On or about Jan 1, Chase sold our account to Vanderbilt Mortgage and Finance. Since that time, each of my monthly payments I have made to them have been posted 1 - 4 days after they're received, which is untimely posting of payments. And I know when the payment is received because I use delivery tracking of the payments.in addition, any "Principal Only" amounts I have enclosed with my monthly payments has been placed into an overage/suspension account instead of being applied to my account's principal balance, which has caused excessive interest to accrue. All of this is technically illegal as it is nothing more than "serial theft". Granted, it may only be $20 extra in interest but, when you consider this may be happening to 1000's of accounts each month that adds up to quite a large profit for Vanderbilt.
They even have posted my payments on non-business days (i.E. Sunday) after receiving the payment the previous Friday at 3 AM, which is long before their posted business opening hours of 8:30 AM. I have spoken to their customer service reps, whicxh really got me nowhere and have written a Respa letter to them, which they have yet to acknowledge.
I do not take being scammed lightly so I am gathering information, which I intend to furnish to the FTC, the Attorney Generals and Banking commisioners of Ga, Al, and TN, and a major law firm for possible action. Anyone want to join in and add you experiences to the complaint?
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