SunTrust Banks, Inc. Consumer Loan Complaint

SunTrust Banks, Inc. Consumer Loan department,

Vehicle loan Managing the loan or lease Georgia

On - -, -, we turned-over our - - - to a - dealership, in the process of participating in - court-ordered buy-back of - vehicles. That program provided for a cash-payment to us ( made, through - Bank, via EFT ) and a settlement payment to the vehicle 's lien holder, SunTrust bank. Because the buy-back process was protracted, and because we were forced to continue to make payments on the loan in the interim between agreement with - and the actual buy-back closing, the amount actually owed to SunTrust on the vehicle at the closing was substantially less than the amount due to SunTrust on the loan. Specifically, - - - paid a total of $1200.00 to settle our loan, when at that time only $220.00 was actually due, in total, on the loan. After several subsequent inquiries to the bank about that payment, we have, finally, been advised that the remaining amount due on the loan of $220.00 is shown as paid, and the loan is closed. However, the overpaid amount of $990.00 has not been remitted to us, but is " scheduled '' to be paid, via check, on - -. In response to our request that the Bank explain the extraordinary delay in remitting payment to us, we were informed that the Bank had to ensure that the " funds cleared ''. Very simply, our complaint is that, by - - SunTrust Bank will have been in possession of $990.00 in those very obviously overpaid funds for more than 30 days ... well in excess of any reasonably determined " fund-verification period '', and that they are, in fact, illegally and unreasonably delaying refund to us.