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FTC puts the brakes on national subprime auto lender

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Talk about a bumpy ride for consumers!

When you get vehicle financing through a dealership, you and the dealer enter into a contract: you buy a vehicle and agree to pay, over a period of time, the amount financed plus a finance charge. The dealer may hold onto the contract, but typically, it's sold to a bank, finance company or credit union. This “assignee” is responsible for the day-to-day management of your account, including collecting and crediting your monthly payments. But sometimes, things don't go exactly as they should.

Enter the FTC, which charged one assignee – Consumer Portfolio Services, Inc. – with doing everything but managing customer accounts properly.  

In fact, CPS will pay more than $5.5 million to settle Federal Trade Commission allegations that it overcharged consumers across the country, and used illegal tactics to collect delinquent amounts. CPS collected money it wasn’t owed, harassed customers and third parties, falsely threatened repossession, and told family, friends and employers about delinquent customer debts. CPS also failed to develop policies and procedures for responding to consumer disputes about information reported to credit reporting agencies and failed to reasonably investigate and respond to disputes.

In the end, CPS agreed to refund or adjust 128,000 accounts more than $3.5 million, and stop collections on an additional 35,000 accounts to settle the FTC’s charges that the company violated the FTC Act. CPS will pay another $2 million in civil penalties to settle FTC charges that it violated the Fair Debt Collection Practices Act, which protects consumers from abusive or harassing treatment by debt collectors, and the Furnisher Rule of the Fair Credit Reporting Act, which outlines a company’s responsibilities when reporting consumer information to a credit reporting agencies.

Every consumer has the right to be treated fairly when it comes to debt collection. If you think a company is breaking the law, tell it to the FTC. Your complaints help us stop rip-off artists, scammers and fraudsters. In fact, complaints people sent us about CPS helped the FTC’s investigation of the company. Your complaints matter at the FTC.

Tagged with: car, debt collection, loan
Blog Topics: 
Money & Credit

Comments

I would like to be in the class action lawsuit against Regional acceptance.

Regional Acceptence Corp interest charged violates usery fees in the State they are headquartered out of. They cannot charge 19.7%. People who get financed through them usually do not have good credit and don't have the money to hire an attorney to do something about it. The dealer wants to sell the car and could care less what a human is put through. I was not only financed through Regional, I also was sold a 2 year old vehicle that was smack in the middle of a class action lawsuit that the dealer (well known dealer) was privy to. So I also owe the cost of a cheap house AND had the transmision fail while driving 6 months after purchase. And when the dealer told me the price I said "what's wrong with this car?" because it was much lower cost than same car one year newer. Salesman said "nothing is wrong with this car". Told me they got it for a good deal. A person at work who has a very high position told me report the dealers practices to sell me that car to the D.A. office. Consumer protection. It will end up being a nightmare just like everyone else paying years on a loan and owing forever. I regret buying the car and letting the dealer sell it to me and not one word about high interest rate until I had pen in hand and was signing and initialling. Then no word. I saw it. As for faulty transmission I can't take the car on a turnpike if it fails it loses power and a semi could rear end me. And my estate would probaby still owe Regional cost of that cheap house.

Having the same issue with Regional Acceptance on a $17,000 loan from 2013 my payment was $580 a month (23.4% interest). I called to Voluntary surrender due to job loss and they let the car sit here for a year before getting it. Now they are suing me for 10K since they let the vehicle go for just at $7,000 - and never informed me of where the sale would be, just the date and time. Wish I had thought to read reviews for them before I signed. Hope you get yours sorted out!

