Date Received: 2020-01-07
Issue: Managing the loan or lease
Subissue: Problem with the interest rate
Consumer Complaint: I opened this account on XX/XX/XXXX financing {$26000.00} for 72 months paying {$520.00} a month. I am currently on payment number XXXX with an outstanding balance of {$19000.00}. If I did my math correctly I have already paid {$22000.00} on this loan. It is impossible for this institution to say that I still owe {$19000.00}. The maturity date of this loan is XX/XX/XXXX. I feel that I am being scammed out of my money with this institution and I am having problems paying this bill every month. I have paid late so I can not refinance which I was told that I could do when I signed for this loan, I was told I could refinance in six months but when I went to refinance they denied me. I do not know what to do I have paid over {$20000.00} to this company and I feel that I should not owe {$19000.00}. They are saying that in almost a five-year timeframe I only paid {$7000.00}. This company is a fraud and something needs to be done about it. I should almost be finished paying off this car note and it looks like I am underwater for around {$15000.00}. I have XXXX children in college and also battling XXXX XXXX XXXX XXXX. I believe that something needs to be done about this account and this company who is giving out bad loans. I am going to fight this matter to the end.
Company Response:
State: NY
Zip: 109XX
Submitted Via: Web
Date Sent: 2020-01-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-05
Issue: Problems at the end of the loan or lease
Subissue: Problem while selling or giving up the vehicle
Consumer Complaint: Lender : GM Financial Account number : XXXX Account opened : XXXX XXXX, XXXX Lease term : 36 months Contract Miles : XXXX miles GM Financial was the leasing company that I leased a XXXX XXXX XXXX from in XX/XX/XXXX until the lease ended in XX/XX/XXXX. The vehicle was returned by me timely to the company in XX/XX/XXXX, approximately XXXX miles below the leased mileage, and with only {$80.00} in appraised wear and tear damage. For the entirety of the lease agreement, all charges associated with the vehicle were paid on time through auto-pay connected to my checking account without incident for 3 years. I naturally presumed, but apparently incorrectly, the end of lease charges were to be deducted from the same account, as had been our course of performance for 36 months. However, this did not occur. In XXXX, I received an alert that there was a missed payment on my credit report and on XX/XX/XXXX I promptly paid the outstanding {$510.00} end of lease charges ( using the same checking account that was already on file with GM ). When I sought from the company a good will adjustment to the credit agencies for the late lease charge, they refused. In sum : A ) I feel like I was induced by GM for 3 years to make payments through the auto-pay mechanism and then at the end was deceived into thinking this same mechanism apply to the end of lease charges. B ) The deadline set to pay the end of lease charges was arbitrarily set by GM as the lease agreement is silent is this regard. I dispute that the payment was even late. C ) These end of lease fees appear to be separate an aside from the financed portion of the lease agreement. The financed portion of the lease was paid on time, it was only the end of lease fees that were purportedly untimely. I do not believe these end of lease fees are reportable to the credit agencies as they in no constitute a loan repayment. It believe the fact that GM even required a different payment mechanism to pay these fees supports this notion.
Company Response:
State: CA
Zip: 92651
Submitted Via: Web
Date Sent: 2020-01-05
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-02
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I leased a vehicle with GM which they reported as a repo. When I noticed it on my credit report I sent them this letter. From everything I read if it was indeed a repo as they reported they should be able to provide this information : Date : XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CO XXXX GM FINANCIAL XXXX XXXX XXXX, XXXX . XXXX XXXX XXXX, TX XXXX VIA USPS & FAX : XXXX Dear GM FINANCIAL : You are reporting inaccurate information in my credit report. Please investigate the following items, and promptly remove inaccurate, incomplete or unverifiable accounts : Creditor : GM FINANCIAL, Account : XXXX Reason : Please investigate if every piece of information is correct. If not, please remove it from my credit report. Please provide a complete payment history, what was the original date of delinquency for this account that caused it to become a chargeoff? What was the date of the last payment received. How did you calculate the current amount owed? Provide proof that the vehicle was reposessed and proper notifications sent per XXXX. If indeed the vehicle was repossed as you are inaccurately reporting. Provide the following : A A full and complete accounting of all payments including itemization on how monies were applied to principal, interest, or other fees. - Please provide me with a copy of the bill of sale for the vehicle in question. - Please provide me with a copy of the signed USPS slip as evidence of statutory overnight deliverysigned by the addressee. - Please provide me with the name, address, phone number of the towing company used to transport the vehicle to the private auction. - Please provide a copy of the bill of sale showing the price of the money collected because of the private sale as evidence the vehicle was resold in a commercially reasonable manner or even for a good price. - Please provide me with a full and complete calculation of how you determined the sales price. - Please provide me with a full and complete explanation of how you derived the deficiency balance, Items 1-18 on the Explanation of Calculation of Surplus