Santander Consumer USA Reviews (%countItem)
Santander Consumer USA Rating
Address: 1601 Elm St. STE 800, Dallas, Texas, United States, 75201-4701
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+1 (214) 237-2421 |
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Predatory lending, extremely high rates, bad costumer service, bad user experience please run as far and fast as possible from them
Predatory lending, extremely high rates, bad costumer service, bad user experience please run as far and fast as possible from them
I am calling in my payments and Santander is not taking them our of my account and charging me interest and giving me 30 and 60 days late fees. On Jan 11th I set my payment to come out to pay the payment that was due Dec 31st. and they took out 2 payments without my permission. I set up one for $250 and they took out $250 plus $458. Equaling $708. I called my bank and Santander. Santander listened to the call and reversed the second payment. So one payment was made only $250 was made. I paid an additional $10 to set this up with a personSo I called and set up that second payment to come out Jan. 26th for $458 ($10 fee for live person) I called 3 times on the 23rd to get this set up. When the payment did not come out I called Santander and they listened to the calls. They told me, although I set the payment up and told 3 different people to set the payment up they said the call was ended before the customer service rep could complete the set up. I asked why wasn't I called back. Since it was clear that I was trying to make a payment on the 26th. Which was my payday. I was told that in Nov 2018 a system error put me on the DO NOT CALL. I was still told me it is not their fault. They removed me from the do not call. (But this system error of putting me on the do not call doesn't make sense because I was called by Santander in Jan. to resolve my double payment.) I filed a complaint with the credit dept Because NOW the payment was 30 days past due. I was told this was not their fault. Although I called and set the payment I thought it was set and the CSR not only didn't complete but failed to let me know it wasn't set up and didn't call me back due to "system error"So I called back in to set up 2 payments. The First would come out on Feb.23. for $458 and the second would come out Feb 28th. That would make me avoid now a 60 and catch me up. Both payments were set up with a CSR for the additional $10 fee. So a total of $20 extra on CSR.Once Feb.23 and 28th passed *** no payment taken out I called Santander 3 times to ensure that this was set up to be taken since the last time they failed to do so. Each time I was told that the payments are set up and it can take up to 5 business days to process. ( all other ACH payments from Santander have been processed in 2 days) So That I knew something wasn't right. The fact that they were now changing how many days it takes to show on my bank. My Jan and Feb. payments it seems they are intentionally lying to me about the payments being set up. I have made many phone calls to Santander in Jan and Feb because there have been so many issues with my payments. I asked them to send me my phone calls and they told me they have to be subpoenaed I have no right to hear them.I've never had a problem until now I am nearing the end of my loan. I was just old last week This car will be paid off on Nov 2020. and that less of my payment is going to interest and more is going to principal "if" I am not late. I believe they are creating late payments without setting the payments up on purpose. This was a high interest loan and they don't want to make less on it. They are being reckless with my credit and completely lying to me about my payments being set up as well as telling me its NOT their fault the CSR never completed the payment . Its NOT their fault I was put on a DO NOT CALL list and even worse with the last 2 payments that never came out. I was told by 3 CSR's last week everything is fine and set up it just takes 5 days. Now it is 7 days and still no payment came out.During this process in Jan 2019 I only received one call from them and it was about my complaint of the double payment IN FEB I received ZERO CALLS. Even though I am not on a do not call listMarch 1st Santander called me did not leave a Voicemail and I called back after work and they said they were closed and wont be open until Monday. They also have my email and have NOT emailed me either. I have been
Other (requires explanation) Other (requires explanation)1) TAKE THE PAYMENTS I GAVE AUTHORIZATION FOR TO BE PAID OT DATE2) CORRECT MY CREDIT REPORT3) GIE EXPLNATION ON WHY THEY ARE TELLING ME MY PAYMENT IS SET UUP , NOT TAKING MY PAYMENT. THEN TELLING ME I AM LATE4) ENSURE THE FINAL YEAR OF MY LOAN I AM NOT FINANCILALLY ABUSED BY THIIS ABNK DO TO THE FACT IT IS ALMOST PAID OFF AND MY FUTURE PAYMENTS WILL BE PROCESSED WHEN I CALL IN
March 20, 2019
***
*** BOX 2171
Brentwood, TN XXXXX
Re: Revdex.com Case # XXXXXXXX
Santander Account No.: ***0862
Dear Ms.
We have received your complaint submitted through the Revdex.com (Revdex.com). Thank you for this opportunity to address your concerns regarding your Santander Consumer USA Inc. (Santander) account.
Our records indicate that you entered into a Retail Installment Sale Contract (Contract) on August 15, 2015 with Speedway Motors Inc. (Dealership) in connection with the purchase of a 2006 Mercedes CLK (Vehicle). The amount financed was $15,588.00 at an annual percentage rate of 22.32%. The payment schedule called for 72 monthly payments of $437.14 each, with the first payment due on September 29, 2015. The Contract was assigned to Santander.
By signing the Contract, you affirmed that you understood and agreed to all terms and conditions therein. We refer you to the Truth-In-Lending Disclosures on Page 1 of the enclosed Contract. The Total of Payments that you agreed to pay was $26,228.40 if all payments are made as scheduled.
After a thorough review of the account, we have determined that the reduction of the principal balance is accurate. In the agreed upon auto finance Contract, it shows that the account is calculated using the Simple Interest Method. This means the balance accrues interest on a daily basis and assumes the customer will make their payment on the regularly scheduled payment due date. The daily accrued interest is calculated at the contract rate based on the principal balance. The amount of interest accrued can vary, and is based on the amount of the principal balance and the number of days between payments.