HEY, WE PURCHASED A VEHICLE, AND WAS FINANCED VIA CPS, AND THE DEALERSHIP ALSO WAS UNDER FEDERAL INDICTMENT, AND EVEN HAD AN FBI INFORMANT WATCHING THEM, THE SAME TIME FRAME WE PURCHASED VEHICLE. THE DEALERSHIP ADDED 20000 TO PURCHASE PRICE OF CAR, ON BOGUS DOCUMENTS, AND WE WERE NOT NOTIFIED OF THAT AND OUR CAR PAYMENT IS $590 A MONTH. CPS HAS NOT CHANGED THEIR PRACTICES, AND I EVEN LOOKED INTO CPS, AND THEY ADVERTISE TO PROSPECTIVE DEALERS ON HOW TO GET FINANCING, REGARDLESS OF WHAT OR HOW IT IS DONE, AND IT EXPLAINS WHOLE HEARTEDLY WHAT THEY ARE DOING. WE NEVER RECEIVED NOTICE OF LAW SUIT WITH FTC, AND ON OUR DOCUMENTS, WE NOTICED THEY CHANGED THE ORDER OF OUR PHONE NUMBERS. WE WERE SOLD BOGUS WARRANTYS. THIS DEALERSHIP WAS ALSO INVOLVED WITH A FTC SUIT, AND WE DID NOT GET NOTIFIED EITHER. CPS CLAIMS THEY DID NOT KNOW ABOUT WHAT THE DEALERSHIP HAD DONE, BUT WITH COMMON SENSE, OUR NISSAN WAS SOLD TO US ALMOST $40000. YOU CAN NOT TELL ME THAT THEY, MEANING CPS, DOES NOT KNOW WHAT THE DEALERHIPS ARE DOING. THEY STILL CONTINUE PRACTICES OF ILLEGAL COLLECTIONS, I HAVE TRIED ON NUMEROUS TIMES, CONTACTING THE AUTHORITIES WITH FTC WITH NO ANSWER. I CONTACTED CPS ABOUT REFUND, AND THEY SAID WE WERE NOT INCLUDED, BUT WE WERE. AND THE NEXT DAY AFTER I CONTACTED THE vp OF CPS, HE TOLD ME AS A SPECIAL FAVOR, HE WOULD TAKE FEES, AND CHARGES OFF. SO WHAT DOES THAT SAY. THAT DEALERSHIP, WAS CHARGED WITH FEDERAL RACKETEERING CHARGES AMONGST OTHERS, AND 3 PEOPLE DIED. THE WHISTLEBLOWER, HIS CAR SPONTANEOUSLY BLEW UP, AND LEAD DETECTIVE, DIED, AND CORONER "FELL DOWN STAIRS"

Now when will soldiers as mr dunn whom report all these scams and shysters get their cut? Wat occurs with all this money being payed cuz consumers gota eat.
How Much longer will Ocwen loan servicing group in Florida as a P.o.box gets indicted.a man they refunding thousands via moneygram stating everything ok.then turn around saying a entire house better pay thousands or be evicted and werein default ewhich makes it a commercial activity because their in another country.america you ain't shyt.

why am I not getting any response back. COnsumer portfolio Services are not following the guidelines set forth with the lawsuit in 2014, when we should have been apart of lawsuit, but were not, if cps tried to call or send out a notice, we wouldnt have received it. BC dealership changed our information. Can anyone help. ROBERT K is owner of vehicle. Everything, the add ons were bogus. Please, out of courtesy, some one please give me some sort of explanation.

The FTC settlement with CPS happened in 2014.

You can report a complaint about the dealership and about CPS with the FTC at FTC.gov/complaint. You can tell the FTC about your experience with the dealership and CPS. The information will go into a database that the FTC and other law enforcement agencies use for investigations. The FTC will not handle your personal case; it collects information for investigations and large cases.

You can contact your state Attorney General about the dealer and CPS. If you want to talk to a lawyer, you could use this state-by-state list from the American Bar Association or this site from the State Bar Associations to look for a lawyer in your area.

Here we go again...
Upon contacting CPS to verify if a refund or adjustment would be done on an account that had been charged off/closed. June the 6th was the last email sent to CPS in an attempt to verify change of address (There had been no contact with CPS since April of 2013 when I was taken to court). When not receiving an reply back with procedures on how to update address...I called CPS on June 9th explained my concerns for an account to receive a credit after it had already been taken to court, and told them my address had changed...guess what...yep, disconnected. So, I called back, spoke to a different person, explained we had somehow been disconnected. This person informs me the account would receive a $16 credit...So, I questioned the account receiving a credit since they had already taken me to court. She tells me that they will have to speak with their attorney and call me back...click, yep...they hung up/disconnected...without getting my updated information.
After going through rough times with CPS (now mind you, I still have the past letters of threats, the saved voicemail threats, such as pay up or else, and we will keep calling you back). Pulled my credit report...the payment history (now remember they took me to court in April 2013)...payment posted 4-2013(what), payment posted 5-2013(what again), charge off 6-2013(ok that would be court), payment posted 7-2013(how is this possible)...So here we go again...12 payments shy of having this loan completed...Original balance was $16,820, Ive paid over $20,500 and the charge off was for $7,048...This has been what seems like a never ending relationship with CPS.