or Deficiency. Please send that to my attention within 5 business days of the receipt of this letter. Once I receive the requested information, I will require at least 30 days to investigate this information. If your offices fail to respond to this VALIDATION REQUEST within 30 days from the date of XXXX, XXXX XXXX, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately. Thank you for your prompt attention to this matter. Sincerely, XXXX XXXX On XX/XX/XXXX they responded with information on a different account ( # XXXX ) not the one that I wrote about! On XX/XX/XXXX I wrote them again : Date : XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CO XXXX GM FINANCIAL 2nd Request XXXX XXXX XXXX, XXXX . XXXX XXXX XXXX, TX XXXX VIA USPS & FAX : XXXX Dear GM FINANCIAL : I have sent letters to you requesting that you remove inaccurate, incomplete or unverifiable accounts from my credit file. To date you have failed to comply with the requirements of the Fair Credit Reporting Act by ignoring my requests. Be advised that I am considering filing a complaint with the FTC due to your noncompliance with the FCRA. I have kept all records of my communications with you, including the letters I have sent, proof of your receipt of the letters, and evidence of your noncompliance. It has been over 45 days since your receipt of my original request to investigate the remove the following accounts, and you have failed to comply with the FCRA. In good faith, I ask that you please reinvestigate the following items, and promptly remove inaccurate, incomplete or unverifiable accounts : Creditor : GM FINANCIAL, Account : XXXX This account was NOT a reposession. If you believe that it was, please provide all of the following documentation or delete this comment from each of the credit bureaus : 1. Auto Purchase Plan Agreement 2. Credit Application ( to corroborate identity of alleged debtor ) 3. Sale Invoice ( to corroborate claim amount of alleged debt ) 4. Vehicle Invoice ( to corroborate consistency of claim amount of alleged debt ) 5. Retail Certificate of Sale ( to corroborate parity between sale amount and claim amount ) 6. Payment History providing evidence of payments including last payment date and Charge-off Date ( to corroborate actual debt owed net any payments ) 7. Vehicle Title 8. Dunning Letter 9. Repossession Assignment ( initial ) 10. Any subsequent Repossession Assignments 11. Repossession reassigns 12. Account Profile/Repossession Approval 13. Repo Checksheet 14. Notification Letter to Report Derogatory Status to Credit Bureaus 15. Notice of Repossession/Right to Redeem with any additional fees ( e.g. Recovery fee ) to reflect Legal requirement to notify me personally, or by registered or certified mail at my last-known address, within 24 hours of such repossession. 16. Notice of Plan to Sell Property at a Private Sale ( Notifying me of the time and place of a public sale and/or of the time after which a private sale has taken place ). 17. Letter of Private Sale ( Disclosing Purchase price of buyer ) 18. Total Loss Protection Assurance ( Covers the loss of the entire car minus any payment obligations until submission of claim ) 19. Post-repossession assigns/assignments/assignment agreements 20. Debtor Notification of Assignment pursuant to 21. Bill of Sale for the sale of any chattel paper or payment intangibles relative to the debt I made it a point to research what the IRS defines as a charge off ( https : //www.irs.gov/pub/irs-drop/rr-01-59.pdf ) An account can not be 'charged off ' prior to a 180 day delinquency. Also a charge off is a LOST asset. This account was paid in full according to the lease agreement. Per the Fair Credit Reporting Act, Section 611 ( a ) ( 6 ), I also request that you provide a description of the procedure used to determine the accuracy and completeness of the information, including the business name and address of any furnisher of information contacted in connection with such information and the telephone number of such furnisher. By law, this information must be provided to me within 5 business days after the completion of the reinvestigation. Again, if you fail to immediately remove inaccurate, incomplete, or unverifiable information, be advised that I intend to log a complaint against you with the Federal Trade Commission. I am tracking receipt of these letters by fax and USPS. Thank you for your prompt attention to this matter. Sincerely, XXXX XXXX When I followed up with a phone call about the inaccurate reporting I was told that the letter that I sent was not specific. Really?! I also wrote the credit bureaus during this time period. I got a response back that said File Number XXXX Date Issued : XX/XX/XXXX Pay Status : Account paid in Full ; was a charge off Remarks : PAID IN FULL/WAS CHARGE OFF So ( 1 ) why didn't GM tell the other two bureaus and ( 2 ) why is it now showing as TU - payment after charge off/collection dispute resolved ; reported by grantor. Exp - Account was in dispute- now resolved - reported by subscriber. Unpaid balance reported as a loss by credit grantor. Eq - paid charge off auto. Yet all 3 have a {$0.00} balance so what is there to charge off. The fact that they initially damaged my score by saying it was a repo was incorrect and should have been removed. Then to state it was actually paid in full to it being back to a chrage off is wrong! You can't charge off a paid account. They didn't even acknowledge my request for information so what are they using to validate this debt GMs response said I didn't provide sufficient information and that I needed to provide documents to substantiate the basis of the dispute. Are they kidding?! They are the ones reporting. They are the ones required to validate the debt. GM has reported inacurately and continues to do so. I want this account deleted. I hope there is a way to upload what I am saying. Thank you for righting a wrong.
