• Report: #815623

Complaint Review: santanders

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  • Submitted: Thu, December 29, 2011
  • Updated: Thu, December 29, 2011

  • Reported By: sherman — oakland California United States of America
santanders
P.O. Box 562088, Suite 900-North dallas, Texas United States of America

santanders triad ripofff the disabled dallas, Texas

*Consumer Comment: Really?

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two years ago i got an insurance payment of $10,000 to pay off my car loan with Triad. i contacted Triad and agreed to pay them the money to payoff my loan of  $11000. the agent told me she spoke with her supervisor and if i could get them the payment of $10000 they would settle the loan.  4 weeks later i called them to get my lean satisfied papers and found out they went out of business. not being able to contact them i went on thinking our business was concluded. two years later at 7a.m.

i got a call from santander financial stating " we have bought your loan of $1600 from triad and you must start making payments of $389. at 23% interest on the original purchase price of 14k  i almost died. i explained my agreement with Triad and they told me "we see the $10,000 payment but its not shown as a payoff it was a $10.000 payment. who the hell pays $10,000 dollars and leaves a balance of $1600 hanging for 2 years?. and i was never contacted by either companies for 2 years. im in a wheelchair and on ssi and my car is my only hope of independence . now santander wants to repossess my car. triad cant be contacted this is so unfair

This report was posted on Ripoff Report on 12/29/2011 07:22 PM and is a permanent record located here: http://www.ripoffreport.com/r/santanders/-dallas-Texas-75247/santanders-triad-ripofff-the-disabled-dallas-Texas-815623. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Really?

AUTHOR: Robert - (U.S.A.)

Sorry but you being disabled has NOTHING to do with this report.

who the hell pays $10,000 dollars and leaves a balance of $1600 hanging for 2 years?
-Ummm..you did.  Unless you have something in writing from Triad saying that you are paid in full unfortunately you are probably going to have to pay the amount.  This is exactly why you NEVER agree to any "settlements" unless they are in writing.

Whether or not you think it is "unfair", if you don't have something that says you are paid in full or you don't make the payments they probably have every legal right to repossess it, and it wouldn't matter if you were disabled or not.

Now, it seems as if that $10,000 payment probably put you "ahead" so you were not actually delinquent until recently so in reality they had no reason to contact you.  But because the balance still accrues interest your balance kept going up, and $500 interest on $1000 in two years sounds about right.

If you don't have something in writing from them that says your loan is paid in full I would suggest that for $1,600 you look at getting a loan from your bank.  If in fact this car has been showing a positive history your credit may be good enough to do this especially if the car is worth more than $1,600. 

But at the very least think of the one positive..at least they didn't loose your 10K payment.
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