Consumer complaint received 2025-11-14 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Voluntary repossession
Company: SANTANDER HOLDINGS USA, INC.
State: TX

Complaint narrative:
This is regarding CFPB COMPLAINT # XXXX Concerning Santander XXXX  USA I am writing in response to Santander Consumer XXXX recent response in the above captioned closed case. Santander asserted that they only took possession of the vehicle in XX/XX/XXXX, despite the fact that the vehicle had been voluntarily surrendered since XX/XX/XXXX, exactly a week after i picked it up on XX/XX/XXXX. I have complete communications confirming that the vehicle was voluntarily surrendered to the dealership at that time. Moreover, I filed a complaint with the Attorney Generals Office in XXXX, in which I explicitly noted that the vehicle had been left with the dealer. It is therefore inaccurate and misleading to suggest that Santander only recently took possession. The 28-month delay between the return of the vehicle and Santanders claimed repossession date has directly and unfairly caused depreciation of the vehicles value a loss for which I can not be held responsible. Under Uniform Commercial Code 9-610, a secured party must dispose of collateral in a commercially reasonable manner and within a reasonable time after repossession or surrender. Any unreasonable delay in sale or failure to mitigate depreciation can render the disposition commercially unreasonable. Consequently, the deficiency balance should be reduced by the value the vehicle would reasonably have had had it been sold at the time of surrender ( XX/XX/XXXX ), not at the depreciated value from a sale two years later. Furthermore, under the Fair Debt Collection Practices Act ( FDCPA, 15 U.S.C. 1692e & 1692f ), creditors and debt collectors are prohibited from using false, deceptive, or unfair practices in the collection of any debt including misrepresenting the amount owed or failing to credit the consumer for actions ( such as timely surrender ) that affect the balance. Given these facts and laws, I respectfully request that Santander : Acknowledge the correct date of vehicle surrender ( XX/XX/XXXX ), supported by my records and prior Attorney General complaint. Adjust any alleged deficiency balance to reflect the commercially reasonable value of the vehicle as of that date, consistent with UCC 9-610 and consumer protection standards. Provide a full accounting of all dates of possession, storage, and sale activity relating to the vehicle. Adjust the current balance with all credit bureaux to reflect the proceeds from the car sale. It is not fair for Santander to have the car and report also the full value of the car plus interest as my current balance. My account needs to mention the DOFD.

Another matter is that not only that Santander resumed increasing the balance with credit bureaus, they have created a duplicate account, making 2 different entries of this debt on my credit reports.

Also, the account history status codes used are misleading and hurting my credit further. L is for charge off and J for voluntarily surrendered. My credit report shows nowhere the J code and there no comment of voluntary surrender.

I look forward to a prompt and fair resolution of this matter.

Company response to consumer: Closed with explanation