FIFTH THIRD FINANCIAL CORPORATION

2019-02-27

Saint Clair Shores, MI

Closing an account

Checking or savings account: Checking account

Can't close your account
Company Response: Closed with non-monetary relief

Timely Response

2019-02-26

Bow Mar, CO

Trouble using your card

Credit card or prepaid card: General-purpose credit card or charge card

Can't use card to make purchases
Company Response: Closed with explanation

Timely Response

2019-02-26

Bumpass, VA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with monetary relief

Timely Response

2019-02-26

Boger City, NC

Problems at the end of the loan or lease

Vehicle loan or lease: Loan

Problem with paying off the loan
Complaint: Name of Bank : First Charter ( initially ) then Fifth Third Bank bought out XXXX XXXX XXXX XXXXt : XXXX XXXX XXXX and XXXX XXXX XXXX Account # XXXX Amount Financed : {$150000.00} APR : XXXX % ( {$61000.00} ) No. of pmts : XXXX ( originally XXXX XXXX XXXX XXXX with Fifth Third ( I was given no explanation for this added pmts. ) Total of pmts : XXXX Date of Loan : XX/XX/XXXX thru XX/XX/XXXX This loan was supposed to be paid off in XX/XX/XXXX. I was originally suppose to make XXXX pmts @ {$1100.00} and to be notified about the amount of the last payment. This should have been in XX/XX/XXXX. I continued to make monthly payments because I was not paying attention and did not pull the original loan papers. Fifth Third sent me a letter on XX/XX/XXXX. They notified me that I would owe a balloon payment of {$41000.00} due to the increase in the prime rate. I was never told about a balloon payment and Fifth Third never notified me of such. As of XX/XX/XXXX I have made XXXX payments even thou I was only supposed to have to pay XXXX. I have met with the bank manager but was not satisfied with the outcome. According to Fifth Third I will have to pay the balloon payment in XX/XX/XXXX. The tax value of the motorhome is only {$7800.00}. I feel that XXXX XXXX nor Fifth Third have informed me of a balloon payment, I would have never agreed to such a thing. There is a waiver in the note giving the bank the option to do the right thing, but they haven't shown the ability to do the right thing.
Company Response: Closed with explanation

Timely Response

2019-02-26

Campton Hills, IL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with monetary relief

Timely Response

2019-02-26

Brooklyn, NY

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-25

Chestnut Street, IL

Managing an account

Checking or savings account: Other banking product or service

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response

2019-02-25

Chicago, IL

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Timely Response

2019-02-25

Charlotte, NC

Managing an account

Checking or savings account: Checking account

Fee problem
Complaint: I have an account with fifth third bank, where students aren't supposed to have a monthly account fee, but I brought them proof I'm a student and they still charged me the fee, I called them up about it and they said they can't help me. Also when I opened the account I was offered {$250.00} for leaving {$500.00} in there for 60 days, but now that they charged me a fee my balance went under {$500.00} so I can no longer get the bonus ( because of a mistake they made ).
Company Response: Closed with monetary relief

Timely Response

2019-02-25

CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: RE : XXXX XXXX # XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX, FL-XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX + XXXX, tax parcel # XXXX Dear Sir or Madam, I have purchased a lot at the above address in XXXX. I had planned to build a house and move there with my wife upon our retirement. However, XXXX XXXX refused to advance payments against the mortgage for the construction. XXXX bought this loan from XXXX, out of bankcruptcy. We had originally taken out a construction to permanent loan with the now defunct XXXX. The loan was saddled with very high fees and closing costs. Also, the interest rate was initially high at 7 %, despite my, at that time, very high credit rating. XXXX issued payments to the mortgage broker ( commissions ), the real estate agent who sold us the lot as well as an initial draw to the original contractor that was supposed to build the house. Those draws were issued against my loan with nothing in return to me, resulting in a much higher balance than if I had just bought the lot. The contractor never did any construction but pocketed the money advanced to him by XXXX. After XXXX went bankrupt in XXXX, XXXX Bank purchased the loan for XXXX cents on the dollar. Even though this was a construction to permanent loan, XXXX XXXX refused to pay for the construction of the house. At that point, I had already paid out several XXXX dollars out of pocket to the contractor for site preparation. So I got stuck with the sunk cost of not only XXXX of dollars in unnecessary loan costs, but also the sunk cost of the site preparation. Even though XXXX Bank reduced the interest on the loan, they have collected more in interest on this loan than what they had originally paid for the entire loan. Over the past 10 years, I had asked XXXX XXXX three times to reduce the outstanding principal or to take the property back ( deed in lieu ), but they had always refused. I am XXXX XXXX old and my wife and I only receive Social Security income and a few XXXX dollars in rental income per month. Our out of pocket medical expenses are mounting and in order to continue making payments on the above-mentioned loan, we will soon be forced to sell our home. Sincerely, XXXX XXXX
Company Response: Closed with non-monetary relief

