Consumer complaint received 2026-06-02 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Struggling to pay your loan — Denied request to lower payments
Company: TRUIST FINANCIAL CORPORATION
State: OH

Complaint narrative:
I am filing a complaint regarding my auto loan account # XXXX involving Regional Acceptance Corporation and Truist. I believe I was placed into a financially unsustainable subprime auto loan despite obvious affordability concerns and financial hardship. At the time I obtained this loan, I was already upside down on a previous vehicle that I desperately needed to trade because it was unreliable and had structural damage issues that I did not fully understand until later. The dealership knew the vehicle was not worth what I owed on it, yet the negative equity was rolled into my current loan in order to complete the financing. I needed transportation and felt I had very limited options. I actually financed approximately {$22000.00}, yet after more than two years of payments my current principal balance is still {$27000.00}. My current 20-day payoff amount is {$34000.00} with daily interest charges of {$14.00} per day. The vehicle itself is worth significantly less than the loan balance. Since late 2024, I have repeatedly contacted Regional Acceptance and Truist requesting hardship assistance, payment reduction, restructuring, or temporary accommodations due to illness, unemployment, loss of income, and severe personal hardship. I recently started a new job and completed training, but I will not receive a full paycheck for another two weeks. Despite demonstrating financial hardship and actively communicating with the lender, I was informed there are essentially no hardship programs available to help reduce or temporarily adjust my payments. I do not understand why no meaningful hardship accommodation exists despite documented loss of income and my repeated efforts to avoid default. I rely on this vehicle to maintain employment and financial stability. I am not refusing to pay this debt. I am attempting to avoid repossession and continue making payments while trying to recover financially. I also later discovered that the vehicle I previously traded in had a history of structural damage from a major accident prior to my ownership. I did not fully become aware of the extent of this issue until the trade-in process in XXXX XXXX. The diminished value of that vehicle significantly contributed to the negative equity that was rolled into my current loan. While researching my situation, I found a very large number of publicly reported complaints from consumers describing similar experiences involving high-interest subprime loans, excessive balances compared to vehicle values, aggressive collections, and difficulty obtaining hardship assistance. After sending a detailed written hardship request to Regional Acceptance/Truist explaining my financial hardship, loss of income, new employment, and request for assistance, I received only a brief response directing me to call a general phone number without addressing my concerns regarding hardship accommodations, payment restructuring, or my account balance concerns. I feel my situation has not been meaningfully reviewed despite my repeated attempts to communicate in good faith. I am requesting a review of the loan servicing practices, hardship handling, account management, interest structure, and overall fairness of this loan situation. I am also requesting consideration for any available hardship accommodations or restructuring options that would allow me to continue working and responsibly address this debt.

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