Consumer complaint received 2018-11-15
Company: Santander Consumer USA Holdings Inc.
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Unable to receive car title or other problem after the loan is paid off

Complaint:
The Consumer Financial Bureau received a response back from Santander Consumer USA and closed the complaint under complaint number XXXX as account closed with monetary relief. After not receiving a refund or any monetary relief, I contacted the Consumer Financial Protection Bureau twice on XX/XX/XXXX in reference to monetary relief being received. I was advised that I could contact the company and if no resolution is given, then I can file a new complaint. The response states the company Santander made an adjustment to the account and reflected the balance it as write off in order to close the account. Monetary relief is a protection available to trademark owners under the Lanham Act. Monetary relief includes provable damages, attorneys fees, corrective advertising costs, defendants or plaintiffs lost profits, prejudgment interest, punitive damages, reasonable royalty, or treble damages. This is not what Santander Consumer provided. New evidence provided, in the response Santander provided they performed a write off for the amount which the Consumer Financial Protection Bureau indicated as Bad Debt. Just to clarify the history of the account, the account originally belonged to XXXX XXXX from XXXX until XX/XX/XXXX. Effective XX/XX/XXXX, is the date Santander acquired the account where the payments were made to them. First and foremost, allow me to specify collection of the debt and the balance due for Santander Consumer begins on XX/XX/XXXX, and not prior. Santander Consumer 's was only and hx  shows attempting to collect a debt starting XX/XX/XXXX, where the balance starts at {$7500.00}. The hx  of this account is that everything prior to this date was based on agreements handled with XXXX XXXX, where it was worked with the VP of XXXX XXXX. The hx  of the original agreement was XXXX XXXX was the original lender of the XXXX XXXX, and they assisted in negotiating the deal at the dealership XXXX XXXX XXXX XXXX. There were 2 sales agreements, the first agreement reflected like I didn't have a trade in, which would have resulted in the XXXX XXXX being financed for more than the trade in. XXXX XXXX told the dealership they could not cash the original check, because they didn't give me anything for my since I was trading in my vehicle, if they could pay off the vehicle in a separate check, then they could use the entire financing amount towards the vehicle, and the loan agreement would not be upside down. The trade in had a negative balance, which was higher. But, they agreed to issue a separate check to pay off the vehicle which was a XXXX XXXX XXXX. That vehicle was paid off to financing company XXXX XXXX. I trade in the vehicle, in addition to this I paid a downpayment of {$2500.00}. Also on that trade, the interest was above the legal limits in florida. The dealership was advised to submit a seperate sales agreement to the lender in order to cash the check. However, XXXX XXXX financed the loan under the original loan agreement falsifying that I didn't have a trade in, and there was no down payment. The XXXX XXXX financing agreement was based on the first sales agreement, like was paying for 2 vehicles, when i was only paying for 1. On top of that XXXX XXXX was financed as an upside down vehicle, and it was a discontinued vehicle which serious mechanical issues. I went back and forth with XXXX XXXX on this and worked it, where I approved There, was no negative balance that should have been rolled over into the loan to make it appear like I was paying for 2 vehicles because I was only paying for 1 vehicle which was the XXXX XXXX. The way the loan was written, based on the original sales agreement, made it appear like I didn't have a trade in, when the check XXXX XXXX 's subsidiary company XXXX XXXX received was a separate check that paid off the vehicle trade. This resulted in the XXXX XXXX which was a lemon, and a discontinued vehicle being financed above the market value. As my result in working out the agreement I turned it in as a voluntary repossession, I requested the account balance to be forgiven, they stated they could not at the time. The most they would could do is write off the interest. I would agree to pay {$80.00} a month and that would be applied to the principal only. They would remove the account from my credit report. After 6 months to a year they would re-evaluate if they could write off the principal balance. I agreed and this was being handled off the books. This agreement became effective in XX/XX/XXXX, which is why account hx shows when these payments start in the hx XX/XX/XXXX, in the attachment from the response from Santander. I continued to make payments to XXXX, and see nothing being in the interest or principal field because my agreement with them. From XX/XX/XXXX to XX/XX/XXXX to XXXX XXXX, those payments totaled to {$1900.00}. In addition to what the car was sold that was {$1300.00}. This left a balance of {$7900.00}, which when Santander Consumer USA acquired it in XX/XX/XXXX, their account balance showed on {$7500.00} because per my agreement with XXXX XXXX, which were being handled all my payments would be going to the principal only. XXXX wrote off the interest, and sold them the account which is why when their ledger took over it shows {$7500.00} as of XX/XX/XXXX. Once they acquired the account, I had to call them to tell about this, agreement, because they were harassing me where the system was robocalling consistently. After speaking to them back in XXXX, they acknowledge they saw the agreement, and it would take a month for me removed from the system. On top of that, because I had this agreement, and was honoring it faithfully that originated with XXXX XXXX, I issued Santander Consumer Financial Auto a cease and desist letter. In the payment hx you noticed frpm XX/XX/XXXX - XX/XX/XXXX, my payments of {$80.00} was being made by me. But, it was being applied but you don't see the hx see a balance for the principal or interest during that time. That was because it was being handled based on the agreement, and they were negotiations of the sale of Santander Consumer USA, and per the VP, adjustments would to the account would be made prior to the sale. I