Vehicle loan or lease -- Struggling to pay your loan -- Complaint #5733931
Complaint Overview
Complaint ID: 5733931
Company: Mercedes Benz Financial Services
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Struggling to pay your loan
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: Texas
ZIP Code: 774XX
Date Received: 2022-07-04T12:00:00-05:00
Date Sent to Company: 2022-07-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I leased a vehicle through Mercedes Benz Financial on XX/XX/2019 with an initial balance of {$62000.00}. I was making regular payments on it, but my ex-husband left me, and I lost 50 % of my income. I could no longer afford the vehicle, so instead of just not making payments or waiting for it to be repossessed, I voluntarily surrendered it. I knew this would negatively impact my credit score, but I thought it was the most ethical thing to do. I returned the vehicle in mint condition on XX/XX/2019, and I had only had it for 4 months. Mercedes Benz Financial quickly sold the vehicle, but they began sending me letters to pay the full lease balance with penalties. They started harassing me, calling me late at night, and early in the morning. They were sending letters to my job as well as my house. Whenever I would block the number, they would come up with another number, and I just keep having to block them. Currently, I have over 65 blocked numbers from them, and it just keeps going and going. This routinely disrupts meetings, my sleep, and other important events. I work two full-time jobs and often work overnight, so I am typically sleeping when they call. This wakes me up, and I can not go back to sleep. It has become overwhelming and oppressive. I have contacted MB Financial and have filed multiple disputes through the credit reporting agencies, but they always aggressively respond that the balance is valid. This is not correct because I voluntarily surrendered the vehicle, and according to the lease terms, they were supposed to apply the money they received from the sale of the vehicle to the balance based on current market value. Instead, they charged me for the full remaining payments on the lease plus penalty. They did not apply any money from the sale of the vehicle. This is really hurting my credit, and I have no options at this point other than filing a complaint through your agency. Please help me.
Frequently Asked Questions
What is Complaint #5733931 about?
Complaint #5733931 was filed against Mercedes Benz Financial Services regarding Vehicle loan or lease specifically about Struggling to pay your loan. It was received by the CFPB on 2022-07-04T12:00:00-05:00.
How did Mercedes Benz Financial Services 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 Mercedes Benz Financial Services?
Yes, visit the Mercedes Benz Financial Services company profile at readthecomplaint.com/company/mercedes-benz-financial-services 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.