Product: Credit reporting or other personal consumer reports

Consumer Financial Protection Bureau XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX XXXX Subject : Formal Complaint Against Toyota Motor Credit for Inaccurate Credit Reporting Dear Consumer Financial Protection Bureau, I am submitting a complaint against Toyota Motor Credit ( Toyota Financial ) regarding the inaccurate reporting of late payments on my auto loan ( Account # XXXX ). Despite making consistent, on-time payments through an authorized third-party payment system, Toyota Motor Credit has inaccurately reported multiple 30-day late payments that never occurred.

Account Details & Reporting Errors - Creditor Name : Toyota Motor Credit - Account Type : Auto Loan - Date Opened : XX/XX/XXXX - Original Balance : {$37000.00} - Loan Term : 72 months - Final Payment Date : XX/XX/XXXX - Current Status : Paid, Closed ( Updated XX/XX/XXXX ) - Inaccurate Late Payments Reported : XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX I refinanced my vehicle with Toyota Motor Credit in XX/XX/XXXX and enrolled in a third-party biweekly payment service that ensured consistent on-time payments via ACH transfers from my bank account. This third-party payment service was known and accepted by Toyota Motor Credit , and I was never notified of any issues regarding my payments.

Despite this, Toyota Motor Credit has inaccurately reported four late payments ( 30-day delinquencies ) on my credit report, even though I was never delinquent. This is a clear violation of the Fair Credit Reporting Act ( FCRA ) and has caused significant damage to my credit profile. 

FCRA & Consumer Protection Violations Committed by Toyota Motor Credit 1. Furnishing Inaccurate Information to Credit Reporting Agencies ( 1681s-2 ( a ) )- Under 15 U.S.C. 1681s-2 ( a ) ( 1 ) ( A ), furnishers **must not report inaccurate information to credit bureaus.

- Toyota Motor Credit falsely reported late payments despite my consistent and on-time payments** via their approved payment system.

2. Failure to Correct Inaccurate Information ( 1681s-2 ( a ) ( 2 ) ) - Under 1681s-2 ( a ) ( 2 ), creditors must promptly update and correct any information they find inaccurate.

Despite my dispute, Toyota Motor Credit has failed to correct the erroneous late payments.

3. Failure to Conduct a Reasonable Investigation ( 1681i ( a ) ) - When a consumer disputes an account, credit bureaus and furnishers must conduct a reasonable reinvestigation within 30 days ( 1681i ( a ) ( 1 ) ( A ) ). 
- Despite disputing this inaccuracy, my credit file has not been properly updated to reflect my on-time payment history. 

4. Adverse Impact on My Credit Profile Due to Inaccurate Reporting ( 1681e ( b ) ) - The FCRA mandates that credit bureaus maintain accurate and fair reporting.

- These incorrect late payments lowered my credit score unjustly, affecting my ability to obtain credit and favorable loan terms.

Resolution Sought 1. Immediate removal of all incorrect 30-day late payments from XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. 
2. An updated credit report accurately reflecting my on-time payments and confirming that the account was paid as agreed.

3. A written explanation detailing the investigation conducted by Toyota Motor Credit regarding this dispute.

4. Assurance that Toyota Motor Credit will adhere to FCRA laws to prevent further consumer harm. 

I request that the CFPB take immediate action to hold Toyota Motor Credit accountable for these reporting violations and ensure compliance with federal credit laws. Please provide an update regarding the status of this complaint. 

Thank you for your time and assistance. 

Sincerely, XXXX XXXX