Date Received: 2023-03-06
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: I live in Ohio. I have a credit score between XXXX and XXXX. The usury law in Ohio, states that an interest rate should not exceed 8 %, understanding that this should fluctuate based on credit history. In XXXX of XXXX, I accepted an auto loan from Regional Acceptance Corporation. The vehicle is a XXXX XXXX XXXX XXXX XXXXXXXX. It is used and there are XXXX miles on the vehicle. The resale value for this vehicle, according to XXXX XXXX XXXX is XXXX. I was unaware of this when I accepted the auto loan. Now, I have a " negative equity '' because Regional Acceptance has my payoff amount at nearly XXXX dollars. Also, I was unaware of usury laws that prohibit lenders from imposing unreasonable and or predatory interest rates. My current interest rate is a ridiculous 15.4 %. Now, I am not able to find another company to help me refinance the vehicle because the value of the loan exceeds the value of the vehicle. I pay XXXX a month and XXXX is applied to the interest and XXXX is applied to the principal. I feel that I have been baited and completely taken advantage of. I feel that I was locked into a compromising contract and I have no options to better my situation. I also feel that I do have more than enough entitlement to move forward with a lawsuit as this does seem to be predatory lending. I would appreciate any advice on the matter at hand.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 43616
Submitted Via: Web
Date Sent: 2023-03-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Truist has changed the amount due multiple times without notifying me prior to the due date. They have also charged me for fees that they havent notified me they would charge me for and can not explain what the fees are when I call about them. Not a single department knows what the fees are. I spend hours every month trying to find out what the fees are and have them removed. Each time Im told the fees will be removed but yet the fees show up the next month. Ive never been in default nor have I missed a payment.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 23227
Submitted Via: Web
Date Sent: 2023-03-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-06
Issue: Problem when making payments
Subissue:
Consumer Complaint: I have complained about this company before BUT nothing has changed with billing issues. In XXXX I paid my installment amount x2 yet again. XX/XX/ paid the {$150.00} check # XXXX. Then on XX/XX/ paid another {$150.00} check # XXXX. Now expected to pay yet again on XX/XX/. I am frustrated & tired of this nonsense. With the last complaint I submitted a copy of the agreement & how the clause about payments can be misinterpreted. So now again I am being sent bill for XX/XX/XXXX payment. I want this nonsense to stop! I am attaching copy of the bill & what I faxed back to XXXX XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-04-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-05
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: I am requesting that you validate the information on my report with all original documents including payment history and original contracts. You have NOT provided me a copy of ANY original documentation required under Section 609 ( a ) ( 1 ) ( A ) & Section 611 ( a ) ( 1 ) ( A ) ( a consumer contract with my signature on it ) and under Section 611 ( 5 ) ( A ) of the FCRA.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 43612
Submitted Via: Web
Date Sent: 2023-03-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-05
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: I requested an accounting of my mother 's total assets. I was told that three of her accounts were closed due to lack of verification of my power of attorney. I provided the original power of attorney documents at the Truist branch located on XXXX XXXX XXXX. XXXX, Va XXXX, which were faxed to the head office on XX/XX/23. Accounts were subsequently closed due to lack of the documents I provided. Checks for the balances of the accounts were mailed to my mother 's home address. One check for {$860.00} was sent via XXXX and was delivered to the home in a secure mailshot. The check for {$160000.00} was sent via XXXX and left on the front porch ; no signature required. Fortunately, I was able to pick up the check. The larger check was sent by XXXX XXXX from the office on XXXX XXXX XXXX XXXX XXXX, TN.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 22003
Submitted Via: Web
Date Sent: 2023-03-05
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-05
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: On XXXX, XXXX was the date our loan was due to Truist. It was the date the merger took place. We had automatic payment set up from the start of the loan in XXXX with Suntrust XXXX They took two payments. It took 8 weeks to resolve that. Within that time, my credit score dropped from XXXX to XXXX. They also changed our fixed rate to adjustable after the merger. They reported our loan going up one month instead of down when paying it. Again until XXXX, every months there were issues with the automatic payment being incorrectly applied to interest and principal. We had to pay extra one month due to them applying it incorrectly and refusing to correct it. On XXXX XXXX we paid a fee of {$15.00} to re-do the loan. The parent loan with the line of credit was closed and a child loan ( their term ) opened that was now a fixed rate loan that we could not longer draw off of. And we were NOT told that this now made our loan five years longer. A week later, they reported to all three credit bureaus our loan was now {$100000.00}. That stayed on the reports until XX/XX/XXXX