In regard to the allocation of payments submitted on your account, please note that when payments are received they are first applied toward interest and past due payments, then toward next scheduled payment and lastly toward fees, if any.
Over the life of the account you requested and were granted a total of 2 monthly payment extensions. Additionally, payments were submitted late to the account, of which 30 were paid more than 10 days late, which caused late fees in the amount of $618.07 to be assessed to the account. In addition, please note that at times payments were received in amounts less that your regular payment amount. Also, five payments were returned by your financial institution for Stop payment and non-sufficient funds.
Our records show that a Temporary Modification Agreement (Agreement) was granted on your account on July 13, 2017. The Agreement lowered your payments for a term of 6 months from $437.14 to $262.28 beginning on July 29, 2017 and expiring on December 29, 2017. A copy of the signed Agreement is enclosed for your review.
Due to the payment assistance and irregular payment pattern, more interest accrued between payments, causing the principal balance to reduce more slowly. If payments had been submitted in a timely manner, according to the contracted payment schedule, the principal balance would have been less. Please note that your account indicates a new maturity date of November 29, 2020.
In regard to your payment arrangement requests, please note that our records indicate your requests were not processed as the calls were not fully completed and the call at times was disconnected. We were unable to proceed with your payment arrangement requests as your authorization was required. In addition please note that we attempted to reach you and were unable to make contact with you after the calls were disconnected. In the future, please wait for confirmation that the arrangement has been processed. We are unable to process the payments that were originally scheduled in January and February 2019 due to the explanation above.
Please note that the following payments were posted to your account from December 2018 to the present date:
Due Date Payment Received Effective Date Payment
Amount Due Date
After Payment Days Past Due
11/29/18 12/28/18 $437.14 01/29/19 61
11/29/18 12/28/18 $250.00 01/29/19 61
N/A 12/28/19 Stop payment Reversal $437.14 12/29/18 N/A
12/29/18 02/23/19 $438.00 01/29/19 56
01/29/19
02/26/19 $406.00 02/28/19 28
N/A 02/23/19 Stop payment Reversal $438.00 01/29/19 N/A
N/A 02/26/19 Stop payment Reversal $406.00 12/29/18 N/A
03/08/19 12/29/18 $844.00 02/28/19 61
A review of the account indicates you advised us that you were obtaining an attorney therefore your account was noted as such. We are unable to corroborate your statement that account indicated Do not Call status.
In regard to your statement that Santander made unauthorized payments, if after reviewing the enclosed payment history, you believe that there were debited in error or any payments that were not credited to the account, we request that you provide us with an unaltered bank statement or the front and back of the cashed payment, which reflects Santander's endorsement, so that we *** further review this matter.
For a prompt response to your request, you *** send the signed requested information by:
Fax: (XXX) XXX-XXXX; or
Mail: Santander Consumer USA Inc.
Attn: Legal Department
1601 Elm Street, Suite 800
Dallas, TX XXXXX
Once the additional information is received, the matter will be reviewed and an updated response will be provided.
As a matter of information, Santander as current policies and procedures that meet the Federal and State requirements necessary to be in compliance with certain debt collection practices, as it is Santander's objective to protect its customers from unfair debt collection acts.
The Fair Credit Reporting Act states that we are required to accurately report all account information to the credit reporting agencies. Please note that we provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion and Innovis. It *** be necessary to contact the agencies directly regarding any disparity between reports.
A review of the information provided to the credit reporting agencies shows that on January 31, 2019, we advised the agencies that the account was Current with a balance of $24,373.00 with a history of 2 times 30 days or more past due and 1 time 60 days or more past due.
We respectfully decline your request to make adjustments to the account balance or make any changes to your credit reports at this time, as we have confirmed that the information reported matches our records.
As of the date of this letter, the balance on the account is $10,573.44 which does not include accrued interest. Late fees of $173.56 remain unpaid on the account and a miscellaneous fee of $30.00 remain unpaid for returned payment fees. Your account indicates due for February 28, 2019.
Enclosed please find copies of the account Contract, Agreement and payment history for your review.
We apologize if you feel that you have been treated in an unprofessional manner, and for any inconvenience caused. Our customers' concerns are important to us and we appreciate your feedback regarding this matter. If further assistance is needed, we *** be contacted directly at X(XXX) XXX-XXXX.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
I am calling in my payments and Santander is not taking them our of my account and charging me interest and giving me 30 and 60 days late fees. On Jan 11th I set my payment to come out to pay the payment that was due Dec 31st. and they took out 2 payments without my permission. I set up one for $250 and they took out $250 plus $458. Equaling $708. I called my bank and Santander. Santander listened to the call and reversed the second payment. So one payment was made only $250 was made. I paid an additional $10 to set this up with a personSo I called and set up that second payment to come out Jan. 26th for $458 ($10 fee for live person) I called 3 times on the 23rd to get this set up. When the payment did not come out I called Santander and they listened to the calls. They told me, although I set the payment up and told 3 different people to set the payment up they said the call was ended before the customer service rep could complete the set up. I asked why wasn't I called back. Since it was clear that I was trying to make a payment on the 26th. Which was my payday. I was told that in Nov 2018 a system error put me on the DO NOT CALL. I was still told me it is not their fault. They removed me from the do not call. (But this system error of putting me on the do not call doesn't make sense because I was called by Santander in Jan. to resolve my double payment.) I filed a complaint with the credit dept Because NOW the payment was 30 days past due. I was told this was not their fault. Although I called and set the payment I thought it was set and the CSR not only didn't complete but failed to let me know it wasn't set up and didn't call me back due to "system error"So I called back in to set up 2 payments. The First would come