Help with Santander!

[lks638]

Hey guys,

I was curious if anyone has had any experience working with Santander.  A little back story, I had bought a Dodge Caliber, brand new... long story short, that was the biggest mistake of my life.   The loan was originally financed through Sovereign Bank, the car was a lemon and I was fighting Chrysler to take it back.  As everyone knows, Chrysler filled for bankruptcy, and everyone else was left holding the boat. So eventually I voluntarily surrended the car because it was a hunk of crap, dealers wouldn't even offer a trade once they looked up the repair records, and cost me more to keep than it was worth.

Fast-forward to today, I have an old account with a balance (~$5,400) from Santander, they have never tried to contact me, or to collect, and the statute of limitations has passed for the state the contract was signed (New Hampshire - 3 years).  It's one major bad mark on my credit, and I really don't know how to tackle it without further exposing myself.  In the limited contact I have had with Santander, they are rude, and very difficult to deal with.

Help!

[Globalgirl]

Hi, 

I currently have a loan with Santander and I must agree that they are rude and very difficult to work with.. just to give you a little history of my situation with them, they purchased my auto loan from Citifnanical August 2010. The first couple of payments that I made went through fine. Well, for the month of October they decided to post my payment to someone elses account. I had to send them a copy of my cancelled check and proof from the bank that it actuallY cleared so they could apply it to my account. I said sure no problem, but you will need to make the necessary corrections if you've already reported my account as 30 days past due to the CRAs. They agreed. Well it's 2 years later and I'm still fighting with them to remove the 30 day late notation from my report. I know this doesn't answer your question but just wanted to share my experience with Santander. Good luck with your situation! 

I'm paying off my loan this week thank goodness! 

[lks638]

Ugh they are the worst, I have no idea how to tackle the situation as I obviously do not want to make it worse.  

[RobertEG]

My primary question would be, what is the possible exposure that raises your concern?

If they have never contacted you, and SOL has expired, is your primary concern simply that the issue of unpaid, delinquent debt will arise in some process not yet occured, such as a mortage app process?

How do you have an "account" with Santander if they have never contacted you?

Who did you voluntarily submit the vehicle to, and what was the final accounting on the debt after their disposal of the property?  Santander?

[lks638]

No, the vehicle was surrendered to Sovereign the final accounting was done by Sovereign as well, roughly a year before they were bought by Santander. (~$5,400)   The exposure I am trying to limit, is restarting the SOL, and getting sued for the deficit.  And yes, like most people, I'd really like to buy a house! 

With all that said, I realize, morally I should just pony up and repay the debt, however, on the flip side, I was totally wronged and screwed to the wall by Chysler, who eventually sent a letter, basically rubbing their legal immunity in my face, some 2 years later, with a small check, which was basically just taken by my lawyer from the suit.  So Santander and I got to foot the bill for my 2007 Lemon, while Chrysler gets infused with tax dollars and moves on to a happier profitable life.  Makes me crazy thinking about it. 

I know the "account" is with Santander now, because it shows as sold to them on my credit report.  I am trying to figure out the best way to tackle it, I mean I don't think there is a pretty answer to this. 

[Shogun]

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@lks638 wrote:

No, the vehicle was surrendered to Sovereign the final accounting was done by Sovereign as well, roughly a year before they were bought by Santander. (~$5,400)   The exposure I am trying to limit, is restarting the SOL, and getting sued for the deficit.  And yes, like most people, I'd really like to buy a house! 

With all that said, I realize, morally I should just pony up and repay the debt, however, on the flip side, I was totally wronged and screwed to the wall by Chysler, who eventually sent a letter, basically rubbing their legal immunity in my face, some 2 years later, with a small check, which was basically just taken by my lawyer from the suit.  So Santander and I got to foot the bill for my 2007 Lemon, while Chrysler gets infused with tax dollars and moves on to a happier profitable life.  Makes me crazy thinking about it. 

I know the "account" is with Santander now, because it shows as sold to them on my credit report.  I am trying to figure out the best way to tackle it, I mean I don't think there is a pretty answer to this. 

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There is no resetting of the SOL or the CRTP by Santander.  They must follow the original DOFD from the original lender.  The only way to restart the clock to to agree to new terms with Santander or start payments with them in some states.