Consumer complaint received 2021-12-01
Company: Santander Consumer USA Holdings Inc.
State: TX
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
I am a consumer and natural person and I have exercised my right to rescind any transaction and XXXX is violating Federal Law by not adhering to what the effects of rescission is. This complaint is my CLAIM under 16 Code of Federal Regulations 433.2 which is found in my consumer credit contract from XXXX dated, XX/XX/XXXX. 

On XX/XX/XXXX prior to my relocation to XXXX XXXX XXXXo start a family and my new job I got in contact with XXXX XXXX of XXXX via text and phone call from XXXX, XXXX XXXX. He took my credit card information over the phone and ran my credit. I now know this was a credit sale and he used my social security card as the device to extend credit to myself. These definitions are found under the Truth in Lending Act, 15 USC 1602. 

He claimed we have more than enough time to get the car I wanted transported from another location of XXXX, to the one closest to the Airport that I would be flying into at XXXX XXXX XXXX, XXXX, XXXX  XXXX. I landed in XXXX on Friday XXXX XXXX and rented a car for 4 days. I got a call and text from XXXX XXXX on XXXX XXXX stating that " the car is here but we haven't gotten all the paperwork yet. '' I was at my cousins funeral that day so I cut the conversation short out of frustration and death in my family. With this delay, I had to extend my car rental another day which became very costly all due to XXXX 's error and unprofessionalism. 

XXXX XXXX shared it was out of his control, however he does have another car ready to go but it's {$2000.00} more than what I budgeted for. I asked to speak to the Manager about getting a better deal, but no opinions were swayed. In desperation, I took it. I needed a car for personal use to get to work almost an hour away from my abode in XXXX XXXX to XXXX XXXX XXXX, TX. 

I was sold a XXXX XXXX XXXX with a recall on the hood latch. When it came time to indorse the consumer credit contract, defined as any instrument which evidences or embodies a debt arising from a XXXX XXXX XXXX transaction or a financed sale as defined in paragraphs ( d ) and ( e ) of this section ( 16 CFR 433.1 ) ; this is when my Fianc and I were made to feel very uncomfortable. I filled out a credit application and it got converted into a loan application, how? XXXX XXXX, another XXXX sales Rep. made everything feel nice and safe and then representatives were swapped out when it came time to sign the Consumer Credit Contract '' which is a negotiable instrument pursuant to 16 Code of Federal Regulations 433.1 ( i ). 

Negotiable instruments means an unconditional promise to pay a fixed amount of money, with or without interest or other charges described in the promise, pursuant to Uniform Commercial Code 3-104. This consumer credit contract contains language a promissory note would have. On page 1 it states, " PROMISE TO PAY. '' I endorsed it on the back with " PAY TO THE ORDER OF : SANTANDER CONSUMER, USA BY : XXXX XXXX without recourse. '' When specially indorsed, an instrument becomes payable to the identified person and may be negotiated only by the indorsement of that person. On XX/XX/XXXX outside the repass of my cousins funeral, I asked my fianc to contact Santander Consumer USA to find out who we should indorse the instrument ( consumer credit contract as defined in 16 Code of Federal Regulations 433.1 ( i ) ) to. A professional from Santander Consumer USA, ID number : XXXX at XXXX stated that I would be able to indorse the instrument at the XXXX Dealership. 

XXXX XXXX, a Business Office Associate looked plum red when he returned from the back office with a duplicate of the page I specially indorsed pursuant to Uniform Commercial Code 3-205 stating, " My manager said that we can not accept any alterations on the contract .... '' My fianc asked XXXX if he was giving legal advice on a consumer credit contract that is governed by Federal law? XXXX hesitated and said, " I can get my manager out here right now if you want? '' This made me feel nervous and intimidated, as if I were was in the wrong for specially indorsing an instrument. XXXX then followed that with, " We can cancel this entire thing, we will not give you the keys unless you re-sign this contract as instructed and without indorsement. XXXX had the keys in her hand the entire time, backing up XXXX. 

I left the lot feeling deflated, rather than elated about my purchase as a consumer who financed a sale ( 16 CFR 433.1 ( e ) ) from XXXX as a Seller ( 16 CFR 433.1 ( j ). My claim is that I was violated as a consumer under the Truth in Lending Act. I tried to state my claim in person on XX/XX/XXXX in the XXXX Dealership and was intimidated not to. Within my instrument 16 Code of Federal Regulations 433.2 is meant to preserve my claims and defenses and I have attached proof in support of my CLAIM. 

Knowing that I have been violated I rescinded the transaction by notifying XXXX in writing as prescribed in 12 CFR 1026.23 ( a ) ( 2 ) - Right of rescission. It reads, " To exercise the right to rescind, the consumer shall notify the creditor of the rescission by mail, telegram or other means of written communication. Notice is considered given when mailed, when filed for telegraphic transmission or, if sent by other means, when delivered to the creditor 's designated place of business. '' 15 USC 1635 ( f ) states, An obligors right of rescission shall expire three years after the date of consummation of the transaction or upon the sale of the property, whichever occurs first, notwithstanding the fact that the information and forms required under this section or any other disclosures required under this part have not been delivered to the obligor. I was not given the proper disclosures required so I was within three years from the time I sent XXXX notice by mail. 12 CFR 1026.23 ( a ) ( 2 ) says, Notice is considered given when mailed. 

I was not given a notice of my right to rescind or any forms that should accompany it to exercise my right. XXXX XXXX to Part XXXX Open-End Model Forms and Clauses, form XXXXXXXX XXXX Form ( For Each Transaction ) is from the CONSUMER FINANCIAL PROTECTION BUREAS website, so XXXX should have no excuse as to where these form are located. They have willfully hide this right from me. 

I have mailed in my notice of rescission via USPS Express Mail, tracking number : XXXX XXXX XXXX XXXX XXXX. XXXX responded by saying, " Your correspondence stated no legitimate claims against XXXX. '' " You signed a retail installment contract agreeing to its terms. '' I agree, and part of its terms is preserving my rights when I have claims and defenses when I am violated. 

I believe the the contract I signed was false and misleading contract and my instrument was taken without indorsement so that it can be immediately sold to Santander Consumer USA. 12 U.S. Code 1813 ( l ) explains that money or its equivalent, any such account or instrument must be regarded as evidencing the receipt of the equivalent of money when credited or issued in exchange for checks or drafts or for a promissory note upon which the person obtaining any such credit or instrument is primarily or secondarily liable.

The Uniform Commercial Code 1-201 ( 24 ) defined money as a medium of exchange currently authorized or adopted by a domestic or foreign government. The term includes a monetary unit of account established by an intergovernmental organization. So my Consumer Credit Contract was converted into money, which should have been provided to me in the form of a Purchase Money Loan under 16 CFR 433.1 ( d ) A cash advance which is received by a consumer iIN RETURN for a Finance Charge within the meaning of the Truth in Lending Act and Regulation Z, which is applied, in whole or substantial part, to a purchase of goods or services from a seller. 

The finance charge should have contained the sum of all charges as stated in 15 USC 1605 ( a ) - the amount of the finance charge in connection with any consumer credit transaction shall be determined as the sum of all charges. 

I have been frauded and my only remedy and protections lies with the Truth in Lending Act and the enforcement of the CFPB.

Company response to consumer: Closed with explanation