out on Feb.23. for $458 and the second would come out Feb 28th. That would make me avoid now a 60 and catch me up. Both payments were set up with a CSR for the additional $10 fee. So a total of $20 extra on CSR.Once Feb.23 and 28th passed *** no payment taken out I called Santander 3 times to ensure that this was set up to be taken since the last time they failed to do so. Each time I was told that the payments are set up and it can take up to 5 business days to process. ( all other ACH payments from Santander have been processed in 2 days) So That I knew something wasn't right. The fact that they were now changing how many days it takes to show on my bank. My Jan and Feb. payments it seems they are intentionally lying to me about the payments being set up. I have made many phone calls to Santander in Jan and Feb because there have been so many issues with my payments. I asked them to send me my phone calls and they told me they have to be subpoenaed I have no right to hear them.I've never had a problem until now I am nearing the end of my loan. I was just old last week This car will be paid off on Nov 2020. and that less of my payment is going to interest and more is going to principal "if" I am not late. I believe they are creating late payments without setting the payments up on purpose. This was a high interest loan and they don't want to make less on it. They are being reckless with my credit and completely lying to me about my payments being set up as well as telling me its NOT their fault the CSR never completed the payment . Its NOT their fault I was put on a DO NOT CALL list and even worse with the last 2 payments that never came out. I was told by 3 CSR's last week everything is fine and set up it just takes 5 days. Now it is 7 days and still no payment came out.During this process in Jan 2019 I only received one call from them and it was about my complaint of the double payment IN FEB I received ZERO CALLS. Even though I am not on a do not call listMarch 1st Santander called me did not leave a Voicemail and I called back after work and they said they were closed and wont be open until Monday. They also have my email and have NOT emailed me either. I have been
Other (requires explanation) Other (requires explanation)1) TAKE THE PAYMENTS I GAVE AUTHORIZATION FOR TO BE PAID OT DATE2) CORRECT MY CREDIT REPORT3) GIE EXPLNATION ON WHY THEY ARE TELLING ME MY PAYMENT IS SET UUP , NOT TAKING MY PAYMENT. THEN TELLING ME I AM LATE4) ENSURE THE FINAL YEAR OF MY LOAN I AM NOT FINANCILALLY ABUSED BY THIIS ABNK DO TO THE FACT IT IS ALMOST PAID OFF AND MY FUTURE PAYMENTS WILL BE PROCESSED WHEN I CALL IN
March 20, 2019
***
*** BOX 2171
Brentwood, TN XXXXX
Re: Revdex.com Case # XXXXXXXX
Santander Account No.: ***0862
Dear Ms.
We have received your complaint submitted through the Revdex.com (Revdex.com). Thank you for this opportunity to address your concerns regarding your Santander Consumer USA Inc. (Santander) account.
Our records indicate that you entered into a Retail Installment Sale Contract (Contract) on August 15, 2015 with Speedway Motors Inc. (Dealership) in connection with the purchase of a 2006 Mercedes CLK (Vehicle). The amount financed was $15,588.00 at an annual percentage rate of 22.32%. The payment schedule called for 72 monthly payments of $437.14 each, with the first payment due on September 29, 2015. The Contract was assigned to Santander.
By signing the Contract, you affirmed that you understood and agreed to all terms and conditions therein. We refer you to the Truth-In-Lending Disclosures on Page 1 of the enclosed Contract. The Total of Payments that you agreed to pay was $26,228.40 if all payments are made as scheduled.
After a thorough review of the account, we have determined that the reduction of the principal balance is accurate. In the agreed upon auto finance Contract, it shows that the account is calculated using the Simple Interest Method. This means the balance accrues interest on a daily basis and assumes the customer will make their payment on the regularly scheduled payment due date. The daily accrued interest is calculated at the contract rate based on the principal balance. The amount of interest accrued can vary, and is based on the amount of the principal balance and the number of days between payments.
In regard to the allocation of payments submitted on your account, please note that when payments are received they are first applied toward interest and past due payments, then toward next scheduled payment and lastly toward fees, if any.
Over the life of the account you requested and were granted a total of 2 monthly payment extensions. Additionally, payments were submitted late to the account, of which 30 were paid more than 10 days late, which caused late fees in the amount of $618.07 to be assessed to the account. In addition, please note that at times payments were received in amounts less that your regular payment amount. Also, five payments were returned by your financial institution for Stop payment and non-sufficient funds.
Our records show that a Temporary Modification Agreement (Agreement) was granted on your account on July 13, 2017. The Agreement lowered your payments for a term of 6 months from $437.14 to $262.28 beginning on July 29, 2017 and expiring on December 29, 2017. A copy of the signed Agreement is enclosed for your review.
Due to the payment assistance and irregular payment pattern, more interest accrued between payments, causing the principal balance to reduce more slowly. If payments had been submitted in a timely manner, according to the contracted payment schedule, the principal balance would have been less. Please note that your account indicates a new maturity date of November 29, 2020.
In regard to your payment arrangement requests, please note that our records indicate your requests were not processed as the calls were not fully completed and the call at times was disconnected. We were unable to proceed with your payment arrangement requests as your authorization was required. In addition please note that we attempted to reach you and were unable to make contact with you after the calls were disconnected. In the future, please wait for confirmation that the arrangement has been processed. We are unable to process the payments that were originally scheduled in January and February 2019 due to the explanation above.
Please note that the following payments were posted to your account from December 2018 to the present date:
Due Date Payment Received Effective Date Payment
Amount Due Date
After Payment Days Past Due
11/29/18 12/28/18 $437.14 01/29/19 61
11/29/18 12/28/18 $250.00 01/29/19 61
N/A 12/28/19 Stop payment Reversal $437.14 12/29/18 N/A
12/29/18 02/23/19 $438.00 01/29/19 56
01/29/19
02/26/19 $406.00 02/28/19 28
N/A 02/23/19 Stop payment Reversal $438.00 01/29/19 N/A
N/A 02/26/19 Stop payment Reversal $406.00 12/29/18 N/A
03/08/19 12/29/18 $844.00 02/28/19 61
A review of the account indicates you advised us that you were obtaining an attorney therefore your account was noted as such. We are unable to corroborate your statement that account indicated Do not Call status.
