that I deserve. I have made several attempts to resolve this issue by asking XXXX, XXXX and XXXX to remove late payments. The only responses were from auto generated letters stating that the accounts are valid. Under The laws of FCRA I have the right to dispute the validity of these accounts and proof from the credit bureaus must be given upon request.
Company Response:
State: LA
Zip: 71203
Submitted Via: Web
Date Sent: 2018-10-31
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-10-31
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: In XX/XX/2016 I purchased a vehicle ( XXXX XXXX XXXX XXXX XXXX from XXXX XXXX XXXX in XXXX XXXX Texas. I was then under a chapter XXXX bankruptcy and the court allowed me to obtain the vehicle through a loan from XXXX XXXX. It was my understanding that the vehicle would be reporting on my credit. For the following two years, the vehicle was reported on my credit as I was paying on time and without delay. The vehicle eventually fell off my credit report. The XXXX XXXX institution explained to me that they had done a review of their files/data base and my vehicle was no longer able to be shown under my credit report. I spoke to many customer service representatives to change this rule. The organization would not comply with my request due to the standing policy against having vehicles financed under chapter XXXX. I have since completed my chapter XXXX payments and the case has been discharged. The XXXX XXXX continues to not permit the vehicle to be shown on my credit report. I am now faced with the prospect of changing my loan to another organization so that my payments show on my credit report.
Company Response:
State: TX
Zip: 79912
Submitted Via: Web
Date Sent: 2018-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-10-31
Issue: Getting a loan or lease
Subissue: Fraudulent loan
Consumer Complaint: On XX/XX/XXXX, I visited XXXX XXXX of XXXX XXXX, VA. I was softly in the market for a new car. I found a vehicle I was interested in, and a salesman pressured me into seeing if I could get approved for financing. I live on a fixed, SSI XXXX income so I was concerned about over-extending myself. They got me approved for financing, but I was still skeptical due to the high monthly payments. It was a Saturday, so the salesmen told me I could take the care home and see how I liked it. By Sunday morning, I knew this was something that I didn't want to do. First thing Monday morning ( the XXXX ), I returned the vehicle to XXXX XXXX. The manager and salesmen were very angry with me, and told me I had to take the car. I told them that I had the right of rescission, and was well within my rights to return the vehicle and change my mind. After all, because it was the weekend, the paperwork had not even been sent to the finance company yet. I left the vehicle at the dealership in their possession. I assumed the issue was resolved at that point. Over the next several days, I was overwhelmed with phone calls from reps at XXXX XXXX saying that I had to come back to the dealership and pick up the car. I held steadfast, and told them that I had changed my mind, and did not want it. I had returned the car to the dealership within 36 hours and was well within my rights to do so. Again, I believe the issue to be resolved. To my surprise, the dealership actually delivered their car to my house on XX/XX/XXXX. I called the sheriff 's office about this, and asked them what I should do. They told me I should just take it back again, if I did not want it ; and that's what I did. I returned the vehicle again ( that same day ) and left it in their possession. Again, I thought the issue was resolved. Recently, I received a letter from a finance company called Santander talking about my interest rate on a car loan. I had no idea what this was about. I called them, and sure enough, this was for the car from XXXX XXXX. I explained the whole situation with the rep at the finance company, and they said they would make sure it was resolved. So despite returning the vehicle to the dealership before they even submitted the finance paperwork, and them knowing I did not want the car, the submitted the financing paperwork anyway. I can't believe the lengths that this dealership would go to try to force someone to buy a car they clearly did not want.
Company Response:
State: NC
Zip: 275XX
Submitted Via: Web
Date Sent: 2018-11-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-10-30
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: My payments to XXXX XXXX have not been applied correctly. I received a letter from XXXX around XX/XX/2018 stating {$1200.00} due by XX/XX/2018. I had made a payment as of around XX/XX/2018, have been making payments on time monthly since my last complaint back in XX/XX/2018. I am totally confused as to why a {$1200.00} payment was due & now, per XXXX, I am 6 months behind on payments. I called XXXX several times before and after XX/XX/XXXX to find out what was going on. I did not make XX/XX/2018 payment due to XXXX rep, finally letting me know 'no one could talk to me until they got clearance '. A call was received from XXXX as of XX/XX/18 while I was at work, a recorded message left to call back. I called back at XXXXXXXX XXXX this same date & spoke w/ XXXX , who states the car is set for repo at this time, that I am 6 months behind as of XX/XX/2018 in payments. I asked XXXX to explain to me how this was so & I had been consistently making on time payments. XXXX states there is a repo set what would I like to do. I did not have any response as I was not willing to make any payments & XXXX keeps sending me letters that I am behind. If I were really 6 months behind then the letter received for {$1200.00} would be incorrect. My payments are {$330.00} a month x 's 6 would be {$2000.00}. So I am completely confused as to why I received this letter in XXXX & XXXX states I was 6 months behind as of XXXX. The requested amount due does not even add up. XXXX did not even offer any other options, just repo set. I do not feel this is fair due to the fact that I have been consistently making on time proper payments. XXXX stated during this phone call that he would send my payment history by email & it has still yet to be received.
