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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What a horrible company, lost my job during covid. Their idea of assistance is just to tack the payments on at the end. All while accruing interest DAILY. I called you for assistance and all they said was you can pay more. Really? Because I'm calling you because I can't pay. Brain dead corporation. With useless money grubbing people in charge. Where did the loans you get from the government for covid go??????????? Bonus for execs? I'll be refinancing as soon as I can.
What a horrible company, lost my job during covid. Their idea of assistance is just to tack the payments on at the end. All while accruing interest DAILY. I called you for assistance and all they said was you can pay more. Really? Because I'm calling you because I can't pay. Brain dead corporation. With useless money grubbing people in charge. Where did the loans you get from the government for covid go??????????? Bonus for execs? I'll be refinancing as soon as I can.
: You are not the only one, unfortunately my car was totally lost and my insurance company sent them a check and they said that they had not received it, I spent three weeks calling them. They forced me to make the monthly payment for the month of February because they said that they had not received the check and when I entered the account within two days the insurance payment and mine had been posted the same day and according to them they had not received the check ? Then the Gap sent them a check from April 4 and to date they say they have not received it. I have been calling for almost two months and it is always a different excuse and there is no solution. They say I have two late payments and that I must pay them, but since that happened to me with my insurance company's check, I told the Manager in charge of my complaint that I was not going to pay them anything until that check was posted to my account. I sent them the copy of the Gap check endorsed by them who cashed it since April 16 and I still have no answer. I am honestly disappointed in them. It is the first time that I have asked for a loan to buy a car and I will never do it again. The experience I have had has been the worst.
ATTENTION
If you had a total loss at this time of COVID 19, it is very sad, because they do not offer any help when the car has been declared a total loss regardless of the situation we are all going through, nor the request that our President Trump He made all the banks to provide solutions to their clients.
It's a SCAM, don't come here. It is preferable to go to a Buy here Pay Here or take a bus.
: You are not the only one, unfortunately my car was totally lost and my insurance company sent them a check and they said that they had not received it, I spent three weeks calling them. They forced me to make the monthly payment for the month of February because they said that they had not received the check and when I entered the account within two days the insurance payment and mine had been posted the same day and according to them they had not received the check ? Then the Gap sent them a check from April 4 and to date they say they have not received it. I have been calling for almost two months and it is always a different excuse and there is no solution. They say I have two late payments and that I must pay them, but since that happened to me with my insurance company's check, I told the Manager in charge of my complaint that I was not going to pay them anything until that check was posted to my account. I sent them the copy of the Gap check endorsed by them who cashed it since April 16 and I still have no answer. I am honestly disappointed in them. It is the first time that I have asked for a loan to buy a car and I will never do it again. The experience I have had has been the worst.
ATTENTION
If you had a total loss at this time of COVID 19, it is very sad, because they do not offer any help when the car has been declared a total loss regardless of the situation we are all going through, nor the request that our President Trump He made all the banks to provide solutions to their clients.
It's a SCAM, don't come here. It is preferable to go to a Buy here Pay Here or take a bus.
Violation of Consumer protection laws
Santander Consumer participated in shady lending practices that violated the consumer protection laws by targeting buyers who were more likely to default and giving them subprime auto loans. In addition to pushing the risky loans on applicants likely to default, Santander also allegedly turned a blind eye to dealerships that let consumers fudge the numbers on loan applications about their income and expenses, including mortgages and rents costs.
Santander provided me an auto loan with a 26% APR and a $290 monthly car payment as a new buyer with little to no credit history. The loan defaulted shortly after as the payments became too much for me financially and a majority of my monthly payments went towards interest instead of the principal. I was no where near qualified for an auto loan at this time, as no other banks would lend to me with my income and credit history. I was targeted my Santander and their defaulted loan still affects me obtaining credit today.
Remove this defaulted loan from all 3 credit bureau reports.
June 3, 2020
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*** XXXXX
Re: Revdex.com Complaint No.: XXXXXXXX
Santander Consumer USA Inc. Account No.: ***
Dear Ms.:
We have received your request submitted through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
After investigating the information provided in your complaint, we are unable to substantiate your statement that you were treated unfairly and found no evidence that Santander Consumer USA Inc. violated fair lending laws in the origination or servicing of your account. Santander Consumer USA Inc. is committed to fair lending and treating consumers, customers and vendors with the utmost respect and fairness
Our records indicate the following terms of your "Motor Vehicle Retail Installment Contract" (Contract):
Date: July 22, 2015
Vehicle: 2011 Nissan Sentra
Amount Financed: $9,299.48
APR: 21.49%
Term: 48 months
Monthly Payment $290.44 (First Payment Due: August 22, 2015)
Dealership CGM Auto Group
Please be advised that Santander Consumer USA Inc. is the indirect lender and assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase.
The following exceptions were made to the 48 month contracted payment schedule:
Late Payments: 11 (Assessed 15 days after due date)
In some months, partial payments and/or no payments were received.
Returned Payments: 1 (Non-Transaction)
Due date change: 1
Extensions: 2 (March and April 2016)
Modification: 6-month term (Lowered payments from $290.44 to $174.26 from
July 25, 2017 to February 25, 2017)
Please be advised that interest does not stop accruing when there has been payment assistance granted on the account or when payments are late and/or not received. There is no grace period for the accrual of interest.
After a 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.
When a payment is received, the outstanding accrued interest must be satisfied first. The remainder of payment is applied toward fees owed on the account, then principal. The amount of accrued daily interest can vary based on the amount of the principal balance and the number of days between payments.
A review of the information provided to the credit reporting agencies shows that on April 30, 2020 we reported the account as charged off with a balance of $5,879.00. The account charged off on August 31, 2017 when the account became over 120 days past due.
Once an account has been reported as charged off, it will continue to report as charged off even if the customer continues making payments or if the balance is settled, as Charge Off is a final status. The account will continue to report until the statute of limitations addressed by the FCRA is met. If payments are made, the deficiency balance decrease will be reported accordingly.
In regard to the recent legal settlement that Santander Consumer USA Inc. has made with the attorneys general of several states, an independent administrator is managing all questions and claims relative to the settlement. For information regarding eligibility or other issues regarding the settlement, please contact your state's attorney general or visit http://santandermultistateagsettlement.com. Thank you for bringing this matter to our attention.
Based on a review of the account, no update will be made to the information being reported.
