Santander Multistate Settlement {Jan} Relief To Consumers

Santander Multistate Settlement 2020

Santander Multistate Settlement {Jan} Relief To Consumers >> This article will tell about how an auto financing company violated the rights of customers and ended up paying millions of dollars as a settlement.

Are you someone who was deceived by Santander auto loan services? If you are someone who has had their vehicle financed from Santander and were taken advantage of, please read on as we tell you about Santander Multistate SettlementThis settlement will offer relief to those who were cheated by Santander and put an end to the unfair lending practises followed by the company.

Santander is one of the largest auto financing companies in the United States. Who could have imagined that they would mislead their consumers into loans that they could not afford in the first place? Let’s tell you all about the settlement and how you can know if you qualify for this settlement in the first place. 

All About Santander and the Settlement

As an auto loan financing company, when you give out loans, there are certain criteria a customer has to meet. Santander, however, would give out loans to people without any strict verification. These customers who were looking to improve their credit, and were already rejected by other lenders, would readily agree to pay higher interest rates. 

Many people in the United States have fallen prey to this scam. The problem started as ultimately, the amount was too much for them to pay, and in the end, Santander would seize the vehicle. 

A panel of 34 attorneys, led by Attorney General Kwame Raoul, reached a $550 million settlement with Santander. There are also other waivers expected for some consumers. Santander violated the laws for consumer protection, and Santander Multistate Settlement aims to resolve this.

How do you know if you qualify?

If you took a loan from Santander between Jan 1, 2010, and Dec 31, 2019, there is a chance that you might be eligible for the settlement and you can expect atleast $244.80. 

Head to Santander’s website and check if your state qualifies for the settlement. The States are further looking to reach out to customers who are eligible for the compensation. 

There are also contact numbers mentioned on the website of the settlement administrators that you can reach out to. They will give you the details of whether you qualify for itIf you qualify for the Santander Multistate Settlement, you would have received a notice from the company.

There are a few scams doing rounds in the name of the settlement. Please do not give out any information on calls or emails.  

Final Views

Our advice to all you consumers is that you should be careful when you enter into such agreements with a company. Doesn’t matter how small or large the company is, make sure you check your sources before you make a huge investment like a vehicle loan. Please head to Santander’s website and see if you qualify for Santander Multistate Settlement

In the comment section below, please share your views and suggestions about the settlement. 

9 thoughts on “Santander Multistate Settlement {Jan} Relief To Consumers

  1. I had to file for bankruptcy in California back in Aug 2019. The creditors attorney never appeared for the court trustee meeting, but did appear by telephone to a special bankruptcy hearing that I had requested. So, it is apparent to me, that the attorney representing Santander Inc., Chrysler Capital, knew about this ongoing case at the time of the hearing. Which, he refused to lower the interest rate on the car loan to reaffirm the loan at a lower monthly payment, for me. At this time, I had at least $6700 invested into the loan. I wonder, if, I will get this refunded to me in the settlement?

  2. This is about the worst website i could not find out any information that I wanted it is a advertising website for other businessess

  3. Yes I had my car repossessed in August 2019 . I how and where do I submit my information. My credit was sorely impacted. The car wss repossessed with the title in the glove box.

  4. I took out a loan in 2017 with Santander, they charged me twice for the loan. Last year I became ill with the Covid-19 and couldn’t work for months. Santander put me on a plane for couple of months. Since the first of the year I have been trying to keep my payment paid However, Santander charged all kinds of fees and now threatening to repossess my car in the next few days. I have not been able to catch up, while they continue to raise fees. I want to do the right thing with my bills, but they only care about taking the car, it seems like I still owe the the same thing I paid for the car. I have had this car for four years and till owe over 13,000
    I need help with this matter. Last year I joined the lawsuit and haven’t had any response.

  5. This is not right to allow Santander to pick and chose who to compensate. We struggled to pay the enourmous amount each month, but still not pat of suit. Santander contacted me via email stating they will look into it, well to date they still haven’t contacted us. They have however one customer representative that provides information at least as to the websites to check, but these give no information to help. This is such a mess an people who deserve to be compensated are being missed in the draw of things.

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