Vehicle loan or lease -- Managing the loan or lease -- Complaint #5686840
Complaint Overview
Complaint ID: 5686840
Company: Community Financial System, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Billing problem
State: Pennsylvania
ZIP Code: 169XX
Date Received: 2022-06-19T12:00:00-05:00
Date Sent to Company: 2022-07-05T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have a loan from XXXX XXXX Bank, now Community Bank in NY. It's for a usedXX/XX/XXXX. I want to pay it off. I have 23 payments left. XXXX is the monthly payment. The bank is telling me the payoff is XXXX as of XX/XX/17. That is a total of the monthly payments. I have called 3 times requesting the principal balance and I keep getting told the XXXX is what I owe to pay off the loan. I thought maybe they already got all of their interest in the way the payment was setup. That is not the case. Their website and the 3 people that I have talked to tell me the same thing. There is nowhere on the site to pay the principal. I'm being forced to pay interest on a loan I can payoff now. I know if I just make a large payment, it will be applied as if I'm just paid ahead. Not reducing the principal balance whereby reducing the amount of interest.
Frequently Asked Questions
What is Complaint #5686840 about?
Complaint #5686840 was filed against Community Financial System, INC. regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2022-06-19T12:00:00-05:00.
How did Community Financial System, 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 Community Financial System, INC.?
Yes, visit the Community Financial System, INC. company profile at readthecomplaint.com/company/community-financial-system-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.