Santander Consumer USA
Payments applied to interest and promo payoff amount changed

On 9/20 I secured a loan against my Ford Escape in the amount of $4,545.00. The Truth in Lending disclosure I received showed an APR of 35.99%, a finance charge of $5,370.80, an amount financed of $4,600.00, and a total of $9,970.80. The loan term is 60 months, beginning 10/19, with all payments at $166.18/month. I made the first payment on 10/8 in the amount of $170.00. Of this amount, $92.31 was applied to principal. A second payment was made on 11/7 in the amount of $170.00. Of this amount, $26.56 was applied to principal.

At this point my husband lost his job and we were unable to make any payment, as we needed to adjust our finances. Instead of working with us, they charged me additional $5.00 charges. My December bill showed me as owing $158.54, then my January bill showed me as owing $329.72. My February statement showed me as owing $500.90. On 3/11 I paid what I could, $100.00. On March 18th I made an additional payment of $200.00. Both payments were entirely applied to interest. On 03/04 I received a bill that showed me as owing $672.08.

Upon receipt of my tax refund, I consulted their website for the payoff so I could take advantage of the special offer that was included in my billing statement. The offer read "Tired of playing catch-up? Use your tax refund to bring your account current plus one month ahead and we will waive up to $250 in fees! * Hurry! Offer Ends March 31." In consulting the website, it read that $381.80 was due by 4/19. Based on this, I paid this and the processing fee of $10.95 to meet the special offer. Once I received the email notifying me that the payment was received, I consulted the website once again, only to find that it now read $141.46 was due by 4/19/13!!! I then contacted them to inquire about this. I spoke with a customer service representative who waived $15.00 and transferred me to her manager. The manager refused to make this right and instead submitted a complaint to their main office on my behalf. I am hopeful to rid myself of this debt as soon as possible and never do business with this company again.

Company: Santander Consumer USA
Country: USA
State: Texas
City: Fort Worth
ZIP: 76161-1245
Address: P.O. Box 961245
Phone: 8882224227, 8773748305, 8008616743, 8882767202, 8005260157, 2146341110
Site: santanderconsumerusa.com

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