In regard to your statement that Santander made unauthorized payments, if after reviewing the enclosed payment history, you believe that there were debited in error or any payments that were not credited to the account, we request that you provide us with an unaltered bank statement or the front and back of the cashed payment, which reflects Santander's endorsement, so that we *** further review this matter.
For a prompt response to your request, you *** send the signed requested information by:
Fax: (XXX) XXX-XXXX; or
Mail: Santander Consumer USA Inc.
Attn: Legal Department
1601 Elm Street, Suite 800
Dallas, TX XXXXX
Once the additional information is received, the matter will be reviewed and an updated response will be provided.
As a matter of information, Santander as current policies and procedures that meet the Federal and State requirements necessary to be in compliance with certain debt collection practices, as it is Santander's objective to protect its customers from unfair debt collection acts.
The Fair Credit Reporting Act states that we are required to accurately report all account information to the credit reporting agencies. Please note that we provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion and Innovis. It *** be necessary to contact the agencies directly regarding any disparity between reports.
A review of the information provided to the credit reporting agencies shows that on January 31, 2019, we advised the agencies that the account was Current with a balance of $24,373.00 with a history of 2 times 30 days or more past due and 1 time 60 days or more past due.
We respectfully decline your request to make adjustments to the account balance or make any changes to your credit reports at this time, as we have confirmed that the information reported matches our records.
As of the date of this letter, the balance on the account is $10,573.44 which does not include accrued interest. Late fees of $173.56 remain unpaid on the account and a miscellaneous fee of $30.00 remain unpaid for returned payment fees. Your account indicates due for February 28, 2019.
Enclosed please find copies of the account Contract, Agreement and payment history for your review.
We apologize if you feel that you have been treated in an unprofessional manner, and for any inconvenience caused. Our customers' concerns are important to us and we appreciate your feedback regarding this matter. If further assistance is needed, we *** be contacted directly at X(XXX) XXX-XXXX.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
I fell 3 non consecutive months behind in my payments, so they sent a towing company to repo the car. I get that. However, when I spoke to agents on their reinstallment phone line, I was given 3 different reinstallment prices from 3 different agents and told I could not get the breakdown of charges in writing, not their policy. I still paid the 3 months overdue payments plus over $400 in repo fees and was told my account was then in good standing. Today, when I logged on to make my regular monthly payment, $595 in ADDITIONAL repo fees were assessed, bringing repo fees total to almost $1000!!!! And again, told that they will not provide me with documentation explaining exactly what the fees are for. This, after I was put on hold for 22 minutes by a completely misinformed customer service rep who then put me on hold for an additional 18 minutes to talk to an account manager who couldn't explain any of the fees and said he could only submit my issue for review.
EXPLOITATION at it's finest!!!!!
I fell 3 non consecutive months behind in my payments, so they sent a towing company to repo the car. I get that. However, when I spoke to agents on their reinstallment phone line, I was given 3 different reinstallment prices from 3 different agents and told I could not get the breakdown of charges in writing, not their policy. I still paid the 3 months overdue payments plus over $400 in repo fees and was told my account was then in good standing. Today, when I logged on to make my regular monthly payment, $595 in ADDITIONAL repo fees were assessed, bringing repo fees total to almost $1000!!!! And again, told that they will not provide me with documentation explaining exactly what the fees are for. This, after I was put on hold for 22 minutes by a completely misinformed customer service rep who then put me on hold for an additional 18 minutes to talk to an account manager who couldn't explain any of the fees and said he could only submit my issue for review.
EXPLOITATION at it's finest!!!!!
First, I would give them a NEGATIVE rating of O. They are not a FINANCE Company, they are a FRAUD BILL COLLECTIONS AGENCY. ATTORNEY GENERAL of TEXAS should be SHUT DOWN for ALLOWING COLLECTION AGENCY to operate as a AUTO FINANCE COMPANY. PEOPLE ELECT them to enforce LAWS, not let FRAUDS break them. They should be putting them in PRISON instead of letting them make your STATE go BANKRUPT. They are letting them come into KENTUCKY and bring their MOFFIT practices. They are breaking laws by charging outrageous interest rates(26-30 percent ). CONSUMERS shouldn't have to do ATTORNEY GENERALS job to point this out. ATTORNEY GENERAL state that they know they have over 5,000 complaints with Revdex.com, but they don't pay attention to them. They should, especially when the FRAUD COLLECTION AGENCY isn't even a member of Revdex.com. You want CONSUMERS to file COMPLAINTS, but don't do anything because FRAUDS are PAYING into your state. Your STATE will go BANKRUPT because of GREED. They need to start INVESTIGATION and SHUT them Down or elect a NEW ATTORNEY GENERAL.
First, I would give them a NEGATIVE rating of O. They are not a FINANCE Company, they are a FRAUD BILL COLLECTIONS AGENCY. ATTORNEY GENERAL of TEXAS should be SHUT DOWN for ALLOWING COLLECTION AGENCY to operate as a AUTO FINANCE COMPANY. PEOPLE ELECT them to enforce LAWS, not let FRAUDS break them. They should be putting them in PRISON instead of letting them make your STATE go BANKRUPT. They are letting them come into KENTUCKY and bring their MOFFIT practices. They are breaking laws by charging outrageous interest rates(26-30 percent ). CONSUMERS shouldn't have to do ATTORNEY GENERALS job to point this out. ATTORNEY GENERAL state that they know they have over 5,000 complaints with Revdex.com, but they don't pay attention to them. They should, especially when the FRAUD COLLECTION AGENCY isn't even a member of Revdex.com. You want CONSUMERS to file COMPLAINTS, but don't do anything because FRAUDS are PAYING into your state. Your STATE will go BANKRUPT because of GREED. They need to start INVESTIGATION and SHUT them Down or elect a NEW ATTORNEY GENERAL.
