Consumer complaint received 2024-05-15 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Company communicating payment assistance or payment extension options
Company: PENTAGON FEDERAL CREDIT UNION
State: CT

Complaint narrative:
Had verbal and written agreement to pay past and current balance due on vehicle loan. Received confirmation of manager approval that theyd override system which would automatically place me in charge off status. In order to receive car back from repo had to do a series of steps to wire money to the savings acct with this bank. Waited about 4 hours on XX/XX/XXXX for them to receive a US Domestic Wire transfer ( Domestic wires dont take that long to process ). Was on phone with them to confirm funds were avail in the savings acct and informed them to process the payment of {$1600.00}. Lines are recorded- they processed and on Mon XX/XX/XXXX manager of repo dept went in to override system ( last day ) to put it back to the date of XX/XX/XXXX. On same day system somehow overrided mgrs change and it got placed back in charge off status. Checked my acct activity and saw they debited the acct for full {$1600.00} and balance was {$0.00}. Received info to head to dealer to pick up car all the way in NY ( 2hr drive ). Set appt wit dealer to pick up on Fri XX/XX/XXXX @ XXXX. I was cleared to pick up car because they received payment. FF to a few weeks I see the amount of {$1600.00} back in my savings acct for them. I did not touch the money until XX/XX/XXXX when I really needed funds to handle some bills, etc. prior to that date I called last week in XXXX to ensure that due date was changed from XXXX of month to XXXX of month. Man confirmed and told me I was current. FF to XXXX wk in XXXX they said car was charged off. Confusion, of course because how did I get clearance to get the car and go thru many hoops and hurdles to gather funds ; if they didnt receive funds??!! No one is able to answer this question as every rep Ive spoken to is also confused as to how I even got the car back if I didnt pay ( they didnt receive ). Mgr wont do the right thing and reverse charge off status again despite initially doing it back on XX/XX/XXXX. Now the car has been repoed on XX/XX/XXXX and the only option that they gave me after filing a complaint with BBB is to pay the $ XXXX on the car or surrender the vehicle. They also changed their lingo in the complaint response through BBB by saying this : You wired the funds to your PenFed share account on XX/XX/XXXX, and you redeemed the vehicle. We placed the funds on hold with the intent of applying them to your loan. However, after the hold on the funds expired, you withdrew them and did not make a deposit to replace the funds. 

Your loan has been charged-off, and you no longer have the option to resume regular payments. You can either pay the loan in full or voluntarily surrender the vehicle. Otherwise, we will continue our efforts to recover your vehicle. I urge you to contact us at XXXX to make acceptable arrangements for the outstanding loan balance. 

Sincerely, Senior Vice President, Operations Support I dont know who in these recession times has $ XXXX laying around for a car payment on top of other payments that I now have to tackle on my own post divorce. I upheld my end of the bargain and did everything I said I was going to do but I still lost the car. I was willing to work with them and was transparent the entire time because I wanted to pay the bank their money and be responsible!

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