Date Received: 2024-01-21
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: My information was sold and bought illegally because I was a victim of the XXXX XXXX. I want these items Deleted from my credit reports effective immediately. I am attaching proof that XXXX has admitted that I was in fact a victim of the data breach and XXXX has done nothing. Please help me delete these illegal accounts from my credit reports. XXXX # XXXX open XX/XX/XXXX Furthermore I was affected by their illegal practices listed below A XXXX car loan class action website has been established to inform consumers of a proposed {$550.00} XXXX settlement that they may qualify for. Though the website is live, the settlement is not accepting claims at this time. A judge has yet to approve the settlement deal. Top Class Actions will provide information on how to file a claim as soon as the details are available. The {$550.00} XXXX settlement would resolve a probe by XXXX state attorneys general into allegations that XXXX issues unfair auto loans with excessive interest rates and other terms. These loans were allegedly offered to subprime consumers who were highly likely to default on the debts. XXXX profited by approving high-cost loans to disadvantaged auto buyers who were doomed from the start, California Attorney General XXXX XXXX XXXX XXXX a statement, according to U.S. News . This settlement should be a warning to the industry that we are committed to protecting consumers from abusive business practices. According to the multi-state investigation website, XXXX knew that some of their borrowers were at a high risk of default but turned a blind eye to these risks and exposed these borrowers to unnecessarily high levels of risk through high loan-to-value ratios, significant backend fees, and high payment-to-income ratios. XXXX has agreed to pay {$65.00} XXXX in restitution to the XXXX states participating in the investigation. This restitution will compensate certain subprime borrowers who defaulted on XXXX auto loans between XXXX XXXX, XXXX and XXXX XXXX, XXXX. For XXXX car loan borrowers who have not had their cars repossessed despite having the lowest quality loans, the company will reportedly allow them to keep their cars and waive any remaining loan balances. In total, these customers will be offered up to {$45.00} XXXX in loan forgiveness. Loan forgiveness will also be extended to other consumers, according to the XXXX car loan settlement website. Certain defaulted consumers will have their deficiency balances waived by the company, with XXXX agreeing to provide up to {$430.00} XXXX in immediate loan forgiveness. Santanders loans were reportedly packaged into bonds by the company and sold to investors. In XXXX alone, the company issued {$8.00} XXXX of these bonds. This is reportedly twice as much as any other subprime auto loan lender. For loans that XXXX has sold, the company will attempt to buy these loans back under the settlement terms. Should the company successfully acquire the loans, they will provide additional deficiency waivers, according to the settlement website. Going forward, the settlement also requires XXXX to change their practices to better serve consumers. The loan company will be required to consider the borrowers full list of actual monthly debt obligations before extending a XXXX car loan. Additionally, if a consumer has a negative residual income after considering these monthly obligations, XXXX will not extend financing. If XXXX loans default in the future, the company will reportedly be required to test these loans to see if the consumer had a negative residual income at the time of the financing origination. This test must account for basic living expenses, according to the settlement terms. Should the test reveal that the loan was unaffordable to the consumer and the borrower defaulted within a certain period of time, the loan must be forgiven by XXXX. XXXX car loan car with money illustrationPreviously, XXXX allegedly allowed problematic third-party dealers, such as those offering vehicle service contracts, to waive documentation requirements for income and expenses. Going forward, the lender will reportedly stop allowing such exceptions and will be required to monitor dealers for income inflation, expense inflation and power booking. The final terms of the XXXX car loan settlement requires the company to maintain fair policies and procedures for deferments, forbearances, modifications and other collection matters that all employees must follow. XXXX has reportedly been expecting to reach a settlement to resolve the XXXX multi-state probe. As a result, the lender has reportedly set aside funding and made changes in anticipation meaning that their earnings will not be impacted. Over the last several years, we have strengthened our risk management across the board improving our policies and procedures to identify and prevent dealer misconduct, and tightening standards to ensure affordability, XXXX said in a statement, according to XXXX XXXXXXXX. The settlement was lead by Illinois Attorney General XXXX. Attorneys general from California, Maryland, New Jersey, Oregon and Washington serve as the settlements executive committee. The following states attorneys general are also included in the settlement : Arizona, Arkansas, Connecticut, the District of Columbia, Florida, Georgia, Hawaii, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Nebraska, New Hampshire, New Mexico, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah, Virginia, West Virginia, and Wyoming.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90047
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: This company has given me a line of credit on XXXX XXXX which initially was supposed to be a monthly payment plan in which changed after line of credit was received of the amount of XXXX dollars into a bi-weekly plan of monthly payments being twice the amount. Also if i may add ive made all payments on time according to schedule they kept charging a XXXX dollar statement fee for 2 payments a month. Now as of XX/XX/XXXX they received two payments from me. As of XX/XX/XXXX they reported on my credit as late payment and it hasn't been 90 days past due after speaking with me on further payments.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 245XX
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Problem with a company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: I have filed a number of disputes with experian regarding the negative info in my credit report. I at first filed disputes say this is not my account and I don't owe these third party collections anything as I have no signed contact with them. No one has asked or supplied proof. Also the original accounts they clam I owe have been over the 7 years drop off time and they refuse to remove then info from my report.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MT
Zip: 59404
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Incorrect information on your report
Subissue: Personal information incorrect
Consumer Complaint: I am writing you this notice to update the information in my consumer report. See my letter for my accurate personal information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33603
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Incorrect information on your report
Subissue: Personal information incorrect
Consumer Complaint: I am writing you this notice to update the information in my consumer report. See my letter for my accurate personal information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33603
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Incorrect information on your report
Subissue: Personal information incorrect
Consumer Complaint: I am writing you this notice to update the information in my consumer report. See my letter for my accurate personal information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33603
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Incorrect information on your report
Subissue: Personal information incorrect
Consumer Complaint: I am writing you this notice to update the information in my consumer report. See letter for my accurate personal information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33603
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: I have rights to ensure that your private information is not shared without my consent. The Fair Credit Reporting Act and other laws protect my privacy and require consumer reporting agencies like XXXX and Experian to exercise fairness, impartiality, and respect for my privacy These agencies need my written instructions to furnish my information to financial institutions. However, I have not given my consent for them to share my information, and they have not informed you of my right to exercise your nondisclosure option. Additionally, they are reporting adverse information about my account without my permission, which is against the law. The agencies are also required to maintain reasonable procedures to avoid violations and limit the furnishing of consumer reports. I have the right to opt out of their reporting at any time.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DE
Zip: 19711
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Incorrect information on your report
Subissue: Personal information incorrect
Consumer Complaint: I am writing you this notice to update the information in my consumer report. See letter for my accurate personal information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33603
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-01-21
Issue: Incorrect information on your report
Subissue: Personal information incorrect
Consumer Complaint: I am writing you this notice to update the information in my consumer report. See letter for my accurate personal information.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33603
Submitted Via: Web
Date Sent: 2024-01-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A