Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #5080225
Complaint Overview
Complaint ID: 5080225
Company: Truist Financial Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Problems at the end of the loan or lease
Sub-Issue: Problem with paying off the loan
State: South Carolina
ZIP Code: 29910
Date Received: 2022-01-06T12:00:00-05:00
Date Sent to Company: 2022-01-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XX/XX/XXXX I requested a payoff quote for my vehicle from XXXX. They emailed me a quote the same day showing a payoff amount of {$3600.00} with a expiration date of XX/XX/XXXX. On XX/XX/XXXX I sent in the full payoff by check. On or around XX/XX/XXXX they attempted to withdrawal my car payment, even though they had the payoff funds. I called the company to ask why they were pulling a payment. I was told that they did have the funds, but they had not been processed yet. They said to place a stop on the payment with my bank, as the loan would be satisfied in the next few days. Now they are telling me that my loan is not satisfied unless I make that payment, but I paid the amount listed on the payoff quote long before the expiration date. I think they held my payoff funds to exploit another payment from me. They have tried to pull that payment again, which caused my account to be charged a NSF fee. Ive spoken to an Operations Manager named XXXX several times. On XX/XX/XXXX he verified that the funds to payoff the loan were in suspense and would be applied over the next two days. He promised me a call back on XX/XX/XXXX, which never happened. I called back today XX/XX/XXXX, and was told that the payoff was short by the monthly payment amount of {$230.00}. Why would they try pulling a payment when they had the full payoff amount in hand? This company is trying to exploit XXXX XXXX.
Frequently Asked Questions
What is Complaint #5080225 about?
Complaint #5080225 was filed against Truist Financial Corporation regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2022-01-06T12:00:00-05:00.
How did Truist Financial Corporation 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 Truist Financial Corporation?
Yes, visit the Truist Financial Corporation company profile at readthecomplaint.com/company/truist-financial-corporation 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.