We hope that the written explanation we have provided above regarding account activity is helpful to you in further understanding how simple interest compounds and how it affects the balance on a daily basis.
Enclosed is a copy of the Contract and payment history for your reference.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at X(XXX) XXX-XXXX. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
I paid off my loan early and Santander said I missed a payment of which I have bank proof it was paid. They also reported me missing that payment .
First National Bank of Alaska has two payments totalling $935.36 with reference numbers for December 13th 2019. I tried calling Santander and they first said it was paid in January then said oh it was paid in December. He could not help me. I over paid them on the pay off too. So that makes over $1800.00 Santander owes me!
Payment in full from overpayment of contract and also refund of payment made in December 13th 2019.
June 3, 2020
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XXXXX *** Highway
*** XXXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account No.: ***
Dear Mr.:
We have received your request through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your "Retail Installment Sale Contract" (Contract):
Date: March 25, 2019
Vehicle: 2020 KIA Tellurido
Amount Financed: $42,933.54
APR: 14.32%
Term: 72 months
Monthly Payment $897.37 (first payment due *** 9, 2019)
In regard to the total amount paid on the vehicle, please see the Truth in Lending disclosures on Page 1 of the Contract and in the subsequent disclosure letter. This shows the amount you would have paid if all payments had been made according to the monthly payment schedule in the Contract.
Finance Charge: $21,677.10 (Dollar amount credit will cost you)
Amount Financed: $42,933.54
Total of Payments: $64,610.64
In regard to your statement that two payments totaling amounts of $935.36 each were made to the account, our records indicate that two payments were received in an amount of $900.25 effective December 11, 2019 and in an amount of $10.11 effective December 12, 2019. The payments advanced the account to a due date of January 23, 2020. Two other payments in the amounts of $1,000.00 and $900.00 were received on February 12, 2020 and March 12, 2020 respectively.
A review of the account indicated that a Payoff quote amount of $39,014.43 was provided to you on March 24, 2020 which was good until April 7, 2020.
Further review of the account indicates that the amount of $39,105.03 was received on April 2, 2020 in which an amount of $38,923.84 which posted to the account with an effective date of April 2, 2020. An overage of $181.19 was then indicated and was released on April 27, 2020 to the address indicated above.
We respectfully decline to issue any additional refunds on the account.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at X(XXX)-XXX-XXXX. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures:
Contract
Payment History
I got the car in 2015 my payment is $533 they didnt disclaims that they dont refinance. My you I still have 3 more years to pay this car off its a
I got the car in 2015 my payment is $533 they didnt disclaims that they dont refinance. My you I still have 3 more years to pay this car off its a 2015
To lower my payment are refinance it are something i only get $850 a month im disabled by the time i finish paying this car off i will pay $46.000 for a Nissan Altima
June 3, 2020
***
*** Dr.
*** XXXXX
Re: Revdex.com Case Number: XXXXXXXX
Santander Account Number: ***
Dear Ms.:
We have received your request submitted through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your "Retail Installment Sale Contract" (Contract):
Date: May 19, 2015
Vehicle: 2015 Nissan Altima
Amount Financed: $23,957.36
APR: 16.78%
Term: 72 months
Monthly Payment $533.68 (first payment due July 3, 2015)
Dealership Mike Erdman Motors Inc.
Please be advised that Santander Consumer USA Inc. is the indirect lender and assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase.
The following exceptions were made to the 72 month contracted payment schedule:
Late Payments: 28 (assessed 10 days after due date)
In some months, partial payments and/or no payments were received.
Returned Payments: 12 (non-sufficient funds or other)
Due date change: 1
Extensions: 10
Modification: 6-month term (Lowered payments from $533.68 to $320.21 from
(July 3, 2016 to December 6, 2016)
Please note, if you are looking to have your interest rate or payments lowered, you *** be able to do so by seeking alternative financing with another lending institution of your choice. Santander Consumer USA Inc. does not currently offer its customers the opportunity to refinance.
While we empathize with your situation, we are unable to lower the payments on your account.
Enclosed is a copy of the Contract and payment history for your reference.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at 1(888) 222-4227. Our hours of operations are: Monday- Friday 7am-9pm CST, Saturday 7am-5pm CST, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures: Contract, Payment History
My car was repossessed back in December I was able to reinstate the loan and paid off what I owed the lender. My payments have been current as of now.
Since my loan has been reinstated I have not received any pay per work regarding the reinstatement and it's still reporting on my credit as a repo and the payments have not been updated in the last five months on my credit report when I'm current on all of my payments and it's not reflecting that I am currently paying off the loan. I spoke to a representative and they told me that it's being reported and will reflect soon but this is not true. I want favorable terms and for this to be reported that I am making payments.
I want the loan to be reported as a reinstatement on my credit and to show that I am making payments and that I am current on my loan. I was not aware at the time of the loan that this was a predatory loan with high interest and several consumers are in the same position as me I would also like a lower interest rate.
June 04, 2020
***
*** Street Apt.
*** XXXXX-XXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account Number: ***
Dear Ms.:
We have received your request through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your "Retail Installment Sale Contact Simple Finance Charge" (Contract):
Date: July 29, 2019
Vehicle: 2015 Nissan Sentra
Amount Financed: $15,191.90
APR: 15.64%
Term: 72 months
Monthly Payment $328.66(first payment due September 12, 2019)
Dealership CarMax Auto Superstores California, LLC
Please be advised that Santander Consumer USA Inc. is the indirect lender and assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase.
Santander Consumer USA Inc. establishes the contract rate based on factors including the down payment, vehicle value, the applicant's credit worthiness and credit rating. We provide contract terms for the applicant which they can either accept or reject at the time of the application approval. We have confirmed that the APR on the Contract is within the allowable state limits.
The following exceptions were made to the 72 month contracted payment schedule:
Late Payments: 3 (assessed 10 days after due date)
In some months, partial payments and/or no payments were received.
Due date change: 1
Please be advised that interest does not stop accruing when there has been payment assistance granted on the account or when payments are late and/or not received. There is no grace period for the accrual of interest.
After a 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.
When a payment is received, the outstanding accrued interest must be satisfied first. The remainder of payment is applied toward fees owed on the account, then principal. The amount of accrued daily interest can vary based on the amount of the principal balance and the number of days between payments.
On December 28, 2019, the vehicle was repossessed at 77 days past due, due to non-payment. On December 30, 2019 a payment was received in the total amount of $1,212.52 to reinstate the account so that you could redeem the vehicle.
