Consumer complaint received 2024-07-02
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with fees charged
Company: Global Lending Services LLC (IL)

I am extremely disappointed in Global lending Services. I have received by far the worse customer service ever and by supervisors. On XX/XX/XXXX while speaking with a supervisor name XXXX ( who states he is the only XXXX in the building ) I asked for a manager and he stated Managers do not take calls ; I am the highest you can go when I repeated this to him, he changed his statement but still denied my upper management. I have been calling in since XX/XX/XXXX in reference of my XXXX XXXX XXXX. I have been asking why I have an additional XXXX added to my loan. 
In XX/XX/XXXX, I was told to look at an itemized list and find all the zero-interest balance as those zeros are because no interest was taken out of those payments, yet I was charged interested on those payments. In XX/XX/XXXX, I was told that the because I put 8 payments ( over the time of my loan ) at the end of my loan that I would be extended to XX/XX/XXXX and I would have to pay XXXX on my maturity date. On XX/XX/XXXX, I was told by one supervisor that the pay off is XXXX because I was late my entire length of my loan. I asked her was I charged interest on top of interest and she said no! She sent over the principal and interest statement alone with the loan amortization schedule. When asking more in-depth questions she placed me on hold for about 10 minutes then the phone hung up. 
On XX/XX/XXXX is when I spoke with XXXX. He constantly stated I should look up a simple interest loan on XXXX to understand my loan. I am well aware of a simple interest loan. The more XXXX spoke the more it seems as if I am being charged interest on top of interest which is a compound interest loan which I do not have. I advised that I have already paid XXXX of the XXXX agreement. Late fees and other charges are XXXX. The Loan Amortization Schedule says as of XXXX principal balance is XXXX with interest amount of XXXX but a pay off of XXXX? 
There are a total of XXXX payments with XXXX for interest balance but interest was calculated. There are XXXX payments with XXXX for principal but was calculated. If I have already paid XXXX of which XXXX was paid in interest ( supposed to been XXXX ) and the remaining balance went towards principal? If that is the case then that means I was charged interest on top of interest leaving my principal not being paid and a balance of XXXX which is still less than XXXX. Everyone wants to say the balance is correct but no one can actually explain how the balance is correct if I was not charged interest on top of interest. 
After going over every payment, every interest, every principal line I should owe roughly XXXX. That is XXXX payments of XXXX ( which brings me to XXXX payments in the amount of XXXX ). I have made a total of XXXX payments to get to the amount of XXXX being paid to Global lending services. 
Simple interest is the interest charge on borrowing that's calculated using an original principal amount only and an interest rate that never changes. 
Compounding interest is where borrowers end up paying interest on principal and interest that grows over multiple payment periods. 
Sincerely An Unsatisfied customer.