Consumer complaint received 2021-01-14
Product: Credit card or prepaid card — General-purpose credit card or charge card
Issue: Fees or interest — Problem with fees
Company: KEYCORP (OH)

My account was past due with Key Bank. As COVID-19 hit, I called onXX/XX/XXXX and made a payment of {$72.00} and was told to call back for a work-out option as my account was about to go to collections. I was placed on a re-age/work-out option and fore-bearance plan with no payments for 3 months ( XXXX, XXXX, XX/XX/XXXX ) on XX/XX/XXXX. The re-age and fore-bearance plan was confirmed on XX/XX/XXXX. The 3 months goes by, I call to make a payment ... and for 3 more months ( XXXX, XXXX, XXXX ) am told I do not have a payment due and I will fall off the plan if I make a payment. In the mean time, I have 3 more payments ( total of 6, XXXX  ) added back to my balance due, PLUS INTEREST when I was ready to pay them and resume making payments. This turned into a whole mess and for 4 months ( XXXX XXXX XXXX was given run around and never given a resolution with Key bank. I was placed on 2 different payment plans to close the credit card and pay back the debt and was never given any information, disclosures, or terms and agreements that KEY BANK stated they would sent out. No communication was sent to me. 

The First payment plan was set up inXX/XX/ with the loss mitigation department. I was told I would receive a reduced interest rate of around 6 % and pay around {$70.00} a month until it was paid off. I agreed to the terms and never received any information on this plan in writing. I even agreed to make a payment on the day I spoke with them to begin this payment plan and agreement. I am still trying to locate the day I spoke to them and the payment amount. 

I was never given any info on how and where to pay the plan, and by the time I called in XXXX the payment was " past due '' and they had removed me from the payment plan. At this time, I spoke to a gentleman Named XXXX and I expressed the awful experiences and issue I have had with KEY BANK. He stated he would work with his boss to come to a resolution for me. After multiple attempts on my end to reach him and Key Bank, I was never given a resolution. 

OnXX/XX/, I finally was able to reach XXXX XXXX and they agreed to place me on another payment Plan, This time at 0 % interest for 26 Months. The monthly payment is to be set at {$77.00}, with payments beginning on XX/XX/XXXX I called in on XXXX and spoke with the same XXXX that I had spoken to in XXXX who processed a {$100.00} payment for me from my checking account. As I look at my account today, XX/XX/XXXX, I have been assesed a {$39.00} late fee, along with a {$39.00} late fee for XXXX, and XX/XX/XXXX with no explanation. 

I called in to Key Bank today, XX/XX/XXXX and spoke with a gentleman who was not able to explain these charges to me. I am now being told that the late payments will continue to accrue since I am not making payments normally. He informed me that I am on a " trial period '' for this plan and the terms will change after my 3rd successful payment. None of this was discussed or agreed upon ... {$39.00} fees, changes to the agreement after 3 months. The letter I received also does not explain terms, conditions, balances due or anything related to the payment plan. 

I am not sure where the payments I have made have been applied. I am not sure how the account will be paid off in the agreed 26 months if I am being charged late fees and if the agreement changes. There needs to be a resolution from Key Bank and it is not being provided.