Consumer complaint received 2020-05-01
Company: Santander Consumer USA Holdings Inc.
State: FL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
I write to request your bureaus assistance in correcting anomalies in Santander USAs reporting of my auto loan credit account which was recently closed. 

On XX/XX/XXXX, I sought and was approved for refinancing through XXXX XXXX  for my auto loan with Santander USA which i had opened since XXXX. Through several telephone conversations between that date and XX/XX/XXXX, i corresponded this fact to several different Santander USA customer service agents and informed them, that they should be receiving communication from XXXX XXXX in short order with payment to close my account with them. While Santanders agents acknowledged that they did see the payoff request from XXXX on file, they did point out that until they actually receive payment, i was ultimately responsible for the outstanding balance until paid in full. I contacted XXXX XXXX and encouraged them to expedite payment to Santander since i did not want my credit to be negatively impacted. The sales manager a XXXX of XXXX, XXXX XXXX, indicated that payment was submitted to Santander USA on XX/XX/XXXX and even provided a direct telephone number and requested that i forward same to Santander USA, so that they may contact him to expedite proceedings. All this was provided to Santander. On XX/XX/XXXX, Santander USA reported my account as being 60 days late, resulting in a 35 point drop in my credit score and tarnishing my perfect 100 % payment history. 

I called Santander, but was told they no longer had a credit reporting or resolution department and the regular customer service agents provided no recourse. I then contacted XXXX  and XXXX  and filed a dispute on the basis that my new auto loan with XXXX XXXX had been reflecting on my credit report since XX/XX/XXXX with a total that included the amount that was still outstanding to Santander USA, which was also still being reflected on my report as being outstanding at the same time. My question then and still now is ; why would a financial institution report me as being late, when at no point did the payoff amount had to go through me to pay to the previous vendor? This was simply a business to business transaction that should not have affected me, the customer unless one party refused to pay the other. 

When the results of the disputes arrived, I realized that not only had Santander USA refused to reverse the recent late reported payment, but they also resubmitted a late payment submission from XXXX of XXXX that i had disputed through the CFPB and which you had rectified. 

This has led to my on time payment history with Santander USA now being reflected as 85 %, down from 100 %. According to XXXX, even though this account is now closed, given that this has been the credit account that i have held the longest this far, it will remain an integral part of my credit worthiness going forward for the next foreseeable 7 years. 

To think that i took all the precautions and did all i could in both these situations to be a responsible consumer, it just isnt sitting well with me that this is the end result. I ask that your bureau reach out to the individual credit reporting bureaus and Santander USA, to have them review the details of Santander USAs reporting of my account and effect any possible positive changes, so that my future credit worthiness isnt negatively impacted. 

Sincere Regards, XXXX XXXX.

Company response to consumer: Closed with explanation