Consumer complaint received 2017-11-17
Company: Santander Consumer USA Holdings Inc.
State: NC
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
I bought a car from a dealer with my then-husband ( XXXX XXXX ) back in XX/XX/XXXX. The vehicle was a XXXX XXXX XXXX. The purchase price was approximately {$19000.00}. 
We paid {$3000.00} down payment, but were also sold a warranty. The APR was told to us to be 11 %. The finance company that held the loan sold to us was Santander. We made payments on that vehicle for many years. Once a payment was misapplied to someone else 's account. That problem was rectified, but the company never corrected our credit reports to reflect the proper payment. 

As time wore on, my husband left the family when I was XXXX XXXX XXXX XXXX XXXX - and eventually we divorced. He left the vehicle with me and I assumed payments on my own. I needed the vehicle as it was large and we had XXXX children with XXXX XXXX XXXX XXXX XXXX. 

Things went from bad to worse and I struggled to make the payments. Several times Santander allowed me to skip a month 's payment. My husband filed bankruptcy as he ceased paying the mortgage on our marital home per support settlement around XX/XX/XXXX. He filed Chapter XXXX. He put the vehicle into the bankruptcy because we did not want to have any accounts open with both of us on them anymore, years after our divorce. 

He did not follow through with the terms of the bankruptcy and allowed his case to be dismissed. Not once but twice. After I learned of the second dismissal, I called Santander to resume payments. They had not received notice of the dismissal and told me there was " no account on which to pay. '' Many months go by. Thankfully, I had the foresight last spring XX/XX/XXXX to buy another vehicle for the children and myself. 

Santander finally realized the bankruptcy had been dismissed sometime around XX/XX/XXXX. They called and demanded {$7000.00} of me to keep the vehicle and keep the account in good standing. I tried to fulfill their wishes by taking out a loan. I was well qualified for a loan. However, the year of the vehicle was too old to borrow against. The vehicle 's value was nowhere close to {$7000.00}. I believe at the time XXXX XXXX XXXX gave me a value of approx. {$2500.00}. 

So, I attempted to sell the car to another buyer for the {$7000.00} hoping it was worth that on a private sale. I put money into the cleaning, maintenance, and upgrade of a few things for sale. Santander forbid me to do so and said the " deal '' was for me only. 

Eventually they came and repossessed the vehicle. I had no other options to rectify the account. They told me they would sell the vehicle at auction and let me know of my obligation on the balance due. The vehicle sold for nearly nothing at auction. We owe close to the purchase price paid in XX/XX/XXXX! Something is very wrong with their accounting practices, interest compounding, SOMETHING. I have the entire history of payments with Santander. The starting balance owed was {$19000.00}. 

The ending balance after 7 YEARS of payments is {$15000.00}. Please help us get out from under this account and this debt. I have applied as a XXXX XXXX working with the XXXX XXXX XXXX or the XXXX XXXX - and credit ratings are a definite factor! Also, my ex-husband has since been in a lot of legal trouble and has not been paying child support, so the chances of him contributing half to the amount due and owing is slim to none. 

Thank you, XXXX XXXX

Company response to consumer: Closed with explanation