Santander Auto Loan / incorrect credit reporting

1 NY, United States

My car loan was sold from Sovreign bank to Santander about a year and half ago. I never had a problem until my car was totaled in an accident. My insurance company promptly contacted Santander for a pay off amount so that I could receive a check for the balance and buy a new car. Santander received a check from my insurance company and I got a letter from Santander thanking me for my business and indicating that my loan was paid in full. About 2 weeks later, I got an email from my credit monitoring bureau indicating that negative information was entered by Santander. Santander notified all 3 credit bureaus that my car loan had been written off as bad debt and that I had an outstanding balance of approx $700. I called every day for over a week to no avail, every person indicated that they did not know where the $700 came from but that they were unable to correct it. I finally got a "manager" on the phone and he assured me that it would be corrected. I also filed a formal dispute with the credit bureaus attaching a copy of my paid in full letter. I just got back a letter from Transunion indicating that the information had already been corrected by Santander on my creidt report. When I looked at the report, Santander had changed the report to show that I had paid it off after it was sent to collections. I made EVERY payment on time and my report shows that. My credit score has now dropped over 50 points and I am considering legal action. I am also planning to call my local congressman and news channels and filing a complaint with my state's attorney general. I just looked up the name of the board of directors at Santander and mailing addresses as well. I will not tolerate this! If anyone knows of a law suit that I can join, I have documnetation and would be HAPPY to. I can be reached at [protected]

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