Consumer complaint received 2023-06-26
Company: U.S. BANCORP
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Loan balance remaining after the vehicle is repossessed and sold

Complaint:
Subject : Request for Assistance with Car Payment Due to Total Loss Loan Account Number : XXXX Dear Sir/Madam, I hope this letter finds you well. I am writing to bring to your attention the current financial difficulties I am facing in making my car payment. I kindly request your understanding and assistance during this challenging time. 

On XX/XX/2023, my vehicle, financed through US Bank, was involved in a significant accident resulting in a total loss ( flooded ). I have since filed a claim with my insurance company, and they are currently evaluating the extent of the damage to determine the fair cash value of the vehicle. 

While the insurance company is actively working on my claim, I find myself in a situation where I am unable to make my car payment as scheduled. The financial burden caused by the loss of my vehicle and the associated expenses has temporarily strained my budget. 

I understand the importance of meeting my financial obligations and maintaining a good payment history. However, the circumstances surrounding the accident have placed me in a position where I am unable to fulfill my payment responsibility until the insurance company settles the claim and provides the cash value of the vehicle. 

I kindly request your cooperation and support in extending some flexibility with regards to my car payment. I am committed to resolving this situation as soon as the insurance company makes the payment, and I am back on track financially. I assure you that I will work diligently to bring my payments up to date promptly. 

I value my relationship with US Bank and the trust you have placed in me as a responsible borrower. I have always maintained a good payment record, and I believe this situation is an unfortunate and temporary setback that I am working diligently to overcome. 

If there are any alternative payment arrangements or solutions that XXXX Bank can provide during this difficult period, I would greatly appreciate your consideration. Any assistance you can offer will not only alleviate the immediate financial burden but also ensure that I continue to fulfill my financial obligations to US Bank in the long term. 

I would be grateful for the opportunity to discuss this matter further or provide any additional information or documentation required to process my request. Please feel free to contact me at [ Your Phone Number ] or [ Your Email Address ]. I am available at your convenience to address any concerns or answer any questions you may have. 

Thank you for your understanding, support, and consideration in this matter. I have confidence in US Bank 's commitment to customer service and trust that you will take my current circumstances into account while considering my request. I look forward to a positive resolution that allows me to maintain my financial responsibilities and continue my positive relationship with US Bank. 

Yours sincerely, XXXX XXXX

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 explanation