with no one resolving the mistakes reported and changing those number that were incorrect with all three bureaus. The wrong payments on certain months show on the credit reports, this needs to be correct. Numbers didnt match anything that was actually paid.We have repeatedly called to get a supervisor. No one has called. On XX/XX/XXXX, I got notice from all three credit bureaus our credit score dropped XXXX pts. It seems that Truist put out there wed only paid {$7.00} toward two loans with them as they also handle our XXXX payment. We pay a total of {$910.00} for both loans. Our home equity is {$440.00} fixed. Our personal loan is {$470.00}. We need this errors with all three credit bureaus corrected all the way back until the XXXX, XXXX. Each individual month needs to be done. We are unable to leave this bank to get a new loan as no one will now give us credit. We have are unable to apply for even a store credit card. We have been denied at every turn to have the opportunity to leave this bank. Our credit history has been solid since XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 31406
Submitted Via: Web
Date Sent: 2023-03-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-04
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I opened the account on XX/XX/XXXX at Truist Bank and try to deposit the check through App on XX/XX/XXXX at business hour around XXXX XXXX. I have got an email from Truist Bank said thay are going to hold my check until XX/XX/XXXX with verification of check which is XXXX XXXX XXXX check for {$1600.00} which I can cash out from XXXX XXXX right away. There was no information to hold the check when I open the bank account and there is not an policy indicate this incident. Also, App didn't indicate this issue when I do mobile deposit. Normally, what i know is normal check is cleared with in a business day with other banks and I deposit the check as usual. I contacted bank customer service and asked them why it is hold but they said they don't know exactly why it is hold and just say it is because of verification. They are holding the money without reason for over 10 days with no interest. Also, they mentioned that if any payment come and hit my account and over draft the amount, that is going to be my fault and they will charge me the over draft fees because they are holding my fund. I have money but they are blocked my fund to use it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30024
Submitted Via: Web
Date Sent: 2023-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-04
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: None of the descriptors you provided worked for this situation. We live in XXXX XXXX in the National disaster area. We were contacted by Truist Bank by Mail and offered help and support. I was curious as to what this was all about. I was told about different options Forbearance, deferred payments, combination of both and Home Equity loans. I said we really werent interested. The person I was talking said she would send us a form to fill out and sign if we were interested. When the form came through the mail, I tore it up and put it in the garbage. I didnt give it a second thought until this week when I found out from XXXX XXXX that I was being denied credit because You are participating or have recently participated in a payment relief or deferral program receiving modified terms, or credit counseling services, on one or more of your accounts or loans. I found the report that was used XXXX and found the problem was with our mortgage that was taken out with Sun Trust now Truist. Under status. Open/Never late. Deferred, payments begin XX/XX/2023. This is not true. We have not deferred payments and dont ever intend to.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33908
Submitted Via: Web
Date Sent: 2023-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-04
Issue: Charged fees or interest you didn't expect
Subissue:
Consumer Complaint: Respected sir or madam, my name is XXXX XXXX, living in XXXX XXXX XXXX XXXX XXXX wa XXXX, we installed a air condition from XXXX XXXX {$11000.00} and they are the one who help to get financed from service financial, they told us when we get paper work we have to pay {$11000.00} in 2 years with no interest, we sign document online the XXXX told us we don't have to pay interest in 2 years after the remaining balance left you start charging interest we agree, there are XXXX of documents we sign it, once I start payment everything was fine but when I realized they charge me 18 percent, I was surprised, I already pay more lot of money, i told them i am ready to pay off balance they increased with 18 percent interest which i refused to pay them, i call them i told them please reduced interest which they don't agree, its a hard time for me after covid please help me,
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98030
Submitted Via: Web
Date Sent: 2023-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-03-04
Issue: Closing an account
Subissue: Fees charged for closing account
Consumer Complaint: I have received a letter from Truist Bank informing me I have an account that closed and I owe the balance plus late fees. I have never had an account with them. I now have an open police report active and my credit frozen along with my usual bank. This is a case of identity theft, someone opened and closed an account with my person information including XXXX. Any and all attempts to open further accounts in my name, XXXX XXXX XXXX, should be treated as fraud until I am able to secure my accounts.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 17601
Submitted Via: Web
Date Sent: 2023-03-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A