Consumer complaint received 2019-03-21
Company: Santander Consumer USA Holdings Inc.
State: AR
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Struggling to pay your loan
Sub-issue: Loan balance remaining after the vehicle is repossessed and sold

Complaint:
To Whom It May Concern : I had a phone call from Office of the President at XXXX XXXX on today, Thursday, XXXX, at approximately XXXX from phone number XXXX and they continued their deceptive, unethical business practices towards me, yet again. 
I was told no more interest would be applied to the account. Yet, the information XXXX XXXX emailed me today ( in response to a notarized letter sent to them last week ) says {$2100.00} in interest + {$180.00} late fees + {$770.00} in miscellaneous fees have been added to this account through XX/XX/XXXX. They are now requesting a payoff of over {$14000.00}. I DONT HAVE THE XXXX XXXX XXXX vehicle anymore. They repossessed the car in XX/XX/XXXX and then sold it at auction XX/XX/XXXX for the amount of {$12000.00}. 

I AM TIRED OF THIS COMPANY LOAN SHARKING ME! Every time I look around, they are adding more and more to this account. I tried my best to make small payments towards the balance while being sick. Its to the point my health comes first. I dont have the car. But I have my health issues with a XXXX XXXX in the XXXX XXXX. I must pay people to drive me out-of-town to deal with those issues. 
I dont want this company calling me anymore. I can not agree to pay for something when a dishonest company is deceiving me. 

Take a look at the information they mailed me. Notice every time since the beginning when I make a payment, the amount does not go down. Ive been saying this forever. A person makes 2 to 4 payments before you see the amount go down even once. 

For example, take the payment made XX/XX/XXXX in amount of {$620.00}. I see 3 charges in XX/XX/XXXX on this account. Then XX/XX/XXXX, they still had not subtracted the payment from the account. It was showing {$27000.00} still in XX/XX/XXXX. Then a check was sent in amount of {$2400.00}. Chrysler Capital took {$1400.00} to apply towards principal and {$970.00} towards interest. But the account was only deducted {$27000.00} - {$1400.00} = {$26000.00} in XX/XX/XXXX. Then another check for {$1000.00} was mailed XX/XX/XXXX. They deducted {$26000.00} - {$1000.00} = {$25000.00}. 

The problem is they both add interest to this account. Then they keep part of the money paid towards the balance hidden and consider it interest as they did with the {$970.00} on XX/XX/XXXX and my XX/XX/XXXX payment of {$620.00}. CAR PAYMENTS DO NOT SUPPOSED TO OPERATE THIS WAY. 
How can they add interest to the balance and also hide interest to take the entire payment away where the balance never decreases? This scares me that a company is allowed to do deceptive business practices to consumers. I am sending this information to Consumer Financial Protection Bureau. I hope justice is served. 

EVERY PAYMENT I EVER MADE SINCE THEY SOLD THE VEHICLE IN XX/XX/XXXX, HAS BEEN APPLIED TOWARDS SOME HIDDEN INTEREST. Yet, Office of the President at XXXX XXXX specifically told me no more interest would be added to this account EVER because it had been charged off. They charged the account off in XXXX at {$13000.00}. Since then, it continues to go UP even AFTER I send in payments. It has caused me undue stress, XXXX, and chest painson top of my other, ongoing health issues. At this point, I can not and will not make further payments to this company, XXXX XXXX.

Company response to consumer: Closed with explanation