We mailed you a legal notice dated December 29, 2019 regarding the opportunity to redeem the vehicle, however, you may not have received it prior to making the reinstatement payment. A copy of the legal notice is enclosed. During the reinstatement process our Customer Service Department provides a reinstatement quote as well as a verbal reinstatement and personal property recording to assure our customers understand the process of redeeming their vehicle and their personal property.
Regarding your concerns of the payments not been updated in the last five months, in an effort to resolve your concerns our Accounting Department conducted a review of the payments made on the account, as of January 23, 2020 forward, the account was determined to be correct, as the payments received were applied correctly to the account.
On May 08, 2020, you contacted our Customer Service Department, in regard to the credit reporting on your account, it was explained due to the repossession we stopped reporting the monthly payments made on the account, in addition to explaining we only reported the lowering of the account balance.
Unfortunately, we are unable to substantiate your statement that, you were advised by a Customer Service Representative the reinstatement payment would report and reflect on your credit report. Please note that reinstating an account does not stop a repossession from being reported in the future.
The Fair Credit Reporting Act requires that we accurately report account information to the credit reporting agencies. We provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion, and Innovis, however, reporting may differ between agencies. The customer may need to contact the agencies directly regarding any differences between reports.
Based on the information provided, on May 28, 2020, we submitted an update to the credit reporting agencies to report the account as current with a balance of $14,107.00. Prior history reported the account as 1 time(s) 30 days late.
Please allow up to 30 days for the update to be reflected on your credit report(s).
Additionally, if you're seeking a lower interest rate or monthly payment, you may be able to do so by seeking alternative financing with another lending institution of his choice. Santander does not refinance existing accounts.
We hope that the written explanation we have provided above regarding account activity is helpful to you.
Enclosed is a copy of the Contract, legal notice and Payment History.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at 1(888) 222-4227. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
I have been scammed out of my money. I have been making on time payments for almost a year!!
I have been making on time car payments with Santander for about a year now. I have never missed a payment & I have even paid early to be exact. For some reason my loan is only paid down $800. I have paid out well over $3,000. Every time I call no one can resolve my issue. I am being scammed out of my money & I will be taking legal action as soon as possible.
I would like my balance adjusted accordingly.
June 3, 2020
***
***
***, *** XXXXX
Re: Revdex.com Case Number: XXXXXXXX
Santander Account Number: ***
Dear Mr.:
We have received your request submitted through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your "Retail Installment Sale Contract" (Contract):
Date: May 22, 2019
Vehicle: 2015 BMW I3
Amount Financed: $17,943.24
APR: 17.16%
Term: 72 months
Monthly Payment $403.60 (first payment due July 6, 2019)
Dealership Beaver Motors GA, LLC
Please be advised that Santander Consumer USA Inc. is the indirect lender and assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase.
The following exceptions were made to the 72 month contracted payment schedule:
Due date change: 1
Extensions: 2
Please be advised that interest does not stop accruing when there has been payment assistance granted on the account or when payments are late and/or not received. There is no grace period for the accrual of interest.
After a 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.
When a payment is received, the outstanding accrued interest must be satisfied first. The remainder of payment is applied toward fees owed on the account, then principal. The amount of accrued daily interest can vary based on the amount of the principal balance and the number of days between payments.
We hope that the written explanation we have provided above regarding account activity is helpful to you in further understanding how simple interest compounds and how it affects the balance on a daily basis.
We respectfully decline your request to adjust your balance as payments have been allocated to principal and interest correctly.
Enclosed is a copy of the Contract and payment history for your reference.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at 1(888) 222-4227. Our hours of operations are: Monday- Friday 7am-9pm CST, Saturday 7am-5pm CST, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures: Contract, Payment History
An auto loan was issued to me under false pretenses to the point where I could not afford to make payments which I had to surrender it.
I have reason to believe that Santander bank in combine with their affiliates the car dealership, Lynnes Nissan: Nissan Dealership Bloomfield company misled me and mishandled my car note account which led my to having to surrender my car. they approve a loan for me when I had very low credit score, They charged me a very high interest rate to the point that I could not keep up with the monthly payment on a used car. They mislead me be telling me if I made 6 moths straight payments I could refinance. Once I completed the 6 months Santander told me that the car dealer agency was not correct in the statement they made about the 6 moths payment and they do not refinance. they told me even if I would better my credit score they do not refinance which made me feel stuck with this car deal which was over double of the cost of the car purchase. the car was a 1990 BMW in which the purchase price was $6,000.00 but with the interest rate and 5 year payment plan it was totaled at $15,000.00 I am so upset at this time. If you need additional information please feel free to call or email me anytime. I am requesting a refund and for this information to be removed from my credit report, this had put my credit in a bad position at this time. My credit was getting better until they reported this issue the them.
I am requesting a refund and for this information to be removed from my credit report, this had put my credit in a bad position at this time. My credit was getting better until they reported this issue the them.
June 3, 2020
***
*** XXXXX
Re: Revdex.com Complaint No.: XXXXXXXX
Santander Consumer USA Inc. Account No.: ***
Dear Mr.:
We have received your request through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your "Retail Installment Sale Contract" (Contract):
Date: January 24, 2015
Vehicle: 2006 BMW X5
Amount Financed: $15,776.00
APR: 17.55%
Term: 72 months
Monthly Payment $358.73 (First Payment Due: March 10, 2015)
Dealership Jersey Nissan LLC
In regard to the total amount paid on the Vehicle, please see the Truth in Lending disclosures on Page 1 of the Contract and in the subsequent disclosure letter. This shows the amount you would have paid if all payments had been made according to the monthly payment schedule in the Contract.
Finance Charge: $10,051.96 (Dollar amount credit will cost you)
Amount Financed: $15,776.60
Total of Payments: $25,828.56
Please be advised that Santander Consumer USA Inc. is the indirect lender and the assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase. We cannot corroborate any statement(s) made by the Dealership regarding North Plainfield Nissan, as Santander Consumer USA Inc. was not present at the time the Contract was negotiated, or when it was executed.
Santander Consumer USA Inc. establishes the contract rate based on factors including the down payment, vehicle value, the applicant's credit worthiness and credit rating. We provide contract terms for the applicant which they can either accept or reject at the time of the application approval. We have confirmed that the APR on the Contract is within the allowable state limits.
