Santander Consumer USA Santander Banco Santander has been unethical and ruined my credit, even though I've done my best to continue paying them. Dallas, Texas

I did some more research online and have found hundreds of complaints against them for bad ethics and illegal repossession/ credit reports. I’ve found cases of account balances changing and payments being lost or held until late fees can be assessed. I’ve found cases of double or triple payments being automatically debited without authorization and not being returned. I’ve found cases of jobs being lost do to harassing calls at work. I’ve found cases of threats. I’ve found cases of ruined credit. I’ve found cases of hospitalization due to lost funds and customers being unable to afford medications.

Concerned, I called them again November 16, 2010 and requested a written record of all transactions and settlement offers. They said there are no written records because the settlement contract is verbal and I just needed to tell them about it every time I call. They said they will send me another email that will be proof of the contract. Then I spoke to the Credit Dispute department, who told me that they would continue to list my total amount owing every month on my credit report until it is paid off. When I explained that the amount was incorrect and that it was hurting my score, he said the only thing I could do was wait it out or pay my settlement in full because the settlement won’t go on my credit report, neither would the monthly payments I’m making. When I asked what possible benefit there is to keep paying my debt when it was ruining my credit to do so, he replied that it was my choice, and hung up on me.

The reason...the ONLY REASON you have bad credit is because you have a repo.  Voluntary or not, a repo is a repo!

But in typical subprime thinking fashion, its all the lender's fault, right???

Dear Jim from Orlando-

You are right! Your post has completely changed my life! I am in awe of your way with words, and your honest and well-thought-out helpful advice. I AM a sub-prime thinker down to my very toes and I just didn't see until now!!!

Even though that repo was 3 years ago, I completely deserve to have my credit ruined for the rest of my life. Even though I have no other debts or problems with my credit, and I've worked very hard to do the right thing at all times (including paying Santander the debt I owe), I believe with all my heart that the repo should follow me around forever. I completely agree with you.

And as for the company that I mistakenly thought was unethical? I'm definitely wrong. The Better Business Bureau is obviously wrong, too. I'd also better call the three credit bureaus that told me to file disputes so I can tell them we were all mistaken. Santander Loans is just misunderstood. They really are doing their best to help their customers.

Thank you so much again for helping me rethink my life and what I was doing wrong. I'm assuming you're a credit expert of some sort, judging by how much help you give everyone here, maybe you're a credit counselor or perhaps a banker of some sort? I was wondering if you have any other advice for me. I'd be eternally grateful for any other help you can give me in fixing my life- evidently I've been going about it all wrong!!!

You have my eteral gratitude for your wisdom.

Sincerely, Katelin

You actually hurt yourself in 2 ways by paying on this old charge off.

The first is that you reaffirmed a debt that was close to the expiration of the statute of limitations in TX. If you would have waited for only a couple of months you would have been free and clear of being able to be successfully sued.

The second thing that you need to understand about credit is that the older a negative is, the less impact it has on your score, but when you have "activity" on the account, you make it more recent for scoring purposes.

Also note that paying on a chargeoff or even paying it off in full will NOT remove that item from your credit report, or help your score. Therefore, there was absolutely no reason for you to pay on this old account.

Also understand that the fact that Santander bought the defaulted loan does not restart the 7 year credit reporting SOL, nor does it restart the SOL for legal process.

And, forget the BBB! They have absolutely no power or authority to do anything to anyone. They are NOT any form of government agency or consumer protection organization. They ARE a "for profit" BUSINESS. They could care less about your problem. They only care about extorting membership fees from business owners in exchange for a "favorable" rating! The BBB is a corrupt and useless organization that is obsolete. And just the fact that you relied on them for help tells me that you are pretty clueless as to how things work in the real world. And, FYI..The FTC has no authority either in this case. Your complaint to them was just another waste of time and paper.

Also, after "charge off" interest is reduced as per federal law, and other fees and penalties stop. AND, it is ILLEGAL for "collection fees" to be added to your balance.

With all the damage you have done to your own situation, your ONLY option now is to get them in court and make them justify the balance owed, now that you re-affirmed it by making payments.

Knowledge is power, so you should ALWAYS educate yourself BEFORE taking any action that can hurt you.

You can do a dispute with the credit bureau for the re-aging of the account reporting. The negative reporting starts with the first major delinquency and ends 7 years after that date. This time starts only with the original creditor and never changes no matter how many times it is sold or assigned for collections.