My loan was sold to Santander. I've never missed a payment,but did have one deferred when unemployed.Payments were due on 25th of each month. After they purchased loan, I noticed on my account the payoff balance was higher than the remaining car payments,& kept getting higher. Found out yesterday that each time I paid after the 25th,they added extra interest charges,even though payment was made BEFORE the grace period ended,avoiding the late charge. Is this legal? I have 2 other auto loans through credit unions,and in all my experiences,nobody has ever charged me extra interest when payment was made b4 the grace period ended. They sent me a letter a week ago with total balance,and I sent it in. Today,they are saying it still isn't paid off,but I still owe $10.00. For the 3rd time,they continue to change my balance owed amount. WTH? 12a76b8
 Comments (6) |
| 1. Written by lewis1303 on February 20, 2012 from dallas, texas, US After many hours of phone tag/hassle,I just received my title to my vehicle. They even waved the last .22cents,if u can believe it. |
| 2. Written by DPW0691 on February 3, 2012 from tampa, florida, US I RECEIVED A STATEMENT AND NOTICED WRONG CITY SPELLED,AND WHEN IT GOT CORRECTED I ASKED ABOUT THE LATE FEES AND SAID ITS MY PROBLEM AND AND AS OF TODAY 3FEB12 NO STATEMENT HAS ARRIVED AND IS DUE THE 5TH OF FEB,AND VERY POMPOUS WITH ME,AM ALSO GOING TO THE BBB,ABOUT THIS |
| 3. Written by Read your contract, period !! on January 26, 2012 from charlotte, north carolina, US The "grace period" is regarding late charges, depending whats in your contract. Read it. Interest will accrue once you are 1 day late, as per your contract. They are not adding extra anything. If you people would actually read your contract it will spell out how much interest you will pay over the life of your loan. 99% of the people here have no case against them. I know its very hard to accept. |
| 4. Written by lewis1303 on January 21, 2012 from dallas, texas, US Update: Tried to go online and send the NEW amount of $18 bucks they say I owe. They will not accept payments of less than 100 bucks.  |
| 5. Written by lewis1303 on January 21, 2012 from dallas, texas, US I would have to look for it,but I do have it. I missed no payments out of 60,none. Also,for last 3 years,we have made our payments online,so they get posted later that same day. Yesterday they said I still owed 10 bucks. Today,I go into my account,and it shows I owe 18 bucks to pay off. No matter what I send,it changes. I have made 60 payments & have a receipt for everyone of them. |
| 6. Written by Ironhorse on January 20, 2012 from st. louis, missouri, US do you still have your paper work from the first loan?--as long as you have paid like you were suppose to--they can not change your payments--BUT--if you missed one or more--they can change some things--and when you send in your payment it has to be posted to your account by the due date-- now this is where a lot of companies screw people--you send it in a few days early and they "let it sit on a desk" for a few days--then it shows you were late because it posted late--sad i know but true. |
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