Credit card or prepaid card -- Struggling to pay your bill -- Complaint #5069224
Complaint Overview
Complaint ID: 5069224
Company: Santander Bank, National Association
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Struggling to pay your bill
Sub-Issue: Credit card company won't work with you while you're going through financial hardship
State: New Jersey
ZIP Code: 08816
Date Received: 2022-01-04T12:00:00-05:00
Date Sent to Company: 2022-01-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have 2 credit cards with Santander bank which were under forbearance due to a reduced income due to Covid. The cards were under forbearance for 6 months after which time I requested an account review because I was no longer to afford the payments due to a continued reduced income. I was told the accounts had to go 45 past due before I would be helped. After this time, I called and spoke to a Representative with whom I gave all my monthly expenses ( and who also told me I did not have to wait 45 days to go past due ). After this calculation, I had about $ 600 month left to pay these 2 cards. However the Representative told me her system was showing that I did not have enough money to pay them every month ( which is true at a 20 % interest rate which was why I was trying to get the interest rate reduced- all of my other creditors have reduced the rate to 0 % and/or reduced the amount owed ). If they had used a lower interest rate I would be able to pay them which was the goal of my call for the workout plan to begin with. She told me I could continue paying but that there was nothing they could do to help me reduce the payments/rate and that the 2 accounts would Charge Off after 180 days. I was shocked that the bank was taking this position, so I contacted an Attorney to try and reason and negotiate a lower payment but they still declined any offer to help, despite our Good Faith attempts. We were told the bank would rather take the Charge Off than lower the interest rate.
Frequently Asked Questions
What is Complaint #5069224 about?
Complaint #5069224 was filed against Santander Bank, National Association regarding Credit card or prepaid card specifically about Struggling to pay your bill. It was received by the CFPB on 2022-01-04T12:00:00-05:00.
How did Santander Bank, National Association 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 (Credit card or prepaid card) and describe your issue in detail.
Can I see other complaints against Santander Bank, National Association?
Yes, visit the Santander Bank, National Association company profile at readthecomplaint.com/company/santander-bank-national-association 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.