was aware there would be potentional sale, didn't know to whom. So prior to XX/XX/XXXX agreement, that account hx  was XXXX XXXX, where the interest where from the agreement, and agreement off the books, they received the payments of {$80.00}, and would write off the balance prior to the sale. This is why as of XX/XX/XXXX, when XXXX XXXX acquired the account, it was only for principal not the interest. The account hx attached in their response shows on XX/XX/XXXX, the balance was {$7500.00}, which is the only amount they were focused on collecting which was for principal only at this point, as a result of XXXX XXXX trying to correct their wrong doing. So, Santander didn't have any interest to write off, because of they only started to collecting on XX/XX/XXXX based on transfer for the principal balance only for {$7500.00}. They were not responsible for collecting anything above that. this why you see that amount in the hx on XX/XX/XXXX. Proof of the collection balance shows {$7500.00} being paid off by me from From XXXX XX/XX/XXXX. This is why when you look at the account hx, you see the principal amount being reduced, to where the balance is {$0.00} by that time. As I explained this when I contacted and spoke to the manager of the deficiency department, that I paid off the balance in full in XX/XX/XXXX. There should have not have had to do a write off of an amount totaling as an estimate of a little over {$7900.00}. The hx from XX/XX/XXXX clearly shows they should have only been collecting {$7500.00}, and per the agreement that I already had with XXXX XXXX, which is why this was treated as a special account per my agreement with them, is that I was paying {$80.00} a month, which the hx clearly shows started from XX/XX/XXXX, I continued to make payments based on the special arrangement made with XXXX that was carried over per agreement to only be responsible pay off the principal. XXXX XXXX handled, the adjustment of the interest prior to the sale, and see nothing being in the interest or principal field because my agreement with them. From XX/XX/XXXX to XX/XX/XXXX to XXXX XXXX, those payments totaled to {$1900.00}. In addition to what the car was sold that was {$1300.00}. This left a balance of {$7900.00}, which when Santander Consumer USA acquired it in XX/XX/XXXX, their account balance showed on {$7500.00} because per my agreement with XXXX XXXX, which were being handled all my payments would be going to the principal only. The account hx, from the time they acquired the account on XX/XX/XXXX. Account hx  shows that I continued to pay the {$80.00} a month from XX/XX/XXXX to XX/XX/XXXX which was clearly being posted to principal column based on their account hx which was attached to their response. Their account hx shows that account balance was satisfied with the principal being paid off as of XX/XX/XXXX. Therefore, Santander Consumer USA, after receiving my complaint from the Consumer Financial Protection Bureau went back adjusted to the account say the account is closed, and then considered monetary relief is them writing off interest. But, they were never due any interest, their collection time period when they acquired the account they accepted my payment of {$80.00}, and continued to apply to the principal which was paid off in XX/XX/XXXX. In XX/XX/XXXX, with knowledge of receiving and proof showing when they acquired the account on XX/XX/XXXX from XXXX XXXX, they were only collecting principal of {$7500.00} with no interest due to XXXX XXXX attempt to correct their wrong per my previous agreement with XXXX XXXX based on the account being sold them. Santander, has received payments which the hx   shows resolved the {$7500.00} in XX/XX/XXXX, because each month they continued to honor the same agreement from XXXX XXXX, where the account was paid in full. Then from XX/XX/XXXX to XX/XX/XXXX, I continued to pay because I never received anything saying that it was satisfied, they applied my {$80.00} a payment to the account where there was no interest or principal due. The account hx shows that is a total of {$1200.00} above the {$7500.00} principal balance that I paid. All, I'm trying to due is to get them to correct account properly, there was no interest due because the original lender XXXX XXXX already made the adjustment, when they received the account, all the payments to XXXX from XXXX from XXXX XXXX. When Santander acquired collection started on XX/XX/XXXX for only {$7500.00}. Payments were made from XXXX XX/XX/XXXX at XXXX a month totaling to {$8700.00} for the principal only. No interest was due to Santander Consumer. I'm due a refund of {$1200.00} due to proof in the hx shows they was no more principal due as of XX/XX/XXXX. The adjustment should have been made to reflect based on the timeframe which they acquired the account XX/XX/XXXX, to show account balance of {$7500.00}, balance XXXX, paid in full. All, the fees and interest prior to XX/XX/XXXX, and adjustments was already handled by XXXX XXXX, it was not them. XXXX XXXX honored their agreement to me by removing it from my credit, not re-inserting, and writing off the interest. But they sold the principal to Santander Consumer, where I paid that account principal off. Santander didn't provide any monetary relief because there was an overpayment above the amount {$7500.00}, and I overpaid the {$1200.00}. The manager stated she would send it to their executive office. I don't want them to respond to me directly, but to the consumer financial protection, as this is a new complaint based on the hx which shows everything I'm stating. In accounting you can't write something off, if you already received payment for it, which is why I attached the XXXX and statement XXXX because, since they made their adjustment, they are misrepresenting they were ever due to interest. But, accepted payments honoring the original agreement. This is very stressful to have to deal with them especially have to deal with XXXX XXXX, property damage, and then someone stealing my identity. I'm trying to get this handled correctly to ensure I'm refunded based on the proof, and my agreement with XXXX XXXX. I want to make sure its adjusted correctly, and it remains closed and that I receive my refund of {$1200.00}. I paid my debt, they were not due to interest, because it was never transferred to them by XXXX XXXX

Company response to consumer: Closed with monetary relief