If you have questions about your elgibility for a refund or account adjustment contact CPS directly via telephone at 1-888-806-2367, email FTCsettlement@consumerportfolio.com, or visit the company’s website. Here's a link to the FTC's press release for more information.

This is the last email response(6-6-14)from CPS:
Please be advised that your account is included in the FTC Settlement and your account will receive a credit within 60 days from May 29th, 2014.
I called CPS twice (6-9-13) First call-we were disconnected...Second call they will speak with their attorney and call me back-they hung up or we were disconnected.
The information you provided above is how Ive made contact with CPS.

Bravo, FTC! Now Please do the same with Santander Consumer USA and restore the faith of thousands of citizens who have experienced nightmares while dealing with this company!

My story is way to long, but I have to share. Dealer, Long Beach BMW/Mini, sub-prime lender, Santander Consumer USA. Mini baited me all day with a guaranteed loan of no more than 7%. Considering my $20,000 down payment and bad credit due to my recent divorce, I thought it was a fair deal. I was the last contract to sign for the day. We were all tired by the time I signed the contract. I unfortunately didn't read the contract because my salesperson gave his word. BIG MISTAKE!!! I financed $16,800. My loan was sold to Santander. I purchased my LEMON a 2011 Mini Cooper Countryman, my second mini, in February 2011. In April 2011 my nightmare began when I finally read my finance contract. When my first payment was due I sat down and finally read over my contract. OMG!!!!! not only was my $20,000 down payment, my interest rate was 23%. If I was to pay every payment on time, my total interest on a $16,800 loan was over $12,000. WTF. I called the dealer, so sorry, but it's already too late. Try refinancing it somewhere else is the reaction I got. As this was coming to light, my lovely Mini Cooper Countryman started it's downhill slide to lemon land. My battery was defective and I had to replace it, two months old. That's only the beginning of the repairs, replacements and recalls on my car. TO MAKE IT WORSE, I STILL HAVE TO PAY FOR IT WITH SANTANDER!!! Every day I'm charged $10 in interest, that’s $300/month. If I miss a payment or not I am charged $300 in interest. My payment they add the extra $300 in interest for that month and charge me interest on interest. So now, when I make a payment $476 plus their $10 fee to make the payment. $300 of that car payment goes towards their interest/fees and $176 to the next months payment. If I'm late that month, then it continues the same routine. So in two months I pay $934 in payments and only $342 goes towards my car the rest to Santander. Also, they offer a deferred payment program if you get behind. Great I thought. They say we will just extend the loan by how many months you are behind, plus the fees. Okay? They don't mention that any outstanding fees will automatically be reflected in every monthly statement as the total payment due, when the actual amount due is the regular monthly payment is required. So now, on paper and my CREDIT REPORT it says I’m delinquent until I come up with the extra $2,000 in fees that have been added and compounded with 23% interest. To make matters worse, Santander reports the delinquency to the credit agencies every month and that now has thoroughly demolished my credit giving me no chance of qualifying for a new loan. Today, because of a few late payments, one repossession because a “mailed” payment didn't make it to Santander I OWE MORE FOR THE LEMON I DRIVE THEN I INITIALLY FINANCED 3-1/2 YEARS INTO IT and MY CREDIT IS RUINED.
How can this company continue to do this to the consumer and how unethical and desperate can BMW/MINI USA be to offer this subprime loan shark as a choice for their customers. Shame on BMW USA for their "look the other way to get a deal financed through this despicable company and allowing a car with continued mechanical problems and complaints be put on the street and not honoring their "boot to bonnet" warranty. Lastly, I want to thank Santander for their phone harassment, extortion and greed by taking advantage of people who already are having temporary financial difficulties and need some help in getting their credit cleaned up and finances in order and finally letting me know that I will be paying them more in interest and fees then for the loan itself. OVER $16,000!!!!!!!!! FTC, PLEASE LOOK INTO THIS COMPANY AND SHUT THEM DOWN. Any advice would be greatly appreciated regarding the financing and filing a complaint and grievance about my car under the Lemon Law. Thanks

You can file a consumer complaint with the FTC at ftc.gov/complaint. The details in this complaint could be helpful to investigators who access the FTC's complaint database. Watch this video to learn more about how to report a scam and why it matters.