Timely Response

2019-02-22

Wonder Lake, IL

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: We previously filed a complaint on this site requesting that Fifth Third Bank accept the short sale offer we had on our home. This was back in XX/XX/XXXX! Instead we have been caught in retention option XXXX. I have written emails to XXXX XXXX ( COO ) ; XXXX XXXX ( COB & CEO ) ; XXXX XXXX ( CFO ) and XXXX XXXX. The ONLY response I EVER received was from clerks who had no authority or power to make a REAL decision on our request. I was told this week by yet another clerk that my hardship application was discarded because the bank wants us to accept their retention proposal. We are NOT in the position to continue to pay this mortgage. Over this 10 year history we tried 8 times to refinance this mortgage. If they would have offered a serious retention option even 5 years ago we wouldnt be in this situation.
Company Response: Closed with explanation

Timely Response

2019-02-22

Etna, OH

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Problem with personal statement of dispute
Company Response: Closed with explanation

Timely Response

2019-02-21

Evansville, IN

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response

2019-02-21

La Fayette, IN

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with monetary relief

Timely Response

2019-02-20

Ft Myers, FL

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Complaint: On XX/XX/19 deposited paycheck in the amount of {$2600.00} into checking account. This is the same deposit that is made twice monthly. Same amount, same account. There have been no issues for the past year with deposited paychecks. Bank now refuses to make funds available until XX/XX/19, which has compromised our jobs, due to childcare not getting paid, compromised our mortgage payment, and now we can not pay our electric which is due by XX/XX/19, before being shut off. We have attempted to contact the bank and were told by both our local location and the customer service line, that they were going to hold our paycheck for 10 days due to our account being negative before. Our account has {$.00} in it with no outstanding balances or purchases. This holding of our paycheck is in no way useful to the bank, other than keeping us from paying our bills and as a form of punishment.This is through Fifth Thirds Bank.
Company Response: Closed with explanation

Timely Response

2019-02-20

Cincinnati, OH

Managing an account

Checking or savings account: Checking account

Cashing a check
Company Response: Closed with explanation

Timely Response

2019-02-20

Bueche, LA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: In XXXX of XXXX I purchased a property which has a mortgage that was sold to Fifth Third Bank. At that time, I purchased a homeowners insurance policy from XXXX XXXX for this property. On or around XX/XX/XXXX I switched insurance providers to XXXX. During this week in XXXX I contacted Fifth Third to ask what was required of me in order to change insurance providers. I was instructed to list Fifth Third on the policy and given a mortgagee clause / address. I forwarded this information to XXXX. I have attached a Proof of Insurance document from XXXX showing Fifth Third Bank listed under the mortgage clause. On XX/XX/XXXX I received a letter from XXXX stating they have tried contacting Fifth Third Bank multiple times regarding payment of the homeowners policy via the escrow account set up through my mortgage account. The letter from XXXX is requesting payment in the amount of {$2400.00} and indicates that if this is not resolved within 20 days then I will be billed personally for the homeowners insurance policy. This letter from XXXX is attached to this correspondence. Additionally, according to my most recent mortgage statement from Fifth Third dated XX/XX/XXXX, there is currently {$3400.00} in escrow. This should be more than enough to cover the homeowners insurance premium. This most recent mortgage statement has also been attached. On XX/XX/XXXX at XXXX XXXX I called Fifth Third Bank using the contact information provided on my statements. The first representative I spoke with informed me that the policy on record was XXXX XXXX. I stated that my insurance had changed to XXXX. The representative then directed me to their insurance department line ( XXXX ) to correct my information where I then spoke to a second representative. The second Fifth Third representative then told me that my listed insurance provider was already listed as XXXX. She then confirmed that Fifth Third Bank had in fact already received the bill and quoted me the exact amount ( {$2400.00} ) listed for the premium. Then she told me that the payment of the policy was caught up in processing and that Fifth Third would be contacting XXXX directly to figure out how to pay them. I waited 48 hours as a courtesy, and then contacted XXXX around XXXX XXXX the night of XX/XX/XXXX. I was told by XXXX that they had still not received payment, and that no one from Fifth Third had contacted them. I was also told that they have been sending invoices for payment since XXXX of XXXX. Afterwards, I asked for advice on how to proceed and was instructed to call XXXX the following week to set up a conference call between myself, XXXX, and Fifth Third Bank to get the matter straightened out. I contacted XXXX around XXXX XXXX the morning of XX/XX/XXXX. At this point, XXXX, a representative for XXXX, and I called the number ( XXXX ) for the insurance line at Fifth Third Bank. We sat on hold for over an hour with no answer before hanging up. XXXX then tried to call the main Fifth Third phone line. After sitting on hold for another long period someone finally answered and then directed him to the same number we had already tried for the insurance department. XXXX then took my number and told me he would continue trying, and that he would call me once he got someone on the line. XXXX updated me repeatedly throughout the day and was never able to get anyone from the insurance department to pick up the phone. Due to the time sensitivity of this matter, and the continued inaction on Fifth Thirds part, I have decided to file a complaint against Fifth Third Bank in hopes of expediting payment to XXXX and avoiding personal charges for insurance that I have already paid for through my escrow account.
Company Response: Closed with explanation

