Consumer complaint received 2016-11-29
Company: FIRST HORIZON BANK - WEST CONGRESS STREET BRANCH
State: LA
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Managing the loan or lease

Complaint:
My wife and I have had a car loan with IBERIABANK for over three years now for a car she drives and are extremely upset with how they have handled payments. Our first issue came about when we first opened the account with IBERIABANK and realized there was no way to set up an online account to conveniently submit automatic payments like we do with all of our other bills, loans, credit cards, etc. As such, my wife assumed she had no other choice but to drive to IBERIABANK once a month and hand them a physical check. This was rather tedious and some months she would forget and would be a day or two late, resulting in a late fee being charged. So after about two years of frequent late fees, I encouraged her to call customer service to see if they could set up automatic payments over the phone. They said they could, but each time she called to set it up, only one payment would go through, even though the transaction appeared on our statement as " AUTO TRANSFER CREDIT ( ACH ) '' ( see attached statement beginning at XXXX/XXXX/16 ). In other words, customer service was putting a transaction through at the time of the call but not setting up re-occurring payments for us even though they were telling my wife they were. This happened on several occasions ( see attached account statement ) and resulted in XXXX derogatory remarks on our credit reports from IBERIABANK ( 30 days or more delinquent on payments ). I recently called IBERIABANK when I saw this about a month ago to let them know that we had been told automatic payments had been set up and therefore were not aware those payments were that late. Two different customer service agents on XXXX different calls told me they were transferring me to the loan department and then subsequently dropped my call. I was calling from my office phone ( a landline ) so I know it was not a product of bad mobile service. I continued calling and was finally able to get transferred to the Special Assets Department and spoke with XXXX XXXX who informed me that not only did those customer service agents attempt to connect me to the wrong department ( and drop my call ), but that customer service agents can not set up automatic payments. I asked him if we could correct the delinquent notices on our credit report since there was clearly an issue with their customer service department, but he only defended customer service by saying that we should have followed up to make sure the automatic payments had been set up. I asked him if I could speak to his superior and he told me he was out but that I would receive a call later from him which I never did. He also emailed me a form to fill out so that we could finally set up automatic payments. I filled it out and sent it back a few days later with a voided check but have not since heard back from him. Three weeks have now gone by and still no word from XXXX. The first automatic payment was supposed to go through on XXXX/XXXX/16, but nothing has shown up on my bank statement from IBERIABANK. I do n't know what else to do at this point. We 've never had any issues like this with any of our other monthly payments. And now it has affected our credit scores significantly and I do n't feel like it is our fault.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief