SunTrust Banks, Inc. Consumer Loan Complaint

SunTrust Banks, Inc. Consumer Loan department,

Installment loan Managing the loan or lease Florida

We established an equity line with SunTrust Bank, using our primary residence as collateral several years ago. While we spend six months a year out of state, we have our mail forwarded. Our last monthly statement from SunTrust was recieved on -. We religiously sent SunTrust $300.00 every month irregardless, depending on hearing from them if there were any changes or problems. Upon returning to our primary residence in -, I recieved a call from SunTrust 's collection department demanding nearly $4000.00 in late payments plus fees. It was then learned that our payments were increased to over $800.00 permonth back in -/-/-. We checked with our post office and learned that if mailing envelopes from financial institutions do not instruct them not to forward correspondence, the mail is forwarded. SunTrust does not request the post office to not forward mail. This represents both unprofessional and unethical practices on the part of SunTrust. Not only are we faced with dealing with a rather large surprise obligation, but the bank still has the gall to charge fees on top of this unjustice. It is unexcusable for the bank to not try to communicate with us regarding this matter, or to be assured the correspondence be forwarded. When I brought this matter to SunTrust 's attention, they blamed the post office for returning all mail. It should be noted that all other first class mail was forwarded as ordered. This not only caused us a financial burden, but also affected out credit. We believe that SunTrust should have negated the increased obligation since -, advised us of our increased loan payment and we would have gladly gone along with that. It would be interesting to ascertain just how many other customers experienced similiar treatment.