Vehicle loan or lease -- Repossession -- Complaint #12606535
Complaint Overview
Complaint ID: 12606535
Company: Santander Holdings USA, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: Massachusetts
ZIP Code: 01201
Date Received: 2025-03-21T12:00:00-05:00
Date Sent to Company: 2025-03-21T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I cosigned a loan for my son and he wasn't paying the payments. I wasn't notified until they came to repossess the vehicle. They wouldn't let us pay just the amount behind in payments, they wanted the entire loan amount of the entire loan. They only gave us 14 days to pay the entire amount. They sold the vehicle at an auction and then left me with a balance of {$9500.00}. I cosigned to help my son and he has a brain injury and I needed to be notified immediately after 1 payment was late let alone they let him miss 6 before they sent a tow truck for repossession. I know from my banking institution that Santander has suits against them for bad loan practices and was maybe wondering if this was my case? I was on my journey this year to try for a mortgage, I cleaned up all my bad credit and did everything right and paid things on time consistently for XXXX XXXX on my own vehicle loan and my credit cards and this has Set my journey behind and leaving me with a huge bill to pay before I can buy a house or get a mortgage. I feel very defeated and duped.
Frequently Asked Questions
What is Complaint #12606535 about?
Complaint #12606535 was filed against Santander Holdings USA, INC. regarding Vehicle loan or lease specifically about Repossession. It was received by the CFPB on 2025-03-21T12:00:00-05:00.
How did Santander Holdings USA, 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 Santander Holdings USA, INC.?
Yes, visit the Santander Holdings USA, INC. company profile at readthecomplaint.com/company/santander-holdings-usa-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.