Date Received: 2023-11-14
Issue: Repossession
Subissue: Voluntary repossession
Consumer Complaint: I signed papers for a car from XXXX XXXX XXXX XXXX XXXX XXXX of XXXX XXXX Indiana, but I never picked the car up. I never paid the down payment. I never Registered the car. I never got the car insured. I never drove the car off the lot. I let my sales agent know that I no longer wanted the car ( XXXX XXXX ). GM Financial is requesting to pick up the car ( that I don't have ) which I voluntarily surrendered and informed them that the car is still at the dealership. The dealership is saying that the car is not there and they do not know where their car is. GM Financial and I both have been trying to contact the dealership regarding the wear about of the vehicle and they are saying it is not there.
Company Response:
State: MI
Zip: 49001
Submitted Via: Web
Date Sent: 2023-11-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-10
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: I filed XXXX XXXX bankruptcy about XXXX, XXXX XXXX XXXX, and it was discharged in XXXX. During this, I reaffirmed or in other words, kept my car loan and the bankruptcy was discharged. GM Financial now refuses to report my monthly payments to the credit bureaus, thus preventing me from searching for different refinancing options as these possible new lenders can not find a vehicle in my credit report, and GM Financial is also preventing a credit score increase as time goes on essentially attempting to trap me in a vehicle loan with no benefit to my credit score. I will work with my credit union to refinance the vehicle if a solution is not created, as I have auto financing history built with them. I have already made a complaint with XXXX, and I would have not reaffirmed on the vehicle had I known they would not be reporting my payments to the credit bureaus.
Company Response:
State: OH
Zip: 439XX
Submitted Via: Web
Date Sent: 2023-11-10
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-09
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: My XXXX XXXX XX/XX/XXXX. ACCOUNT # XXXX. GM Financial Granted us a 6 month extension on the XXXX. With that Extension, XXXX miles is added for every month. The 6 month extension expired XX/XX/XXXX. I was granted a month to month extension, with the same rules, an additional XXXX miles a month. Allegedly, they sent ( 6 ) correspondence letters to myself and my wife, with the last one mailed out XX/XX/XXXX. I continued making monthly payments. They continued cashing checks. I attempted to XXXX XXXX and XXXX / XXXX a XXXX XXXX. Their New Minimum XXXX XXXX of XXXX, didn't allow me to that option. My Score was knocked down by their late payment games and a prior game they played with me XXXX years ago. XX/XX/XXXX, they took my vehicle UNANNOUNCED. THEY WANT ME TO PAY {$2500.00}. I AM LIVING IN A FEDERALLY SUBSIDIZED SENIOR COMMITTE WITH S S OUR ONLY INCOME. WE CAN'T AFFORD THAT AND WE'D LIKE TO HAVE THEM PREVENT THIS ON EITHER OF OUR XXXX XXXX. CHANCES ARE ...
Company Response:
State: NY
Zip: 14612
Submitted Via: Web
Date Sent: 2023-11-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-09
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: Dear Consumer Financial Protection Bureau ( CFPB ), Re : GM Financial I am writing to you to make a complaint against GM Financial ; My complaint pertains to their handling of my vehicle financing ( Acct number XXXX ) which as per the XXXX XXXX XXXX has raised concerns of potential violations with security frauds and tax evasion. My promissory note and certificate of indebtedness was securitized by this company, they also received a CUSIP number and engaged in trading activities on the secondary market. GM Financial has also failed to provide my lawful 80 % of the proceeds from the securitization of my note on the secondary market. I previously sent GM Financial ( XXXX ) XXXX XXXX XXXX a rescission notice that referenced ANY and All Security agreements with GM Financial. The notice was delivered on XX/XX/XXXX, XXXXXXXX XXXX via Certified mail # XXXX XXXX XXXX XXXX XXXX. GM Financial continually fails to set-off the debt of the said note above, subsequently to the above I sent a registered security to both : GM Financial XXXX Delivered to XXXX XXXX XXXX XXXX XXXX on XX/XX/XXXX, XXXX XXXX via XXXX GM Financial ( indenture trustee ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX on XX/XX/XXXX, XXXXXXXX XXXX via XXXX GM Financial continues to request that I pay back the interest they borrowed for the US Treasury. I am writing to bring your attention to the compelling evidence brought to my attention via a Forensic Loan Securitization Analysis Report that substantiates the presence of Securities Fraud related to my auto loans. The evidence at hand not only highlights the existence of irregularities by the Employment of Manipulative and Deceptive Practices but also underscores the need for a thorough investigation and resolution of this matter. CUSIP Number : A crucial piece of evidence is the presence of a CUSIP ( Committee on Uniform