Consumer complaint received 2026-07-06 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Struggling to pay your loan — Denied request to lower payments
Company: TRUIST FINANCIAL CORPORATION
State: OH

Complaint narrative:
I am filing an official regulatory complaint against Regional Acceptance Corporation ( RAC ) and its parent institution, Truist Bank, for predatory account manipulation, bad-faith servicing, and deceptive practices. I am a XXXX military veteran and current drilling XXXX whose sole household income is guaranteed VA XXXX compensation. I originally applied for this loan at a dealership in California using exclusively my official VA award letter as proof of income. Because I had been off work on a medical leave of absence for nearly a year, my historical pay stubs were completely irrelevant due to their age. RAC underwriters explicitly approved this vehicle loan contract ( XXXX XXXX XXXX ; VIN : XXXX ) with the clear, documented knowledge that the debt was being underwritten solely by tax-free, federally protected veteran compensation .My contract requires a total of XXXX monthly payments to qualify for restructure, and I have successfully completed XXXX payments to date ( representing roughly XXXX % of the contractual term ). The original loan amount was {$46000.00} at a XXXX % APR. Despite making XXXX payments in good faith, the servicer has processed XXXX loan extensions. Rather than providing meaningful hardship relief, these extensions allowed interest to compound continuously, inflating my current active balance to {$49000.00} on a truck with an actual market value of roughly {$15000.00}. Furthermore, the account carries an unapplied interest backlog of {$4000.00}. Under these terms, my next XXXX to XXXX consecutive monthly payments of {$970.00} would go entirely to backlogged interest before a single dollar touches the principal, forcing severe negative amortization. The predatory nature of this account management is further highlighted by RAC 's handling of my military service protections. I previously served a XXXX period under XXXX XXXX orders as a XXXX, during which my RAC account was placed under Active SCRA protection, and my interest rate was legally dropped super low. However, the exact day my orders expired, RAC immediately restored the predatory XXXX % APR, accelerating the negative amortization on my account. I proactively contacted RACs Specialized Services department on XX/XX/XXXX, to request a Loss Mitigation Loan Modification or a principal forbearance balloon. The supervisor engaged in direct harassment, explicitly stating on a recorded line : 'Well sir, why don't you get a job to help pay this'openly mocking my federally protected XXXX veteran status and the exact medical-leave context under which they approved this loan. The supervisor then claimed that internal policy dictates XXXX % of the loan must be paid off to do a restructure. ' Enforcing an impossible XXXX % payment requirement while their own XXXX extensions ensure the balance inflates past the original principal is a deceptive practice designed to lock consumers into permanent debt. Finally, the representative coerced a post-dated debit card agreement for XX/XX/XXXX as a mandatory condition to process a permanent due date change, administratively masking the contract delinquency while adding more daily interest to the {$4000.00} hole. Because my income consists entirely of VA compensation, I am completely judgment-proof under federal law ( 38 U.S. Code 5301 ). I am actively revoking all debit card pre-authorizations under Regulation E. I demand that XXXX XXXX XXXX XXXX immediately intervene, halt standard collection activity, audit this entire XXXX history alongside my SCRA records, and offer a permanent, sustainable modification package. The solution offered by the supervisor was to contact XXXX of the XXXX partner banks of RAC to see if XXXX of them could refinance my loan. This is not a solution it is a band aide to get me off of the phone.

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