Vehicle loan or lease -- Managing the loan or lease -- Complaint #9490537
Complaint Overview
Complaint ID: 9490537
Company: BMO Bank National Association
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Managing the loan or lease
Sub-Issue: Loan sold or transferred to another company
State: Texas
ZIP Code: 78132
Date Received: 2024-07-11T12:00:00-05:00
Date Sent to Company: 2024-07-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I was never notified that my travel trailer loan sold from Bank of the West to BMO. My auto draft was cut off and I didnt know it wasnt being paid. I made every payment for 6 years auto pay. Never thought twice about it. Then starting getting calls from BMO and they said they needed to take to me. I dont bank with BMO so I thought they had wrong person. Never thinking it was my trailer loan. XXXX months after no payment they finally tell me interest urgent and they need to talk. I answer and they wont move payments, they dont have any kind of program to help and they said make payments XXXX times amount. I was going thru a divorce and I was learning my new budget. I made a payment then XXXX payment of XXXX? wasnt accepted but I got confirmation number then in XXXX paid XXXX and got confirmation, but money was not pulled. No voicemails saying anything. I finally get ahold of someone, after a month and an half calling and leaving messages, that they have closed my account and sent trailer to reposition. I learned my payments they said were being blocked but I had confirmation numbers. They lied and said I was already a high risk delinquent account from bank of the west and that I was already in their collection protocol when they bought the loan. I was a model loan customer never missing a payment or deadline. The only thing they said now is I have to come up with XXXX dollars to get loan back on track. Or they will repo it. I should just be able to restart payment and keep my trailer.. BMO has had terrible customer service and they should send a verified signature required letter with notification of sale and release of auto pay and new payment method and book before the sale goes thru.
Frequently Asked Questions
What is Complaint #9490537 about?
Complaint #9490537 was filed against BMO Bank National Association regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2024-07-11T12:00:00-05:00.
How did BMO 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 (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against BMO Bank National Association?
Yes, visit the BMO Bank National Association company profile at readthecomplaint.com/company/bmo-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.