Consumer complaint received 2019-02-20
Company: VW Credit
State: AZ
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
Below is a letter I sent to VW Credit after ( on XX/XX/XXXX ) after contacting them initially on XX/XX/XXXX to discuss an excessive amount of money I would owe at the end of my loan ( last payment to be XX/XX/XXXX ). I was told that {$1600.00} dollar amount was interest as a result of the installment extensions I received throughout the life of the loan. NONE of those installment agreements, stated there would be a lump of interest attached at the end of the loan nor did my original loan agreement state this condition. As I attempted to understand how VW came to this figure, I had VW send my loan payment history, I also noticed that although I paid online ( VWs website ), VW showed payments made one/two days after they were made on THEIR site. I pulled my credit to find VW had reported me late an excessive amount of times and charged me for those reported late payments. When VW sent me the criteria for paying late, on most of those occasions I did NOT in fact pay late. Additionally, regarding the extensions, VWs policy stated they would not report those months within those extension agreements, but in fact did report them late. Finally, although I paid my final actual payment before the due date. I did not receive all that I requested to reconcile my account until XX/XX/XXXX preventing me from paying before XX/XX/XXXX, because I had to take a TSP loan out to pay the {$1700.00} in interest. When I called VW to let them know, they said they were sorry and could not help me. Now my account is closed and shows the interest paid as 30-60 days late. None of my concerns in the letter below were addressed. ( NEXT SECTION IS LETTER SENT DIRECTLY TO VW CREDIT ) Volkswagen Credit XXXX XXXX XXXX XXXX, OR XXXX RE : Account Number XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX AZ XXXX Dear XXXX, We spoke in XXXX about the remaining balance on my XXXX XXXX Loan and the number of lates reported to the credit bureaus. I understood that 1 ) No late fees would be assessed for the months that are included in the loan extension agreements and 2 ) No Lates would be reported to the credit bureaus. 
Ive attached a screen print of my XXXX  credit report showing the reported lates. Ive also attached the 3 loan extension agreements for the following dates : XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. 
Again, my dispute is with both the amount that is currently due at the end of my loan ; and the months that should have been included in the loan extensions ( as not reported late ) which have in fact been reported late. The current balance on my loan is approximately {$1600.00} ; minus what should have been my final payment ( {$800.00} paid today, XX/XX/XXXX ). What makes up this {$1600.00}? It certainly can not be late fees as I have paid late fees totaling {$950.00}, over the life of this loan. It appears I was also charged late fees for the months which were incorrectly reported. Again, I paid {$950.00} in late fees ( at {$30.00} per fee ). This {$950.00} works out to 31.5 times I was charged a late fee, how is that possible??? 
The credit bureau report shows Ive paid 17 times late ( which I am disputing as incorrect see below ). Again, how is that possible??? It certainly appears I have paid late fees for the months that should not have been reported as late! 
Certainly, this can not be {$1600.00} of interest. As of today, XX/XX/XXXX, I have in fact made 71 payments, which is the original 66 payments plus the addition of the 5 payments added to the end of my loan. How do I still owe {$1600.00}? 
As shown below and as evidenced on the credit reports, there are months as shown on the attached loan agreements which should have NOT been reported late, but in fact were reported late to the credit bureaus. 
Additionally, there are ALSO months for which I was reported late, when I was in fact not late, having nothing to do with the loan agreements! 
In XXXX, months XXXX and XXXX should not have been reported. In XXXX, only XXXX should have been reported late as I had the loan agreement covering XXXX and XXXX and all other months were paid on time. In XXXX, also no lates should have been reported as the month of XXXX was on an agreement and all other months were paid on time. 
Please review this matter as soon as possible and provide a resolution for how these issues will be corrected. 
Thank you, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation