Product: Vehicle loan or lease

Hello, I am writing to file a formal complaint regarding an incredibly frustrating and unfair issue I have experienced with Santander. Despite my efforts to resolve this matter directly with them, they have refused to take responsibility for what I firmly believe is their error. I am appalled by the lack of accountability on their part and the severe damage they have caused to my credit score. I feel helpless, angry, and deeply disappointed that a financial institution could treat a long-standing, reliable customer in such a dismissive and unjust manner. 

Here is the situation in full detail : I have had an auto loan with Santander for the last 6 years. Throughout this entire period, every single payment for my vehicle has been autodrafted from my bank account on time and without fail. Not once in the 6 years of this loan was a payment missed. However, the very last payment to complete the terms of my loan agreement was not autodrafted from my account for some inexplicable reason. I was completely unaware of this until Santander called me to inform me that my payment was late.

I was shocked. The reason I didnt notice the payment had not cleared is simple : for six years, I have relied on Santander to fulfill their commitment to autodraft my payments as agreed. This is a process that has worked flawlessly for years, and I had no reason to think anything would change.

As soon as I was notified of the issue, I acted immediately and made the payment over the phone. But I was never informed ahead of time that the payment would not be autodrafted. The statement that I have attached ever SAYS " account is set up on reoccurring payments!!!! '' After contacting my bank to investigate, they confirmed that there was no reason on their end for the payment to have failed. My account had more than enough funds to cover the payment, and my banking information has remained unchanged. Santander still reported my account as 30 days late to the credit bureaus, which resulted in an outrageous XXXX drop in my credit score.

This is a devastating blow to my credit. I rely on my credit score to access reasonable interest rates and terms for future financial needs. The sudden drop has put me in a precarious position, and it was entirely due to an error outside of my control. To make matters worse, when I contacted Santander to dispute this and request they correct their mistake, they outright refused. Not only that, but they also charged me a late fee for a payment that should have been autodrafted in the first place!

This situation is completely unreasonable and feels deeply unethical. I have upheld my end of the agreement by providing accurate banking information, ensuring sufficient funds in my account, and making every payment on time for the entire 6-year term of my loan. My payment history with Santander has been perfect, and there is absolutely no valid reason for the final payment to have failed. The error is clearly on Santanders part, yet they are punishing me by reporting a catastrophic derogatory mark to my credit report.

It is absolutely unacceptable for a company to inflict such significant harm on a customers credit standing and financial well-being over an issue that stems from their own error. The XXXX drop in my credit score has caused me undue stress and XXXX  as I prepare to use my credit in the near future. This mark on my credit report has made it significantly harder for me to access favorable terms, and I will now face higher interest rates and fees because of something that was not my fault. 

I am asking for your assistance in holding Santander accountable for their actions. Enclosed with this letter, I am providing my bank statements and proof that the payment could have and should have been processed.Please note on the XXXX statement that it clearly states ( and confirms ) that the " account is set up on reoccurring payments. '' I am requesting your help to have this unjust late mark removed from my credit report immediately. 

This situation has caused me immense frustration and hardship, and I refuse to accept that a financial institution like Santander can make such a grave mistake, inflict significant financial harm, and then completely wash their hands of any responsibility. Their actionsor lack thereofare not only unfair but also feel like they must violate some form of consumer protection law. 


I have done everything in my power to rectify this situation and ensure that my payments were made on time. Not once in six years did I miss a payment, and this situation is the result of an error on Santanders part. I demand that this error be corrected and the late mark removed from my credit report immediately. Thank you for your attention to this matter. I look forward to a prompt resolution.