Consumer complaint received 2020-10-30
Company: Santander Consumer USA Holdings Inc.
State: MI
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
During XX/XX/XXXX I reached out to the finance company of my vehicle Santander Consumer USA on XX/XX/XXXX. At that time I was 22 days late on a my XXXX Payment and had just got notice that I would be laid off from my job due to the pandemic. I reached out to Santander to find out my payment options and to request an extension on my payments. At that time I was informed that I was granted an extension on 2 payments and that I would need to sign the documentation that was emailed to me and that no further payments would be required until XX/XX/XXXX. I signed the documents on XX/XX/XXXX and continued to make my payments. I later find out that I was reported late to the credit reporting bureau for a missed payment for the time period in which I was supposed to be covered for the payment extension. At no point in the conversation was did the representative express that I would need to make a payment to prevent the late payment from being reported to the credit reporting agency. This has in turn harmed me and prevented me from being able to obtain housing as I was in the process of purchasing a home. I have reached out to Santander Bank on XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX, XXXX. I spoke with XXXX and even though we have a contract stating that no payment is due during that time they have refused to remove the negative reporting to the credit reporting agencies. The practice of stating that you are granting a payment extension and then reporting it to the credit reporting agencies is deceitful. I have notified my lender of the error and requested that they remove the late reporting payment but have not received any resolve in this issue. The fact that they agreed to halt payments and enter into an agreement with me to extend my payments and there fore not require that any payment would be due until XX/XX/XXXX but still report a payment as being late for XXXX. 

The CARES Acts credit reporting protections continue to apply to the time period covered by an accommodation after the accommodation ends. If payments were not required or the consumer met the accommodations payment requirements, a furnisher can not report a consumer who was reported as current pursuant to the CARES Act as delinquent based on the time period covered by the accommodation after the accommodation ends. Also, a furnisher can not advance a consumers delinquency that was maintained pursuant to the CARES Act based on the time period covered by the accommodation after the accommodation ends. 

An inaccurate credit report can have a huge impact on consumers ability to make purchases, be hired and more, said XXXX XXXX, Director of the FTCs Bureau of Consumer Protection. This case makes it clear that businesses must take the proper steps to make sure the information they provide to credit bureaus is accurate. 

Santander entered into a contract with me the consumer to provide an extension and there by extend the date that payments would need to be made during my phone call to the company on XX/XX/XXXX. I signed into my Santander account on XX/XX/XXXX and it reflected that no payment was due until XX/XX/XXXX. All of the practices that Santander has under their extension program are misleading and harmful to their customers financial future.

Company response to consumer: Closed with explanation