Additionally, we are unable to corroborate your claim that the Dealership stated that you could refinance or obtain lower monthly payments after 6 months of payments. We do not offer our customers the option to refinance their accounts, however, customers always have the option of seeking additional funding with other financial institutions of their choice at any time during the life of the account.
The following exceptions were made to the 72 month contracted payment schedule:
Late Payments: 10 (assessed 10 days after due date)
In some months, partial payments and/or no payments were received.
Due date change: 1
Extensions: 4 (December 2017, January 2018, June and July 2019)
Modification: 6-month term (Lowered payments from $358.73 to $215.24 from
October 27, 2018 to March 27, 2019)
Please be advised that interest does not stop accruing when there has been payment assistance granted on the account or when payments are late and/or not received. There is no grace period for the accrual of interest.
After a 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.
When a payment is received, the outstanding accrued interest must be satisfied first. The remainder of payment is applied toward fees owed on the account, then principal. The amount of accrued daily interest can vary based on the amount of the principal balance and the number of days between payments.
On November 27, 2019, you called and spoke to a Santander representative requesting a voluntary surrender of the Vehicle and a recording was made of your request. On that call you confirmed that you understood that surrendering your Vehicle could result in a deficiency balance after the sales proceeds posted to your account.
As requested, we took possession of the Vehicle, it was not redeemed and was sold at auction, with the proceeds from the sale being applied to the account. Legal required notice was sent after we took possession of the Vehicle. The deficiency letter was sent after the sale of the Vehicle.
A review of the information provided to the credit reporting agencies shows that on April 30, 2020, we reported the account as charged off with a balance of $8,373.00. The account charged off on January 31, 2020 after the Vehicle was sold.
Once an account has been reported as charged off, it will continue to report as charged off even if the customer continues making payments or if the balance is settled, as charge off is a final status. The account will continue to report until the statute of limitations addressed by the FCRA is met. If payments are made, the deficiency balance decrease will be reported accordingly
Based on a review of the account, no update will be made to the information being reported. We respectfully decline your request for a refund.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at 1(888)-222-4227. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Contract
Notice of Contract Assignment
Notice to Co-Signer
Extension Agreements
Temporary Modification Agreement
Notice of Our Plan to Sell Property
Explanation of Calculation of Surplus or Deficiency
Payment History
Not being able to afford the vehicle
I letting others know to stay away from Santander Usa I got my vehicle 02/13/15 it had 38k miles in was 23k for the car they wanted me to pay over 500 a month it was to high I said no so I was offered 487 it was take it or leave it. So I took it I came back the next day with car insurance in was told I had a 13k added on which made it 36,000 I paid 487 a month all I could they didn't care to make sure u had a job they just wanted to push the vehicle on you.I paid 487 a month all I could once my job hours cut back I was left stressed in didn't know how to make payments I called Santander in told them I was told the balance would be put on the back end of the loan in it wouldn't be repo. well I got up one morning my car was gone I called around until I found out who had it.I had to come up with 900 to get my car back when my aunt loaned me the money I got there I had small damage to my car from it being towed I was upset but happy to get it back I worked hard to pay them in my aunt. I still fell short of paying them it was going to get took again.I talked to a buddy in was told about bankruptcy I didn't want to because I know I wouldn't be able to get anything once I made that decision. Santander called me every single day about there money wanting me to pay 5,000 or else after I told them I couldn't afford that so I went ahead in filled bankruptcy. Which I still have to pay wishing everyday I didn't get that vehicle through Santander I'm still fighting to get my life back on track so that I can purchase more things in life.
I really would love to just be done in over with in receive my vehicle title in it be wiped clean maybe it's just wishful thinking but I wouldn't mind so that I can get my life back while on top of going through a pandemic.
June 03, 2020
***
***
*** XXXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account Number: ***
Dear Mr.:
We have received your request through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your "Motor Vehicle Retail Installment Sales Contact Simple Finance Charge" (Contract):
Date: February 13, 2015
Vehicle: 2014 Nissan Altima
Amount Financed: $21,228.00
APR: 18.00%
Term: 72 months
Monthly Payment $487.74 (first payment due March 30, 2015)
Dealership Gwatney Chevrolet
Please be advised that Santander Consumer USA Inc. is the indirect lender and assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase.
The following exceptions were made to the 72 month contracted payment schedule:
Late Payments: 5 (assessed 15 days after due date)
In some months, partial payments and/or no payments were received.
Returned Payments: 2 (non-sufficient funds or other)
Due date change: 1
Extensions: 2 (September 2015 and October 2015)
After a 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.
When a payment is received, the outstanding accrued interest must be satisfied first. The remainder of payment is applied toward fees owed on the account, then principal. The amount of accrued daily interest can vary based on the amount of the principal balance and the number of days between payments.
Upon review, on October 2, 2015, the account was listed as 85 days past due, the vehicle was secured due non-payment. In an effort to assist with reinstating the vehicle we provided a 2 month extension to reduce the delinquency. A payment in the amount of $907.00 was received on October 21, 2015. The vehicle was redeemed on October 23, 2015.
The account charge off on March 31, 2016, due to the account exceeding over a 120 days without a payment.
Our records show you filed for Chapter 13 Bankruptcy protection on September 28, 2018, which was later discharged on May 30, 2019. By virtue of the Chapter 13 Bankruptcy filing, all property acquired pre and post-petition is subject to bankruptcy protection, therefore, for both parties on the account, no account information will be reported to the credit reporting agencies, no billing statements will be issued or no collection calls will be made, as these actions could be deemed a violation of the bankruptcy protections. This policy is in effect regardless of whether or not a case is dismissed or discharged.
It the customer's responsibility to continue to make their monthly payments on the account after a bankruptcy filing.
Unfortunately, we decline your request to clear the remaining account balance. Please note the title to the vehicle, will not be released until the remaining balance is paid in full.
Additionally, if you're seeking a lower interest rate or monthly payment, you may be able to do so by seeking alternative financing with another lending institution of his choice. Santander does not refinance existing accounts.
We hope that the written explanation we have provided above regarding account activity is helpful to you.
Enclosed is a copy of the Contract and Payment History.
Please be advised this letter is not an attempt to collect a debt and is being provided for informational purposes only and in response to your complaint.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
By far the worst company ever to get an auto loan from
The interest rate and car note is ridiculous I had my car for over 5 years and it seems as if I didn't pay nothing towards itð??¡ð??¡ð??¡
Santander has repeatedly not provided release of lien or the title of my vehicle to the new primary lien holder of the car.
