BB&T Financial Consumer Loan Complaint

Vehicle loan Managing the loan or lease

BB&T Financial Consumer Loan department,

Vehicle loan Managing the loan or lease Maryland

Hi, I have an account with BB & T # - I pay monthly car loan payment of $470.00 and recently I paid Extra Payment ( Second bi-monthly payment ) to reduce the principal but it went towards interest. I understand bank always finds a way to get money from customer but I want to reduce the principal as well. I filed several case with CFPB and finally I had a chat with - -, BB & T Branch banker, He explained everything and it was very clear until my second extra payment went towards interest, He told me any payment amount over $470.00 will go towards to reduce the principal but he lied. It went straight to interest. $2.00 made on -/-/2016. I was going to make more amount but I was afraid they charge extra interest and they did even after they said extra payment will reduce Principal, not deducted as interest. Right, now I 'm really disappointed and I want them to put $2.00 toward principal as they promised or I was $2.00 back.

BB&T Financial customer in Maryland
Apr 11, 2016

* Source: CFPB Complaint Database

BB&T Financial response to complaint:
Closed with explanation

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