I just read your comments, todays date is March 4, 2016, I wish you could get in touch with me because that is the exact thing that is happening to me with Santander Consumer USA, Inc. Everything you said word for word. Can anyone at the FTC assist. I will be sending a letter of my history with Santander Consumer USA soon.

If you want the FTC to know about a problem, please file a complaint at ftc.gov/complaint. The information you give will go into a database that the FTC and other law enforcement agencies use for investigations.

Blog comments don't go into the database.

We have the EXACT same problem with Santander!!! We owe more on my husband's lemon truck than we did when we financed it because of all the fees. It is criminal! We are in our 60's and will never be able to get this truck paid for before it dies or we die!

We were ripped off too. And dealership was involved either w CPS or acted alone but u can't convince me CPS DIDN'T KNOW that DEALERSHIP was fraud. They added on bogus documents, $20000 to price of car. We received separate documents. I have emailed 5 x to FTC AND TALKEd TO VP AT CPS BC THEY ARE DOING SAME CRAP. AND HE SAID I WASN'T PART OF SUIT AND WE WERE.AS WE WERE IN PROCESS OF PURCHASE, AN FBI INFORMANT WAS IN THERE UNDERCOVER, AND VPS WAS ACTIVELY IN SUIT OR JUST ENDED. THEY TRANSPOSED OUR CONTACT INFO SO WE DIDN'T GET ANY NOTICE ABOUT SUIT.ICAME ACROSS IT, AND WAS IN SHOCK, AND I HAD MISSED REFUND DEADLINE.I JUST COMMEENTED ON BOTTOM OF OTHER COMMENTS LONG STORY. BUT FEDS WENT AFTER DEALERSHIP TOO. SERRA NISSAN CENTERPOINT , BIRMINGHAM AL.THEY WERE CHARGED WITH MANY FELONIES, ONE BEIMG CRIMINAL RACKETEERING, ( MOB CRAP), THE WHISTLEBLOWER, lead investigator who was in charge of that man's death mysteriously died, as well as the CORONER, WHO WAS GETTING READY TO CALL THE CAUSE OF DEATH IN COURT. HIS CAR SPONTANEOUSLY BLEW IN A BALL OF FIRE WHILE ON INTERSTATE. IM TALKING OF WHISTLE BLOWER,FROM INSIDE DEALERSHIP WHO H
WAS PRIME PERSON THAT HAD INFORMATION OF ALL CRIMINAL ACTIVITY, INCLUDING OWNER. BUT WE WERE FINANCED CLOSE TO 40000 FRAND ON $24000 CAR. And our WARRANTY WE PURCHASED , MAINTENANCE CONTRACT WERE BOGUS, AND DOWN PAYMENT NOT PUT TOWARDS CAR, BUT POCKETED.ARE SALESMAN​ ENDED UP IN PRISON..MOST EVERY EMPLOYEE RECEIVED SOMETHING, ORDERD TO PAY BACK.WE J
HAVE NOT RECEIVED A DIME. BUT FEDS LEAD PROSECUTOR ON CASE, SAID DEATHS UNRELATED. REALLY? I DISAGREE. AND CPS DTILL DOES EXACT SAME ILLEGAL ACTIVITY , THAT THEY WERE SUED FOR. AND ACCORDING TO SUIT, THEY ARE SUPPOSED TO BE MONITORED, AS FAR AS ACCOUNTING. IM FED UP. THEY LET US , IS OTHERS PURCHASE AND FINANCE WITH CPS WHO WERE BEING SUED, AND THEN ALSO FBI INFORMANT WAS INSIDE THE DEALERSHIP, UNDERCOVER, SAME TIME FRAME THAT WE PURCHASED VEHICLE, AND NO ONE COULD TELL US. AND IN TESTIMONY THE SALESMEN AND OTHET EMPLOYEES ADMITTED THEY FELT PRESSURED FROM CORPORATE, TO MEET SALES QUOTA...THATS Y DRASTIC MEASURES AND THEY COMMITTED FRAUD AND OTHER CRIMES TO MEET QUOTA, I HAVE SAID THAT CORPORATE NEEDED INTERNAL INVESTIGATION.STILL THESE TYPES OF CASES ARE STILL HAPPENING ALL OVER COUNTRY, NOT JUST W NISSAN, BUT OTHERS TOO. AND THRY NEED SHUT DOWN, AND CORP SHOULD BE ACCOUNTABLE WHETHET THEY KNEW OR NOT, BC ITS THEIR BRAND THEY ARE SELLING,.. DID CORP NOT QUESTION THE IMMEDIATE GAIN IN SALES IN THAT REGION ?BLOWS MY MIND. CPS NEEDS SHUT DOWN. If you go to website, there isa customer area, and Dealer area for future dealers, and you can access it no problem, and it's an online manual on how to DEFRAUD future customers,..bs. I sent all my evidence, to lead prosecutor on case , never received anything back.ive made multiple complaints. But there is more to it.. on other comment. But on this site,. Ice been screwed by TMobile,dtv , att, Verizon, and never received a dime from any of them.They need to go after CPS again, new complaints all over internet, doing same illegal collection practices all over. I'm disgusted, and were
Supposed to be protected by FTC. and I feel very violated and dismissed. Anyway I hope you will get back what u lost.. but a class action needs to happen again,and I personally think that Corporate headquarters of Car makers need investigated. If you research this site, this type of CRIMINAL ACTIVITY, is all over our nation, with lots of car makers, dealerships, and shady financing. Good luck.