Through a car dealership, my partner and I acquired a car loan with Santander for $14660.50. After getting the loan and getting the car registered, I spoke with my current bank (Dupaco) and we decided to transfer the lien to Dupaco. Dupaco then purchased the lien from Santander and after that, they should have sent the title and transferred the lien over to Dupaco.
After not receiving anything for weeks. My representative at Dupaco reached out to me to get in contact with Santander. I contacted Santander and they stated that they would send the title to the main Dupaco branch in Dubuque.
I waited a month and a half and still there was nothing. I got in contact with them again and was again told it would be sent within a few days. Nothing came of that either. Another month passed and I contact them and tell them to just send it to me instead, at my home address and to send Dupaco a release of lien. Again, I am told a few days. Nothing came of that either.
Now it has been 4 1/2 months of constantly trying to get my title and lien in the hands of my bank. False promises and shady dealings are all this company gives and at this point what they are doing is theft to both me and my bank.
Aside from all that, their communications are intentionally difficult to navigate, sending you in circles for nearly 45 minutes before you finally reach someone. Getting through their automated system is like navigating an elaborate maze where one wrong options sends you back to the beginning. Even after selecting the same options that got me through to an agent the first time, the next time those exact prompts send you to the menu. It is definitely intentional.
Without a resolution this will likely end with a lawsuit, either from me or my bank. All I want is my the title and lien that my bank purchased and I am paying for.
I need Santander to send my title to Dupaco and send them a release of lien.
June 4, 2020
***
***
*** XXXXX
Re: Revdex.com Complaint No.: XXXXXXXX
Santander Consumer USA Inc. Account No.: ***
Dear Mr.:
We have received your request through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Unfortunately, current events may be affecting our customers and we regret any inconvenience you may be experiencing during these times. Please be advised that we have experienced a high call volume and unforeseen delays.
We regret to learn about your concerns regarding your attempts to resolve the title and the services provided. Our customers concerns are of the utmost importance to us and we appreciate your feedback regarding this matter.
Our records indicate the following terms of your "Retail Installment Contract" (Contract):
Date: December 24, 2019
Vehicle: 2016 Chevrolet Trax
Amount Financed: $10,514.55
APR: 16.21%
Term: 60 months
Monthly Payment $258.58 (First Payment Due: February 7, 2020)
Dealership Ray Chevrolet Inc.
The enclosed payment history reflects that the account was paid in full with a zero balance effective January 26, 2020.
Please note that when the account was paid in full, we had not received the title for the above referenced Vehicle from the state of Iowa. As a result, a lien satisfaction letter was mailed on February 3, 2020. Unfortunately, this was not a title or release of lien as you may have previously been advised. We apologize for any misinformation and inconvenience regarding this issue.
In an effort to resolve this matter, Santander's Executive Office has escalated your concerns to the Titles department. Please note that we have received the title and in response to the escalation, a paper title was mailed to Dupaco Community Credit Union at P.O. Box 179 Dubuque, IA 52004 on May 28, 2020.
Regarding issues navigating through the Interactive Voice Response (IVR) system, we have provided a direct contact number to the Titles department if further assistance is needed.
Enclosed is a copy of the Contract, payment history and paid in full letter for your reference.
Thank you again for the opportunity to address your concerns. If further assistance is needed, you may contact our Titles Department directly at X(XXX) XXX-XXXX. Hours of operations are: Monday- Saturday 7am-5pm CDT.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
(The consumer indicated he/she DID NOT accept the response from the business.)
I am glad this is being put at a high priority.
My problem with this response is that it fails to address that this wasn't just a one time slip up where you can say "Oh my bad" It happened four times. There is something wrong with communication with the accounts that absolutely needs to be addressed. If your agents can't see statuses of accounts and provide up to date and relevant information that is a major problem.
And as far as the phone directory, that response was irrelevant. My concern was about how the directory is either intentionally confusing to keep communications between the customer and company minimal, or it is severely flawed.
If I call the customer service number, regardless of call volume, it should not send me in circles.
It's not a problem of me not being able to reach someone, if you select an option it sends you around almost at random.
It goes Menu>customer service>enter info>customer service>Menu>customer service>enter info>customer service>Menu... over and over again until you either get too frustrated or the call finally decides you completed the puzzle correctly.
I should never have to enter my info 3-4 times before I get someone. I don't need a direct line, this is bigger than just me, customers should not have to deal with a flawed system if they are dealing with trying to manage large sums of money.
June 19, 2020
***
***
*** XXXXX
Re: Revdex.com Complaint No.: XXXXXXXX
Santander Consumer USA Inc. Account No.: ***
Dear Mr.:
We have received your additional request through the Revdex.com (Revdex.com). Thank you for allowing us the continued opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
We regret that you remained dissatisfied with our previous response. Our customer's concerns and experiences are of the utmost importance to us and we appreciate your feedback regarding this matter.
Unfortunately due to an internal processing error, our Santander Consumer USA Inc. representatives were misinformed of the title status. We apologize for any misinformation and inconvenience regarding this issue.
As stated previously, Santander Consumer USA Inc.'s Executive Office escalated your concerns to the Titles department to have this issue corrected. In response to the escalation, a paper title was mailed to Dupaco Community Credit Union at P.O. Box 179 Dubuque, IA 52004 on May 28, 2020.
We apologize for any issues that you encountered in attempting to navigate through the Interactive Voice Response (IVR) system. Please be advised that when an account is paid in full, the IVR system no longer recognizes the account as it is no longer active or open. We have provided a direct contact number to the Titles department, who will also able to transfer you to the Customer Service department if further assistance is needed.
Thank you again for the opportunity to address your concerns. If further assistance is needed, you may contact our Titles Department directly at X(XXX) XXX-XXXX. Hours of operations are: Monday- Saturday 7am-5pm CDT.
Sincerely,
SANTANDER CONSUMER USA INC.
passed *** 1/25/20, and this company just keep giving a runaround on either repo ing the car or offering the family a settlement.
