Payday loan, title loan, or personal loan -- Problem with the payoff process at the end of the loan -- Complaint #5206039
Complaint Overview
Complaint ID: 5206039
Company: Truist Financial Corporation
Product: Payday loan, title loan, or personal loan
Sub-Product: Title loan
Issue: Problem with the payoff process at the end of the loan
State: Texas
ZIP Code: 78130
Date Received: 2022-02-09T12:00:00-05:00
Date Sent to Company: 2022-02-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XX/XX/XXXX my insurance company, XXXX, paid my finance company, Regional Acceptance Corporation, a settlement check for {$8500.00}. The payoff amount is {$12000.00}, leaving a balance of {$3200.00}. I received a list of documents necessary in order to file the GAP Claim. I had to contact my auto dealership for the XXXX XXXX XXXX that was totaled by a deer on XX/XX/XXXX which I did, and they sent me the necessary paperwork. Then I had to contact my insurance company for specific paperwork which they sent to me in a prompt manner. Next, I had to ask my finance company, Regional Acceptance Corporation, for certain documents, as follows : Finance Agreement/Retail/Installment Contract, copy of signed GAP Addendum, their preferred GAP payment mailing address, my payment history which must show insurance check posting, all transactions from beginning of loan thru present and including running principal balance from beginning of loan thru present ; and the payoff as of date of the loss and how it was calculated. Date of loss is XX/XX/XXXX. Vehicle is a XXXX XXXX XXXX. Regional Acceptance Corporation still needs to send me their preferred GAP payment mailing address, my payment history, and the payoff as of the date of the loss and how it was calculated. I have emailed and called numerous times. I have provided a detailed contact spreadsheet.
Frequently Asked Questions
What is Complaint #5206039 about?
Complaint #5206039 was filed against Truist Financial Corporation regarding Payday loan, title loan, or personal loan specifically about Problem with the payoff process at the end of the loan. It was received by the CFPB on 2022-02-09T12:00:00-05:00.
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 (Payday loan, title loan, or personal loan) 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.