Consumer complaint received 2020-01-09
Company: Veros Credit, LLC
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
In XXXX I purchased a XXXX XXXX XXXX from XXXX XXXX XXXX XXXX. I agreed to finance at a 20 % finance rate my finance charge being {$6200.00} and the amount financed being XXXX agreeing to pay a total of {$21000.00}. I paid {$2000.00} down and a total of payments of XXXX, which should have been {$19000.00}. XX/XX/XXXX, I had a loan modification which was to clear any past due amounts and start me fresh ending my loan still at 48  payments just increasing my loan payment to {$420.00}. In XX/XX/XXXX I made my 48th payment and I had paid a total of {$20000.00} not including the $ XXXX down. After my 48th payment Veros credit stated I still owed {$2900.00}. I asked why and they kept giving me different answers and they all didn't make sense. The main answer I was always given was that I had 4 deferments and I said yes but I paid all 4 payments that where deferred within my 48 payments. I escalated this to Veros Credit consumer complaints, stating I believe there was an error and my loan was paid. I was told by XXXX in consumer complaints that more than $ XXXX was put to my interest and I still owed on my Principle. I let them know that there must be a posting error and to please correct the error. I was told it would be investigated and that it will all get resolved. I was extremely concerned because collections kept stating they are going to repossess the truck and I had paid it off. XXXX reassured me Veros will not repossess the truck and that if anything they will extend my maturity date to allow the remaining balance to be paid, but I explained that will not be necessary because we can all see I have paid my loan in full. During this process within a week of my complaint my credit was attacked by Veros multiple times ( more than 3 times )  dropping my score over 250 points, which has to date not recovered. I emailed XXXX and he reassured me that this was an error, on the phone he said he had contacted the credit bureaus the day prior and requested to correct Veros error of attacking my credit. XXXX reassured my credit would be fixed twice. The second week of XX/XX/XXXX I received a letter from Veros stating they concluded that because I did not pay on time every time that I owed them now over {$3300.00} and that my maturity date has been moved to XX/XX/XXXX. On XX/XX/XXXX, less than two weeks of receiving their letter, Veros repossessed my vehicle and the reason was that I didn't pay the monies that I was addressing with consumer complaints. I contacted XXXX in Consumer complaints and now he is not being truthful about everything that he has told me in email and over the phone. My truck is gone now, and my goal is that this doesn't happen to anyone again. Veros Credit are thieves and need to hold accountable. I was prayed on due to having bad credit and now Veros has made it impossible for me to even get another vehicle. Not to mention my credit score is so low now. Please help me stop them from doing this to someone else. I of course wish I could get my vehicle back, but this doesn't look like it will happen. Please help me.

Company public response: Company disputes the facts presented in the complaint
Company response to consumer: Closed with explanation