The family thought *** only owed about $1000 on this car. But when we finally received info from Santander they are saying he owes $3400. His payments were $208 month. His purchase date was 5/26/16 for $7500 with gap ins, taxes,other fees the total was $9998.10 - $200 cash deposit. Total $9798.10 purchased at Eynon Pontiac Buick Inc, Eynon Pa XXXXX. Sales rep John Keenan. Deal# 9948
VIN#1GNDT13SXXXXXXXXX, 2007 CHEVROLET TRAILBLAZER.
Santander Info:
XXXXXXXX
Remaining balance $3,390.93
Last 4 *** ss# ***
BD- ***
Death date- ***
This is all the paperwork we have. *** did everything online so we don't have any other paper trails that we are able to access. His payments were automatically withdrawn from his account monthly when he received his disability check.
Either they come get the car like they told us they would when we informed them of his death. OR they do a reasonable settlement offer that the family can take care of without the runaround. Every time one of us calls them they act like they were not talked to before about his death. It's been 5 months, maybe they should reimburse us a cost of holding this car in our driveway with all their promised lies of getting it.
June 3, 2020
Representative of ***, Deceased
Re: Revdex.com Case #: *** -***
Santander Account No.: ***
Dear Sir/Madam:
We have received your request 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.
We extend our sincerest condolences to you at this time and we apologize for the delay in this matter. The account was formerly serviced by Gateway and is now being serviced by Santander. We have reviewed our records with the information provided and have confirmed that if you require a voluntary surrender on the account, we require you speak to our Specialized Services Department you in order to proceed. You may always request a manager to assist you if your needs are not being met.
In regard to the settlement of the account, please note that our records indicate that on May 13, 2020 we offered an amount of $1,500.00 to settle the account in full as stated in the attached correspondence which was mailed and dated May 13, 2020. Please note that the account has been notated with a new expiration date of June 19, 2020.
Please contact our Customer Service Department at the telephone number below if you wish to proceed with our settlement offer. In addition enclosed please find an account contract and payment history which shows how payments were applied to the account for your reference.
As of the date of this response the account indicates a due date of March 10, 2020 and a remaining principal balance amount of $3,281.85 excluding interest and fees, if any.
We again apologize that you feel that you have been treated in an unprofessional manner. Thank you again for the opportunity to address your concerns.
If further assistance is needed, please contact our Customer Service Department directly at X(XXX) XXX-XXXX. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
(The consumer indicated he/she DID NOT accept the response from the business.)
They lost their chance to settle this acct with family when they refused to be honest. I am charging them a lot fee of $25 for every day this vehicle sits in my driveway from the time of Mr *** death. . Done playing games with this company
June 17, 2020
Representative of ***, Deceased
Re: Revdex.com Case #: *** -***
Santander Account No.: ***
Dear Sir/Madam:
We have received your additional request 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.
We regret that you did not accept our previous responses. Please note that Santander has provided you the available options for the account. In addition, please note that if and when the vehicle is secured we request that the vehicle be located in an accessible location.
We respectfully decline your request for daily storage fees.
If further assistance is needed, please contact our Customer Service Department directly at X(XXX) XXX-XXXX. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
(The consumer indicated he/she DID NOT accept the response from the business.)
Due to your company negligence to come get the vehicle after you had been told several times where it is. And we were told several times to put the keys in it. Here we are 6 months later and you still have not picked up the vehicle and now you are refusing to pay a holding fee for us letting it parked on our property. On 6/23/20 I will be reporting it as an abandoned vehicle and have it towed away. Therefore it will be out of my driveway and out of my hands. I am done trying to work with such a disrespectful company and will be sure to share this experience with anyone that asks an opinion of your company.
By far the worst company ever to get an auto loan from
The interest rate and car note is ridiculous I had my car for over 5 years and it seems as if I didn't pay nothing towards itð??¡ð??¡ð??¡
Delete negative reporting for all credit agencies.
My auto loan account for a Kia Sedona was opened Sept. 2011 and charged off as bad debt in the amount of $6,405.00; 2/29/2016. Santander has continued to report this debt on my credit to this date. Santander engaged in deceptive servicing practices and actively misleading consumers about their rights and risks of partial payments and loan extensions. Under the *** 19th settlement, Santander will be required to provide restitution & relief in multiple ways to consumers to help repair consumers' credit reports who defaulted on loans between January 1, 2010 and December 31, 2019.
Cust.# XXXXXXX
VIN Ending # XXXXXX
At a minimum I would request Santander to reach out to all credit reporting agencies (for example: Equifax, Experian, and TransUnion) and request the deletion of any negative reports for this account.
June 02, 2020
***
*** Place
*** XXXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account Number: ***
Dear Ms.:
We have received your request through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your "Retail Installment Sale Contact Simple Finance Charge" (Contract):
Date: September 13, 2011
Vehicle: 2006 KIA Sedona
Amount Financed: $9,837.04
APR: 25.99%
Term: 36 months
Monthly Payment $396.29 (first payment due October 13, 2011)
Dealership Gwinnett Suzuki
Please be advised that Santander Consumer USA Inc. is the indirect lender and assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase.
The following exceptions were made to the 36 month contracted payment schedule:
Late Payments: 45 (assessed 10 days after due date)
In some months, partial payments and/or no payments were received.
Due date change: 1
Extensions: 8
Modification: On July 2, 2015 (Lowered payments from $396.29 and APR 25.99% to $297.45% and APR 9.40%, due to the account being matured, for a new term of 69 months.)
Please be advised that interest does not stop accruing when there has been payment assistance granted on the account or when payments are late and/or not received. There is no grace period for the accrual of interest.
After a 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.
When a payment is received, the outstanding accrued interest must be satisfied first. The remainder of payment is applied toward fees owed on the account, then principal. The amount of accrued daily interest can vary based on the amount of the principal balance and the number of days between payments.
The account charge off on February 29, 2016, due to the account exceeding over a 120 days without a payment. The last payment received was dated on November 2, 2015, in the amount of $298.00.
Please be advised that we are unable to substantiate your statement that, you were misled regarding the monthly payment as well as any assistance received throughout the account. Per the assistant agreement it explained the "Payments of overdue amount will first be applied to the accrued and unpaid finance charges and the remainder of the payment will be applied to reduce the unpaid financed. Enclosed is a copy for your records.
You may obtain additional information regarding the settlement, including the states that participated, online at: http://santandermultistateagsettlement.com.
The Fair Credit Reporting Act requires that we accurately report account information to the credit reporting agencies. We provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion, and Innovis, however, reporting may differ between agencies. The customer may need to contact the agencies directly regarding any differences between reports.
