Vehicle loan or lease -- Managing the loan or lease -- Complaint #5031609
Complaint Overview
Complaint ID: 5031609
Company: Pentagon Federal Credit Union
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: North Carolina
ZIP Code: 28504
Date Received: 2021-12-21T12:00:00-05:00
Date Sent to Company: 2021-12-21T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I completed an auto loan with PenFed ( jointly with my Dad ) in XXXX. XX/XX/XXXX I totaled my truck due to Hurricane Florence. I immediately filed insurance and XXXX claim that I purchased through dealership. After no contact from PenFed, I called them in early XXXX to ensure my balance was satisfied and the rep assured me that my loan was settled IN FULL. XXXX ' of this year ( XXXX - 38 months following ) I was told by another lender that I had a delinquent loan with PenFed with a balance of around {$1500.00}. My fiance and I have called numerous times with countless broken promises of investigation. Multiple reps informed that I owed the balance but couldn't determine why. Meanwhile, my credit ( livelihood ) is deteriorating by the day. I finally spoke with one rep that encouraged me to contact the XXXX company. XXXX advised that my insurance compant did not add the towing/camper package to my settlement amount ( {$430.00} ) and they did not pay this portion ( of course I was never advised ). I then contacted my insurance company ( XXXX XXXXXXXX XXXX ) and they stated that PenFed sent them a letter of guarantee that confirmed the amount that they offered to settle ( {$28000.00} ) -- They weren't ever notified that the towing package was not added properly to the settlement and we have now surpassed the three year period. The insurance agent sent me the Letter of Guarantee from PenFed and a copy of the cleared check that they negotiated for the total loss - PenFed cashed this check on XX/XX/XXXX but did not apply to my loan balance until XX/XX/XXXX until they received the XXXX settlement ( two reps advised me that they can not process the insurance check without XXXX -- So, I was charged 112 days of interest on {$28000.00} unnecessarily ). Today, after ANOTHER rep stated " Ma'am, you just owe the balance, you didn't pay it off completely and it's too far back for me to understand why '', I demanded to speak to management. " XXXX '' over collections advised that he did see notation that a rep advised me in early XXXX that my full balance was settled and apologized for this. I haven't been sent a statement since the end of XXXX - No knowledge of a left over balance or discrepancy with insurance/GAP. XXXX advised he is contacting his " management near the West Coast '' but no time frame of resolution. I just had a newborn son in XXXX and I plan to purchase a house for my family. This has significantly reduced my credit worthiness when I have worked so hard to improve it ( for my family ) over the last two years. I did not mind paying a balance if I truly owed it but over ten employees could not determine why and/or how I owed a remaining balance -- " I just did. '' I am hoping my disputes sent to XXXX, CFPB, and XXXX will ensure PenFed will contact me and make this right. I am truly at a loss of words of how unethical and poorly treated I have been since I was made aware of the remaining balance a couple months ago. This situation does not sit right with me and I want to ensure it does not happen to anyone else. Thank you in advance,
Frequently Asked Questions
What is Complaint #5031609 about?
Complaint #5031609 was filed against Pentagon Federal Credit Union regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2021-12-21T12:00:00-05:00.
How did Pentagon Federal Credit Union respond to this complaint?
The company responded with: "Closed with monetary relief". 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 Pentagon Federal Credit Union?
Yes, visit the Pentagon Federal Credit Union company profile at readthecomplaint.com/company/pentagon-federal-credit-union 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.