Company Response:
State: OR
Zip: 972XX
Submitted Via: Web
Date Sent: 2018-10-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-10-29
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: The company Santander Consumer USA incorrectly reporting payment history and payment status of an account in my name. I would like this issue removed from my credit report until it can be validated. The company is known for reporting falsely and inaccurately on accounts.
Company Response:
State: MD
Zip: 20772
Submitted Via: Web
Date Sent: 2018-10-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-10-29
Issue: Struggling to pay your loan
Subissue: Denied request to lower payments
Consumer Complaint: On XX/XX/XXXX I signed papers for a XXXX XXXX XXXX. The finance manager at XXXX of XXXX XXXX told me that this was a simple interest loan and to minimize interest pay it on a biweekly basis. My child got really sick in XX/XX/XXXX and was sick for 3 years which resulted in alot of medical bills. When I realized there was a problem, I called Santander - they have on their website that you can get lower payments which lowers the interest. The agents only offered to roll the payments to the end. They did this with 8 payments. Unknown to me at this time was the reason for the issue with the account was due to the payments being applied to interest only. No matter how many times I asked what happened to my payment and why isn't the balance going down, it was always a snarky response about my not making my payments and how can I not understand what a simple interest loan is. Normal simple interest loans have an amortization schedule that shows over time the balance getting smaller - how more and more of the payment goes to principal and less to interest. When I received a payment statement from Santander, I noticed that there were several payments that were applied only to interest. These interest only payments resulted in late payment charges and default notices. A significant thing I noticed was there was a period of about 15 months where it didn't matter what I paid, it went to interest only. This has happened several times, and it is believed will continue to happen. That is not a true simple interest loan. Someone is profiting from my detriment. Santander also holds the GAAP insurance and the agents have already told me that my payment history would be used to deny any claims that would arise. Again this is not fair because I had no idea that so many payments were posting to interest and trying to get answers from a customer service agent is impossible. After review of the payment statement - as of XX/XX/XXXX I have paid {$23000.00} on a car loan for {$22000.00} originated in XX/XX/XXXX for a used XXXX XXXX XXXX. The current payoff is {$17000.00}. Of that {$23000.00} only {$5700.00} went to principal and {$17000.00} went to interest. Of which over 24 payments were applied to interest only which generated a late fees and they generated a default status on the account. This creates a negative credit report which means I can not trade in the car. With a payoff of {$17000.00} on a car that is valued at maybe {$4000.00} ( XXXX XXXX shows a value of {$2100.00} ) - no dealership will accept the car as a trade, in other words, they can not get me out of this loan. When Santander did grant lower payments in XX/XX/XXXX, the documentation they had me sign has a clause in it that states that I will be paying more in interest. I had no idea that what that meant was I would continue having interest only payments that would have no effect on the principal balance. This means that based on the loan will never have an end. When I call I do not get answers. Just that my payment history XXXX and its a simple interest loan. The way the customer service agent talks to me it is as if I am too XXXX to know what a simple interest loan is. A normal simple interest loan would have an amortization schedule showing how payments are applied over time more of the payment is applied to principal and less to interest. That is not the case with this loan. There is no rhyme or reason to how these payments are posted because there is no consistency. I have not be able to get answers on why the payments are only posted to interest instead of a portion applying to the principal. The way Santander applies the payments, it appears that I am not making payments and they always show me 30 to 60 days even though a payment is made monthly. The car is only worth {$4000.00} and is leaking oil. With Santander posting so many payments to interest only, the loan will never be paid off. I have considered bankruptcy but that won't help me considering the car wont last until a bankruptcy would be discharged.
Company Response:
State: GA
Zip: 303XX
Submitted Via: Web
Date Sent: 2018-11-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A