Based on the information provided, on May 28, 2020, we submitted an update to the credit reporting agencies to report the account as unpaid charge off with a current balance and past due balance of $6,405.00.
Please allow up to 30 days for the update to be reflected on your credit report(s). The update was submitted under Audit Number: XXXXXXXX which you may reference for any contact you may have with the credit reporting agencies to confirm the update. Please allow 30 days for the update to be completed.
Based on a review of the account, no further update will be made to the information being reported.
We hope that the written explanation we have provided above regarding account activity is helpful to you in further understanding how simple interest compounds and how it affects the balance on a daily basis.
Enclosed is a copy of the Contract, Payment History and Modification Agreement.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at 1(888) 222-4227. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
this company didn't do there due diligence to contact me about an account that wasn't gotten from me. they let a debt be obtained in my name
this company didn't do there due diligence to contact me about an account that wasn't gotten from me. they let a debt be obtained in my name and then charged it off as bad debt to my consumer credit report.
Remove this misinformation immediately
June 2, 2020
***
***
*** XXXXX
Re: Revdex.com Complaint No.: XXXXXXXX
Santander Account No.: ***
Dear ***:
We have received your request submitted through the Revdex.com. Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your Retail Installment Sale Contract (Contract):
Date: July 30, 2019
Vehicle: 2018 Mercedes Metris
Amount Financed: $30, 322.00
APR: 21.17%
Term: 72 months
Monthly Payment: $753.60 (first payment due September 13, 2019)
Dealership: Mercedes Benz of South Carolina
In response to your debt validation request, enclosed are copies of documents which validate the debt and the amount currently owed on the account.
A review of the information provided to the credit reporting agencies shows that on April 30, 2020 we reported the account as charged off with a balance of $33, 272.00. The account charged off on March 31, 2020 when the account became over 120 days past due or after the vehicle was sold.
Please be advised that the information you provided in your request response has been submitted to our Fraud Risk Department for further review which now has created Case #XXXXXX for review. Once their review is completed, a response will be sent directly to you. Please allow up to 30 days for their response.
The Fair Credit Reporting Act requires that we accurately report account information to the credit reporting agencies. We provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion, and Innovis, however, reporting may differ between agencies. The customer may need to contact the agencies directly regarding any differences between reports.
A review of the information provided to the credit reporting agencies shows that on April 30, 2020 we reported the account as charged off with a balance of $33, 272.00.
Based on a review of the account, no update will be made to the information being reported until a determination is made by our Fraud Risk Department.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at X(XXX) XXX-XXXX. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
If further assistance is needed regarding your identity theft claim, please contact our Fraud Risk Department at (XXX) XXX.7716.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures: Contract, Payment History
Under *** 19th's settlement, Santander will be required to help repair consumers' credit report.
My auto loan account for a Kia Sedona was opened Sept. 2011 and charged off as bad debt in the amount of $6,405.00; 2/29/2016. Santander has continued to report this debt on my credit to this date. Santander engaged in deceptive servicing practices and actively misleading consumers about their rights and risks of partial payments and loan extensions. Under the *** 19th settlement, Santander will be required to provide restitution & relief in multiple ways to consumers to help repair consumers' credit reports who defaulted on loans between January 1, 2010 and December 31, 2019.
Cust.# XXXXXXX
VIN Ending # XXXXXX
At a minimum I would request Santander to reach out to all credit reporting agencies (for example: Equifax, Experian, and TransUnion) and request the deletion of any negative reports for this account.
June 03, 2020
***
*** XXXXX
Re: Revdex.com Case No.: XXXXXXXX
Santander Account Number: ***1997
Dear Mr.:
We have received your request through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your "Retail Installment Sale Contact Simple Finance Charge" (Contract):
Date: September 13, 2011
Vehicle: 2006 KIA Sedona
Amount Financed: $9,837.04
APR: 25.99%
Term: 36 months
Monthly Payment $396.29 (first payment due October 13, 2011)
Dealership Gwinnett Suzuki
Please be advised that Santander Consumer USA Inc. is the indirect lender and assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase.
The following exceptions were made to the 36 month contracted payment schedule:
Late Payments: 45 (assessed 10 days after due date)
In some months, partial payments and/or no payments were received.
Due date change: 1
Extensions: 8
Modification: On July 2, 2015 (Lowered payments from $396.29 to $297.45% and APR from 25.99% to 9.40%, due to the account being matured, for a new term of 69 months.)
Please be advised that interest does not stop accruing when there has been payment assistance granted on the account or when payments are late and/or not received. There is no grace period for the accrual of interest.
After a 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.
When a payment is received, the outstanding accrued interest must be satisfied first. The remainder of payment is applied toward fees owed on the account, then principal. The amount of accrued daily interest can vary based on the amount of the principal balance and the number of days between payments.
The account charge off on February 29, 2016, due to the account exceeding over a 120 days without a payment. The last payment received was on November 2, 2015, in the amount of $298.00.
Please be advised that we are unable to substantiate your statement that, you were misled regarding the monthly payment as well as any assistance received throughout the account. Per the assistant agreement it explained the "Payments of overdue amount will first be applied to the accrued and unpaid finance charges and the remainder of the payment will be applied to reduce the unpaid financed. Enclosed is a copy for your records.
You *** obtain additional information regarding the Attorney General's settlement, including the states that participated, online at: http://santandermultistateagsettlement.com.
The Fair Credit Reporting Act requires that we accurately report account information to the credit reporting agencies. We provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion, and Innovis, however, reporting *** differ between agencies. The customer *** need to contact the agencies directly regarding any differences between reports.
Based on the information provided, on *** 28, 2020, we submitted an update to the credit reporting agencies to report the account as unpaid charge off with a balance of $6,405.00. The account charge off on February 29, 2016.
Please allow up to 30 days for the update to be reflected on your credit report(s). Based on a review of the account, no further update will be made to the information being reported.
We hope that the written explanation we have provided above regarding account activity is helpful to you in further understanding how simple interest compounds and how it affects the balance on a daily basis.
Enclosed is a copy of the Contract, Payment History and Modification Agreement.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at X(XXX) XXX-XXXX. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
Bad credit loan yes....BUT:
Balance on 9/28/15 was $25,486.18.