Unfair business practice. Ripping off consumers with poor credit
Hello,
I am writing in regards to account number 6
the vehicle was repossessed September 27, 2018. There were over 4 years of payments made on this vehicle and the balance remained at $17,634.95 none of the payments lowered the amount owed on the vehicle causing the loan to be upside down. I have saved every payment receipt and every statement from the entire loan, what your company is doing is illegal. People are being scammed out of their money making years of payments that are never applied to the loan until the consumer can no longer make the payments then auctioning off the vehicle to be resold again and going after the consumer for the remaining balance. After the vehicle was auctioned the last statement shows a balance of $13,538.25 and a pay off balance of $18,140.71 but your company recently updated my credit report showing a balance owed of $21,687. Your company is reporting false information to the credit bureaus violating many regulations of the FCRA. There are several factors that must be 100% correct in order to report an account or the account has to be removed if the information is inaccurate. Your company needs to remove this information from my report or I will be forced to pursue litigation for false reporting and defamation of character, there are a list of other rights I have that you are violating. I have already gathered all documents to prove this information.
***
***@aol.com
Delete the account from report. Closed the account as settled.
February 14, 2019
***
*** - ***
*** CA XXXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account No.: ***
Dear ***:
We have received your complaint submitted to the Revdex.com (Revdex.com), regarding the above-referenced Santander Consumer USA Inc. (Santander) account. Thank you for allowing us the opportunity to address your concerns.
According to our records, on December 13, 2013 you entered into a Retail Installment Sale Contract (Contract) with CarMax of Fresno (Dealership), in connection with financing the purchase of a 2011 Dodge Charger (Vehicle). The amount financed was $18,171.35 at an annual percentage rate (APR) of 24.99%. The payment schedule called for 72 monthly payments in the amount of $494.47 each, beginning January 24, 2014. Santander was the assignee of the Contract.
Santander sets the interest rate based on many factors including but not limited to the current value of the vehicle, the applicants' credit worthiness, and their credit rating. Santander proposes funding for the applicants which they can either accept or reject at the time of their application.
After a thorough review of the account, we have determined that the reduction of the principal balance is accurate. In the agreed upon auto finance contract, it shows that the account is calculated using the Simple Interest Method. This means the balance accrues interest on a daily basis and assumes the customer will make their payment on their regularly scheduled payment due date. When a payment is received, the accrued interest must be satisfied first, and the remainder of the payment is applied toward principal and/or fees owed on the account. The amount of interest accrued will vary based on the amount of the principal balance and the number of days between payments.
Over the life of the account you requested, and were granted, 8 monthly extensions and a due date change. In addition, some payments were received late, of which 37 were received more than 10 days late, causing late fees to be assessed. We also have record of payments to the account being returned on 10 separate occasions due to non-sufficient funds, incorrect account information, stop payment, or no account.
Due to the payment assistance and payment pattern, more interest and fees accrued between payments, causing the principal balance to reduce more slowly. If timely payments had been submitted, according to the contracted payment schedule, your principal balance would be less.
The Vehicle was first repossessed in October 2017 and again on September 28, 2018 when the account was 225 days past due. A letter titled "Notice of Intention to Dispose of Motor Vehicle" dated September 30, 2018 was mailed to you notifying you that the Vehicle would be sold if the account was not reinstated. We did not receive the required payment amount to reinstate the account and the Vehicle was sold on October 26, 2018, leaving a deficiency balance. Notice of the remaining balance due was also sent to you in a letter dated November 14, 2018 and titled "Explanation of Calculation of Surplus or Deficiency".
Please note that we provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion, and Innovis. It *** be necessary to contact the agencies directly regarding any disparity between reports.
A review of the information provided to the credit reporting agencies shows that on February 6, 2019, an update was submitted to the agencies to advise that the account should reflect as an unpaid charge off with a balance of $17,940.00. Our records indicate the account charged off on June 30, 2018 after becoming over 121 days past due.
The update was submitted under AUD #XXXXXXXX and you *** reference this number with the credit reporting agencies. We apologize for any inconvenience caused by the incorrect information reported.
Please note that the reported balance includes $13,538.25 in principal and $4,401.75 in unpaid late fees, repossession fees and accrued interest.
Although we empathize with your position, we respectfully decline your request to remove the account from agency reporting as we have confirmed the reported information to be accurate. We also decline the request to waive the remaining account balance.
Thank you again for allowing us the opportunity to address your concerns. If further assistance is needed you *** contact us directly at (XXX) XXX-XXXX.
Please find enclosed copies of account documents for your review.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
Contract
Extension Agreement
Notice of Intention to Dispose of Vehicle
Explanation of Calculation of Surplus or Deficiency
Payment History
Unfair business practice. Ripping off consumers with poor credit
Hello,
I am writing in regards to account number 6
the vehicle was repossessed September 27, 2018. There were over 4 years of payments made on this vehicle and the balance remained at $17,634.95 none of the payments lowered the amount owed on the vehicle causing the loan to be upside down. I have saved every payment receipt and every statement from the entire loan, what your company is doing is illegal. People are being scammed out of their money making years of payments that are never applied to the loan until the consumer can no longer make the payments then auctioning off the vehicle to be resold again and going after the consumer for the remaining balance. After the vehicle was auctioned the last statement shows a balance of $13,538.25 and a pay off balance of $18,140.71 but your company recently updated my credit report showing a balance owed of $21,687. Your company is reporting false information to the credit bureaus violating many regulations of the FCRA. There are several factors that must be 100% correct in order to report an account or the account has to be removed if the information is inaccurate. Your company needs to remove this information from my report or I will be forced to pursue litigation for false reporting and defamation of character, there are a list of other rights I have that you are violating. I have already gathered all documents to prove this information.
