Recently, the amount due to be current on my auto loan with triad was 518.00. I sent them 100.00 and so expected the amount to change to 418.00 right? Well the amount due to be current actually increased to 525.00. I contacted them many times to get this straightened out only to get a run around. Finally, I was contacted by email by them. They stated that because I sent them a little extra money three weeks ago that the amount that is over my normal monthly payment went towards principal vs interest and that this MADE THE SYSTEM RELFECT ME BEING LATE BY THAT OVERAGE AMOUNT (107.00).
Triad stated to me in their email that if I wanted the system to reflect my true status, I would need to ALLOW THEM TO PLACE THAT 107.00 AGAINST INTEREST INSTEAD OF PRINCIPAL. Now since when does they way they apply the payment to your balance have any bearing on how current I am??? Wow what if I sent them three months worth of payments? Would I then be 3 months late?
Well, I sent my complain the the Banking Department! They are investigating the situation! THE NUMBER TO COMPLAIN IF YOUR LOAN ORIGINATED IN NEW YORK STATE IS 1-877-BANKNYS. On Triads website, It says where to complain but it only gives you the information for the state of TEXAS. If you live elsewhere, you will need to get in touch with the banking dept.in your state. But they will handle your problems with Triad right away!!!
Yes report to the fcc too, but for your problem to be addressed specifically and for the banking dept to crack down on these clowns contact your banking dept. They will now be able to get away with what they are doing if you inform your states banking dept.
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