Securities Identification Procedures ) number associated with my auto loans. CUSIP numbers are unique identifiers used in the securities industry to track financial instruments, including securities. The fact that my auto loan has an associated CUSIP number strongly suggests that it has been securitized, implying that it may have been bundled with other auto loans and sold as a financial product to investors. This is a key indicator of securities fraud when such securitization is not properly disclosed. My auto loan was not handled in accordance with the law, leading to a breach of my rights as a borrower and potential harm to investors. Despite the clear indications that the notes are being sold or transferred, given the nature of the situation I have reason to believe that these transactions are not being reported to the U.S. Securities and Exchange Commission ( SEC ). The failure to report these transactions raises questions about compliance with the regulatory framework established to govern the securities industry. When financial instruments, including auto loan notes, are transferred, it is essential that such transactions be accurately and promptly reported to the SEC. This reporting is a fundamental requirement. Given the circumstances, it raises suspicions that any non-disclosure or failure to report may not merely be a matter of oversight, but rather a calculated maneuver to evade regulatory scrutiny. GM Financial unauthorized sale of securities alone, conducted without the clear and informed consent of the rightful owner, unequivocally amounts to a severe violation of securities laws and regulations. It represents a blatant disregard for investor protection, and it flagrantly undermines the very core of securities markets. The perpetration of such a violation leaves no room for ambiguitythis is an undeniable breach of securities law and a clear case of securities fraud. Upholding the principles of securities law, safeguarding ownership rights, and ensuring investor interests are paramount in addressing this egregious misconduct. I have reason to believe that GM Financial is channeling my funds to service the interest on securities associated with my auto loan note, securities actively traded on the secondary market. This raises profound ethical and legal concerns, particularly when the auto loan debt is, in fact, fully discharged. This situation underscores the pressing need for transparency, legal remedies, and accountability. The borrower, unwittingly ensnared in this labyrinthine web, deserves nothing less than complete disclosure and resolution of this intricate and deeply concerning financial matter. GM Financial seeks total return by investing in investment grade auto loan-backed securities or unrated auto loan-backed securities ( ABS ) which the adviser determines to be of comparable quality. The issuance of auto loan-backed securities without the borrower's/investors knowledge or the creation of a CUSIP number without proper disclosure constitutes fraud. Here 's how it works : Securities Laws : Securities laws i.e Securities XXXX of 1933, and Securities and Exchange Commission ( SEC ) Regulations require issuers to provide accurate and complete information to investors. If auto loan-backed securities issuers, including banks and financial institutions, do not disclose the securitization process and the assignment of CUSIP numbers to borrowers, it is a violation of these laws. Lack of XXXX : In securities markets, transparency and full disclosure are paramount. When car owners take out auto loans, they generally enter into agreements with their lenders. If their auto loans or notes are later bundled into auto loan-backed securities and traded as securities, the car owner should be made aware of this process and the potential risks involved. Failure to provide this information is considered fraudulent concealment. Misrepresentation : If the creation of ( ABS ) and the assignment of CUSIP numbers are not properly disclosed to borrowers, it is misrepresentation and omission of material information. Borrowers have the right to know how their auto loan contracts XXXX be affected by securitization. Risks for XXXX : The lack of disclosure and transparency in the securitization process can create risks for investors, including mutual funds, who invest in ( ABS ). If the underlying securities are subject to legal challenges due to non-disclosure or misrepresentation, it can lead to financial losses and damage to the reputation of the investors. In summary, if borrowers/investors are not aware of the securitization of their auto loans and the assignment of CUSIP numbers to the related securities, it constitutes fraud due to non-disclosure and misrepresentation. Borrowers ( which are actually the investors ) have a right to know how their auto loan agreements are being packaged as securities and traded. Such non-disclosure can lead to legal consequences for the parties involved and pose risks for investors in these securities, such as the borrowers themselves or mutual funds.