***
***@aol.com
Delete the account from report. Closed the account as settled.
February 14, 2019
***
*** - ***
*** CA XXXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account No.: ***
Dear ***:
We have received your complaint submitted to the Revdex.com (Revdex.com), regarding the above-referenced Santander Consumer USA Inc. (Santander) account. Thank you for allowing us the opportunity to address your concerns.
According to our records, on December 13, 2013 you entered into a Retail Installment Sale Contract (Contract) with CarMax of Fresno (Dealership), in connection with financing the purchase of a 2011 Dodge Charger (Vehicle). The amount financed was $18,171.35 at an annual percentage rate (APR) of 24.99%. The payment schedule called for 72 monthly payments in the amount of $494.47 each, beginning January 24, 2014. Santander was the assignee of the Contract.
Santander sets the interest rate based on many factors including but not limited to the current value of the vehicle, the applicants' credit worthiness, and their credit rating. Santander proposes funding for the applicants which they can either accept or reject at the time of their application.
After a thorough review of the account, we have determined that the reduction of the principal balance is accurate. In the agreed upon auto finance contract, it shows that the account is calculated using the Simple Interest Method. This means the balance accrues interest on a daily basis and assumes the customer will make their payment on their regularly scheduled payment due date. When a payment is received, the accrued interest must be satisfied first, and the remainder of the payment is applied toward principal and/or fees owed on the account. The amount of interest accrued will vary based on the amount of the principal balance and the number of days between payments.
Over the life of the account you requested, and were granted, 8 monthly extensions and a due date change. In addition, some payments were received late, of which 37 were received more than 10 days late, causing late fees to be assessed. We also have record of payments to the account being returned on 10 separate occasions due to non-sufficient funds, incorrect account information, stop payment, or no account.
Due to the payment assistance and payment pattern, more interest and fees accrued between payments, causing the principal balance to reduce more slowly. If timely payments had been submitted, according to the contracted payment schedule, your principal balance would be less.
The Vehicle was first repossessed in October 2017 and again on September 28, 2018 when the account was 225 days past due. A letter titled "Notice of Intention to Dispose of Motor Vehicle" dated September 30, 2018 was mailed to you notifying you that the Vehicle would be sold if the account was not reinstated. We did not receive the required payment amount to reinstate the account and the Vehicle was sold on October 26, 2018, leaving a deficiency balance. Notice of the remaining balance due was also sent to you in a letter dated November 14, 2018 and titled "Explanation of Calculation of Surplus or Deficiency".
Please note that we provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion, and Innovis. It *** be necessary to contact the agencies directly regarding any disparity between reports.
A review of the information provided to the credit reporting agencies shows that on February 6, 2019, an update was submitted to the agencies to advise that the account should reflect as an unpaid charge off with a balance of $17,940.00. Our records indicate the account charged off on June 30, 2018 after becoming over 121 days past due.
The update was submitted under AUD #XXXXXXXX and you *** reference this number with the credit reporting agencies. We apologize for any inconvenience caused by the incorrect information reported.
Please note that the reported balance includes $13,538.25 in principal and $4,401.75 in unpaid late fees, repossession fees and accrued interest.
Although we empathize with your position, we respectfully decline your request to remove the account from agency reporting as we have confirmed the reported information to be accurate. We also decline the request to waive the remaining account balance.
Thank you again for allowing us the opportunity to address your concerns. If further assistance is needed you *** contact us directly at (XXX) XXX-XXXX.
Please find enclosed copies of account documents for your review.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
Contract
Extension Agreement
Notice of Intention to Dispose of Vehicle
Explanation of Calculation of Surplus or Deficiency
Payment History
NEVER EVER USE THIS COMPANY. I purchased a 2017 Nissan Rogue and it was financed thru this company. I got a few payments behind and set up a repayment schedule with them and was told that would take care of the car from being repo'd. BIG FAT LIE! I made the first initial payment and was about to make the next one and the next thing I know, Freedom Recovery (aka Del Mar) is knocking at my door and telling me they are taking my car. I was furious. This was on a Saturday so I had to wait until Monday to talk to the Reinstatement division. I was on the phone Monday morning at 7:00 and I was 18th in the que. When I got to the customer service rep, I was told that the information hadn't been updated in their system yet so they could not discuss how the reinstatement worked. They told me to call back in 2 to 4 hrs when the system updated. I called back and there were 257 calls in the que ahead of me ( that says a lot!!!) and the waiting time was a little over 2 minutes.... After almost 2 hours on hold I was able to talk to a customer service representative, they asked my a couple of questions, then informed me that based on what the system says they could not reinstate my car to me. I was told a person does not send out the request for repo it is the system that does it based on my payment history. Crock of ***! I asked to speak to a manager and she told me I could not because it was not negotiable, and I said, I would like to speak to a manager about you so she finally got me a manager. They do not believe in giving you the option to pay what you owe and continue with the loan. The only options I was given was to pay off the loan or refinance. The system could not approve me to be reinstated. At most loan companies, they are a little more personal and will listen to you and try to work with you, Not Santander, they are the most uncaring and impersonal company I have ever dealt with. No compassion at all, very cold and hateful.
