Date Received: 2017-09-19
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I am a current customer of GM Financial. I recently checked my credit report and noticed that this institution is reporting inaccurate information to the credit bureaus and has caused a drop to my credit score. This company may be in violation of the FCRA due to this being the second time this has happened. This is affecting my ability to conduct other business so I am now contacting the governing agency of this institution.
Company Response:
State: TX
Zip: 752XX
Submitted Via: Web
Date Sent: 2017-09-26
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-18
Issue: Struggling to pay your loan
Subissue: Denied request to lower payments
Consumer Complaint: I signed a retail installment contract on XXXX in the state of Washington, the APR is 20.49 %, the amount financed is {$17000.00} and the finance charge ( or cost of the whole credit ) is {$13000.00}. I put down a {$600.00} down payment, and traded in my car which counted for {$1400.00}. The total amount was {$32000.00} which is nearly double the amount of money financed to me. When I asked GM Financial, the lienholder, when my account was opened, I was advised ( via chat ) : " XXXX at XXXX, XXXX XXXX : Hello XXXX, I show that the loan was opened XX/XX/XXXX. '' I contend the installment sale contracts I signed, that was immediately assigned to the bank, that the transaction is really a loan from the bank and documenting it as an installment sale is just a sham to avoid the usury limit, which in the state of WA where the sale took place is 12 % per year. If this kind of business practice is lawful, why would n't every dealer have a buyer sign a retail installment contract in conjunction with an auto loan from a lender in order to profit from unreasonable interest rates? If the agreement between the lender and the dealer is what makes it a " retail installment contract '' as opposed to a loan which is directly between the lender and buyer, then why am I paying GM financial, and not XXXX XXXX? I do feel that this is usury. In the case of XXXX XXXX XXXX XXXX XXXX XXXX v. XXXX, XXXX, the buyer bought a new vehicle from a dealer with a down payment and an agreement to pay the balance over several installments. According to the conditional sales contract, the buyer would make payments directly to a bank that was financing the sale. The contract was furnished to the dealer by the bank, which had an agreement with the dealer to buy all such contracts, if acceptable. On the next business day after the transaction was executed, the contract was assigned to the bank. When the buyer eventually refused to make payments, the bank sued. The Supreme Court reversed the trial court 's entry of judgment for the bank, holding that the transaction was, in substance, a direct loan from the bank to the buyer. Noting that courts look through the form of a transaction and consider its substance in usury cases, XXXX held that this transaction was actually a cash sale, with a conditional sale used as a security device to protect the bank. Because the interest on the loan to the buyer exceeded 12 percent per annum, the contract was usurious. I would like everything I have paid to GM financial to be applied to the principal. I would like my balance paid off, as my gap insurance only covered 25 % of the ACV. I would like GM financial to remove themselves from my credit report and all my late payments from my credit report.
Company Response:
State: WA
Zip: 984XX
Submitted Via: Web
Date Sent: 2017-09-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-17
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: I signed a contract to purchase a vehicle on XXXX XXXX, XXXX and that contract contains some errors so the finance manager at XXXX XXXX asked that I sign another contract. I assumed the contract stated what he said it stated and that it was a reprint just to correct the mileage issue. I was told that my due date was going to be the XXXX of every month and that I needed a {$1000.00} down which includes my first payment. On XXXX I woke up to an alert from my credit monitoring service advising me that I had a 30 day late payment with Gm Financial. I did n't understand how that was possible when I made a payment on XXXX XXXX, XXXX and gave payment information on XXXX to make another payment. I contacted GM Financial and I was advised that the due date on the contract states that the payment is on the XXXX of the month. I explained to the GM Financial Representative that I did n't have a copy of the contract, I have n't received a billing statement yet, and the sale person ( s ) at XXXX XXXX informed me that my payments was due on the XXXX of the month. I made a payment on XXXX how can I be 30 days late. The Representative stated to me that the payment was never processed on XXXX and the notes stated that I would call back on the XXXX, and make a payment, I disagree with. I feel if the payment was due on the XXXX of the month and I stated to the representative I will pay on the XXXX, why would n't the representative advise me that the payment would be 30 or more days late. I contact XXXX XXXX and spoke to XXXX ( sale/finance Manager ) who handled my transaction and he advised me that I signed the contract on the XXXX and that he entered into the system that my payment should be due on the XXXX ( although I was told XXXX ), I put {$1000.00} down payment down and was told that I would n't have a payment due until XXXX XXXX XXXX. When I contacted GM Financial about this situation I was told that they will look into it, but after looking into the situation they stating to me that I need to contact the dealership to get this matter corrected. The dealership stated to me that, there 's nothing they can do but to send me a copy of the contract showing I signed the contract on the XXXX of XXXX.
