Consumer complaint received 2024-09-24
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Incorrect information on your report — Account information incorrect
Company: SANTANDER HOLDINGS USA, INC. (TX)

Dear XXXX XXXX XXXX, I am writing about my account ( XXXX XXXXXXXX ) and the ongoing discrepancy in how payments and credit reporting were handled between XX/XX/XXXX and XX/XX/XXXX. As a XXXX XXXX XXXX since XXXX, I believe that additional military benefits under the Servicemembers Civil Relief Act ( SCRA ) should have been applied. I also want to address several discrepancies in your reporting, potential violations of the Fair Credit Reporting Act ( FCRA ), and the incomplete documentation provided by XXXX in response to my previous complaints. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX, I invoke my rights under the XXXX, which should have provided me with protections including interest rate caps and stays on adverse reporting. My loan was opened after I joined the XXXX, and I expect that Santanders program, which offers benefits beyond the minimum SCRA requirements, would have been applied in this case, especially regarding interest rates and credit reporting. Despite this, I was subjected to adverse credit reporting and additional interest penalties during the period when I should have been protected. 
XXXX. Discrepancies in Payment Reporting and Payoff Amounts After reviewing the payment history provided by XXXX, comparing it to my XXXX credit report, and receiving additional documentation from XXXX XXXX XXXX XXXX ( FSCU ), I have identified the following discrepancies : XX/XX/XXXX Late Payment : XXXX XXXXXXXX claims the account was marked 30 days late, even though a {$260.00} payment was made on XX/XX/XXXX. This should have cleared the remaining balance, yet a late payment was still reported. 
o Discrepancy : Despite the full payoff by XXXX, the XX/XX/XXXX credit report still shows a late payment, which is an error and needs to be corrected. 
XX/XX/XXXX XXXX of {$15000.00} : o Attached is an official check from XXXX for {$15000.00}, paid to XXXX on XX/XX/XXXX. Despite this payment, which should have significantly reduced the outstanding balance, XXXX continued to report the account as delinquent until XX/XX/XXXX. 
o Discrepancy : This large payment should have satisfied the majority of the balance owed. However, XXXX reporting failed to reflect this payment accurately, and the loan continued to be reported as delinquent. 
Timing of Refinancing with XXXX : o My loan was refinanced with XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/XXXX. XXXX provided documentation, including an official check, showing that the loan was paid off. Despite this, Santander continued to report the account as delinquent under my name, resulting in inaccurate credit reporting.

o Discrepancy : Santanders continued reporting of the loan under my name after FSCU took over is unjustified and inaccurate.

Payoff Amount Discrepancy : o Upon reviewing my credit report and Santanders documentation, I found a significant discrepancy in the reported payoff amounts. XXXX is reporting a payoff of {$15000.00}, while Santanders documents reflect a payoff of {$15000.00}. Additionally, the {$260.00} balance added to the XXXX loan in XX/XX/XXXX to clear the remaining balance further conflicts with the amounts reported. 
o Discrepancy : These inconsistent payoff amounts raise concerns about whether Santander has provided accurate information to the credit bureaus and properly handled the loan payoff.

3. Missing Dates in Documentation In your response to my CFPB complaint, the documentation provided by Santander lacked critical dates, which raises serious concerns about the accuracy and authenticity of your records. Without specific dates, it is impossible to reconcile these records with my own documentation and credit reports, further complicating the resolution process.

4. Violations Under the Fair Credit Reporting Act ( FCRA ) Under the Fair Credit Reporting Act ( FCRA ), Santander has a legal obligation to : 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ) : Report accurate information to the credit bureaus, which has not been done in this situation.

15 U.S.C. 1681s-2 ( b ) : Investigate and correct disputed information, which has not been properly addressed in my case.

Given the discrepancies outlined above, including the inaccurate late payment reporting, failure to reflect the XX/XX/XXXX payment, and the inconsistency in the payoff amounts, Santander has failed to meet its legal obligations under FCRA. I request that Santander immediately investigate and correct the inaccurate reporting on my credit file.

5. Request for Documentation To further investigate these discrepancies and to compare records, I request that Santander provide the following documentation : 1. Complete Payment History : A detailed payment history, including exact dates and amounts applied for every payment from the inception of the loan until its closure. 
XXXX. Payoff and Balance Notices : Copies of all payoff communications and notices sent regarding the balance of the loan, including the dates they were sent to either me or XXXX. 
XXXX. Communication Records with XXXX : XXXX of any communication between Santander and XXXX about the refinancing and payoff of my loan, including dates. 
XXXX Credit Bureau Reporting Documentation : The exact dates when Santander reported my account as late in XX/XX/XXXX, as well as any records from the investigation into my previous disputes regarding this late payment. 
XXXX. Consequences of Continued Violations If XXXX fails to provide full validation of this debt, correct the inaccurate credit reporting, or respond appropriately to my dispute, I will be forced to pursue legal remedies under 5 U.S.C. 1692k of the Fair Debt Collection Practices Act ( FDCPA ) and the FCRA. Under these laws, I may seek actual damages, statutory damages of up to {$1000.00}, and attorneys fees. 
XXXX. Impact on XXXX XXXX XXXX and XXXX XXXX  This situation is exacerbating my XXXX and XXXX, which are part of my XXXX XXXXXXXX. While this debt situation is not directly affecting my XXXX XXXX XXXX, the ongoing collection efforts, and inaccurate reporting are adding to my emotional stress. Furthermore, this issue is negatively impacting my ability to secure a XXXX XXXX  I kindly request a swift resolution to prevent further financial and emotional distress. 
Final Request Please provide the requested documentation and correct all inaccuracies within 30 days. I expect a timely and complete response, as this matter is also under review by the Consumer Financial Protection Bureau ( CFPB ). 
Thank you for your attention to this matter.