Santander Complaint
Submitted by: Anonymous | Post a complaint | Back to Complaints Forum
I have purchased a vehicle from Santander Consumer after a Bankruptcy. I was unaware of the Predatory Lending Practices of this firm. I have payed consistently for years until i lost my kljob due to a fire that left me on On Call part time job. I requested assistance and was sent a document that confirmed payments would be sent to tge back of the loan for (2) months plus fees accrued. I signed the agreement. Following , i was called by Customer service stating in behind on my note and owe $475. I expressed i paid the month’s payment upon signing the agreement that stated no fees would be accrued. I paid the fees with the next pay period
(Feb.2018) they stated to me the following month the samecthing. I made payments of $900 – $1200 additionally (Paying 4 times in one month to be current. Nothing i did would correct this. I was told that after evaluating my Statements, i owe the same amount i did when i 1st received the loan (2016). I requested an Amortization Schedule to show the breakdown of what amount is going to Principle vs. Interest. I was told thstvthe firm doesn’t have an Amortization schedule. I spike to the executive boards to request help. They stated the loan i signed states its Interest only. I understood this to mean as i was told for the 1st year. I’ve been with Santander since 2016, now 2019. October will be 4years. HOW CAN I OWE THE SAME AMOUNT. THIS WAS NOT EXPLAINED OR WORDED WITHIN THE CONTRACT TO STATE SUCH PREDATORY LENDING. NOTHING I DO HELPS. IF I PAID THE ENTIRE $25,000 IS THE ONLY OPTION. THE CARS VALUE HAS DIMINISHED DRAMATICALLY. (Valued $14000- No option to refinance due to false incorrect info on my credit).I CANNOT CONTINUE TO MAKE PAYMENTS TO THE ‘AIR!!.. PLEASE HELP!!
What would you like the company to do to fix the problem? (optional)
I want to be compensated for the 3.5 years of payments that were made tha neither went to Principle or Interest ($7000-$10,000(
Also, my credit has been falsly damaged by showing payments were late when in fact payments were made on the dates. The company consistently hid at time of purchase the Interest only rule that was suppised to be for one year now continued three years later.
I want my credit repaired /restored for 3.5 years of payments.