NEVER EVER USE THIS COMPANY. I purchased a 2017 Nissan Rogue and it was financed thru this company. I got a few payments behind and set up a repayment schedule with them and was told that would take care of the car from being repo'd. BIG FAT LIE! I made the first initial payment and was about to make the next one and the next thing I know, Freedom Recovery (aka Del Mar) is knocking at my door and telling me they are taking my car. I was furious. This was on a Saturday so I had to wait until Monday to talk to the Reinstatement division. I was on the phone Monday morning at 7:00 and I was 18th in the que. When I got to the customer service rep, I was told that the information hadn't been updated in their system yet so they could not discuss how the reinstatement worked. They told me to call back in 2 to 4 hrs when the system updated. I called back and there were 257 calls in the que ahead of me ( that says a lot!!!) and the waiting time was a little over 2 minutes.... After almost 2 hours on hold I was able to talk to a customer service representative, they asked my a couple of questions, then informed me that based on what the system says they could not reinstate my car to me. I was told a person does not send out the request for repo it is the system that does it based on my payment history. Crock of ***! I asked to speak to a manager and she told me I could not because it was not negotiable, and I said, I would like to speak to a manager about you so she finally got me a manager. They do not believe in giving you the option to pay what you owe and continue with the loan. The only options I was given was to pay off the loan or refinance. The system could not approve me to be reinstated. At most loan companies, they are a little more personal and will listen to you and try to work with you, Not Santander, they are the most uncaring and impersonal company I have ever dealt with. No compassion at all, very cold and hateful.
They are charging an illegal amount of interest. 28% APR!!! The legal rate is 20%!!!
Acct # XXXXXXX. The vehicle I purchased is only $15K; by the time I complete my loan I would have paid $30K!!!
Balance due to be corrected.
January 7, 2019
***
*** Lake *** Dr., Apt. ***
*** FL XXXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account No.: ***
Dear Ms.:
We have received your complaint submitted through the Revdex.com (Revdex.com), regarding the above-referenced Santander Consumer USA Inc. (Santander) account. Thank you for allowing us the opportunity to address your concerns.
Our records indicate that on May 7, 2016, you entered into Retail Installment Contract (Contract), with *** Auto Superstores, Inc. *** to purchase a 2010 Ford Fusion (Vehicle). The amount financed was $15,427.26, at an annual percentage rate (APR) of 26.46%. The Contract disclosed a term of 72 monthly payments in the amount of $434.23 each, with the first payment due on June 21, 2016. Santander is the assignee of the Contract.
Santander sets the interest rate based on many factors including but not limited to the current value of the vehicle and the applicants' credit worthiness and credit rating. Santander proposes funding for the applicants which they can either accept or reject at the time of their application. We have confirmed that the APR reflected on your Contract is within the allowable state limits.
The approval of an assignment of any Contract is based on the information provided to us by the customer and the dealership. Please understand that you negotiated the sales price and the financing terms for the Vehicle with the Dealership, not Santander. The financing terms and payment amount were disclosed in the Contract, and you executed the Contract agreeing to those terms.
In regard to the total amount to be paid on the Vehicle, we refer you to the Federal Truth-in-Lending Disclosures on Page 1 of the Contract. Under the section titled "Finance Charge", the dollar amount that the credit will cost you, is $15,837.30, plus the "Amount Financed" of $15,427.26, equals the amount paid under the section titled "Total of Payments", which reflects the amount of $31,264.56. This is the amount you will pay if all payments are made according to the payment schedule set forth in the Contract.
After a thorough review of the account, we have determined that the reduction of the principal balance is accurate. In the agreed upon auto finance Contract, it shows that the account is calculated using the Simple Interest Method. This means the balance accrues interest on a daily basis and assumes the customer will make their payment on the regularly scheduled payment due date. The amount of interest accrued daily can vary based on the amount of the principal balance and the number of days between payments.
Over the life of the account you requested and were granted a total of 2 monthly payment extensions and a due date change. In addition, 2 payments were not paid within 10 days of the due date, which caused late fees to be assessed to the account. Also, 1 payment was returned by your banking institution due to "Invalid Account".
Due to the payment assistance and payment pattern, more interest accrued between payments, causing the principal balance to reduce more slowly. If payments had been submitted according to the contracted payment schedule of 72 months, the principal balance would have been less.
We respectfully decline your request to adjust the remaining balance owed on the account, as the balance owed is accurate.
Please be advised that Santander does not currently offer its customers the opportunity to refinance their existing account. If you are looking to have your interest rate or payments lowered, you may be able to do so by seeking alternative financing with another lending institution of your choice.
We hope that the written explanation we have provided above regarding the account activity is helpful to you in further understanding how simple interest works and how it affects the balance on a daily basis.
Enclosed is a copy of the Contract and Payment History for your review.
Thank you again for bringing this matter to our attention. If further assistance is needed or additional information can be provided regarding this matter, please contact us directly at X(XXX) XXX-XXXX.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
They are charging an illegal amount of interest. 28% APR!!! The legal rate is 20%!!!
Acct # XXXXXXX. The vehicle I purchased is only $15K; by the time I complete my loan I would have paid $30K!!!
Balance due to be corrected.
January 7, 2019
***
*** Lake *** Dr., Apt. ***
*** FL XXXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account No.: ***
Dear Ms.:
We have received your complaint submitted through the Revdex.com (Revdex.com), regarding the above-referenced Santander Consumer USA Inc. (Santander) account. Thank you for allowing us the opportunity to address your concerns.
