Consumer complaint received 2024-09-22 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem when making payments — 
Company: PNC Bank N.A.
State: TX

Complaint narrative:
Records show I initially received notification up updated payment coupon of loan, dated XX/XX/XXXX. Initial terms of the loan was acquired from XXXX XXXX, indicate there was 75 payments to be made in approximate amount of {$490.00} each month. 

However records actually show approximately 77 total payments made. 
Using coupons provided, the last payment was made on XX/XX/XXXX. 
I received a Notice of Default and Right to Cure, dated XX/XX/XXXX ( See Exhibit XXXX ). 

I immediately contacted PNC Bank customer service and spoke to several representatives regarding my dispute. I received a call back from customer supervisor, XXXX XXXX regarding my dispute on XX/XX/XXXX. 
Upon receiving an accounting detail record, I could see obvious discrepancies in how my overpayments were being applied and excessive late fees assessed ( See Exhibit XXXX ). Customers were also offered a deferral/forbearance during initial COVID period in XXXX of XXXX. 
All the while, I was still assessed late fees even while making payments. I show first discrepancy of {$600.00} payment made on XX/XX/XXXX being reversed. There are no records with my bank showing return payments. All the while, the accounting summary shows I was assessed and carried over late fees each month with no notification to me. 
A second instance shows a payment of {$500.00} received on XX/XX/XXXX ; yet there was no change in the running balance from the prior month of {$15000.00}. 
A third instance shows payment of {$500.00} on XX/XX/XXXX, yet the running balance was only reduced by {$5.00} ( to {$15000.00} ). 
Additional {$500.00} payments were made on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX respectively ; yet no change in the running balance showing {$15000.00}. 

On XX/XX/XXXX records show I made a double payment of {$1000.00} and which shows an overpayment and principal credit adjustment. Records show I continued to make overpayments each month, yet no explanation on how overpayments were being applied ( principal reduction or reduced future payment ). 
I subsequently attempted to call the customer supervisor and left messages, and was later told he was on two-week vacation. The representative then recommended I go into the branch location to speak to the branch manager. 

I then went in early XXXX, and wasted 1-2 hours sitting down a loan officer/assistant manager, who couldnt understand the discrepancies either when reviewing the accounting summary ; which showed a remaining balance of only {$79.00} verses the default letter balance of {$460.00}. 
Upon conference call with their corporate loan department, I was then told I had to write a formal dispute letter and the branch manager couldn't assist me after all. 

Even after I initiated a dispute by phone and at the branch, PNC has continued to misreport to all major credit bureaus, and which has negatively impacted my credit rating and ability to apply for credit. They have refused to respond to my dispute.

Company response to consumer: Closed with explanation