i cannot get through to customer service by phone or on line to make a payment and find out why i still owe $2500 after 5 years of payment. they sent a letter dated dec 21 but i rexeived dec 31. demanding payment by jan 3 this year. it was a holiday and weekend so mail not an option but i cant pa online or at the number provided. i get hung up on right when i finally reach customer service. doesnt something have to be filed with sherriff before reo of my car is attempted? i have the money, just no time to get it to them in 2-3 days with no mail service and denied internet pay option.

Our payments were done in Sept. I paid two extra months. They still want 1300. It is bull I hate them

Santander USA is holding onto check and money order payments in order to assess late fees. It takes up to 20 days for my check payments to post.

hi i took out a loan for 7500 against my vehicle wich was worth at the time 30,000. after signing and handing over my title i was given a document were it stated i would be paying 23,000 for a 7500 i told the represenative i no longer wanted the loan he said i had no choice as penalties would be made against me. i was charged almost a 300% interest is this legal in california? they failed to credit my first two payments wich allowed them to add more late fees and extra charges. I default i already had money issues and they trapped me on a 613.24 monthly payment. my vehicle was reposed and was denied any access to my property they sold and repossed my vehicle out side of california is this legal? they made false acusations against me with my references claiming i was being investigated for fraud please help. they sold my vehicle accorfing to them for 13000 wich its ridiculous they will not provide me any documents as to how much it sold for. i spoke to the manager last week and he said they have the right to accuse me of fraud .i have this call recorded please help it makes me believe this company has everyone bought off to avoid complaints against them i have been denied any help please investigate Trading Financial Credit LLc

Thank you for sharing your experience. Unfortunately, we cannot address complaints if they are submitted through the blog comments. Please report your experience at ftc.gov/complaint.

If at all possible, I think someone should investigate the fraudulent activity of rules and regulations on the debt collecting procedures done by the United credit union in Vandalia and Mexico MO. I Have had nothing but problems with my auto loan. Though I had defaulted I was still trying to pay and they repossessed the vehicle. I had my sister closing and now they are trying to freeze her ppersonal accounts over my debt. They claim we have a joint account in which neither her nor I were even aware of. They refuse to cash our paychecks when they could've gotten some money to pay on this loan. Twice they refused money because they said it wasn't enough. I'm sorry but should they really believe refusing money on a debt nor matter how big or small the payment?

I think someone should investigate the fraudulent activity of rules and regulations on the debt collecting procedures done by Santander Consumer USA . I received a notice that I'm 26 days late on my car payment which is fault's my payment was taken out of my account by Santander come to find out they messed up and now my account is frozen until they fix the problem. Now this months car payment is due at the end of this week but I'm wondering if I should we to pay it until they get this issue resolved. I've had this car for over 2yrs now with out one late payment I'm very upset....

You can report this to the FTC at ftc.gov/complaint. The information you give goes into a database that law enforcement uses for investigations.

You can also contact your state and local consumer protection agencies about the company.

Very good article.