Our records indicate that on May 7, 2016, you entered into Retail Installment Contract (Contract), with *** Auto Superstores, Inc. *** to purchase a 2010 Ford Fusion (Vehicle). The amount financed was $15,427.26, at an annual percentage rate (APR) of 26.46%. The Contract disclosed a term of 72 monthly payments in the amount of $434.23 each, with the first payment due on June 21, 2016. Santander is the assignee of the Contract.
Santander sets the interest rate based on many factors including but not limited to the current value of the vehicle and the applicants' credit worthiness and credit rating. Santander proposes funding for the applicants which they can either accept or reject at the time of their application. We have confirmed that the APR reflected on your Contract is within the allowable state limits.
The approval of an assignment of any Contract is based on the information provided to us by the customer and the dealership. Please understand that you negotiated the sales price and the financing terms for the Vehicle with the Dealership, not Santander. The financing terms and payment amount were disclosed in the Contract, and you executed the Contract agreeing to those terms.
In regard to the total amount to be paid on the Vehicle, we refer you to the Federal Truth-in-Lending Disclosures on Page 1 of the Contract. Under the section titled "Finance Charge", the dollar amount that the credit will cost you, is $15,837.30, plus the "Amount Financed" of $15,427.26, equals the amount paid under the section titled "Total of Payments", which reflects the amount of $31,264.56. This is the amount you will pay if all payments are made according to the payment schedule set forth in the Contract.
After a thorough review of the account, we have determined that the reduction of the principal balance is accurate. In the agreed upon auto finance Contract, it shows that the account is calculated using the Simple Interest Method. This means the balance accrues interest on a daily basis and assumes the customer will make their payment on the regularly scheduled payment due date. The amount of interest accrued daily can vary based on the amount of the principal balance and the number of days between payments.
Over the life of the account you requested and were granted a total of 2 monthly payment extensions and a due date change. In addition, 2 payments were not paid within 10 days of the due date, which caused late fees to be assessed to the account. Also, 1 payment was returned by your banking institution due to "Invalid Account".
Due to the payment assistance and payment pattern, more interest accrued between payments, causing the principal balance to reduce more slowly. If payments had been submitted according to the contracted payment schedule of 72 months, the principal balance would have been less.
We respectfully decline your request to adjust the remaining balance owed on the account, as the balance owed is accurate.
Please be advised that Santander does not currently offer its customers the opportunity to refinance their existing account. If you are looking to have your interest rate or payments lowered, you may be able to do so by seeking alternative financing with another lending institution of your choice.
We hope that the written explanation we have provided above regarding the account activity is helpful to you in further understanding how simple interest works and how it affects the balance on a daily basis.
Enclosed is a copy of the Contract and Payment History for your review.
Thank you again for bringing this matter to our attention. If further assistance is needed or additional information can be provided regarding this matter, please contact us directly at X(XXX) XXX-XXXX.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
Told they take care of customers. No. Yes we got behind as times are rough for everyone but the notice they send we always take care of at least then. Well we didn't receive it and car was up for repo and we had no knowledge. But ok. They hire Del Mar to have repo company get it. First tow company didn't register in Nevada to repo cars and they almost broke my leg while breaking the law of breaching the peace when they backed into my garage to tow it. We file a complaint with Santander but investigate it one day and deny it. I was put in danger with negligence from the driver not caring to hit me or not and disturbing my home. My neighbors saw this happen and Santander pushed that aside. Tow trucks have cameras for repos,somehow this one time they don't. But Santander doesn't care. They don't care about customers like they say or care who is hired to represent their company or what methods are used to get it. So anyone who reads this NEVER USE THEM AT ALL.
Told they take care of customers. No. Yes we got behind as times are rough for everyone but the notice they send we always take care of at least then. Well we didn't receive it and car was up for repo and we had no knowledge. But ok. They hire Del Mar to have repo company get it. First tow company didn't register in Nevada to repo cars and they almost broke my leg while breaking the law of breaching the peace when they backed into my garage to tow it. We file a complaint with Santander but investigate it one day and deny it. I was put in danger with negligence from the driver not caring to hit me or not and disturbing my home. My neighbors saw this happen and Santander pushed that aside. Tow trucks have cameras for repos,somehow this one time they don't. But Santander doesn't care. They don't care about customers like they say or care who is hired to represent their company or what methods are used to get it. So anyone who reads this NEVER USE THEM AT ALL.
I purchase a vehicle on 9/23/2017 and was laid off 10/5/2017. I tried to get them to take the vehicle back. They wouldn't take the vehicle back. I have been looking for a new job so that I can afford my car payment. So now my credit report shows late even though the put the 2 payments on the rear of my loan. Still trying to make car payments that I can not afford and still behind.
I purchase a vehicle on 9/23/2017 and was laid off 10/5/2017. I tried to get them to take the vehicle back. They wouldn't take the vehicle back. I have been looking for a new job so that I can afford my car payment. So now my credit report shows late even though the put the 2 payments on the rear of my loan. Still trying to make car payments that I can not afford and still behind.
If I could leave 0 stars for this company, I would. I've had a high interest auto loan with them for over a year. I have never missed a payment, always on time. Hurricane michael totaled my vehicle and because I still owe 4k after insurance pays out they wont allow me to apply for a new vehicle until its paid off. Why can a measly 4k not be rolled into a new loan? Their website says "if you've been impacted by hurricane michael, we are here too help" where is my help Santander?
If I could leave 0 stars for this company, I would. I've had a high interest auto loan with them for over a year. I have never missed a payment, always on time. Hurricane michael totaled my vehicle and because I still owe 4k after insurance pays out they wont allow me to apply for a new vehicle until its paid off. Why can a measly 4k not be rolled into a new loan? Their website says "if you've been impacted by hurricane michael, we are here too help" where is my help Santander?