Consumer complaint received 2021-01-29
Company: TD BANK US HOLDING COMPANY
State: FL
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Charged fees or interest you didn't expect

Complaint:
Back in XXXX of XXXX we contacted our bank to ask them to defer the payments for our corporation 's installment loan and they agreed to do so for 6 ( six ) months. As a result, we were not required to make any payments for XX/XX/XXXX through XX/XX/XXXX and we resumed making our payments in XX/XX/XXXX, as per our Covid-19 Relief Agreement. 

Our statements received during the deferral period indicated on them that no payment was due at that time. Our XX/XX/XXXX statement indicated that we had to pay the normal monthly payment by the due date of XX/XX/XXXX ( which we did XXXX but never showed any additional amounts to be due. Neither did our XX/XX/XXXX or XX/XX/XXXX statements, all of which were paid on time by their due dates We even have our XX/XX/XXXX statement, which is due by XX/XX/XXXX and it does not show any additional amounts due. 

However, beginning on XX/XX/XXXX we started to receive notices that were marked as past due amounts. The first notice we received was marked with a " bill date '' of XX/XX/XXXX with a " due date '' of XX/XX/XXXX. On that same date we also received another notice with a " bill date '' of XX/XX/XXXX and a " due date '' of XX/XX/XXXX. 

Then, on XX/XX/XXXX we received 2 more separate notices. One had a " bill date '' of XX/XX/XXXX and a " due date '' of XX/XX/XXXX and one had a " bill date '' of XX/XX/XXXX and a " due date '' of XX/XX/XXXX. XXXX, on XX/XX/XXXX we received our regular bill for XXXX 's payment with a " bill date '' on XX/XX/XXXX and a " due date '' of XX/XX/XXXX ( which is correct ) however, NONE of our regular bills for our payments due starting back up in XXXX of XXXX ever indicated that we ALSO owed any additional fees/interest. 

Now, we KNEW we would possibly owe extra interest but our agreement stated that, if we did, they would bill us for any additional amounts due over the next 12 months. 

As you can see from our submitted documents, we were NEVER billed ANY additional amounts until XX/XX/XXXX when we started to receive these additional bills ALL AT ONE TIME, NOT over a 12 month time frame. 

Upon receipt of these additional bills and not understanding exactly why they were all billed at one time, we contacted the bank and they began to try to get to the bottom of this. 

As of today, XX/XX/XXXX, we received an email back from the bank manager and she told us that the contacts she spoke with were not going to spread these payments out and that THEIR computer showed that they HAD been billing us since XXXX, which they clearly had not. They are DEMANDING that we not only make our regular payment this month but also ALL of the additional deferred interest payments NOW, which is not right. If they had provided us with these additional bills back in XXXX, we would have paid them each month along with our regular payments. However, in light of the fact that we are STILL in the middle of a pandemic and our " live events '' industry is STILL basically dead, we feel that they are being unfair and untruthful about the billing techniques they used. Their own paperwork shows that they failed to bill us for each month DURING that particular month and they they billed us for ALL of it in a matter of just three ( 3 ) days.

We would like to request your help in getting them to simply adjust the due dates of these deferred interest payments so that they are not all due NOW, at one time. We feel that only one ( 1 ) payment should be due in XXXX XXXX the month they started to bill us ) and then each month another one, along with our regular payment. Or, if possible, completely REMOVE these additional amounts simply because of the fact that they went about this in the wrong way and have caused undue stress and hardship. 

Never have we seen anyone DEMAND 4 months worth of bills of any sort all at one time when the bank is the one that issued these bills apparently late.

Company response to consumer: Closed with explanation