Company Response:
State: TX
Zip: 787XX
Submitted Via: Web
Date Sent: 2023-11-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-09
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: In XXXX, I opened a lease with GM Financial. The car was repossessed about a year later. I have since reconciled the account and closed the account. I have tried several times calling GM Financial and requested that it be removed from my credit report and it still shows on my XXXX credit report. When I have contacted GM Financial I was told by several different representatives that the account was settled and closed but they could not provide any assistance or explanation as to why the account is still on my credit report. I am unable to purchase a new card due to this account still showing on my credit report.
Company Response:
State: AK
Zip: 997XX
Submitted Via: Web
Date Sent: 2023-11-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-07
Issue: Managing the loan or lease
Subissue: Problem with additional products or services purchased with the loan
Consumer Complaint: I spoke with GM/Cadillac Priority Care in regards to my Cue device several times. The Cue device is the central unit that controls, the radio, temperature, blue tooth settings, entertainment etc. The screen has been webbing ( delaminating ) for sometime now. I am not sure why not but this issue should have been under recall. Additionally, there is a lawsuit against GM in regards to this matter. I have also, reached out to GM Financial in regards to this. This issue is a factory defect. The dealership wants to charge me {$350.00} to repair. Nothing against the dealership that I go to they are amazing, but I should not have to pay for something that is a factory defect ( well known issue with these devices ). I have not been able to properly use my vehicle in moths giving the intermittent functionality of the Cue screen.
Company Response:
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-11-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-07
Issue: Repossession
Subissue: Deficiency balance after repossession
Consumer Complaint: I received a call today in regard to being sued by Americredit. It was in regards to a reposession in XXXX. They did not clarify. However. That was many years ago and they said they can sue me for the total owed which according to them was {$10.00}, XXXX but they said they are asking for {$15000.00}. Also, they said they will serve me at work or home in regards to sueing me. They have left a message on my phone and I called. They have all my information including my social and my birth date. I do not have that money. However, I thought there was as statue of limitations on when a suit can be filed by the county. Please advise. Thank. you.
Company Response:
State: PA
Zip: 19149
Submitted Via: Web
Date Sent: 2023-11-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-06
Issue: Managing the loan or lease
Subissue: Billing problem
Consumer Complaint: On XX/XX/2023 I went into XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX Dealer License Number : XXXX I went into dealership to pick up my new vehicle and to trade in my other vehicle went through all the paperwork and numbers and it all looked good. come to find out later after looking at paperwork numbers were changed and moved around to give me a higher payment and in doing so, I also received a higher APR on my auto loan. After reading my loan paperwork and running the numbers I found that the dealership kept {$31000.00} of my {$54000.00} down payment as well as my {$1500.00} Deposit. That being said as you will find in my statement below the dealership has made multiple violations in consumer law and i am requesting that things be made right according to all UCC, USC and CFR codes that have been violated on behalf of me as a consumer. As the law of Consumer Credit Transactions states, it is a direct violation of Consumer Law to form a contract without the Sum of all charges which is first violation in my loan as there are undefined charges as in the sum of all charge 's requirement was not met as well as the dealership keeping {$31000.00} in down payment for themselves and not placing on the overall down payment of the vehicle loan. With this being said there are multiple violations according to the Consumer laws in which I as a consumer am supposed to be protected against. That being said per violation of the consumer law I am requesting that I be reimburse the full amount of my down payment as well as {$1000.00} per violation and to keep property as well as my credit be fixed and all or any said delinquent marks be removed and noted.
Company Response:
State: MI
Zip: 494XX
Submitted Via: Web
Date Sent: 2023-11-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-07
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: There are several inquiries on my credict report that was not submitted by me!!
Company Response:
State: GA
Zip: 30052
Submitted Via: Web
Date Sent: 2023-11-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-08
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In accordance with the Fair Credit Reporting Act, this creditor has violated my rights under 15 USC 1681 section 602 states I have the right to privacy ( 15 USC 1681 section 604 A Section 2 ) it also states a consumer reporting agency can not furnish an account without my written instructions under 15 USCS 1666b a creditor may not treat a payment on a credit card account under an open-end consumer credit plan as late for any purpose.
Company Response:
State: CA
Zip: 92663
Submitted Via: Web
Date Sent: 2023-11-08
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A