Lakeland, Florida, resident Megan Moon had trouble qualifying for a vehicle loan before she became a client of Dallas-based Santander Consumer USA Inc., the nation's largest subprime auto financing company.

But that joy turned to despair after the company repossessed her truck for nonpayment.

And now Moon is among thousands of borrowers who say the company misled them with financing they couldn't afford. They're now awaiting compensation after Santander reached a $550 million settlement with Connecticut and 33 other states to reimburse consumers for alleged deceptive loan practices nationwide.

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'Up to Santander'

Moon said she called the Florida Attorney General's Office Tuesday for an update, but staff there urged her to be persistent with follow-ups to the company. She said she called the state after Santander employees told her, "This is all very new to us and we will be in touch."

While California, Florida, New Jersey, New York, Pennsylvania and 29 other states reached the settlement, it falls on Santander to administer the agreement.

Connecticut Attorney General William Tong said his office has fielded calls from about 60 residents since the settlement was reached in May. He urged Santander customers to visit www.santandermultistateagsettlement.com, or call 1-800-253-2171. If they have significant problems and feel like they've been mistreated, they can then call the attorney general in their state.

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Read more: Santander Reaches $550 Million Settlement With 34 States Over Alleged Deceptive Auto Loan Practices

"We don't have the money, or the ability to provide restitution," Tong said. "That is up to Santander, according to the terms of the agreement."

In a statement Tuesday, Santander referred all comment to its May 19 announcement on the  settlement. It declined to comment further.

"Santander Consumer's voluntary agreement with the attorneys general resolves a legacy underwriting issue stemming from an investigation that commenced in 2014, and is another key milestone in addressing issues related to that time period," the company said in the May statement. "We are pleased to put this matter behind us."

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'They gave me the keys'

Meanwhile, Moon's story is similar to thousands across the country who dealt with Santander. She said she purchased a used 2009 F150 truck, and was thrilled when Santander signed off on a loan.

"I was very surprised since I was denied by a lot of creditors," Moon said Tuesday. "They gave me a 20% interest rate. You usually have to show proof of income and they'd call your place of employment. I don't even think they called my job to verify I had a job."

Moon continued: "They wanted $2,200 down and I gave it to them, and they gave me the keys. I tried to be responsible and tried to rebuild my credit, but that wasn't the case. I couldn't make ends meet half the time as I was also a full-time college student. Payments were $360 a month and, as a single mom, it was often hard to make the payments."

Moon said she relayed her concerns to the company, but claimed it was to no avail.

"They wouldn't work with me, and I was going deeper and deeper into debt," she said. "I stopped making payments in November."

Then, Moon said, the company repossessed the vehicle on June 17, after she'd repaid about $7,500 over two and a half years.

"I feel kind of robbed," she said. "I am flexible in that I'd like either the money or the car. I am trying to show a good-faith effort."

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Interest higher than principal?

Patricia Perez, a Marietta, Georgia, resident, had a similar situation.

Perez purchased a used 2016 Jeep Patriot. She agreed to repay $36,504—or $507 a month for 72 months—after 23% interest.

"The interest is more than the principal," she said. "I want to get out of the contract. I feel like I was taken advantage of."

The agreement between Santander and the states requires the company to adhere to certain provisions, including knowing a customer's ability to repay the loans. It also prohibits Santander from lending to consumers who will have little or no money left after paying for housing and other expenses.

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