Timely Response

2019-02-20

Richton Park, IL

Problem with the payoff process at the end of the loan

Payday loan, title loan, or personal loan: Installment loan

Company Response: Closed with explanation

Timely Response

2019-02-19

Evanston, IL

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Company Response: Closed with explanation

Timely Response

2019-02-19

Centerton, OH

Managing an account

Checking or savings account: Checking account

Cashing a check
Company Response: Closed with explanation

Timely Response

2019-02-15

Bronx, NY

Managing the loan or lease

Vehicle loan or lease: Loan

Billing problem
Company Response: Closed with explanation

Timely Response

2019-02-15

Harsens Is, MI

Managing an account

Checking or savings account: Checking account

Deposits and withdrawals
Complaint: I deposited a check for {$1700.00} on Wednesday XX/XX/19 through the Fifth Third App. When I checked my account on Friday the funds were not available for me to use. When I called my Fifth Third Branch XXXX he advised that the check is placed on hold until XX/XX/19. He tried to escalate the issue and release the hold but he said it will not allow him to due to " reoccurring overages ''. Anytime I have over drafted I paid a fee of {$37.00} so I do not understand how they can punish me by charging me the overdraft fee, and then hold my funds without any communicated notice. I just do not understand how they are allowed to hold this transaction for nearly two weeks?! Any assistance with this would be appreciated.
Company Response: Closed with monetary relief

Timely Response

2019-02-14

Buckhannon, WV

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Fifth Third mandates I pay an escrow even though Fifth Third has failed to pay for my homeowner 's annual insurance premium. Fifth Third now acknowledges my homeowners is with XXXX XXXX and acknowledges the correct premium dollar amount of {$900.00}. However, Fifth Third has the payment due to XXXX XXXX in XX/XX/XXXX when the actual date the annual premium is due is XX/XX/XXXX. I have attached two items from XXXX XXXX showing the premium is due in XXXX. Fifth Third did not pay the premium in XX/XX/XXXX. I was forced to make the payment or be lapse in my homeowners insurance. I thank Fifth Third for their letter dated XX/XX/XXXX detailing my starting escrow balance of {$1000.00}. My required escrow balance is {$1000.00}. I already have {$33.00} excess in my escrow balance and Fifth Third is forcing me to pay escrow for XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX or an eight additional months.
Company Response: Closed with non-monetary relief

Timely Response

2019-02-14

Glendale, CO

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Their investigation did not fix an error on your report
Complaint: Fifth Third Bank is reporting incorrect information on my credit report to XXXX and XXXX, resulting in a negative impact on my credit scores. They are reporting an account as 30 days past due when I do not owe anything on this account and there is no past due balance. This is coded as if I am currently late when, in fact, I am not.
Company Response: Closed with explanation

Timely Response

2019-02-13

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with monetary relief

Timely Response