Consumer complaint received 2026-05-20 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: Veros Credit, LLC
State: CA

Complaint narrative:
I am filing a complaint regarding ongoing billing discrepancies, lender-placed insurance charges, misleading payment information, and lack of communication on my auto loan account with Veros Credit . I was uninsured from XX/XX/XXXX through part of XX/XX/XXXX. I obtained valid insurance coverage effective XX/XX/XXXX and submitted proof of insurance to Veros Credit on XX/XX/XXXX and again on XX/XX/XXXX. However, despite obtaining coverage, submitting proof multiple times, and making repeated good-faith payments, insurance-related charges continued accumulating on my account. After reviewing my account ledger, I discovered that multiple insurance-related charges were applied to my account at once on or around XX/XX/XXXX, rather than being clearly reflected and communicated monthly as they accrued. The ledger reflects multiple {$80.00} insurance-related charges being added together during that period, which significantly increased my balance at one time. At the same time, I was not receiving billing statements. Although I was enrolled in paperless billing, I did not receive billing statements from approximately XX/XX/XXXX through XX/XX/XXXX. I did not begin receiving statements again until XX/XX/XXXX. Because I was not receiving statements during the same period these charges were accumulating, I was not adequately informed of : the growing insurance-related charges how my payments were being applied the true amount required to bring my account current I made multiple good-faith payments, including : {$730.00} on XX/XX/XXXX {$240.00} on XX/XX/XXXX after being specifically told by a Veros Credit representative that this payment would bring my account current My regular monthly payment of {$480.00} thereafter On XX/XX/XXXX, I was specifically instructed by a Veros Credit representative to submit proof of insurance and pay only my regular monthly payment because adjustments would be made to the insurance-related charges. Based on this representation, I made the requested payment and was told my account was squared away. However, I later learned that my payments were being applied primarily toward interest while insurance-related charges continued accruing and remaining outstanding. This was not clearly explained to me at the time of payment. Additionally, despite my insurance becoming active on XX/XX/XXXX, my statements continued reflecting increasing other charges, including : approximately {$400.00} in XX/XX/XXXX approximately {$470.00} in XX/XX/XXXX This caused my balance to continue increasing despite making payments as instructed. I made several attempts to resolve this matter directly with Veros Credit through phone calls and emails sent on XX/XX/XXXX, XX/XX/XXXX, and additional follow-up communications thereafter. I either received no response or was provided inconsistent and misleading information by representatives. I also requested escalation to a supervisor and was informed that no supervisors were available. At this time, I am requesting : A full account review and audit A complete payment ledger and accounting of how all payments were applied Review and removal of any lender-placed insurance charges applied after XX/XX/XXXX Reversal of any related interest or fees tied to improper insurance charges Written clarification of the correct balance owed on my account Confirmation that my account is not being negatively reported due to disputed insurance-related charges I have made repeated good-faith efforts to keep my loan current, follow instructions provided by Veros Credit representatives, and resolve this issue directly. However, due to the continued accumulation of disputed charges, inconsistent account information, and lack of communication, I am requesting regulatory review and assistance resolving this matter.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation