Consumer complaint received 2025-07-31 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: SANTANDER HOLDINGS USA, INC.
State: IL

Complaint narrative:
I am filing a complaint regarding an auto loan account with Santander XXXX XXXX ( Account No. [ Insert if available ] ) that I held jointly with XXXX XXXX. This account is currently being reported on my credit report as : Charged off in the amount of {$16000.00} Past due balance of {$5200.00} Last updated in XX/XX/year> This vehicle was reported stolen. XXXX XXXX filed a police report and attempted to communicate with Santander to notify them of the situation and request assistance locating the vehicle. Santander failed to provide any meaningful assistance or guidance regarding the stolen vehicle and made no effort to pause, investigate, or update the status of the loan accordingly. 

Furthermore, I never received any documentation from Santander stating that the account was being charged off, when or if the vehicle was recovered or resold, how the proceeds ( if any ) were applied, or whether there is a remaining deficiency balance. This lack of transparency violates several consumer protection laws. 
Uniform Commercial Code ( UCC 9-611 to 9-616 ) Santander failed to provide post-default notices about vehicle sale, accounting of proceeds, or deficiency details.

Fair Debt Collection Practices Act ( FDCPA ) If Santander attempted to collect the deficiency without clear, accurate, and timely documentation, this could constitute unfair or deceptive collection practices under 15 U.S.C. 1692e and 1692f.

Fair Credit Reporting Act ( FCRA 15 U.S.C. 1681s-2 ) Santander reported the account as charged off without notifying both joint account holders or ensuring the accuracy and completeness of that information.

Consumer Financial Protection Act ( 12 U.S.C. 5531 ) Failing to assist during a theft investigation, provide post-charge-off transparency, or report accurate credit data constitutes an unfair and deceptive practice. 
I also submitted a formal dispute to XXXX  regarding this account, clearly challenging the accuracy and completeness of the repossession and charge-off data reported by Santander. Instead of addressing my dispute, XXXX  only updated my personal information ( such as name or address ) and failed to conduct a reasonable reinvestigation of the actual account information, as required by FCRA 1681i. XXXX  never provided evidence that the account was properly verified. 

This response ( or lack thereof ) violates my rights under the Fair Credit Reporting Act, and I believe XXXX  acted negligently in failing to fulfill their legal obligations. 
I respectfully request that Santander immediately provide all legally required documentation regarding the stolen vehicle, any recovery, resale, and accounting of sale proceeds. 

If they can not provide this information, I request that the account be removed from my credit report. 

I also request that XXXX  be required to properly reinvestigate my dispute and either remove or correct the reporting of this account based on the evidence ( or lack thereof ) provided by Santander. 

This situation has caused me significant financial and emotional distress. I believe my consumer rights have been violated and I am requesting the CFPBs assistance in investigating and resolving this matter.

Company response to consumer: Closed with non-monetary relief