Consumer complaint received 2022-08-18
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: TD BANK US HOLDING COMPANY (NY)

We bought our car after the lease from XXXX, XXXX financed it through TD bank, on XX/XX/XXXX. We made the first few payments but when we reviewed the contract XXXX overcharged us by XXXX and we filed a complaint with the NY attorney general who found we were correct so they had to give it back to us. XXXX made a payment to our loan in the amount stated in XXXX. When I logged into the TD website to make my XXXX payment it showed the XXXX payment was made and it said no payment due until XX/XX/XXXX and the payment going forwrd would be XXXX mount from XXXX we were paying. I checked again a week later and it still stated no payment due which we were happy with. In XXXX we received a statement saying we missed XXXX payment with a late fee and XXXX was due. My husband called on XX/XX/XXXX and the woman he spoke to acknowledged that it did say in XXXX that no payment was due until XX/XX/XXXX but that the payment should have been applied to the principal instead of future payments and that the payment and end of loan date would be the same/ I said that was incorrect because the monthly payment was based on the original loan amount of XXXX but now the loan amount remaining was XXXX so if we keep paying XXXX until the end date of XX/XX/XXXX we would be paying over XXXX on a XXXX loan. Her answer was that when we reach that amount it will just drop off. I asked for the end of loan date to be updated for transparency but she said they don't do that. We asked to speak to a supervisor and they gave us XXXX at XXXX pm, she was very nice and I asked if the bulk payment could be applied as monthly payments going forward instead of towards the principal. She said sure and told me she applied it and it would take a few days to show on our account. On XX/XX/XXXX I looked at our account and nothing had changed and it showed we were now delinquent for XXXX as well as XXXX so I called again at XXXX and spoke to XXXX who told me that the payment could not be applied as monthly payments and that XXXX wasn't a supervisor. When I said they were affecting my husbands good credit all she kept saying was " Sorry ''. I hung up and called another number for TD and spoke to XXXX at XXXX and she said that a request was put in to apply the money as payments but things were delayed at TD and I shoud check back next week. On XXXX my husband spoke to XXXX XXXX at XXXX and he said we should just pay it while we were waiting for the answer. On XXXX I spoke to XXXX who said that they decided they would use the payment for XXXX and XXXX 's payments but then we would have to start making the payments monthly from XXXX forward. On XX/XX/XXXX my husband spoke to XXXX who said she saw XXXX note but they couldn't apply it for XXXX or waive the late fee and then when he asked for a supervisor he got XXXX XXXX who said she didn't see XXXX 's notes and we have to pay XXXX. At no point were we ever contacts by TD about the fact that they received a Payment on our behalf from XXXX, how it was being applied or regarding any of our inquiries. And they ridiculous inconsistent answers and incompetent way this was handled put us in collections and affected my husbands credit score. We don't understand how an established bank handles their customers like this, its actual a disgrace.