Vehicle loan or lease -- Managing the loan or lease -- Complaint #10082397
Complaint Overview
Complaint ID: 10082397
Company: First Citizens Bancshares, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Problem with fees charged
State: Georgia
ZIP Code: 30078
Date Received: 2024-09-09T12:00:00-05:00
Date Sent to Company: 2024-09-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am writing to formally submit a complaint against First Citizens Bank regarding predatory lending practices that have put me in a financially devastating situation. I obtained a {$18000.00} loan for a chip trailer from First Citizens Bank. Despite diligently making payments for two years, I recently discovered that my loan balance has inexplicably increased exponentially and they offered to sell it back to me for the original loan amount two years later. The bank claims that I owe inexplicable fees and they continue to add late fees on top of this amount. Shockingly, none of my payments have been applied to the loan 's principal. I have asked the bank for a traditional loan, but instead, I am now facing what appears to be fraudulent and predatory loan terms. The bank is threatening to repossess the truck, which is essential to my business, thereby further jeopardizing my financial stability. This situation has caused me significant emotional distress and financial strain, and I believe that First Citizens Bank 's practices may violate federal laws protecting consumers from unfair and deceptive lending practices. I respectfully request the CFPB 's intervention to investigate this matter and hold First Citizens Bank accountable for any violations. Please advise on any further information you may require to process this complaint. I appreciate your immediate attention to this serious issue.
Frequently Asked Questions
What is Complaint #10082397 about?
Complaint #10082397 was filed against First Citizens Bancshares, INC. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2024-09-09T12:00:00-05:00.
How did First Citizens Bancshares, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against First Citizens Bancshares, INC.?
Yes, visit the First Citizens Bancshares, INC. company profile at readthecomplaint.com/company/first-citizens-bancshares-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.