Company Response:
State: CO
Zip: 80027
Submitted Via: Web
Date Sent: 2020-01-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-01
Issue: Struggling to pay your loan
Subissue: Lender trying to repossess or disable the vehicle
Consumer Complaint: On XX/XX/XXXX around XXXX XXXX two guys show up at my home asking if I was XXXX XXXX I told one of the guys yes, he then said that they were here to pick up the car, that I have been paying for almost 2 years now. I told them I don't know what you are talking about I pay for my car every month. next, I proceeded to call to loan company GM finance I was put on hold then transfer to a different department upon speaking to the person on the phone she that my loan was charge was back in XX/XX/XXXX by GM finance I was shocked I could not believe this was happening. I began to ask her if the loan was charged off why is GM finance still taken my monies every month, she said that payment was going to the lease and I would have to give them a total of XXXX XXXX dollars to be able to get my car out of the repo. She then told me that is the only I would be to get my car back but I would still return the car back to them. I never receive any paperwork from GM finance stating that I was behind on my payments nor informing me that they charge off my loan that I have been paying $ XXXX insurance. by Law, if an account has been charge off the company should not be still taken my payments and not apply them to my account. I should be paying a collection company GM finance. also, the account on my credit report still shows that my account is in good standing but only shows two payments on XXXX and all payment on XXXX.
Company Response:
State: CA
Zip: 91764
Submitted Via: Web
Date Sent: 2020-01-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-30
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that Credit Union has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to misreport. More confirmation of the aforesaid item too. My proper request must over, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask you be investigated as soon as possible and confirmed to be correct. Thanks!
Company Response:
State: IL
Zip: 60031
Submitted Via: Web
Date Sent: 2020-01-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-30
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that Credit Union has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to misreport. More confirmation of the aforesaid item too. My proper request must over, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask you be investigated as soon as possible and confirmed to be correct. Thanks!
Company Response:
State: FL
Zip: 33169
Submitted Via: Web
Date Sent: 2020-01-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-27
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: GM Financial has 2 years of innacurate reporting every 30 days on my credit
Company Response:
State: TX
Zip: 77840
Submitted Via: Web
Date Sent: 2019-12-27
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-25
Issue: Problems at the end of the loan or lease
Subissue: Excess mileage, damage, or wear fees, or other problem after the lease is finished
Consumer Complaint: I took out a lease from GM Financial back in XX/XX/XXXX, my lease was up in XX/XX/XXXX which I returned then waited to get the final bill. After not receiving it I called GM to find out about the bill. They informed me not to worry they will mail it out to look out for it. In XX/XX/XXXX When I still didn't receive the bill I called again. They informed me that they will be mailing it out. I got the letter along with the bill on XX/XX/XXXX I immediately paid this bill. My issue is that GM has reported me late i XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX which isn't accurate.
Company Response:
State: NY
Zip: 10977
Submitted Via: Web
Date Sent: 2019-12-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-23
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that Credit Union has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to misreport. More confirmation of the aforesaid item too. My proper request must over, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask you be investigated as soon as possible and confirmed to be correct. Thanks!
Company Response:
State: AZ
Zip: 85296
Submitted Via: Web
Date Sent: 2019-12-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-12-22
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Was not notified of investigation status or results
Consumer Complaint: I was shocked when I reviewed my credit report and found late payment on XX/XX/2018. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me, or the payment was not applied as fast as expected. I checked my bank account and noticed that you deducted the money out of my checking account that on the month that you marked me late on my credit report.
Company Response:
State: MA
Zip: 02301
Submitted Via: Web
Date Sent: 2019-12-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A