Santander issues and question

[jamescox1969]

Bought a SUV (Mercury Mountaineer) in '04 with a sub-prime lender (believe it was Triad) and long story short, Santander ending up buying the loan in/around 2009. During that same time frame, lost my job, got behind, Santander contacted me and believe it or not, after I explained my circumstances, "said" they would "modify" the loan; and after an "earnest" payment, loan went from $495/month at like 18% interest (yeah I know but i needed a car) to $190/mnth with at around 7% interest; they "agreed" to get absorb the late fees and interest into the "new note" if I agreed to do another year or two in payments at the new amount of $190/mnth. HOORAY! Yeah right. Here's where it gets "sticky". I was "told" and I asked for, copies of paperwork to sign to show this loan "modification", after all, paper rules right? I wanted this paper work because I found it hard to believe they would "mod" late fees and interest. In the beginning (early 2010), it LOOKED that way! My new maturity date was 3/17/2012, last payment was like $55. Bear in mind, I started to see "unpaid fees and charges" on my paperbill and I simply ignored it. After all, they said all that stuff was supposed to be "taken care of" in the mod. Well, they haven't threatened anything......yet., but I keep getting bills for the unpaid fees and charges of $1005.35 and of course no title, which i gotta assume is because of these d*** fees. Why am I writing you guys? Well, I want to know if anyone else has experienced this? (2) What can I do NOW before things start to get nasty (they don't have my current phone number...yet, so no unrelenting calls) I really don't have the $1K to give them and I don't feel like I should have to....THEY agreed to "absorb" interest and fees in favor of keeping the loan current for me so I could pay it off. And although I don't have the mod in hand, would courts find it strange to see payments go all the way down from almost $500 down to $190;.

what's my next move here?

Thanks for your patience in reading this.

[legaleagle]

I would give this to your state banking commission. These idiots have to be licensed to do business in your state.

[Coltfan1972]

As you correctly posted, paper rules. This is really very simple, it will come down to what the written contract states.

[TomnTex]

If I am not mistaken, Santander bought out GEfunancing and other companies here in the states. They are big over seas. Long story short, they have a lot of law suits against them and a few class action suits. I found this out last week on a simple Google of them and reading some forums started by people that are trying to sue them. All in all, a bad bunch.

Edited April 14, 2012 by TomnTex

[BTO429]

You need to pm me ,,,,,,I have a class action against Santander right now for all the crap they have been pulling over the years.

[BTO429]

also do not rely on anything they tell you on the phone they will repo that suv in a heartbeat, they are crooks.

They repoed my truck three times but I still have the truck because of the way they handled the repo and the paper work. Ont repo agent took my truck at 4:30 am I had just got home from being out of state I went in the house to the basement and realized I had left my wallet in the truck with 2500 bucks in it. I ran out to get my wallet and the truck was on his wrecker.

I told hime I needed my wallet out of my truck and he pulled a tire tool out of his wrecker and told me to try and get it. I called the police and they caught him 20 miles down the road and arrested him for intimidation, theft an an illegal repo. He is now not a repo agent any more. That was five years ago, and this was one reason I decide to go to law school.

Be weary of anything Santander tells you.

[legaleagle]

I told hime I needed my wallet out of my truck and he pulled a tire tool out of his wrecker and told me to try and get it.

Wrong thing to say to a Marine! He's lucky he's still walking around. Me, I would have shot him full of holes.

[BTO429]

My weapon was in the house at the time or,,,,,

it was hard to refrain from what I wanted to do but I forced myself to use the law. It worked. for once

[usagi555]

Well, raising a tire iron to you could be construed as an imminent threat of great bodily harm or death. I certainly don't want to get hit in the head by one. However, you're right. Even if justified, the legal headache alone from doing that is going to be 100x worse than getting sued over CC debt.

[jamescox1969]

Thanks EVERYONE!

Gunny; how do I PM you? forgive me, I'm not to high speed on tech stuff (not an idiot but you know)

btw, spent eight yrs in the Army...not the Corps, but hey, we can't all be one of the few...the proud. I was a Finance Corps officer (few years hard striper b4 I went to OCS)

anyhoo...any advice on what to do next? Only thing they are doing now is send letters monthly showing my "late fees balance" and a maturity date of March 17th, this year. Yeah, the idiots are showing I paid it off last month but I keep getting correspondence.

geez

[BTO429]

they did the same to me. After I made my last payment they told me I still owed 8000 dollars in fess and other junk.

They have a lot of suits against them right now. Their fee and interest rates are illegal.

I had my loan for 9% until Santander bought the loan, first thing they did was raise the interest to 29.99%. This was while I was on active duty for operation Iraqi Freedom. They refused to lower the rates.

[cajun_duck]

Mine was purchased by them a few years ago as well. My truck was around $18,000. I have a 72 month loan, I have paid about $22,000 now and still owe $9,000 according to them with 2 years left. This is eating my @ss. Sorry, just needed to vent.

[BTO429]

Sokolove law firm in Massachusetts

866-444-9876 they have one of the biggest class action suits against Sanatander right now, there are so many violations from Santander I do not know where to begin.

Call them see what they say.