Consumer complaint received 2017-10-17
Company: AMERICAN HONDA FINANCE CORP
State: CT
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
Honda Financial has never repossessed this vehicle. Honda refuses to accept monogram payments deliberately delaying the payments to further add late fees. In addition I asked to have the fees reversed and they told me that they reversed the fee. Now I look and review my account and see that not only did they add new repossession fees new late fees and now they also misapplied my payments and re instated a repossession fee that they told me on recorded line that they had reversed. 

Please help. They are charging more than 50 % per month in late fees and repossession fees without accepting cash payments made through XXXX  services in order to then add more late fees. It is usury and criminal. Please class action for all the people who are trying to bring their accounts up to date and are then lied to about how payments are applied to the vehicle loans. Further the tactic of delaying the application of the payments made so they can charge more fees. Finally I believe Honda Financial is silent owner for the debt repossession company they claim is a third party company but it is partly owned by Honda Financial. In other words they make no attempt to repossess the vehicle they simply send letters and place usury charges onto the vehicle loan accounts. 

The monthly car loan is XXXX. The fees can total nearly {$550.00} in the same month by the tactic of refusing to accept the payments onto the account. I still own the vehicle and it is currently paid. I did not agree to the fees and they now refused to apply my payments to the principal and interest of my car loan and only apply the payments to the fees. They are also simply going into the full loan amount due and misapplying how the payments sent in are to be applied to the car loan. 
Stop these guys. There is definitely criminal stuff going on with Honda Financial. 

XXXX/XXXX/XXXX Repossession Fee Assessed {$50.00} XXXX/XXXX/XXXX Repossession Fee Assessed {$350.00} XXXX/XXXX/XXXX Repossession Fee Assessed {$50.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$3100.00} Interest {$1400.00} Non-Sufficient Funds Fee {$20.00} Late Payment Fee {$30.00} Principal {$1600.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Non-Sufficient Funds Fee Assessed {$20.00} XXXX/XXXX/XXXX Reversal of Payment Made XXXX/XXXX/XXXX {$870.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$870.00} XXXXnterest {$340.00} Principal {$520.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$870.00} Interest {$260.00} Principal {$600.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$870.00} Interest {$420.00} Principal {$440.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$860.00} Interest {$390.00} Principal {$460.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$500.00} Interest {$170.00} Principal {$330.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$370.00} Interest {$170.00} Principal {$200.00} XXXX/XXXX/XXXX Reversal of Payment Made XXXX/XXXX/XXXX {$370.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$370.00} Repossession Fee {$370.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$2700.00} Interest {$800.00} Repossession Fee {$100.00} Non-Sufficient Funds Fee {$20.00} Late Payment Fee {$10.00} Principal {$1800.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Late Payment Fee Waived {$10.00} XXXX/XXXX/XXXX Non-Sufficient Funds Fee Assessed {$20.00} XXXX/XXXX/XXXX Reversal of Payment Made XXXX/XXXX/XXXX {$870.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$870.00} Interest {$410.00} Principal {$450.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Repossession Fee Assessed {$50.00} XXXX/XXXX/XXXX Repossession Fee Reversal {$420.00} XXXX/XXXX/XXXX Repossession Fee Assessed {$420.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$2500.00} Interest {$1200.00} Late Payment Fee {$30.00} Principal {$1200.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Repossession Fee Assessed {$50.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$2700.00} Interest {$1200.00} Late Payment Fee {$40.00} Principal {$1400.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$870.00} Interest {$870.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$1700.00} Interest {$450.00} Late Payment Fee {$10.00} Principal {$1200.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$1800.00} Interest {$870.00} Non-Sufficient Funds Fee {$20.00} Late Payment Fee {$60.00} Principal {$870.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Late Payment Fee Assessed {$10.00} XXXX/XXXX/XXXX Payment Received - Thank You! {$870.00} Interest {$480.00} Principal {$390.00}

Company response to consumer: Closed with explanation