Consumer complaint received 2025-05-09 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Title loan
Issue: Vehicle was repossessed or sold the vehicle — 
Company: TD BANK US HOLDING COMPANY
State: NJ

Complaint narrative:
Dear CFPB Customer Assistance I am writing to file a formal complaint against TD Auto Finance, a national bank regulated under your jurisdiction, for what I believe to be improper repossession practices and a failure to mitigate loss in good faith. 

Background On XX/XX/year>, my vehicle was repossessed by TD Auto Finance under the following troubling circumstances : Minimal Default : I was only one month past due on my loan paymentsnot a substantial or prolonged default that would typically justify immediate repossession. 

Trespass and Breach of Peace : The repossession agent trespassed into a secured, private garage around midnight where my car was parked. The garage requires a parking pass to access, and the property management confirmed they did not authorize or assist the tow company in gaining access. It remains unclear how the agent entered, raising concerns about unlawful entry.

Improper Repossession Conduct : After placing the vehicle on the truck, the agent called me to come retrieve my personal items. I complied and asked him to release the vehicle as I was prepared to make the payment immediately, but he refused. His refusal and the surrounding circumstances amounted to a breach of peace, which is impermissible during a repossession under UCC 9-609.

Refusal to Accept Payment/Modification : I immediately contacted TD Auto Finance after the repossession to arrange payment and regain possession. However, they refused to accept any payment or establish a payment arrangement, insisting that I pay the full remaining balance of {$26000.00}. Despite repeated attempts to negotiate, they declined to cooperate.

Failure to Dispose of Collateral Promptly : TD Auto Finance sent a notice that the vehicle would be sold by XX/XX/year>, but as of XX/XX/year>, the car remains idle at an auction lot with no instructions from the lender. I independently confirmed this with the auction facility in XXXX. This delay violates their duty under UCC 9-610 to dispose of the collateral in a commercially reasonable manner and time.

Continued Harm to My Credit : The unpaid balance of {$26000.00} remains on my credit report, severely harming my credit and preventing me from securing financing for a new vehicle, despite TD Auto Finance still retaining the car and not applying any sale proceeds toward the balance.

Request for Relief I respectfully request that the CFPB investigate TD Auto Finances conduct and intervene to : Instruct TD Auto Finance to complete the sale of the vehicle without further delay ; Apply the sale proceeds to the outstanding loan balance ; Update credit reporting to reflect the resolved debt and remove the delinquent balance ; Review the potential unlawful repossession involving trespass and breach of peace.

Please find enclosed a copy of a prior response from the NJ Department of Banking and Insurance, who referred me to your agency for proper jurisdiction.

Thank you for your attention to this serious matter. I am available to provide any additional documentation, including correspondence, payment history, or security gate records from the garage. 

Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation