I have had an auto loan with Sovereign Bank since June 2007 and I can not wait to get out from under this loan. This has been the worst experience I have ever had with any banking center. You wait on hold forever to be told you need to call a different number. You can not make a payment over the phone or with a credit or debit card and if you mail in the payment it takes over 15-20 days for them to post it to your account. If they even receive the payment.
I currently am in dispute with this bank over two payments they say the did not receive. It is October 29, 2008 and I currently am trying refinance my auto loan (due to this situation) with my bank. I have been told that I am not approved because Soveriegn bank says I am 3 months behind on my other car note. Remind you I have not received any collection notices, any phone calls, nothing from this bank, not even a bill or statement.
I contacted Sovereign bank and was told on 10/26 that they did not receive Sept. 08 payment. I told them I mailed the payment on 9/25 in two money orders. They said they did not receive it. I called back the next day after I was panicing and talked to a supervisor who then said that they did receive the payment and they posted it the account 10/18/2008. She then proceedes to tell me that I am three months behind. I told her I spoke to a lady the other day who said Septembers payment was not received and she just told me they did get it, what is going on? I also told her that on 10/25 I sent her October's payment.
After 45 minutes of going through the account and a constant arguement of her raising her voice and calling me liar I asked her to please fax me a statement of my account and a payment history so I could compare her records with my receipts and bank account. She told me she could not due that and if they could I would have to pay for it. I told her that would be fine. If this is how we can get to the bottom of this issue I would pay for the fax. That was until she told me she was going to send someone to reposses my car and that she would do whatever she could to not allow me to refinance my loan.
It was at this point that I lost my temper and had a few choice words to say to her. After I calmed down I once again told her that I would fax her the bank statements that show where and when the money orders were purchased and that I would pay the fee's and track the money orders. I gave her the money order numbers of the payments that were sent in the mail for the month of October, that she should receive within 3-5 days, but may not post right away since it takes them 15-20 days to post anything that comes in thier office. (And they do charge you outrageouse late fee's for holding your payment past the grace period.) She told me NO. She did not care what proof I had and she was not going to accept any proof of purchase or proof of money orders. She said no matter what she is coming to get my vehicle.
I reminded her about certain laws and letters that have to be received in order to repo my vehicle. I have also tried to get in contact with a Vice President of collections, but no luck yet. I have not received any letters or phone calls about past due payment. She stated that collections has left messages on my home phone in August 2008. I have not had a home phone in over 4 years. They have my cell phone number and my work number as well as my fathers (co-signer) information and numbers. Neither one of us have been contacted by Sovereign Bank. I have been called a liar and some other choice words and have gotton no where. I have been denied credit due to this account and Sovereign Bank is making no effort to contact me, to see my proof of payment, or to help resolve this very serious issue. These are very nasty people.
All I have asked this bank for is a print out of payment history and to accept my proof of payment until the money orders are tracked (takes 4-6 weeks) to get the account current and to be on the same page.
I have not asked for the hard time, rude and nasty customer service, or to be placed on hold forever and hung up on. I am still fighting this with Sovereign and am waiting to see what happens. Not only have I been denied credit based on this one account but so has my father since he co-signed. I have tried everything to get this matter resolved quickly without the name calling and childlike behavior, but at this point I am running out of options. By the way, after all the yelling and telling me they are coming to get my vehicle, I still have not received a collection call or letter, nothing.
Anybody who may have had this happen or knows what to do at this point please let me know..
I warn anybody opening an account with this bank to be very careful and to look elsewhere for financing. I would never recommend this bank. I advise you to stay away.
Charlotte, North Carolina
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