Conns Home Plus and Santander GWs

[Anonymous]

Good afternoon all,

I have been in credit rebuild mode for a while now and am approaching the last couple of things I need to tackle. I went through a tough period and had 4 late payments with Conns, and then have 1 late with Santander. Unfortunately both of these companies don't seem to be too cooperative from my searches.

With that being said I was curious as to whether any have had success with them? Would love if someone could PM me any additional points of contact or emails/addresses to send letters to so that I can begin sending some over.

Thanks!

[Anonymous]

I had an auto loan with Santander before filing CH7. Upon our initial file, we chose to reaffirm the auto loan and keep the car, so that prompted me to question, "I wonder if this would give me any leverage with Santander to improve my the APR?" I called them after our attorney received the reaffirmation paperwork and gave them the spill, "We're filing Chapter 7 bankruptcy, and as of right now, we chose to reaffirm the loan, but the interest rate is awful, and if we can't get it down we will likely go in a different direction." After a very brief conversation, Santander took a hardline stance that they would, under no circumstances, reduce the APR of our loan. I proceeded to tell them that we would not reaffirm and that they could reclaim their property as soon as the law allowed. We haven't been protected by the automatic stay for about two months, and have been discharged for a week now, and haven't heard anything from them.

All that to say, we gave Santander the option to make more money with us reaffirming or reclaim their property, making substantially less at auction, and they chose the make less. Prior to filing, we had never been late with them. To me, it seems like it's their way or the highway.

[Anonymous]

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@Anonymous wrote:

I had an auto loan with Santander before filing CH7. Upon our initial file, we chose to reaffirm the auto loan and keep the car, so that prompted me to question, "I wonder if this would give me any leverage with Santander to improve my the APR?" I called them after our attorney received the reaffirmation paperwork and gave them the spill, "We're filing Chapter 7 bankruptcy, and as of right now, we chose to reaffirm the loan, but the interest rate is awful, and if we can't get it down we will likely go in a different direction." After a very brief conversation, Santander took a hardline stance that they would, under no circumstances, reduce the APR of our loan. I proceeded to tell them that we would not reaffirm and that they could reclaim their property as soon as the law allowed. We haven't been protected by the automatic stay for about two months, and have been discharged for a week now, and haven't heard anything from them.

All that to say, we gave Santander the option to make more money with us reaffirming or reclaim their property, making substantially less at auction, and they chose the make less. Prior to filing, we had never been late with them. To me, it seems like it's their way or the highway.

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Thats the vibe I have got too from all the posts I have uncovered in my searches. Very discouraging when at the tail end of a rebuild. Crazy that they wouldn't budge on their stance with you despite it being in their best interests.

[Anonymous]

Those were my sentiments as well. I purchased the car when my scores weren't great, so the interest rate was reflective of that. The amount of money they stood to gain by reducing my interest rate would have likely paid for the car, twice over. It was in my best interest to include in the bankrtupcy, but I figured that I would see what they would do.

If you have tried the goodwill attempt, maybe try a dispute through the CRA's and see if Santander verifies? Other than that, maybe reach out to the corporate office and escalate the issue up as far as you can. Although it can sometimes backfire, I have sent an email directly to a company's CEO before. My thought process behind this is, if you catch the CEO (or more likely his assistant) on a good day and they delegate the task, it seems much more pressing to the delegate coming from someone so important that the likely never deal with.