Two years and 15 payments totaling $9369.59 later..balance was still $25,486.18. WOW
Auto Loan originated in August of 2014 with Santander Consumer USA set to mature on 2/28/21 yet somehow still has a $13,781.38 payoff balance.
Account # is XXXXXXX
Balance on 9/28/15 was $25,486.18.
Two years and 15 payments totaling $9369.59 later..balance was still $25,486.18.
Was considering trading this vehicle in as it's getting tired and I'm in a much better place financially now so it's getting to be time for an upgrade and a newer vehicle. Started looking at the balance owed etc and it was an alarming number still so I started doing some research into my account history and found this.
This place is criminal....UNREAL
$598.32 payment each month per my contract ain't going to come close to that $13k payoff maturity date. Please advise what I can do with Santander to make this right.
Thank in advance,
*** B
Accurate numbers and legally acceptable practices by this company
June 2, 2020
***
***
*** IN XXXXX
Re: Revdex.com Complaint No.: XXXXXXXX
Santander Account No.: ***
Dear ***:
We have received your request through the Revdex.com. Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
Our records indicate the following terms of your *** (Contract):
Date: July 12, 2014
Vehicle: 2010 Chrysler 300
Amount Financed: $24,456.47
APR: 15.92%
Term: 72 months
Monthly Payment $598.32 (first payment due August 26, 2014)
Dealership Ray Skillman Westside Imports Inc.
Please be advised that Santander Consumer USA Inc. is the indirect lender and assignee of the Contract. The approval of an assignment of any contract, including yours, is based on the information provided to us by the customer and the Dealership. The terms of the Contract were negotiated with the Dealership at the time of purchase.
The following exceptions were made to the 72 month contracted payment schedule:
Late Payments: 24 (assessed 10 days after due date)
In some months, partial payments and/or no payments were received.
Returned Payments: 1 (non-sufficient funds or other)
Due date change: 1
Extensions: 4 (May 2015, June 2015, December 2015 and January 2016)
Modification: 6-month term (Lowered payments from $598.32 to $358.99 from
(August 15, 2016 to January 28, 2017)
Please be advised that interest does not stop accruing when there has been payment assistance granted on the account or when payments are late and/or not received. There is no grace period for the accrual of interest.
After a 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.
When a payment is received, the outstanding accrued interest must be satisfied first. The remainder of payment is applied toward fees owed on the account, then principal. The amount of accrued daily interest can vary based on the amount of the principal balance and the number of days between payments.
Please note your current maturity date is February 28, 2021. As shown on the enclosed payment history the principle balance indicates an amount of $13,326.93.
Additionally the estimated amount to pay off your account is $13,889.87, good through June 16, 2020 which consists of interest in the amount of $116.18, late fee's in the amount of $407.00 and miscellaneous fees in the amount of $40.00. This payoff amount is subject to a final reconciliation and accounting and may change if there are returned payments or fees assessed on the account within 30 days of this quote.
We hope that the written explanation we have provided above regarding account activity is helpful to you in further understanding how simple interest compounds and how it affects the balance on a daily basis.
Enclosed is a copy of the Contract and payment history for your reference.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at 1(888) 222-4227. Our hours of operations are: Monday- Friday 7am-9pm CST, Saturday 7am-5pm CST, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures
I have been trying to contact Santander with regards to an outstanding debt.
Please see the attached letter sent on April 1, 2020 asking for relief under the Cares Act.
The vehicle in question was purchased in 2014 with a sticker price of approximately $6,000.00 and was charged off in 2016 for $11,000.00 after I was offered a settlement of $5,000.00. Both of these amounts are outrageous and I am seeking assistance in the matter.
I am seeking an agreeable amount to consider the balance paid and all previous negative reporting to be removed.
June 2, 2020
***
***
*** OH XXXXX
Re: Revdex.com Complaint No.: XXXXXXXX
Santander Account No.: ***
Dear Ms.:
We have received your request submitted through the Revdex.com (Revdex.com). Thank you for allowing us the opportunity to address your concerns regarding your account with Santander Consumer USA Inc.
We are aware of current events that may be affecting our customers and we regret any inconvenience you may be experiencing during these times. Please be advised that we have experienced a high call volume and unforeseen delays and regret any inconvenience that you may have experienced in attempting to resolve this issue. Our customers concerns and experiences are of the utmost importance to us and we appreciate your feedback regarding this matter.
Our records indicate the following terms of your "Retail Installment Sale Contract" (Contract):
Date: February 24, 2014
Vehicle: 2007 Dodge Caliber
Amount Financed: $11,655.87
APR: 24.77%
Term: 48 months
Monthly Payment $388.87 (First Payment Due: April 10, 2014)
Regarding your concerns of a $6,000.00 balance, we refer you to the Federal Truth-In-Lending Disclosures section of the Contract, under the "Finance Charge", the dollar amount that the credit will cost you is $7,009.89 plus the "Amount Financed" of $11,655.87 which equals the "Total of Payments", which indicates an amount of $18,665.76. This is the amount that you would have paid, if all payments were made according to the 72 month payment schedule set forth in the Contract.
Regarding the request attached to your complaint, if you would like to proceed with requesting a settlement, please contact our Customer Service Department at the telephone number listed below. In addition, we were unable to locate any settlement agreement in the amount of $5,000.00. We apologize for any inconvenience regarding this matter.
The Fair Credit Reporting Act requires that we accurately report account information to the credit reporting agencies. We provide account information to the four major credit reporting agencies: Experian, Equifax, Transunion, and Innovis, however, reporting may differ between agencies. The customer may need to contact the agencies directly regarding any differences between reports.
A review of the information provided to the credit reporting agencies shows that on May 8, 2020 we reported the account as Opened/Charged Off with a balance of $11,367.00. The account charged off on November 30, 2017 when the account became over 120 days past due.
Once an account has been reported as charged off, it will continue to report as charged off even if the customer continues making payments or if the balance is settled, as Charge Off is a final status. The account will continue to report until the statute of limitations addressed by the FCRA is met. If payments are made, the deficiency balance decrease will be reported accordingly.
Based on a review of the account, no update will be made to the information being reported.
Thank you again for the opportunity to address your concerns. If further assistance is needed, please contact our Customer Service directly at X(XXX) XXX-XXXX. Our hours of operations are: Monday- Friday 7am-9pm CDT, Saturday 7am-5pm CDT, and Sunday- Closed.
Sincerely,
SANTANDER CONSUMER USA INC.
Enclosures: Contract, Payment History