REGIONAL ACCEPTANCE IS USING SCAM TACTIC IN ORDER FOR YOU TO OVER PAY YOUR LOAN.PLEASE AUDIT CUSTOMERS FILES TO SEE THE MILLIONS THIS CO HAS RIPPED THEIR CUSTOMERS OFF WITH.

Seriously investigate Santander Consumer. they are the biggest Rup off and scammers and I paid over 20,000 for a vehicle and somehow after 3 yrs of 530 payments I still owe 20,500 NOT 1 penny went to principal. then I paid my payment in Jan 2016 and went to make an additional payment for Feb in Jan and my account said closed.

If you think a company is breaking the law, please report it to the FTC at FTC.gov/complaint. You can also contact your state Attorney General’s office and the Consumer Financial Protection Bureau.

Regional finance told us since we could not pay them the car and we did then they called and said they going to take our home for the difference

I have an auto loan with Santander. They served me papers to repo my car if I don't come up with an additional $1800 by the 29th after I just paid them what I was behinh. I just got out of the hospital after falling and breaking my back. Their interest rates are so high it's ridiculous. Now they also want me to pay legal fees. I need help! What are my rights. These people start harassing me at 7:30 a.m. until 11:00 p.m. daily and more then 3 times a day. What action can I take against them.

This FTC article explains your rights when it comes to debt collection.

By law, a debt collector may not contact you at inconvenient times or places, such as before 8 in the morning or after 9 at night, unless you agree to it. Debt collectors may not harass, oppress, or abuse you, and they can't lie to you. They can't lie about how much you owe, or say that you'll get arrested if you don't pay, and other things.

The contract you signed when you took the loan should have details about what you have to pay and when, and if you are supposed to pay their legal fees under some circumstances. It's really important to read the contract again. You can file a complaint about the company with the FTC at FTC.gov/complaint, and call your state Attorney General’s office.

You can also contact the Consumer Financial Protection Bureau and file a complaint.

I received paperwork for garnishment from regional dated 2012 and have been getting garnished since. I can not reach anyone ever. i tried the attorneys listen on the court papers and they have no clue what i'm talking about..literally. I feel like I'm in the twilight zone and I know I'll have to file bankruptcy but they take $160 weekly and resolution is not happening in any way. I was told by a friend that If i contacted the company that was garnishing me, they can lower the percentage they take out per pay period. My loan balance was about 16k. I'm a joint on the account and the primary took the vehicle and returned it to regional. According to the paperwork, I'll have paid 35K once I'm done. I dont know where to turn. There is no legal aid in Arizona..or atleast there is no info on any available online.

You can contact the clerks office at a state courthouse near you to ask about finding legal help, or contact the State Bar of Arizona and ask for referrals.

Your employer should have information about who gets the money that's taken from your paycheck; maybe that will help you reach the company. You might be able to get contact information for the company from the court listed on your garnishment notice.

Please investigate Santander Consumer USA! 3 years of payments and $6100 later, I'm told that a majority of the funds I have paid went to paying interest per day accrued rather than to the principal balance! Now they say I owe $12k+ on an original $11k loan from 3 years ago! Plese help!

You can report problems to the FTC at FTC.gov/complaint. The information you give will go into a database that law enforcement uses for investigations.

You can also contact your state Attorney General’s office and the Consumer Financial Protection Bureau.

The comments you put here on the blog don't go into the law enforcement database.

I have a loan through santandar and have been paying for a total of 4 years on an original loan of 11,000. I have paid over 17,000 and still owe 10,000. Is this legal? The car I have is costing more and more in repairs and all this time I have been paying"interest" and not principle. I can no longer afford a payment of 385 per month on a 2007 nissan that is now costing a lot of money to fix. How do I get out of this loan contract that seems to never end?

You may want to talk with a credit counselor about getting help with managing your expenses. The FTC article about credit counselors explains how to check out and choose a credit counseling organization, and what questions to ask.

If you have questions about the loan contract, you could talk to a lawyer. To find a lawyer, you could see if your local county bar association has a list of lawyers, or use this state-by-state list from the American Bar Association, or this site from the State Bar Associations. You can file a complaint about a lender with the Consumer Financial Protection Bureau.

You can also report this to the FTC at FTC.gov/complaint. The information you give goes into a secure database that the FTC and other law enforcement agencies use for investigations. The comments you put here on the blog don't go into the law enforcement database.

