Consumer complaint received 2024-11-09 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with additional products or services purchased with the loan
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
XXXX XXXX Truist Bank, XXXX XXXX XXXX XXXX XXXX ( GAP Insurance ), and XXXX XXXX XXXX XXXX, VA ( XXXX XXXX  XXXX XXXX I am filing a complaint with the XXXX XXXX XXXX to address the predatory, misleading, and irresponsible practices I have encountered with Truist Bank , XXXXXXXX XXXX XXXX  ( GAP Insurance ), and XXXX XXXX of XXXX XXXX VA ( XXXX Lustine XXXX ). XXXX bank is the primary company in action on this complaint but to describe the context I am giving in detail what has happened the last several months. As a service member in the United States XXXX, I am no stranger to sacrifice and hard work, but the emotional toll, financial strain, and degradation of my credit score due to these companies ' negligence and mistreatment have been more than I can tolerate. The financial ruin and career consequences these companies have imposed on me due to their inefficiencies and deceptive practices are deeply concerning. 

XXXX. Background of the Incident and Initial Issues with Truist Bank On XX/XX/XXXX, I suffered a total loss of my XXXX XXXX XXXX XXXX due to an unexpected flood at a boat ramp, an event that already left me in a precarious financial and logistical position. In the aftermath, I submitted an insurance claim, and my primary insurer issued a payment of {$53000.00}, which Truist Bank promptly cashed on XX/XX/XXXX. However, this payment did not cover the entire balance of {$57000.00}, leaving a gap of {$3900.00}. I anticipated that my XXXX insurance with XXXX would cover this shortfall and allow me to move forward. 
What ensued was a nightmare of endless documentation requests and fruitless phone calls. Despite Truist Bank 's assurance that their Total Loss Department would process my documentation promptly, I was met with delay after delay in obtaining basic records, including my payment history and details of the insurance payout. For an entire month, I struggled to get the necessary paperwork from Truist Bank. I followed their complicated and time-consuming manual request process, calling and following up, only to be met with further delays and vague answers. This lack of cooperation prevented me from submitting a complete claim to XXXX and led directly to derogatory credit marks as I awaited the documentation needed for XXXX claim processing. Truists lack of efficiency in processing and releasing the documentation essential for my XXXX claim set the stage for months of frustration, ultimately damaging my credit score and compromising my financial security. 

XXXX. Issues with XXXX XXXX XXXX  ( GAP Insurance ) From the onset, dealing with Safe-Guard was an exercise in futility. Despite XXXX contractual obligation to cover the remaining balance on my totaled vehicle, their actionsor lack thereofseemed designed to delay and ultimately deny my claim. I initially attempted to upload documents through their website in early XXXX, only to find that their online system was malfunctioning. Each time I called their customer service department to report these technical issues, representatives were dismissive, unhelpful, and refused to escalate the problem or provide an alternative method of submission. Instead, I was repeatedly directed back to the same faulty website, creating a constant loop of frustration with no solutions. 
Over the course of XXXX and XXXX, I spent countless hours on the phone with XXXX. Most representatives displayed a level of apathy and unprofessionalism that was appalling, especially considering that I was seeking help for a serious financial matter. Each call ended with the same response : I needed to resubmit my documents online or send them via email, despite the fact that I had explained multiple times that their systems were not functioning. My claim only started progressing when I managed to reach XXXX specific employees, XXXX XXXX and XXXX XXXX, who went against standard procedure and allowed me to email documents directly to them in XXXX. These XXXX individuals offered a glimmer of hope, but prior to their intervention, XXXX customer service team had essentially stonewalled me, denying me the assistance I was due and further dragging out an already prolonged process. 
Ultimately, after finally submitting all required documentation, my claim was denied on the grounds of late, missed, or deferred payments. This denial was as shocking as it was unjust. Throughout the entirety of my loan, I had made every payment according to Truist Banks instructions, which were automated and did not reflect any issues or late fees. XXXX claimed that I had {$5900.00} in deferred payments that they could not cover, which felt entirely fabricated. Upon consulting with Truist Bank, their Total Loss Departments XXXX confirmed on XX/XX/XXXX, that there were no deferred payments on my account, directly contradicting XXXX assessment. This contradiction remains unaddressed, with XXXX refusing to explain their calculations or provide a way to appeal their decision, leaving me trapped in a financial bind through no fault of my own. 

XXXX. Oversights and Additional Discrepancies in XXXX 's Calculations Further exacerbating my frustration, I discovered that Safe-Guards payout calculation did not account for XXXX critical warranty refunds that had already been processed : An Extreme Warranty refund of {$4500.00}, processed on XX/XX/XXXX. 
A XXXX XXXX XXXX warranty valued at {$4200.00}, which had expired but was not included in Safe-Guards calculation. 
When I inquired about these overlooked refunds, XXXX response was dismissive and unprofessional. They told me to obtain the XXXX warranty contract and prove the mileage expiration myself, despite the fact that they had access to all relevant documentation. Instead of taking responsibility for their oversight, XXXX shifted the burden of proof onto me, a tactic that further delayed my claim and added to my emotional distress. Their lack of accountability and unwillingness to provide transparency in their calculations indicate a pattern of behavior designed to deny legitimate claims through bureaucratic roadblocks. 

XXXX. Impact on XXXX XXXX and Family As a dedicated service member in the U.S. XXXX, I am subject to high standards of financial accountability, and my career advancement depends heavily on maintaining a strong credit history. The delays, credit issues, and undue financial burden caused by Truist Bank and XXXX have placed my security clearanceand therefore my careerat risk. The derogatory marks on my credit report, which resulted from Truists documentation delays and XXXX unfounded denial, have compromised my standing in the XXXX and could jeopardize my eligibility for future advancement opportunities, including my pursuit of an XXXX XXXX. 
This situation has not only affected me but has also placed a significant strain on my family. The emotional distress, financial insecurity, and constant battles with these companies have taken a toll on our daily lives and mental well-being. Predatory practices like these are particularly harmful to military families, who often lack the resources or time to engage in prolonged disputes with financial institutions and insurance providers. I am determined to hold these companies accountable for the unnecessary hardship they have caused us, but I fear for other service members who may face similar predatory tactics without recourse. 

On XX/XX/XXXX, I spoke with representatives from both Truist and XXXX  regarding my GAP insurance claim : XXXX from Truist Total Loss and XXXX from Safeguard. During the call, XXXX from Truist attempted to pressure me into requesting a refund from XXXX. I clarified that I did not want to do this, as it would likely void any potential benefit from my GAP claim. 

When I spoke with XXXX from XXXX, he appeared to misinterpret or misrepresent the policy language to justify denying my claim. His explanations about the decision and financial breakdown of the negative XXXX benefit were inconsistent. For instance, when I asked if my XXXX late payments had been factored into the benefit calculation, he initially confirmed they had been, which would suggest a balance reduction of over {$12000.00} due to " late, missed, or deferred payments. '' However, when pressed to clarify, XXXX backtracked, saying the total for these late payments was actually {$1100.00}. 

Additionally, he stated that a warranty amount of {$4500.00}, which had already been refunded to the loan principal, was still being counted as a negative balance against the XXXX claim. Another warranty, which has since expired, was also excluded from the benefit calculation. This approach does not make sense to me because the {$4500.00} had already been applied to the loan principal, so it should not be considered in a way that reduces the XXXX benefit.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation