Consumer complaint received 2023-01-31
Company: TRUIST FINANCIAL CORPORATION
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem with paying off the loan

Complaint:
On XX/XX/2022, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) was declared XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX went ahead and issued the first check to pay off the vehicle to Truist bank on XX/XX/2022 for the amount of {$24000.00}. Truist bank never responded and we called multiple times, at least 2-3 times a week to ensure they got the check. They kept saying they had no record of it ever being delivered, however, XXXX sent proof of it being sent. XXXX decided to reissue a second check after the first one was not taken on XX/XX/2022 and sent it to a different address they got from Truist. The bank still did not cash it. So we continued to inquire on it and they continued to say they didn't get anything. All the time my husband and I kept sending monthly payments to keep our credit in good standing. We contacted the branch manager to help us with the case. He said he kept calling the total loss department in Truist and couldn't get through himself. So we asked XXXX to reissue the check again and send it to the branch manager. However, XXXX wasn't able to do that, so they reissued another check on XX/XX/2022 to pay off the loan again. The branch manager informed us that Truist had finally admitted they had received the check sent in XXXX for the amount of {$24.00}, XXXX. We were glad and thought that this would solve the whole situation. It wasn't the case. The branch manager said we could stop making payments on the loan in XXXX which was the last month we sent payment to the loan. We had to buy another vehicle because I had to go back to work and we were making payment on 3 vehicles including the total loss car we hadn't seen since XX/XX/2022 after it got taken to the junkyard. We were running out of funds to pay 3 vehicles so we stopped. The branch manager said there was an issue with the car 's title so we went to the Tax collector 's office in XXXX to try to help fix it and they told my husband we couldn't make any changes because the title and the vehicle was not under our name at all and it belonged to someone else. We told the branch manager and he said it was odd and he'd look into it. This was in XX/XX/2022. Truist started calling us to make payments on the loan in XXXX when it was some days late plus fees. We told them we had already discussed it with our branch manager. They insisted we make 2 monthly payments plus a late fee even though we haven't seen the car or even own the title to it. They said they would report it to the credit bureau and in XXXX our scores dropped because of it. We have never made any late payments. We even have a second loan with Truist and it's current. Our credit is still good but we lost points due to this mistake Truist has made. They have the check in their possession to payoff the loan but chose not to. XXXX tried many attempts to fix the situation. They said the car was already auctioned and there was no title with them of it. XXXX tried to make 3 way calls with me on the line many times and left voicemails. The branch manager gave us a letter signed saying we don't have to continue making payments to it and that our credit will be fixed but nothing has been solved. Now Truist still refuses to cash the check because now they want to know who owns the vehicle. How are we supposed to know that? And why do we have to continue making payments on the loan if they have the check to pay it off in the possession since XXXX? Why are they penalizing us and our credit for their own mistake? We have exhausted all avenues at solving this situation and it is unfair to us. We need this fixed!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief