Santander Consumer USA Holdings Inc Consumer Loan Complaint

Santander Consumer USA Holdings Inc Consumer Loan department,

Vehicle loan Problems when you are unable to pay California

In 2009 my grandmother passed away, and I was given her car. I had purchased a car not too long before my grandmother had passed. I called the bank that I had a car loan with and explained my situation. I wanted to see what my options were. I asked them if it would be possible to return the car? I remember the person that I spoke with was really nice and he said that it would n't be a problem. I asked if anything would happen to my credit and he said, " No, since it would be a voluntary return of a car they would just resell it. '' I waited a little over a month before someone came an picked up the vehicle. I thought everything was ok and so I went on with my daily life. About a month later my car from my grandmother was running right and so I decided to sell it and use that money to purchase a new car. I wanted something reliable for myself and my daughter. At the dealership, they ran my credit. The loan agent said that I had a repossession on my credit and that I would


n't know at the time that voluntary repossession and a repossession is all the same thing. I explained to him what had happened. He said that we was n't surprised that this had happened to me. He has heard of banks doing this to several of people. I was young and very inexperience when it came to my credit and finances and just did n't know. I told the lender that I had a job and been working for several years. I could have kept the car and continued making my payments and had I known that my credit would be affected I would have kept the car or tried to sell it. The lender worked out a loan for me, but my interest rate was pretty high and almost 7 years later I am still dealing with this. My husband and I are trying to purchase a house give our children something we did n't have. This mistake has been haunting us for so long. The repossession is the first thing that pops up on my credit report and the banks do n't want to help us ... until now. We found a lender that is will to work with us if we are able to have this repossession move to the bottom of my credit report. I 'm praying for some grace! I 'm much older now and wiser. I 've been teaching my oldest daughter about credit and finances and how important it is to read and search on things before you sign anything. Do your research before you agree to anything. A very hard lesson I had to learn, but I learned it.