Would like to know if anyone else has encountered this, because it's been several months of confusion/frustration. I'm at a point where I never want to take a personal loan with USAA again.
In September of 2017, I took out an auto loan for $5,000. 24 months at $240.95 per month, due to end on September of 2019 (this year). I was very dilligent about the monthly payments and added extra money when I could in the hopes of paying off the balance early. That ought to be a GOOD thing, right?
Problems began last Fall when USAA told me that I was behind and that I had a past due balance on my loan account. By my math, I was over $900 ahead!
This frustration has continued. I opened a case with the CEO's office earlier this year and they recategorized many of my payments to reflect that I was not ahead, but more up-to-date than they had originally claimed. It helped, but the numbers are still way off. I was given every reason to believe that what I was doing (trying to pay my balance off early to avoid incurring more interest) was correct, but I still have late charges on the account and delinquencies on my credit report that I should NOT have earned!
My auto loan's balance is due to be paid in full by September 1, 2019, which means I have four payments left to make. I owe $657.61. This SHOULD mean that either I owe $164.40 per month until the end of the term OR I only owe less than three payments (instead of four). I am STILL over $300 AHEAD of schedule on the loan, and yet I am getting repeated phone calls from collections and notices in the app stating that I have $148.01 past due??
This makes absolutely no sense to me. The late charges and credit report delinquencies need to be corrected by USAA, but no matter who I talk to, I seem to get the same answer: that it wasn't the bank's fault and if I want to change the terms of my account, I need to refinance the full $5,000.
Has anyone else here had this experience? I am beyond disheartened by all this.