Consumer complaint received 2020-01-03
Company: NISSAN MOTOR ACCEPTANCE COMPANY LLC
State: MA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
In XX/XX/XXXX I decided to refinance my car loan for a new vehicle that I had purchased in XX/XX/XXXX. The original financing was through NMAC ( Nissan Motor Acceptance Corp. ) I refinanced online through XXXX  XXXX. It appeared that all had gone well with XXXX XXXX notifying me that my loan was approved and the payoff was sent to NMAC. I paid my first payment with XXXX XXXX In XXXX. Prior to making that payment, I happened to check my NMAC account online to find that the my loan was showing that it was still active, and there was a large payment applied to the loan on XX/XX/XXXX, but it was not the full payoff amount. Further, it showed my monthly payment was increased from {$510.00} to over {$600.00} and the a payment was not due until the year XXXX! I knew something was wrong. I contacted NMAC and was told that XXXX XXXX did not send the correct payoff amount. The person also told me that they were unable to see where this partial payment came from which was unusual and he said that they would open an investigation on the account. He also said that if I could contact XXXX XXXX and try to get a copy of the payoff amount check and forward it to NMAC I then contacted XXXX  XXXX, where I was assured that the proper payoff amount was sent and to give NMAC some time to complete the investigation and if it didn't resolve to call back. Well it didn't resolve, NMAC insists XXXX XXXX sent the wrong amount. So I provided NMAC with the USPS tracking number of the check that XXXX  XXXX sent and that shows it was received on XX/XX/XXXX. My NMAC account showed that a large payment of XXXX was made on XX/XX/XXXX so that makes no sense since the check didn't arrive until the following day. several phone calls between both lenders for the month of XXXX yielded no results. I have been the middle man in a clash of the titans here where I have no control nor access to any of the data that can prove anything. I finally got XXXX  XXXX to initiate a 3 way conference call with NMAC in early XXXX, where XXXX  XXXX stated that they would fax a copy of the check to NMAC to prove the full payoff was sent. NMAC stated it would take up to 21 days for ANOTHER investigation to be completed. So I called NMAC 21 days later to find again no progress, still saying it's XXXX XXXX 's fault. Back to XXXX XXXX, I now have a point of contact there, her name is XXXX. She contacted me right after XXXX, to update me that on there end it shows that NMAC never deposited the check even though someone signed for it, so NMAC lost it. The partial payment on my account was another error on NMAC and that they were going to remove that payment and that they working on getting the payoff finalized once again. 

Here 's the problem. I technically have 2 open loans on the same vehicle, I had been paying XXXX  XXXX for 3 months and on NMACs end it originally showed that I didn't have a payment due until XXXX. Now that that erroneous payment has been removed it now shows me 3 payments behind NMAC and when I try to call NMAC to speak with someone handling my case about the refinance fiasco I get dumped to collections automatically and all the want for me is to make payments. I am a XXXX, retired XXXX  injured in the the line of duty and I live on a fixed income and there is no way I can make 2 car payments on the same vehicle until these people figure all this out. 

Now I'm concerned that NMAC will be reporting these late payments to my credit report and I feel that this is unjust. They lost the payoff check, from what little info I'm provided it appears NMAC is at fault, yet I'm in the middle being torn apart.

In my soon to be XXXX  years on this planet, this has to be the most incompetence I've seen from a financial institution. XXXX XXXX I'm not happy with as well as they really take no responsibility to confirming that the institution being paid off has actually received, credited the proper payoff, and closed out the old loan before XXXX XXXX sends the consumer the refinance completion along with a first statement to be paid on the new loan I want this resolved. I want NMAC to correct any info that they plan on submitting to the credit bureaus, I'd like to just pay my XXXX  XXXX loan and get on with my life. I'm calling XXXX  XXXX today and I'm hoping that they expedited the second payoff to NMAC

Company response to consumer: Closed with explanation