Consumer complaint received 2017-12-23
Company: BANCO POPULAR DE PUERTO RICO
State: FL
Product: Debt collection
Sub-product: Credit card debt
Issue: Written notification about debt
Sub-issue: Didn't receive enough information to verify debt

Complaint:
What is this complaint about? 
Hello, this complaint involves a bank overcharging me in fees that were not agreed to. 
What type of problem are you having? 
Ive had this account since XXXX XXXX XXXX. And it has been a burden in my credit score ever since, it does not allow me to live up to my expectations. 

What happened? 
I was trying to come up with money to rejoin fall semester XXXX, i was making deposits in my savings account at this local bank every now and then. I found myself asking for information about student loan oportunities. A XXXX of a close relative had left me responsible of house expenses so I was not looking to pay on a regular basis and i made it clear. I was looking for a student loan period. The banks customer service host referred me to one of the reps, the employee was very nice and explained me lots of products that really interested me but she kept reminding me that i needed a cosigner and it was not posible due to the lack of credit i had. She gave me the details on a credit card that i would be able to use and pay at least {$25.00} dollars every month as the minimun payment or if i decided that i couldnt pay that month i would just called them and they would charge the same credit card the {$25.00} dollars so it wouldnt hurt my credit in the future. I was never instructed about credit score information until that point. I had to call them the first couple of months to let them know that i couldnt even buy an ice cream cone. I didnt even wait till the credit card was mailed because it was recomended that I spent as much money from the card because i would open my credit possibilities and also i needed the money. But I did not realize that they were charging many fees plus my statements were not arriving into my hands. I would have closed the account and paid off the debt with a monthly payment although it would hurt my credit but it was the logic choice knowing or not knowing about credit scoring. I havent been able to get a student loan or even a car loan. I even moved to try other possibilities because it is in my full interest to rejoin university. This has put a rock on the path of my dream. 

Step 4 : What company is this complaint about?

This company is called Banco Popular de Puerto Rico. It is one of the major banks in Puerto Rico.

Step 5 : Who are the people involved?

I am involved. I have a decent job making XXXX a month and i havent been able to get a loan for a car due to the many delinquencies. I even paid for an installment loan because I figured that I could do nothing about it but when I saw this page I decided to write this complaint because it has been real hard. I was paying them regardless and from almost {$700.00} debt plus all the other fees i brought it down to {$300.00} multiple times but that balance every month was increasing and i know for a fact that I only used the total credit available ( {$500.00} ) in the first week and ive been paying interest wven though the account is closed. In addition to that, due the hurricane they stopped charging my auto pay. And my statements now come with a sorry note and a monthly minimun balance of XXXX. I was not even updated on the status of my account. I am willing to send paperwork.

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