Consumer complaint received 2024-05-28
Product: Checking or savings account — Other banking product or service
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: FIFTH THIRD FINANCIAL CORPORATION (OH)

I received a registered letter from an Attorney dated XX/XX/XXXX, ( see item A ). Please keep in mind I usually only get magazines and my Fifth Third statements to the Business address, and since our loan was on auto pay I usually picked up the mail every 1 to 2 months, ( see item XXXX ). I immediately called the number and asked for the ( Name Removed ) I was told to ask for and asked her what this was all about. All she said was that I HAD to speak with another person ( Name Removed ). I called asked him what this was all about and he said it was my Commercial loan and that the Commercial Loan Dept. decided to demand payment on this loan. I asked what loan, he just said it was my commercial loan for {$10000.00}. I asked if it was the one that they only take the interest payment of {$85.00} per month and he said no not that one. I told him that we had no other loans and I was very confused and that we needed more information, but he did not provide anything further. 

( Name Removed ) was very rude, condescending, would not listen or answer any questions. I started to feel like this was a SCAM since no real banker would speak to a customer that way. ( Name Removed ) went on to say not to call him via phone, best way contact him would be by email. I immediately called my XXXX branch to verify his status with XXXX. I was passed from person to person no one could verify who he was. I was transferred to commercial loan dept and spoke with a nice woman, ( Name Removed ) she said she would look into it and let me know. I did not get a response back from her so a few days later I called her back and was told she was able to locate this man and that he was a real VP of XXXX in Florida Commercial Loan Dept. This woman ( Name Removed ) also emailed me a copy of what she found regarding the loan, ( see item B ). 

I, again, asked ( Name Removed ) for more information and a copy of the loan. In the beginning ( Name Removed ) stated the loan was for {$10000.00}. ( Name Removed ) finally sent us a copy of the loan agreement, ( see item C ) and it WAS the loan we thought it was. We tried to explain that we had never been late or missed a payment so why was this happening? All he would say is ( Name Removed, can I expect payoff this week? ( see item D ). Unfortunately, I was shocked to see he wanted this paid this week. After receiving that request I sat down and tried to figure out about what I could comfortably pay. ( see item XXXX ) which says : Just a quick email to let you know, I have assessed my finances and we are able to pay {$150.00} to {$200.00} per month with no issues. Please let us, if acceptable, know how we can get this started. You are welcome to check our accounts to verify our income and payments. As you can see my property tax went from {$500.00} + to now over {$800.00} a month. 

( Name Removed ) came back with ( see item F ). which says, ( Name Removed ), that's not going to work. We need paid with next 60 days at the most I can give you. The companies out of business. This is not a consumer debt, its commercial and there are rules and guidelines we have to follow especially when the company is out of business. You need to talk to family and friends finance companies etc. Let me know y XX/XX/XXXX. Thanks ( see item G ) for my response, which says Unfortunately, as I stated previously, I have no funds available the only way possible to pay this off is to make payments. Fifth Third is and has been my financial Institution. Production Turning, being closed since Covid still made the payments on the loan and when the payments stopped I assumed it was paid off. I need to get more details regarding that loan.

After this message from ( Name Removed ), I started to feel he was catching on to what I was saying. ( see item H ) which says Can you pay a couple thousand down and pay roughly {$600.00} over 12 months?

At this point we were going in 10 different directions trying to do what he was telling us to do trying to find out WHY this was happening. Then I received out of office responses saying he would be out of the office but would be checking his emails. ( see item I ). 

Now here is the kicker, ( Name Removed ) asked us what we could pay, since I am on limited income I told him about {$200.00} per month, he came back and said that isn't going to work and he could allow up to 60 day to pay it off and said we should contact friends, family and our financial institution for help. Well XXXX is our financial institution, but that will probably be changing very soon. WHAT, he doesn't have a very long attention span. He also said later that we could pay {$2000.00} down and then {$600.00} per month for a year. Which would equal {$9200.00}. We figured we could some how make that happen. But still wanting to know WHY. Then ( Name Removed ) completely ruined us!!! Caused us sever embarrassment. On XX/XX/XXXX I opened my personal checking account online to see that over {$7000.00} had been transferred out of my personal checking account. I am XXXX years old and really thought I was headed to the hospital. We have most of our bills on auto pay because we really trusted XXXX. They are all being kicked back to my creditors, my electric, cell phone, gas, XXXX XXXX XXXX and my loyal, wonderful bank is charging me overdrafts and late fees and when the money ran out of my checking they emptied my savings All of this happened so fast, changed constantly, and I didn't know what was going on then to loose over {$9000.00} on a loan that was not in default nor did it mature until XXXX of XXXX. But it just gets better from there. We had about {$1800.00} left in ( Name Removed ) business account and guess what poof it was taken also. 


This is NO WAY to show loyalty to your loyal customers. Now, you have caused me to look like a loser to my monthly payees. I am totally embarrassed and humiliated. Why did this happen Here is something else that XXXX did not do their job. On this loan when the first payment was mad via auto pay, I noticed the payment was only {$85.00} and went back to the branch spoke with XXXX, manager at the time at the ( Name Removed ) Branch. I explained that we would never get it paid off at that rate and was told she would take care of it I asked for an additional {$200.00} to come out. XXXX said ok. Next month noticed another {$80.00} was taken out nothing more. So I called and explained to the girl on the phone what had happened she said ( Name Removed ) no longer works there and she couldn't do it because it is a commercial loan and referred me to ( Name Removed ) the new manager. Spoke with him said he would check into it and get back to me. Next month same thing, I let it go a few months no change called again, was told ( Name Removed ) no longer worked there and I needed to speak to ( Name Removed ). what a mess. Oh and ( Name Removed ) was only there a very short time too. 


I was not allowed to transfer money into it because it had to be auto paid. I tried several times to add money to this loan ... ..no one would help. So that is why it is such a low amount. 

In summarizing this experience : ( Name Removed ), I do not know what to do! I am totally shocked over all of this. I am reaching out to you to find out why and how this came about and how it can be fixed. I certainly do not know how I can ever trust Fifth Third Bank again. 

This is what has happened to my bank accounts ; I had {$7000.00} taken. Once that was emptied, I see my savings account was transferred out to pay for overdrafts. WHAT that was {$910.00} and wasn't my doing. So far lost {$7900.00}. Someone must have noticed there was money in my XXXX account {$1700.00} and decided to grab that too. They did however credit back some interest and I have {$32.00} left. Making the total taken from me me {$9600.00}. So far. 

Some of my questions are : How was I given 60 days and then 13 days later I was broke? 
I was even offered {$2000.00} down and {$600.00} a month for over 12 months??? 
Don't your offices work together? One says one thing and the other does something completely different. Someone needs a lot more training!! 
Why was I not notified of the pending disaster? 
Why was a lawyer involved? 
Why did a man from Florida, ( Name Removed ) deal with my account? 
Why was my local branch not aware of this? 

FACTS : Loan was on auto pay Options offered by ( Name Removed ) kept changing.

Loan not in default Never a late payment! 
Loan to be paid off by XX/XX/XXXX I appreciate the time you have spent on the above issues. I feel I am one of your more loyal customers and look forward to your response regarding this problem. 

UPDATE : After I sent this information to the President of the Bank, I received a notice that the money would be put back in my account, which it was. BUT IT WOULD BE FROZEN until this is worked out ... ... NOW WHAT?