Company Response:
State: MI
Zip: 48021
Submitted Via: Web
Date Sent: 2017-10-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-16
Issue: Struggling to pay your loan
Subissue: Denied request to lower payments
Consumer Complaint: Auto was repossessed on XX/XX/XXXX after contacting after GM Financial they would work with me as I communicated I could pay my normal payment but had no residual income for arrears. I was told not to worry they will work with me.
Company Response:
State: FL
Zip: 32707
Submitted Via: Web
Date Sent: 2017-10-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-13
Issue: Managing the loan or lease
Subissue: Loan sold or transferred to another company
Consumer Complaint: On Saturday XX/XX/XXXX my wife and I traded in our vehicle financed through GM Financial to XXXX XXXX. The Manager called GM Financial notifying them of the trade in and asked for the payoff amount. The check was mailed the following week to GM to pay the vehicle off. I did not hear anything from GM Financial until XX/XX/XXXX that my payment was late. When speaking the GM representative they had no knowledge or notes of the vehicle trade in. I spoke with and also listened to the manager speaking with GM Financial. GM had not received the check. I immediately contacted the dealership and spoke with the manager who told me it was likely the check was lost in the mail and he would reissue another one. He also asked for the fax information for GM and sent them notification of what occurred and that a new check would be issued immediately. GM Financial disregarded all of this and still hit my wife and my credit for being 30 days late on payment. I have sent copies of the faxed letters to all three bureau 's however they will not remove it from my report. I was in constant contact with GM as was the dealership. This needs to be removed from our reports.
Company Response:
State: NJ
Zip: 079XX
Submitted Via: Web
Date Sent: 2017-09-13
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-08
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: XXXX XXXX inquiry XX/XX/XXXX did not authorize XXXX XXXX inquiry XX/XX/XXXX did not authorize XXXX XXXX inquiry XX/XX/XXXX did not authorize XXXX inquiry XX/XX/XXXX did not authorize XXXX inquiries XX/XX/XXXX and XX/XX/XXXX did not authorize XXXX XXXX inquiries XX/XX/XXXX - XX/XX/XXXX - XX/XX/XXXX did not authorize XXXX/XXXX inquiry XX/XX/XXXX did not authorize XXXX XXXX - XX/XX/XXXX inquiry was not authorized XXXX XXXX XX/XX/XXXX did not authorize
Company Response:
State: NC
Zip: 28278
Submitted Via: Web
Date Sent: 2017-09-08
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-08
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: I did not authorize this company to pull my credit onXX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX or XX/XX/XXXX and it is affecting me getting credit.
Company Response:
State: GA
Zip: 310XX
Submitted Via: Web
Date Sent: 2017-09-12
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-09
Issue: Struggling to pay your loan
Subissue: Denied request to lower payments
Consumer Complaint: I bought a car from XXXX XXXX XXXX in XXXX IL. I told them up front what I could afford XXXX a month of course they are car dealers it was XXXX a month when I left with gm financial. Of course I got behind but I set up 2 payments a month to catch up. But they did n't take the money. Once on one of my payments I put a stop pay because the money would not not be in the bank. I did call them gm financial and told them and reset up the 2 payments for the month. But then I got a call about not getting payments. I told them I have been sending 2 payments a month. Then she says oh it looks like we are flagging your a count because of a no pay. I told her yes but that I had already discussed that and it was to be ok. And I set up my payments again. So she says well you should do a volunteer buyback. Saying to me that it is not a repo. So I did everything I was to do but they did opposite of what they should of done. And they are still sending me a bill. When it was their fault. I want to sue them
Company Response:
State: IL
Zip: 62234
Submitted Via: Web
Date Sent: 2017-09-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-08
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: Unauthorized inquiry.
Company Response:
State: FL
Zip: 33150
Submitted Via: Web
Date Sent: 2017-09-12
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-09-11
Issue: Managing the loan or lease
Subissue: Problem with fees charged
Consumer Complaint: On XXXX XXXX, 2017, I sent a certified letter to GM Financial, for account # XXXX under XXXX and XXXX XXXX, in regards to verifying an additional fee added to our bill in relation to a debt collector by the name of XXXX XXXX XXXX XXXX. The certified letter requested validation under the Fair Debt Collection Practice Act to provide evidence bearing my signature from debt collection, which GM Financial decided to pay without validation and is now charging me for it. GM Financial stating that fee is valid due to an itemized statement from debt collector which is not a legal documentation without a signature.
Company Response:
State: TX
Zip: 75010
Submitted Via: Web
Date Sent: 2017-09-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A