My car was repossessed several months ago. However, all fees have been paid and the caris now in my possession. Unfortunately, I have become delinquent in making car payments and on December 8, 2016 I received a pre-repossession notice. A few days ago I viewed my credit report and learned CPS has been reporting get c/o on my credit report. I was notified verbally or in writing. Also, I received conflicting information from.CPS representative when I contacted them to inquire about what I needed to do to get the car back. I also complained to CPS that $250 was taken out of the console of my car during repossession. I was told to contact the repo agency. I immediately reported the incident to the report agency but was told there was nothing they could do as they could not confirm that I had $250 cash in the car. I supplied the agency with withdrawal slip from my bank and a written letter but was still denied.

You can report the problems you're having with CPS to the FTC at FTC.gov/complaint. The information you give will go into a database that law enforcement uses for investigations.

You can also contact your state Attorney General’s office.

Ms. Lala, this Company has screwed us, they added $20000 grand to our vehicle, and they are not abiding to what the FTCs rules that were set out for them, and still breaking the law. CPS was being sued when we were purchasing our vehicle at a Dealership, that ended up getting sued. The dealership changed our phone number and address, and we were not notified of suit from cps. But there are enough complaints to where they could sue them again, because they are still breaking the law. every month they say we are behind, and we are not. They have threatened repo. They have called me 35x in one day. and I was at Mayo Clinic in the hospital, and they constantly harrassed me, and continued to, even after I told them I was in the hospital, and asked them if I could speak to them on next day. Anyway, I wish FTC would file another class action. We could be driving a Mercedes for what were paying. A freaking Rogue. If your Curious about the dealership, go to AL.com. Nissan Dealership Centerpoint,AL. 3 people died from dealership. The government walked away. Unbelievable. I will say, me and my husband can sure pick em. Makes me sick, but innocent people died, over freaking cars, and the government came back, and said, no foul play, unrelated. I say BS!

Please contact me on a personal email regarding RAC, high interest, given back the vehicle because the Vehicle Car door came completely off its sliding rack and bent the steel it was gliding on. Repaired twice. Letter from RAC and personnel said to it was going sold and any deficiency I would have to pay. How can they resell a safety issue?

Professional financial off Arden nc on car loan ripped me off

You can report the problems you have with a business to the FTC at FTC.gov/complaint. The information you give will go into a database that law enforcement uses for investigations.

You can also contact your state Attorney General’s office.

How can I get a lawsuit against santander or join one. How can I get info on current lawsuits or judgments against them

I have a auto loam from Santander and about 2 weeks after I bought the car I got a letter from them advising that they have good news and to give them a call. When I called the rep said your interest rate has been lowered...oh wait never mind it is the same. I pay over 20% and it is a subprime loan. Not sure if I qualify for the settlement.

I had a loan with Santander for $10k. I paid them 7k and only 2k went towards my principal. I finally refinanced with a bank but I am out of 5k. Is there anything I can do about being overcharged for interest?

You can submit a complaint about a lender to the  Consumer Financial Protection Bureau.

I also had a loan from Santander. Thank goodness I had the means to make double and triple payments. I paid my loan off in two years. They do anything to delay posting funds to the account. If a customer tries to make an online payment through the Santander website,they charge $10.95 fee. If you set up bank bill pay it saves the fees. Santander also delays posting by a day or two so additional interest accrues on each account. Imagine if they have 10,000 loans and each loan is at a 20% interest rate. That would mean that over the course of a year $2,000 of interest accrues. The daily interest would be $2,000/365=$5.48. So every day they delay posting a payment would be additional charges of $5.48 and if the do this every month for 10,000 loans it is a revenue stream of $54,794. I am using conservative numbers. Most likely the balances of each loan are higher and they delay for another day.
In my situation, my car was purchased back from VW and the last payment to Santander had an overage of $2,416. They are telling me that "Policy" is 30-45 days to refund my money. This is a stall tactic in order for the company to sit in my money. Very dishonorable procedure.
I believe any car dealership that uses Santander should be boycotted. I have started a BBB complaint and will be contacting my state Attorney General. I feel sorry for anyone that has a loan with Santander.

And I notice we keep being told to report to the FTC. What you don’t have enough to shut them down? I started researching when I figured out what was up. Dear people at the FTC there are thousands upon thousands upon thousands of people in the same boat. If little ole me can figure that out, you should be able to as well. ENOUGh is ENOUGH!

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